The market for offshore patrol vessels (OPVs) is buoyant as countries seek to modernise, upgrade, and replace platforms to keep up with the pace of technology change and the evolving threat spectrum. Their multi-role capabilities also makes them a popular choice for militaries and governments as they seek to get more bang for their buck.
Ahead of the Offshore Patrol Vessels conference (14 – 16 September, 2016 - Glasgow, UK), Defence IQ commissioned a survey of naval experts and industry professionals to gauge how the market is evolving and to identify the key trends in the market over the next ten years.
Based on a survey of 429 industry experts and military stakeholders, this report looks to analyse the data and provide an insight into the OPV market. It focuses on the key challenges for modernising the platforms, looks at the potentially game-changing new technologies coming to market, the benefits of modularity, and the regional markets targeted for growth.
Offshore Patrol Vessels (OPVs) are the fastest growing segment of the Naval Vessels Market. At least 36 countries are known to have a total of 167 OPVs on order and 28 countries have plans for up to another 239 at a total value of over $60 billion. The total number of OPVs on order has increased by 23% in the last year, although the number planned has decreased by 13% as plans have transferred to orders.
The total number of OPVs in operation worldwide has increased from 776 to 839 in the last year, a growth rate of 8%. Around 87 countries now operate OPVs or have them on order. Asia has the largest proportion of the current fleet (46%) and the numbers on order (49%). Japan and India have 46% of the Asian vessels between them, while India alone has 25% of the total vessels on order worldwide.
Find out more about the current holdings and requirements by downloading the report now.
This map reveals the latest known OPV and Warship requirements globally and details all current holdings. Similar to the Holdings and Requirements Report but meant to be used as a graphical representation that can be used as a quick reference tool.
The Offshore Patrol Vessels market is booming. It is set to hold a 27% share over the next ten years in the global vessel market. While many countries cannot afford the guideline to put 2% of their GDP into NATO’s overall budget, the focus has been put on navies and coastguards around the world to respond to potential disputes, such as the growing influence of the Russian Navy in the Balkans or to assist during humanitarian crises.
Read our exclusive interview on the industry’s insight into the overall OPV Market with Mr Piet Van Rooij, manager design and proposal at Damen Shipyard HQ in Gorinchem, Netherlands.
Worldwide Survey Results 2017: Offshore Patrol Vessels: Analysis of an expanding sector in a struggling market
The tense atmosphere particularly in the Mediterranean Sea, the Balkans, the North Korea waters and the South China Sea, coupled with the multiple low-cost capabilities offered by offshore patrol vessels are key factors behind their increasing success. We surveyed more than 300 experts from around the world, gathering all the latest views on the current OPV market, its opportunities and limitations, ahead of the 12th edition of the Offshore Patrol Vessel conference, the longest running and most successful event of its kind.