Press release
Global Amphibious Vehicle Market forecast to 2026 described in a new market report
Global Amphibious Vehicle Market was valued US$ 2.5 Bn in 2017 and is anticipated to reach approximately US$ 5.1 Bn by 2026 at a CAGR of about 9.3 % during a forecast period.
The report titled “Amphibious Vehicle Market” is segmented by an end user, by application, by propulsion, and by region. Defense, commercial is end-user segments of the amphibious vehicle market. In terms of application, the amphibious vehicle market is divided by surveillance & rescue, water transportation, sports, and excavation. Based on propulsion, amphibious vehicle market is classified into screw propeller, water jet, track-based. Amphibious vehicle market report covers the market for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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A rise in demand from defense forces and commercial usage in water sports, transportation & recreational activities is driving the amphibious vehicle's market. Further demand for amphibious excavators for dredging and excavation will fuel the market growth. Increasing defense expenditure are also boosting the amphibious vehicle market growth. High entry barriers for the defense sector and a high cost of amphibious vehicles are the major factors hampering the global amphibious market growth. An increasing use of amphibious landing craft and development of inland waterways offers an opportunity to amphibious vehicle market.
Global Amphibious Vehicle Market
Excavation application segment is leading the amphibious vehicle market. Excavation is used for bridge or waterway constructions, land reclamation, and trash & debris removal. Sports segment is predicted to gain demand in a forecast.
An increasing use of amphibious vehicle excavators for dredging applications, such as maintenance of river beds, swamps, lakes, ponds, and reservoirs. The defense sector is about to gain demand owing to the increase in defense expenditure. Surveillance & Rescue is second largest segment of amphibious vehicle market.
High military expenditure along with the high adoption of amphibious vehicles in commercial applications are the factors driving the North America market for Amphibious Vehicle Market. North America dominated the amphibious vehicle market in 2017. Rising incidences of terrorism in the Asia Pacific is expected to exhibit the fastest growth rate over the forecast period.
WaterCar, Science Applications International Corporation (SAIC), Textron, Inc., Kurganmashzavod JSC, and Hanjin Heavy Industries & Construction Co., Ltd., BAE Systems AB, General Dynamics Corporation, Lockheed Martin Corporation, Rheinmetall AG, Hitachi Construction Machinery Co., Ltd., Griffon Hoverwork Ltd. (GHL), Gibbs Sports Amphibians, Inc., Rinspeed AG, Cool Amphibious Manufacturers International, LLC. Are players leading in the amphibious vehicle market?
Scope of the Global Amphibious Vehicle Market
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Amphibious Vehicle Market by End User Type:
• Defense
• Commercial
Amphibious Vehicle Market by Application Type:
• Surveillance & Rescue
• Water Transportation
• Sports
• Excavation
Amphibious Vehicle Market by Propulsion Type:
• Screw Propeller
• Water Jet
• Track-Based
Key Players analysed in the Global Amphibious Vehicle Market Report:
• Bae Systems
• General Dynamics
• Lockheed Martin
• Rheinmetall
• SAIC
• GHL
• Norinco International
• Textron Systems
• Renault Trucks Defense
• Kurganmashzavod
• KBTM JSC
• Hanjin Heavy Industries & Construction
• Hitachi
• Wilco Manufacturing
• Wetland Equipment
• Eik Engineering
• Marsh Buggies
• TSBC Engineering
• Ultratrex Machinery
• Lemac
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