The new report by Expert Market Research titled, ‘Global Amphibious Vehicle Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global amphibious vehicle market, assessing the market based on its segments like propulsions, applications, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 2.91 Billion
- Forecast CAGR (2021-2026): 8.35%
- Forecast Market Size (2026): USD 4.71 Billion
The rise in the global market for amphibious vehicles can be associated with the rising applications of amphibious vehicles in major military and defence applications. Amphibious assault vehicles (AAV) are equipped with strong engines that provide high speed and power in both, water and land. Amphibious vehicles for military and defence operations are fixed with arms, ammunitions, are reliable and versatile thereby strengthening the country’s defence system. In addition to this, robust investments by countries in order to strengthen the defence system has led to the deployment of advanced amphibious combat vehicles (ACV) with features like situational awareness and agility, among others thereby boosting the market growth.
Industry Definition and Segmentation
Amphibious vehicles are vehicles that are capable of operating on both, land, and water. These vehicles are generally available as water jets, track-based vehicles, and screw propels and are most widely used in various commercial and military applications.
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On the basis of propulsion, the market can be divided into:
- Screw Propellers
The market, based on application, can be categorised into:
- Surveillance and Rescue
- Water Sports
- Water Transportation
Based on end-use, the market can be segmented into:
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The Asia pacific region is expected to account for a significant share in the global market for amphibious vehicles. This can be attributed to the presence of leading market players in the region and the incorporation of advanced technology into the manufacturing of these vehicles. Various commercial applications of amphibious vehicles including its utility in water transportation and water sports activities is boosting the growth of the market. In addition, owing to their durability, high speed, and power, certain amphibious vehicles are often used for water mud removal, land reclamation, excavation, and waterway constructions, among others, which further expands the growth of the market in the commercial sector.
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Key Market Players
The major players in the market are BAE Systems plc, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hitachi Construction Machinery Co., Ltd., Lockheed Martin Corporation, Marsh Buggies Incorporated, Wetland Equipment Company, Wilco Manufacturing LLC, Science Applications International Corporation, and Rheinmetall AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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