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Asia-Pacific Naval Patrol Craft Outlook

Publisher Frost & Sullivan
Published Jun 20, 2023
SKU # MC18015610

Description

Asia-Pacific Naval Patrol Craft Outlook


Local Manufacturing to Promote Transformational Growth of the Domestic Industry and Support Exports

This analytics provides a snapshot of the naval patrol craft industry in the Asia-Pacific (APAC) by evaluating relevant regional spending activities related to patrol crafts, including procurement and research and development (R&D). The analysis covers Australia, India, Indonesia, Japan, the Philippines, Singapore, South Korea, Taiwan, and Vietnam.

The study examines the competitive landscape, covering relevant industry trends, key industry challenges, and technological advances. It identifies key factors driving and restraining growth in the industry and analyzes the opportunities that market players and stakeholders can make good use of.

Amidst rising geopolitical tensions and heightened maritime security threats, APAC countries are increasing their funding of naval patrol crafts, focusing on multi-mission capabilities. Ongoing and planned projects will enable steady industry growth through 2030. Regional defense leaders will rely on traditional and local shipbuilders/designers to meet operational requirements. The projected growth of the domestic industry is expected to impact the sales of Western defense companies in APAC.

The study emphasizes the need for partnerships among the defense industry, academia, and commercial companies to accelerate technological development. Foreign companies looking to establish presence should consider synergistic collaboration with local companies to stay competitive in the long term.

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