Global Patrol Boats Market By Product Type, By Application, And By Region/ Country (Us, Europe, Japan, China, India, Southeast Asia, And Rest Of The World) – Global Forecast From 2020 To 2029

“Global Patrol Boats Market” is a published report at MarketResearch.biz. The global patrol boat market is expected to be valued at over US$ 17 Bn in 2020 and is projected to witness a CAGR of 6.7% over the forecast period. The global patrol boats market report has been segmented on the basis of product type, application, region/country.

Overview

Patrol boat is also known in other names such as patrol craft, patrol ship, or patrol vessel. Patrol boats are used for small naval ships related to coastal defense duties. These boats are usually operated by the nation's navy, coast guard, customs, and police force for various border protection management roles including anti-smuggling, anti-piracy, rescue operations, fisheries patrols, and enforcement of immigration law. Power sources of patrol boats are various gas turbine adjustments including combined diesel and gas (CODAG). These small-sized boats operate in speed of around 25–30 knots range. As patrol boats have relatively low cost and are smaller in size, they are very suitable for patrolling in countries’ Exclusive Economic Zone. These boats are equipped with advanced weapons and communication systems to perform multiple missions. These boats also can be operated on littoral waters. Two types of patrol boats are offshore patrol vessels (OPVs) and Inshore patrol vessels (IPVs). They are generally used for fisheries inspection, illegal immigration patrols, anti-smuggling patrols, search and rescue (SAR), and anti-piracy patrols. Among them, the smallest is the offshore patrol vessel. Military uses patrol boats for multiple purposes including providing support to larger vessels during war. Almost all navies use at least a few green water patrol vessels. Missile boats, Fast attack craft, and torpedo boats are used for military purposes. These boats are generally employed on major rivers and in enclosed harbors near to cities.  In addition, patrol boats are usually used for various search and rescue operations at the time of inundation, flood, and other calamities.

Dynamics

The global patrol boat market is expected to register continuous growth over the forecast period due to increasing worldwide demand for patrol boats. Multiple low-cost capabilities offered by patrol boats coupled with tensions from the Mediterranean Sea to the South China Sea are key factors driving growth of the global patrol boat market. In addition, increased drug trafficking and terrorist activities have resulted in the need for patrolling on the territorial waters, which in turn is fueling growth of the global patrol boat market. Increased patrolling activities led by Italy, Greece, and France due to the immigrant crisis is another factor driving growth of the market. Moreover, patrol boats are being used for pollution control, counter-narcotics, and search & rescue operations, which is supporting the market growth across the globe. Major defense spending nations are cutting down defense budget, which has resulted in increased demand for smaller and low-cost boats is expected to drive growth of the global patrol boat market. Owing to its smaller size and low-cost, demand for patrol boats is expected to increase in the global patrol boat market during the forecast period.

Increasing investment by emerging economies such as China and India for maritime security coupled with a high focus on naval force modernization is driving demand for coastal security and this is expected to drive growth of the patrol boat market during the forecast period. Low cost of patrol boats makes them suitable for countries cutting the defense budget. Therefore, increasing demand for cost-effective security by governments of various regions is expected to drive growth of the global patrol boat market. The small size of patrol boats enables quick and easy maneuvering, and therefore, they are preferred in coastline patrol.  Therefore, increasing preference of navy and police force towards small size coastal security for coastline patrol is another factor driving growth of the global patrol boat market

Maritime security threats, increasing regional tensions, peacekeeping operations, conflicting territorial claims, especially in the Mediterranean Sea and the South China Sea, have resulted in increasing demand for coastal patrol boats and this is considered to be the key driving factor for growth of the global patrol boats market.  Increasing investment by emerging economies such as China and India for maritime security coupled with a high focus on naval force modernization is fueling demand for coastal security, thereby supporting the market growth. High maintenance for quality performance of patrol boats may have a negative impact on the global market growth.  Patrol boat manufacturers are engaging in mergers & acquisitions, joint ventures, and tie-ups to increase production capacities, and product variation, thereby strengthening their position. For example, Metal Shark Boats, LLC acquired Horizon Shipbuilding to increase shipbuilding capacity. These type of developments in the market is expected to further bring growth opportunities in the global market.

Global Patrol Boats Market Segment Analysis:

By Product Type: Among the type segments, the offshore patrol vessels segment is projected to account for majority revenue share, and register a CAGR of 6.8% over the forecast period.

By Application: Among the application segments, the military segment is projected to account for major revenue share, and register a CAGR of 7.2% over the forecast period.

Global Patrol Boats Market: Analysis by Region/Country:

The market in the USA currently accounts for highest revenue share among the region/country markets, followed by Europe, Japan, China, India, and southeast Asia respectively.

Global Patrol Boats Market Segmentation: 

By Product Type:

• Inshore Patrol Vessels (IPVs)
• Offshore Patrol Vessels (OPVs)

By Application:

• Military
• Police Patrol
• Rescue

By Country/Region:

• USA
• Europe
• Japan
• China
• India
• southeast Asia
• Rest of World