The report 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.
The report 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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: Apr 29, 2015