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Market Size of Maritime Patrol Aircraft Expected to Reach USD 15.57 Billion by 2021: TechnavioThe global maritime patrol aircraft market is expected to grow at a CAGR of close to 5% during the forecast period, according to Technavio's latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170119005982/en/ 
Technavio has published a new report on the global MPA market from 2017-2021. (Graphic: Business Wire) In this report, Technavio covers the market outlook and growth prospects of the global maritime patrol aircraft market for 2017-2021. By product type, maritime patrol aircrafts are segmented into fixed-wing aircraft and rotorcraft.
Many countries around the world are currently involved in the modernization of their defense and offense forces by increasing their procurement of military patrol aircraft to boost maritime security. This will create demand for the special mission military aircraft market, and provide a greater sense of security to the countries. Technavio's research study segments the global maritime patrol aircraft market into the following regions:
Americas: largest maritime patrol aircraft market segment "The US is the largest market for MPA in the Americas. The changing nature of warfare has led the US Department of Defense to make a strategic move toward the protection of its political and commercial interests in international waters by the development of special mission platforms," says Moutushi Saha, one of the lead analysts at Technavio for defense research. Also, there is a growing utilization of MPAs like P-8A Poseidon in anti-submarine warfare missions in the region. Meanwhile, South American countries are also focusing on the modernization of their MPA to increase the operational effectiveness of their defense fleets. The Brazilian Air Force (FAB) received their first order of modernized Embraer P-95 MPA from AEL Sistemas, a Brazilian company. Request a sample report: http://www.technavio.com/request-a-sample?report=55844 Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. APAC: fastest growing maritime patrol aircraft market segment APAC is expected to showcase a CAGR of over 5% through the forecast period, growing faster than the other regions. The South China Sea and the Indian Ocean are prominent zones in APAC with multiple countries trying to assert dominance over them. This is leading to a large-scale procurement of submarines and heavy surveillance equipment to augment naval capabilities of various nations, thereby increasing patrol capabilities to counter any form of attack. Countries like Singapore, the Philippines, India, and Malaysia are investing significantly in the procurement of aerial platforms such as MPA to fight against marine threats. Meanwhile, countries like Australia are currently focusing on securing nearby regions, which include maritime South East Asia and the South Pacific. EMEA: increased adoption of MPA to improve combat readiness "To have greater control over emergency political situations, and to improve combat readiness, countries in EMEA have procured a number of MPA. Egypt, France, Germany, Iran, Israel, Russia, Turkey, and the UK are some of the biggest consumers of MPA from the region," says Moutushi. Boeing (News - Alert) has received a contract worth USD 68.4 million to provide the UK's Royal Air Force (RAF) four P-8A Poseidon aircraft. Similarly, Thales (News - Alert) signed a contract with the government of Turkey to modify the CASA C295 transport aircraft fleet of the Turkish Coast Guard and Turkish Naval Forces. Such investments from EMEA towards the procurement of maritime patrol aircraft will drive the growth of the market in the region. The top vendors in the global maritime patrol aircraft market highlighted in the report are: Browse Related Reports:
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170119005982/en/ |
