Global Offshore Patrol Vessels market will reach 40100 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2019/1/11

Offshore Patrol Vessels (OPV), they may be operated by a nation's navy, coast guard, police force or customs and may be intended for marine or estuarine or river environments. They are commonly found engaged in various border protection roles, including anti-smuggling, anti-piracy, fisheries patrols, and immigration law enforcement. They are also often called upon to participate in rescue operations.

The Asia-Pacific will occupy for the most market share in following years, especially in India and Japan. North America, especially The United States and Canada, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Offshore Patrol Vessels.

OPVs can be broadly classified into two types: 1) High-end war-fighting vessels with expensive weapon systems and C4I suites, 2) More basic patrol vessels, designed for sustained low intensity missions and equipped with basic gun armaments, standard navigation sensors and built to commercial standards.

Which of these types a country chooses depends on its particular naval requirements, resulting from its geographic location, political aspirations and intended role of its naval force? However, the majority of OPV programmers are of the low-cost, multi-role variety. These are being used in an increasing number of roles, including fishery protection, pollution control, fire-fighting, salvage or search and rescue (SAR), counter-narcotics, humanitarian operations and exclusive economic zone (EEZ) patrol.

The OPVs market is not concentrated; there are many companies such as BAE Systems, Damen, STX Offshore & Shipbuilding, Eastern Shipbuilding Group, Austal, Dearsan Shipyard, Irving Shipbuilding, CSIC, Fassmer, Socarenam, Fincantieri, Navantia, RNAVAL and Babcock acting in the market. But each player can deliver few numbers of OPV.

The global Offshore Patrol Vessels market is valued at 20600 million US$ in 2017 and will reach 40100 million US$ by the end of 2025, growing at a CAGR of 8.7% during 2018-2025.

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