Reportstack has announced a new market research report on the Global Offshore Patrol Vessel Market 2015-2019. 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. The Global Offshore Patrol Vessel market is expected to post a CAGR of 3.42 percent during the forecast period of 2014-2019.
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Presently, the market in Asia and the emerging countries, such as South America and Africa, account for the majority of the new OPV orders, thereby overtaking the markets in Europe and North America. Coastal armed, naval, and police forces widely use OPV for various purposes such as coastal region patrolling, search and rescue, EEZ patrol, anti-terrorist campaigns, drug control missions, fishery protection, and humanitarian operations. “Along with growth in the number of OPV fleet and rise in demand for new orders from emerging countries such as China and India, manufacturing of OPV has also shifted to these countries,”
“For example, China has strengthened its shipbuilding capacity to such extent that its current production capacity can not only meet its needs, but also export OPV in high numbers.” To define the market conditions in the next 3-4 years, The analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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