Interceptor Boats, Fast Patrol Vessel Market Size, Share and COVID-19 Impact Analysis, By Type (War fighting Patrol Vessel and Basic Patrol Vessel), By Application (Police Force, Navy, and Coast Guard), By Service Provider (Defence and Private) and Regional Forecast, 2024-2032

Interceptor boats, fast patrol vessel market is primarily driven by consumers in developed economies such as U.S. and EU-5 with extremely high cost of affordability thus looking for more affordable options. The consumers in developing economies such as China is seeking better quality of services.

Market for interceptors is also driven by the growth in number of manufacturing facilities getting international accreditation, which encourages the market to adopt the latest technologies and equipment, focus on providing higher standards of service and ensure higher levels of hostile safety.

Interceptors are a specialised type of craft, designed for ultra-high-speed interception and insertion missions, while also being capable and effective in a medium-speed patrolling role. Robust and reliable, all Interceptors can also be fitted with a secure communication suite. With maritime and naval industry being one of the fastest growing sectors, many government and private organisations have developed policies to assist in promoting their country.

• The need for war fighting patrol vessel & basic patrol vessel generates from the investment of defense organizations and private sectors needed for patrolling the sea and see keeping other water bodies safe & secure.


• Speed is the most obvious criterion for an Interceptor. However, speed on flat water is not of the highest importance, what counts is speed that can be maintained in waves. Speed has to go hand in hand with a robust structure and capable propulsion in order to ensure reliability and avoid high maintenance costs.


• Interceptors have the ability to execute extreme turns at top speeds and a prismatic hull means that there is no danger of spinouts occurring.

Given the extreme challenges; the crew has to be comfortable. Ergonomics, and the location of the crew, console and layout are designed for the demanding circumstances of high-speed chasing. All Interceptors are equipped with shock-mitigating saddle seats.

When using the Patrol vessel’s integrated systems ensures the Interceptors are launched and recovered quickly and safely, even in higher sea states. With a robust design and reliable equipment ensures that the boats can fulfil their missions successfully and cost-effectively.

Major component driving the interceptor and fast patrol vessels market is automated controlling system being introduced for better control and safety.

Impact of COVID-19 on the Interceptor Boats, Fast Patrol Vessel Market

The naval and maritime market is expected to take time to recover from the impact of the pandemic due to the lockdowns and travel restrictions associated with it. Reduction in oil consumption around the world has further dented the growth of the market. Opening of trade routes and feasible supply of raw material will affect the product growth in coming time.

Although many countries have started opening up their borders for foreign trades including manufacturing deliveries and technological developments, the recovery is expected to take some time.

Key Insights

The report will cover the following key insights:

• An elaborative analysis of market dynamics.


• Emerging trends and technology.


• Drivers and restrains of interceptor vessel market.


• Recent developments in the market.


• Business strategies followed by recent players.


• SWOT analysis of leading companies.

Analysis by Naval Organisation

• Increasing number of naval exercises across globe propelling the market growth.


• Automation use in vessel for better understanding of system and feasible connectivity


• Increasing use of IoT based sensors is expected to drive the market growth.

Regional Analysis

North America is anticipated to acquire large amount of market growth during the forecast period. This growth is attributed to the carrier replacement program and spending on the defence and maritime industry.

Key Players Covered

The report will include the profiles of key players such Larsen & Tourbo, Lockheed Martin Corporation, Huntington Ingalls Industries, Inc., General Dynamics Corporation, Garden Research Shipbuilders & Engineers Ltd., Mazgoan Docks Ltd., Damen Shipyards Groups, Austal Limited, BAE Systems, DSME CO, Ltd., Abu Dhabi Ship Building, Naval Group and others.

Segmentation

Key Industry Developments

• In July 2022, Qatar signed a deal with Ares Shipyard for 3 fast interceptor craft. The contract was in the relationship between the shipyard and Qatar, with Ares having delivered 31 new-generation patrol boats to the Qatar Coast Guard over the last six years.


• In February 2022, Swedish boat builder and designer Marell Boats collaborated with Scania Power Solutions to develop a next-generation 17.4-meter interceptor with a hybrid driveline, the M17 Patrol.