Global Offshore Patrol Vessel (OPV) Market

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Global Offshore Patrol Vessel (OPV) Market

 


Global Offshore Patrol Vessel (OPV) Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 4.1% during a forecast period.
Global Offshore Patrol Vessel (OPV) Market Overview

Global Offshore Patrol Vessel (OPV) Market 1

Offshore patrol vessels (OPVs) are small boats used by the navy, marine police, coast guard, or customs for coastal defence. They are also used in border protection roles, like anti-smuggling, anti-piracy, fisheries patrols, rescue operations, and immigration law enforcement. Thus considering these factors the offshore patrol vessels market is expected to grow during the forecast period.

The report covers the detailed analysis of the global offshore patrol vessels industry with the classifications of the market based on weight, size and region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.

Global Offshore Patrol Vessel (OPV) Market

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The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation of market size. The manufacturing environment in each region is different and focus is given to the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed.
Global Offshore Patrol Vessel (OPV) Market Dynamics

Governments across the globe are focusing on improving border security, and growing defense budget, which is driving the growth of the offshore patrol vessels market globally. Similarly increase in demand to control drug trafficking, terrorism activity, and growing activities like smuggling, terrorism, and piracy are creating the need for offshore patrol vessels globally. OPVs are robust thus used for different situations, are expected to fuel the offshore patrol vessels in near future.

China has developed nearly more than 3000 acres of land in the Indian Ocean is expected to boost the offshore patrol vessel market. Asia Pacific countries such as India, Taiwan, South Korea, and Indonesia are planning to improve their offshore patrol vessels to improve their defense against the rising interruption of China in the Indian Ocean. Thus growing concerns regarding security and border protection is expected to drive the growth of the offshore patrol vessels during the forecast period.

The restraining factor such as the high setting cost of the shipyard is expected to hinder the growth of the offshore patrol vessels during the forecast period.
Global Offshore Patrol Vessel (OPV) Market Segmentation Analysis

By Weight, the offshore patrol vessels market is segmented into less than 1,500, 1,500-2,000, and more than 2,500. Where the less than 1,500-ton segment dominates the global offshore patrol vessel market, which was valued at XX% of global market shares in 2019 and is expected to reach US$ XX Mn during the forecast period due to its compact size and quick manoeuvring, which are highly preferred to patrol the coastline. The countries like U.K., France, Japan, the U.S., and the Netherlands, used 2,500-ton offshore patrol vessels due to extensive territorial waters in the region.

Global Offshore Patrol Vessel (OPV) Market 1

By Size, the offshore patrol vessels market is segmented into less than 50 meters, 50-90 meters, and more than 90 meters. The 50-90 meter segment is expected to witness the highest growth in the offshore patrol vessel market, which was valued at US$ 4,397.52 Mn in 2019 and is expected to reach US$ 6,396.98 by 2026 at a CAGR of 3.8% over the forecast period.

These size ships are mainly used for coast guarding, surveillance, and defense activities, policing operations, rescue operations, navy operations, embarkation & operation of ALH helicopter, and pollution control against oil spillage and external fire-fighting. Similarly the factors like consistent growth, their capabilities, operational efficiency, and advanced features installed in them are expected to drive the growth of the 50-90 meter segment in the global offshore patrol vessels market during the forecast period.

Global Offshore Patrol Vessel (OPV) Market 2

The Asia Pacific holds the largest market share of 43% in the global offshore patrol vessel market due to the extensive use of offshore patrol vessels by China, India, Japan, and South Korea. The growth opportunities to market vendors and high defense spending on the navy and expanding naval patrol vessel fleets of countries in the Asia Pacific are expected to witness the growth during the forecast period. Where India has ordered five 97m offshore patrol vessels from Larsen & Toubro which are expected to be in operation by 2026.
Global Offshore Patrol Vessel (OPV) Market Scope: Inquire before buying

Global Offshore Patrol Vessel (OPV) Market 3
Global Offshore Patrol Vessel (OPV) Market by Region

• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Global Offshore Patrol Vessel (OPV) Market Key Players

• BAE Systems Plc
• Austal
• Maritime Partner AS
• Fasser GmbH & Co
• General Dynamics Corporation
• SAFE Boats International, LLC
• Hyundai Heavy Industries Co., Ltd
• Daewoo Shipbuilding Industry Corporation
• Fassmer GmbH & Co
• Damen Shipyards Group NV
• Fincantieri Spa
• Fr. Lürssen Werft GmbH & Co. KG
• Mitsubishi Heavy Industries Ltd.
• Naval Group SA
• NAVANTIA SA
• Saab AB

About This Report

 

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This Report Is Submitted By : Maximize Market Research Company
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Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

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