MRO Magazine

Research and Markets: Global Offshore Patrol Vessel Market 2015-2019 – Modularization of OPVs with BAE Systems, Damen Shipyards Group, Goa Shipyard, Gulf Coast Shipyard Group & Swiftships Dominating


March 27, 2015
By Business Wire News

DUBLIN

Research and Markets (http://www.researchandmarkets.com/research/ht5tcr/global_offshore) has announced the addition of the “Global Offshore Patrol Vessel Market 2015-2019” report to their offering.

The analysts forecast the Global Offshore Patrol Vessel market to grow at a CAGR of 3.42% over the period 2014-2019.

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.

The 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.

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.

Key Vendors

  • BAE Systems
  • Damen Shipyards Group
  • Goa Shipyard
  • Gulf Coast Shipyard Group
  • Swiftships

Other Prominent Vendors

  • China Shipbuilding Industry
  • Daewoo Shipbuilding and Marine Engineering
  • Fincantieri
  • Garden Reach Shipyard & Engineers
  • Hyundai Heavy Industries
  • Navantia
  • Pipavav Defense and Offshore Engineering

For more information visit http://www.researchandmarkets.com/research/ht5tcr/global_offshore

Research and Markets
Laura Wood, Senior Manager
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