OFFSHORE PATROL VESSELS MARKET ANALYSIS
Global Offshore Patrol Vessels Market - Regional Insights
The global market is classified into North America, Europe, Asia Pacific, and the rest of the world.
On the basis of region, the offshore patrol vessels market is segmented into North America, Europe, Asia Pacific, and Latin America, and Middle East & Africa.
Asia Pacific region accounted for the largest share with around 43.8% in 2022. Asia-pacific region is expected to generate the highest demand during the forecast period
The ongoing maritime disputes among various countries in the Asia Pacific region are driving investments toward fleet modernization and procurement of new maritime patrol vessels. For instance, in March 2023, the Indiana Ministry of Defense awarded a US$ 2.8 billion contract with Indian shipyards for the acquisition of 11 next-generation offshore patrol vessels & six next-generation missile vessels for the Indian Navy. The growing territorial tensions and subsequent fleet modernization plans of countries are anticipated to generate the demand for maritime patrol vessels from the Asia-Pacific region during the forecast period.
Offshore Patrol Vessels Market Report Snapshots
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