Amphibious Vehicle Market to Worth USD 6.56 Bn by 2030 | Fortune Business Insights™
The global Amphibious Vehicle Market covered major segments By Platform (Commercial and Defense), By Mode of Operation (Screw Propellers, Water Jet, Track-based Propulsion, and Others), By Application (Surveillance and Rescue, Transportation, Sports, Excavation, and Others), and Major Regions.
Pune, India, Aug. 08, 2023 (GLOBE NEWSWIRE) — The global amphibious vehicle market size was valued at USD 3.71 billion in 2022 and is anticipated to expand from USD 3.77 billion in 2023 to USD 6.56 billion by 2030, exhibiting a CAGR of 8.2% over the study period. The expansion is driven by the increasing investment of companies in the development and designing of vehicles for their efficient operation in adverse environmental conditions.
Fortune Business Insights™ provides this information in its research report, titled “Amphibious Vehicle Market, 2023-2030”.
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List of Key Players Mentioned in the Amphibious Vehicle Market Report:
- BAE Systems plc (U.K.)
- EIK Engineering Sdn. Bhd. (Malaysia)
- General Dynamics Corporation (U.S.)
- Griffon Hoverwork Ltd. (GHL) (U.K.)
- Iveco Defence Vehicles (Italy)
- Science Applications International Corporation (SAIC) (U.S.)
- Wetland Equipment Company, Inc (U.S.)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 8.2 % |
| 2030 Value Projection | USD 6.56 billion |
| Market Size in 2023 | USD 3.77 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Amphibious Vehicle Market Growth Drivers | Increase in Investment toward Defense Systems due to Rising Conflicts among Countries |
| Rising Demand for Amphibious Vehicles for Commercial Applications to Propel Industry Growth |
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Russia-Ukraine War Impact:
Growing Focus on Defense-Propelled Market Expansion during the Russia-Ukraine War
The Russia-Ukraine conflict has led to the rising focus of defense organizations on enhancing the performance, technology, and design of amphibious vehicles. The war resulted in an upsurge in investment in R&D initiatives. Additional factors propelling industry growth is the surging focus on increasing defense capabilities and escalated military expenditure.
Segmentation:
Defense Segment to Gain Traction Considering the Escalating Demand for Marine-based Applications
On the basis of platform, the market is segmented into commercial and defense. The defense segment held a major market share and is estimated to expand at a considerable CAGR over the projected period. The growth is impelled by the extensive product deployment in surveillance applications and transporting troops.
Track-based Propulsion Segment to Lead Owing to Better Fuel Efficiency
By mode of operation, the market is fragmented into screw propellers, track-based propulsion, water jet, and others. The track-based propulsion segment is anticipated to register notable expansion throughout the forecast period. The rise is impelled by the presence of advanced technology-based systems and better fuel efficiency.
Surveillance and Rescue Segment to Gain Traction Driven by Upsurge in Border Security Concerns
On the basis of application, the market is segmented into transportation, surveillance and rescue, sports excavation, and others. The surveillance and rescue segment is estimated to expand at a substantial pace over the study period. The growth is impelled by the extensive application of the product for marine-based applications.
Based on geography, the market for amphibious vehicles is subdivided into North America, Europe, Asia Pacific, and the Rest of the World.
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Report Coverage:
The report gives extensive coverage of the key factors driving the global business scenario throughout the estimated period. It further provides insight into the vital trends impelling the industry expansion over the forthcoming years. Additional aspects of the report comprise an account of the key steps undertaken by leading market players for strengthening their industry footing.
Drivers and Restraints:
Rising Investment toward Defense Systems Impelled by Growing Conflicts among Countries
One of the vital factors impelling the amphibious vehicle market growth is an upsurge in investments in defense systems. Over the past few years, several countries have depicted an increased inclination toward the modernization of defense systems.
However, the surge is being propelled by the high cost associated with the installation and maintenance of amphibious vehicles.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights-Impact of Russia-Ukraine War on Global Amphibious Vehicle Market
- Impact of Russia-Ukraine War on Global Amphibious Vehicle Market
- Global Amphibious Vehicle Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Segmental Definitions
- Market Analysis, Insights and Forecast – By Platform
- Commercial
- Defense
- Market Analysis, Insights and Forecast – By Mode of Operation
- Screw Propellers
- Water Jet
- Track-Based Propulsion
- Others
- Market Analysis, Insights and Forecast – By Application
- Surveillance and Rescue
- Transportation
- Sports
- Excavation
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…!
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Regional Insights:
North America to Lead Driven by Rising Expenditure on Modernization
The North American amphibious vehicle market share held a leading position in the global market. The region is touted to exhibit an appreciable CAGR over the projected period. The rise is impelled by the growing focus of government authorities on investments in advanced technology propulsion systems.
The Europe market is slated to depict a notable upsurge over the forecast period. The expansion is impelled by the extensive adoption of hybrid-based systems.
Competitive Landscape:
Leading Companies Forge Partnerships to Impel Industry Expansion
Key industry players are centered on adopting a range of strategic initiatives for strengthening their positions in the market. These include partnership agreements, mergers, and acquisitions. Additional steps comprise an escalation in research and development activities and the launch of new products.
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Key Industry Development:
March 2022 – BAE Systems secured a USD 34.9 million contract from the U.S. Marine Corps for designing and developing an ACV-R (Amphibious Combat Vehicle Recovery) variant. The ACV-R would offer direct field maintenance, recovery, and support to the ACV family.
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