Amphibious vehicle market to Grow a value of $5,029.10 Million by 2027: BAE Systems, EIK Engineering, General Dynamics Corporation, Hitachi Construction Machinery, Lockheed Martin, Marsh Buggies Incorporated, Rheinmetall AG

The global amphibious vehicle market size was valued at $2,704.30 million in 2019, and is projected to reach $5,029.10 million by 2027, registering a CAGR of 8.5% from 2020 to 2027.

An amphibious vehicle can operate both on land and in water. These vehicles play a crucial role in supporting military operations during amphibious assaults and also serve as machinery for river dredging and land reclamation. Therefore, they serve both defense and commercial purposes. Available as water jets, screw propellers, and more, they're utilized for surveillance, water transport, sports, and various other activities.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭@ https://www.alliedmarketresearch.com/amphibious-vehicle-market/purchase-options

North America dominates the market, in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the global amphibious vehicle share in 2019, and is expected to grow at a significant rate during the forecast period, owing to significant increase in defense expenditures to modernize marine fleet and increase in adoption of amphibious landing crafts to convey a landing force from the sea to the shore.

By mode of propulsion, the market is categorized into water-jet, track-based, and screw propelled. The track-based segment accounted for the highest revenue in 2019, owing to the increase in demand for track-based amphibious vehicles for various commercial applications such as dredging and excavation. However, the screw propeller segment is anticipated to witness the highest CAGR of 12.9% during the forecast period, owing to advancement in technology and increase in number of innovations in screw propulsion systems.

By end use, the amphibious vehicle is segregated into defense and commercial. The commercial segment accounted for the highest revenue in 2019. The growth of the segment is attributed to increase in demand for amphibious excavators for dredging and excavation purposes.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/10462

The factors such as rise in investment in defense sector and surge in the demand for commercial application are expected to drive the market growth. However, high initial cost of amphibious vehicle and increase in operational costs followed by serviceability hinder the market growth. Further, rise in the use of advanced amphibious combat vehicles (ACV) in marine application and surge in demand for amphibious excavators for dredging and excavation are some of the factors anticipated to offer lucrative opportunities for amphibious vehicle industry growth.

The amphibious vehicle market key players analyzed in this report include BAE Systems, EIK Engineering Sdn. Bhd., General Dynamics Corporation, Hitachi Construction Machinery, Lockheed Martin Corporation, Marsh Buggies Incorporated, Rheinmetall AG, Science Applications International Corporation (SAIC), Wetland Equipment Company, Inc. and Wilco Manufacturing LLC

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/10462

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

David Correa
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Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.

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