What’s driving the Maritime Patrol Aircraft Market Trends? | Top Key Players are Airbus S.A.S, Boeing, Lockheed Martin Corporation, Saab AB, BAE Systems plc., Leonardo S.p.A, Thales Group, Kawasaki Heavy Industries

North America maritime patrol aircraft market share is estimated to grow at 3% CAGR on account of a large coastal line as well as significant funding by defense organizations towards surveillance activities. Telephonics Corporation received an IDIQ (Indefinite Delivery Indefinite Quantity) deal worth USD 31.8 million in 2018 to supply a multi-mode radar system, APS-143C(V)3, to the USCG’s (United States Coast Guard) Spartan med-range maritime patrol platform.

An increase in political instability and cross-border tension has propelled countries across the globe to expand their defense budgets to adopt advanced combat technologies. There has been a rise in the maritime surveillance amplifying global maritime patrol aircraft market share over the years. Positive trends in the industry may be analyzed by the collaborations of several nations towards undertaking maritime activities.

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Reportedly, fixed-wing aircraft segment is expected to register a notable CAGR of over 3% through 2026. The high adoption of the product is mainly due to the rising activities of countries to deploy large aircraft in their surveillance network. In February 2020, India announced the induction of four P81 aircraft worth US$1.1 billion to monitor their surveillance and anti-ship activities. The rise was in response to the Pulwama Attack.

In June 2018, Telephonics Corporation received an Indefinite Delivery Indefinite Quantity valued at US$31.8 million to supply a multi-mode radar technology – APS-143 C(V)3 for the United States Coast Guard’s medium-range maritime patrol system.

Turboprop engines have led the engine type segment due to the rising demand for small or general aircrafts top carry out maritime surveillance activities. Reduced cost of operations and the properties to carry small-scale manned surveillance within limited space. Global maritime patrol aircraft market size is projected to reach US$7 billion in yearly revenues by 2026.

Technological advancements in sensors, radars, and cameras coupled with the integration of several communication technologies like SATCOM in maritime surveillance has fostered the market dynamics. Modifications have enhanced the operational efficiency and overall lifespan of the systems, magnifying growth opportunities for the companies.

With respect to the components, radars have gained considerable demand in maritime patrol aircraft market due to frequent technological modifications in the systems. Most countries across the globe along with prominent industry players have increased their efforts towards the construction of advanced, efficient, and reliable radar mechanisms.

Proactive approach of the regional governments toward replacing old technologies and systems and integrating latest satellite communication network in surveillance systems is boosting the regional industry expansion for patrol aircraft and component manufacturers.

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Partial Chapter of the Table of Content
Chapter 5. Maritime Patrol Aircraft Market, By Engine Type
5.1. Key trends, by engine type
5.2. Jet engine
5.2.1. Market estimates and forecast, 2015 - 2026
5.3. Turboprop engine
5.3.1. Market estimates and forecast, 2015 – 2026
Chapter 6. Maritime Patrol Aircraft Market, By Component
6.1. Key trends, by component
6.2. Radars
6.2.1. Market estimates and forecast, 2015 - 2026
6.3. Camera
6.3.1. Market estimates and forecast, 2015 – 2026
6.4. Sensors

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