South Korea Patrol Boats Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 0.8 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
South Korea's patrol boats market has witnessed significant developments, reflecting the nation's commitment to bolstering its maritime defense capabilities. The Republic of Korea (ROK) Navy's strategic initiatives have led to substantial investments in modern, high-speed patrol vessels to safeguard its territorial waters.In recent years, HJ Shipbuilding & Construction (HJSC) has emerged as a pivotal player in this sector. Notably, in December 2023, HJSC secured a contract worth KRW 249.3 billion to construct four new naval patrol killers, known as the Geomdoksuri-B Batch-II vessels. These ships are designed to replace the aging Chamsuri-class patrol boats, enhancing the ROK Navy's operational readiness. citeturn0search4The Geomdoksuri-B Batch-II vessels are equipped with advanced combat systems, including high-powered guided rockets, remote firing control systems, electronic warfare equipment, and stealth capabilities. These features significantly enhance their mission performance, particularly in coastal defense operations and rapid-response missions along the Northern Limit Line. citeturn0search1HJSC's contributions extend beyond new constructions. The company has undertaken performance upgrades for 18 ROK Navy fast attack craft and depot maintenance projects for vessels such as the Dokdo and high-speed landing craft. These efforts underscore HJSC's comprehensive role in sustaining and advancing South Korea's naval capabilities. citeturn0search5The patrol boats market in South Korea is characterized by a focus on technological innovation and strategic partnerships. The integration of cutting-edge systems into new vessels reflects a commitment to maintaining a robust maritime defense posture. As regional security dynamics evolve, the demand for advanced patrol boats is expected to persist, driving further growth and development in this sector.In conclusion, South Korea's patrol boats market is experiencing dynamic growth, driven by strategic investments and technological advancements. The collaboration between the ROK Navy and domestic shipbuilders like HJSC exemplifies a concerted effort to enhance maritime security and maintain regional stability.
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Fassmer
Maritime Partner AS
SAFE Boats
FB Design
Sunbird Yacht
Marine Alutech
BCGP
Connor Industries
PALFINGER MARINE
HiSiBi
Willard Marine
Asis Boats
South Boats IOW
LOMOcean Design
Grup Aresa Internacional
Changzhou FRP Boatbuilding
Boomeranger Boats
Kvichak
Gladding-Hearn
Titan Boats
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Patrol Boats Market
Fast Patrol Boats
Offshore Patrol Vessels (OPV)
Coastal Patrol Boats
Inland Patrol Boats
Coast Guard Operations
Naval Defense
Search and Rescue Operations
Anti-piracy Missions
Environmental Protection
Diesel Engine
Gasoline Engine
Hybrid Engine
Electric Engine
Aluminum
Fiberglass
Steel
Composite Materials
Small Patrol Boats (below 20 meters)
Medium Patrol Boats (20 to 50 meters)
Large Patrol Boats (above 50 meters)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Patrol Boats Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Patrol Boats Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Patrol Boats Market, By Type
6. South Korea Patrol Boats Market, By Application
7. South Korea Patrol Boats Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Patrol Boats Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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