Amphibious Vehicles Market Growth & Trends
The Amphibious Vehicles Market size is expected to reach $6.25 billion by 2027, growing at a CAGR of 11.10% between 2020 to 2027 as per the new research report published by Confianza Market Research & Consultancy. An amphibious vehicle is a vehicle capable of both land and water surface movement. Such vehicles are generally used for transferring and escorting military forces. The amphibious vehicle has an impressive load capacity and hence they are widely used by the military force all over the world to protect sea borders. Military forces use an amphibious vehicle for rescue purposes and observations. Growing expenditure on military & defense-grade amphibious vehicles is expected to drive the future growth for the Amphibious Vehicles Market.
Another major factor behind the growth of the Amphibious Vehicles industry is rising water transportation and water sports activities. Manufacturing of the Amphibious Vehicles has been increased to support the pouring demand from the commercial sector. This the main factor driving the Amphibious Vehicles industry growth.
Countries including Russia, India, Japan, etc have increased their budgets for the defense and they are investing huge amounts in the development of commercial as well as defense sector. This will help to grow the Amphibious Vehicles industry in near future. There is a huge range of Amphibious Vehicles available in the market such as bicycles, hovercraft, water jet, track base, etc. The track-based are one of the most used Amphibious Vehicles types in the world, due to its fast-moving speed on the water as well as land.
US military is known as the most technologically advanced military in the world and hence a tremendous market growth has been observed for the Amphibious Vehicles industry in 2019. US market held the largest market share in this industry. Asia Pacific region is expected to emerge as the fastest-growing region for Amphibious Vehicles Market over the forecast period. There are a few major limitations for the growth of the Amphibious Vehicles industry, such as the huge maintenance cost of Amphibious Vehicles and the need for seasonal serviceability. Therefore, vehicle sales are slower from commercial and passenger sectors.
Read detailed market analysis & view report sample here: Global Amphibious Vehicles Market Size, Share & Trends 2020-2027
Amphibious Vehicles Market Segmentation
For the purpose of this study, the Amphibious Vehicles Market has been segregated into the following key segments.
- Global Amphibious Vehicles Market End-User Overview (Revenue, USD Million, 2017 – 2027)
- Global Amphibious Vehicles Market Application Overview (Revenue, USD Million, 2017 – 2027)
- Surveillance & rescue
- Water transportation
- Global Amphibious Vehicles Market Propulsion Overview (Revenue, USD Million, 2017 – 2027)
- Screw propeller
- Water jet
- Global Amphibious Vehicles Market Regional Overview (Revenue, USD Million, 2017 – 2027)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America