Offshore Patrol Vessel Market Report | Size, Share, Analysis, Growth Factors and Forecast 2023-2028

According to IMARC Group's latest report, titled "Offshore Patrol Vessel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The global offshore patrol vessel market size reached US$ 32.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.6% during 2023-2028.

An offshore patrol vessel (OPV) is a versatile, small surface ship designed to operate persistently in harsh environments, providing exceptional seakeeping and maneuverability in extreme weather conditions. It can be remotely operated by various law enforcement agencies, including the navy, marine police, coast guard, and customs, to enhance defense in coastal regions. With its exceptional seakeeping attributes, durability, and reliability, the OPV is ideal for offshore patrolling, policing maritime zones, control, and surveillance, and is often employed for search and rescue, anti-mine, humanitarian operations, and external firefighting. The vessel also offers customizability and excellent stability, making it suitable for varying tasks in different seagoing environments.

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Offshore Patrol Vessel Market Growth and Development:

The global market for OPVs is experiencing significant growth due to various factors, such as the increasing threat of terrorism, geopolitical tensions, and human or drug-trafficking operations. In line with this, governments of various nations are focusing on enhancing their defense capabilities, including OPVs for convoy protection, offshore asset surveillance, and anti-mine missions, in response to rising security concerns, which, in turn, is creating a positive outlook for the market. Additionally, the introduction of naval offshore patrol vessels (NOPVs) with super rapid gun mount (SRGM) systems for medium and short-range defensive features in warfare-like situations is propelling the market growth. The market is also favorably impacted by significant improvements in the navy and military sectors, the burgeoning defense budget, and the employment of military robotic technologies. Besides this, the growing focus on border security and the integration of advanced solutions by key players are fueling the market growth.

Offshore Patrol Vessel Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the offshore patrol vessel market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Austal Ltd.
• BAE Systems plc
• Damen Shipyards Group N.V.
• Dearsan
• Fincantieri S.p.A.
• Fr. Fassmer GmbH & Co. KG
• Fr. Lürssen Werft GmbH & Co.KG
• Garden Reach Shipbuilders & Engineers Limited
• Israel Shipyards Ltd
• Naval Group, etc

Key Market Segmentation:

The report has segmented the global offshore patrol vessel market based on vessel type, size, application and region.

Breakup by Vessel Type:

• Advanced Vessels
• Basic Vessels

Breakup by Size:

• 90 Meters

Breakup by Application:

• Coast Guard
• Navy
• Police Force

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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