Explosive Growth: Amphibious Vehicle Market Set to Achieve CAGR of 8.3% 2029 | BAE System, EIK Engineering Sdn Bhd, General Dynamics Corporation

Exactitude Consultancy Market Research analyses that the Amphibious Vehicles Market will witness a CAGR of 8.3% for the forecast period of 2023-2029 and is likely USD 2.90 Billion in 2022 to reach at USD 5.94 Billion by 2029.

Amphibious vehicles are vehicles that can move on both land and water by using characteristics such as modified wheels, propellers, or buoyancy aids. These vehicles can shift fluidly between the two mediums without requiring any changes or additional equipment, allowing them to maneuver over many sorts of terrain and bodies of water. Amphibious vehicles can be used for a number of reasons, including military operations, transportation, search and rescue missions, and tourism. They are normally built to be adaptable, efficient, and dependable, and can range from small personal watercraft to big military-grade vehicles.

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Amphibious Vehicle Market Dynamics

✦ Drivers

Evolution and Modernization of Defense System to Boost Market Growth

►  Countries all over the world have been modernizing defense systems and equipment in recent years. The increasing importance of border security and terrorism around the world is driving the modernization of traditional equipment and systems for combating the enemy. Countries such as the United States, China, Saudi Arabia, and India are investing heavily in the procurement and development of advanced military systems. As a result, combat vehicles play an important role in both land and sea battles. The marine industry relies heavily on ACVs to transport troops from ships to shore. Furthermore, amphibious assault vehicles (AAV) have powerful engines that provide high speed and power in all terrain. Furthermore, these vehicles are more dependable, versatile, equipped with guns and ammunition, and perform well on the battlefield. As a result, countries all over the world are eager to acquire these vehicles for their robust defense system. As a result, the demand for amphibious excavators is increasing.

►  The benefits of electrically propelled vehicles, such as high endurance, high durability, advanced electronic systems, and cost-effective vehicles, are driving up demand. These vehicles or cars are used for a variety of commercial purposes such as sports, mountain climbing, exploration, and so on. The market is growing due to the wide range of applications of vehicles and the increasing demand from these domains. EIK Engineering SDN is a company that designs and develops all-terrain excavators. With the help of advanced technologies, the company has contracts with key players to design and manufacture amphibious excavators. As a result, these factors will boost market growth.

✦ Restraints

High Cost to Hinder Market Growth

► The use of advanced technology-based systems and equipment in amphibious vehicles raises the vehicle's initial cost. The vehicle's design can be tailored to the application. As a result, the vehicle's systems must be compatible with both land and water, resulting in massive expenditure. The engines used in these vehicles are not the same as those used in land-based vehicles. The engine is the most expensive component of the vehicle. Furthermore, the cost of maintaining these vehicles is high. The availability and accessibility of vehicle spare parts is a major issue. Vehicles are used in the defense sector to transport marine troops from ship to shore. Several vehicle accessories, including payloads, safety equipment, fire protection system, and others, ensure the additional cost to the vehicle. Thus, these factors hamper the market expansion.

Prominent Key players of the Amphibious Vehicles Market survey report:

Historical data available in the report elaborates on the development of the Amphibious Vehicles on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - BAE System, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hitachi Construction Machinery Co. Ltd, Lockheed Martin Corporation, Marsh Buggies Incorporated, Rheinmetall AG, Science Applications International Corporation (SAIC), Wetland Equipment Co.

Industry Development:

March 2023 - The U.S. Marine Corps (USMC) had awarded BAE Systems a USD 256.8 million contract for additional Amphibious Combat Vehicles (ACVs) under a third order for full-rate production (FRP).

Jan 2022- BAE Systems received USD 169 million production contract from U.S. Marine Corps for additional Amphibious Combat Vehicles.

Amphibious Vehicles Market Segmentation:

Amphibious Vehicles Market By Propulsion, 2023-2029, (USD Billion), (Thousand Units).

» Screw Propellers

» Water Jet

» Track-Based

Amphibious Vehicles Market By Application, 2023-2029, (USD Billion), (Thousand Units).

» Surveillance & Rescue

» Water Sports

» Water Transportation

» Excavation

Amphibious Vehicles Market By End User, 2023-2029, (USD Billion), (Thousand Units).

» Defense

» Commercial

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Amphibious Vehicles Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Amphibious Vehicles industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Amphibious Vehicles industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Amphibious Vehicles Market Research Report 2023-2029

1 Amphibious Vehicles Market Overview

1.1 Product Overview and Scope of Amphibious Vehicles

1.2 Amphibious Vehicles Segment by Type (Product Category)

1.3 Global Amphibious Vehicles market Segment by Application

1.4 Global Amphibious Vehicles Market by Region (2023-2029)

1.4.1 Global Amphibious Vehicles Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Amphibious Vehicles (2023-2029)

1.5.1 Global Amphibious Vehicles Revenue Status and Outlook (2023-2029)

1.5.2 Global Amphibious Vehicles Capacity, Production Status and Outlook (2023-2029)

…

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