(MENAFN- EIN Presswire) Patrol naval vessels are designed for coastal defense to identify and observe threats and patrol water areas.
PORTLAND, OR, UNITED STATES, November 26, 2021 /EINPresswire.com / -- Patrol naval vessels are designed for coastal defense to identify and observe threats and patrol water areas. Vessels serve as an ideal option to secure the ocean waters surrounding a country from external interference. These vessels are often used for search and rescue operations. They aid in locating enemy ships and submarines. Threats to national security have contributed in the development and advancement of technology, thereby boosting the demand for maritime patrol naval vessels.
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Major Market Players:
•Goa Shipyard Ltd.
•Hyundai Heavy Industries Co. Ltd.
•Mitsubishi Heavy Industries Ltd.
•Damen Shipyards Group
Territorial wars and disputes between countries have led to increase in demand for naval vessels, which serve as the key drivers of the maritime patrol naval vessels market. In addition, increase in incidences of fisherman trespassing and violation of international waters fuel the demand for naval vessels. Furthermore, upsurge in military assignments and increase in fatal abilities of smugglers & sea bandits have boosted the necessity for multi-purpose patrol vessels. Moreover, increase in industrialization & urbanization, growth of transport trade through water routes propels the growth of the maritime patrol naval vessels market. However, high cost of maritime patrol naval vessels hampers the growth of the market. On the contrary, merchants are arming patrol vessels with anti-piracy; surface combat, patrolling, monitoring, control, and protection of maritime regions; and other customized capabilities. Thus, advancement of patrol vessels is expected to drive the market growth.
The global maritime patrol naval vessel market is segmented on basis of product, application, and type. By product, the market is bifurcated into unmanned maritime patrol vessels and manned maritime patrol vessels. The applications covered in the study include dry cargo vessels, tankers, dry bulk carriers, special purpose vessels, and others. Depending on type, the maritime patrol naval vessels market is segregated into military, EEZ protection, and search & rescue. Maritime patrol naval vessels market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
•The report outlines the current market trends and future scenario of the market size from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
•Porter's five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
•Major countries in the regions have been mapped according to their individual revenue contribution.
•The key drivers, restraints, and maritime patrol naval vessels market opportunities and their detailed impact analysis are elucidated in the study.
•The maritime patrol naval vessels market analysis covers in-depth information of major industry participants.
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