Global Offshore Patrol Vessel Market 2015-2019
About Offshore Patrol Vessel
The OPV segment is one of the major segments of the Naval Vessels market. Based on type, OPVs can be classified into two: technologically advanced high-end fighting vessels equipped with expensive weapon systems; and basic patrol vessels for low-intensity missions equipped with basic equipment, sensors, and weapons. OPVs are purchased based on requirement, geographical location, and specific purpose of application. OPVs are widely used by coastal guards, and naval and police forces for various purposes including patrolling of the coastal region, search and rescue, EEZ patrol, anti-terrorist campaigns, drug control missions, protection of fisheries, and humanitarian operations.
TechNavio's analysts forecast the Global Offshore Patrol Vessel market to grow at a CAGR of 3.42 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and growth prospects of the Global Offshore Patrol Vessel market for the period 2015-2019. It provides a global overview, market share, and growth prospects of the market by region. The report also includes the key leading countries in the market in terms of existing OPV fleets and new OPV orders. It also presents the key vendors in this market and a corresponding detailed analysis of these vendors. In addition, it discusses the major drivers that are influencing the growth of the market. It also outlines the challenges faced, as well as the key trends that are emerging in the market.
TechNavio's report, Global Offshore Patrol Vessel Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions. The report also includes a discussion of the key vendors operating in this market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Offshore Patrol Vessel Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Offshore Patrol Vessel Market: BAE Systems plc, Damen Shipyards Group, Goa Shipyard Ltd., Gulf Coast Shipyard Group and Swiftships LLC
Other Prominent Vendors in the market are: CSIC, DSME, Fincantieri, GRSE, Hyundai Heavy Industries, Navantia and Pipavav Defense and Offshore Engineering.
Commenting on the report, an analyst from TechNavio’s team said: “Modularization of OPV is expected to aid in the designing process and reduce cost and manufacturing time. It is also expected to provide benefits of flexibility for current operations and future upgrades as per requirements. The base of OPV manufacturing has shifted because of increased demand from emerging countries in Asia and South America. Several countries, such as India and China, have strengthened their defense shipbuilding capabilities and are exporting OPV to foreign countries.”
According to the report, increased demand for OPV from emerging markets in Asia, South America, and Africa propels the growth of the market. The need for maritime policing to control illegal smuggling activities and terrorist campaigns, and to patrol EEZ contribute to the demand for OPV.
Further, the report states that economic downturn in the Eurozone countries and cuts in the defense budget in several countries, including the US, hinders the market growth. Vendors in this market, however, have to grapple with the high budget required to build or upgrade OPV.
BAE Systems, Damen Shipyards Group, Goa Shipyard, Gulf Coast Shipyard Group, Swiftships, China Shipbuilding Industry, Daewoo Shipbuilding and Marine Engineering,Fincantieri, Garden Reach Shipyard & Engineers, Hyundai Heavy Industries, Navantia, Pipavav Defense and Offshore Engineering
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