Amphibious Vehicle Market to Reach $5.02 Bn, Globally, by 2027 at 8.5% CAGR: Allied Market Research

Increase in investment in the defense industry to raise adoption and implementation in commercial applications drive the global amphibious vehicle market growth

News provided by

Allied Market Research

Mar 01, 2021, 08:40 ET

PORTLAND, Ore., March 1, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Amphibious Vehicle Market by Mode of Propulsion (Water-Jet, Track-Based and Screw Propeller), Application (Surveillance & Rescue, Water Sports, Water Transportation and Excavation), and End Use (Defense and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global amphibious vehicle industry generated $2.70 billion in 2019, and is expected to garner $5.02 billion by 2027, witnessing a CAGR of 8.5% from 2020 to 2027.

Download Report Sample (232 Pages Research) at https://www.alliedmarketresearch.com/request-sample/10462

Prime determinants of growth

Surge in investment in the defense sector to increase adoption and demand in commercial applications drive the growth of the global amphibious vehicle market. However, high initial investment and rise in operational costs along with seasonal serviceability hinder the market growth. On the other hand, usage of advanced amphibious vehicles (ACV) in marine applications and demand for amphibious excavators for dredging and excavation present new opportunities in the coming years.

Covid-19 Scenario

Governments across various countries have shifted their focus toward spending on healthcare and safeguarding the economy. This might result in reduced spending on the defense sector. Some of the countries had already announced reductions in the defense budget. This would affect the demand for amphibious vehicle.
Manufacturing activities were stopped during the lockdown in many countries. In addition, the lockdown disrupted the supply chain. During the post-lockdown, manufacturing activities would begin and supply chain would be regulated. In addition, R&D activities would gain pace and the trend of innovation will take place.

Request for Customization of this report at https://www.alliedmarketresearch.com/request-for-customization/10462

The track-based segment to maintain its lead position throughout the forecast period

Based on mode of propulsion, the track-based segment contributed to more than three-fifths of the global amphibious vehicle market in 2019, and is projected to maintain its lead position throughout the forecast period. This is due to surge in demand for various commercial applications such as dredging and excavation. However, the screw propellers segment is expected to manifest the fastest CAGR of 12.9% from 2020 to 2027. This is due to technological innovations in screw propulsion systems

The commercial segment to maintain its leadership status by 2027

Based on end use, the commercial segment held the highest market share, accounting for around four-fifths of the global amphibious vehicle market in 2019, and is projected to maintain its leadership status by 2027. This is attributed to surge in demand of amphibious excavators for dredging purposes. However, the defense segment is estimated to witness the highest CAGR of 9.7% during the forecast period. This is attributed to increase in conflicts in land and marine borders.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/10462

North America to maintain its dominant share throughout the forecast period

Based on region, North America accounted for the largest market share in terms of revenue in 2019, holding more than two-fifths of total share, and will maintain its dominant share throughout the forecast period. This is due to rise in defense budget and military expenditure in countries such as U.S. and Canada. However, LAMEA is expected to portray the largest CAGR of 12.2% from 2020 to 2027, owing to technological developments in the field of defense systems and rise in investments by governments and military agencies.

Leading market players

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.
Wilco Manufacturing LLC.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/10462

Similar Reports We Have on Automotive, Aerospace & Defense Industry:

Armored Vehicles Market by Application (Defense and Commercial), Drive Type (Wheel and Track), and Vehicle Type (Armored Personnel Carrier, Infantry Fighting Vehicle, Main Battle Tanks, Tactical Truck, Bus, Limousine, Sedan, and Other): Global Opportunity Analysis and Industry Forecast, 2019–2026.

Unmanned Surface Vehicle (USV) Market by Application (Defense, Scientific Research, Commercial, and Others), by Size (Small, Medium, Large, and Extra Large), by Modes of Operation (Intelligence, Surveillance and Reconnaissance (ISR), Mine Counter Measures (MCM), Anti-Submarine Warfare, Oil & Gas Explorations, Oceanology Data Mapping, and Others), and by Payload (Sidescan Sonar, Towed Array, Dipping Sonar, Mini Autonomous Underwater Vehicle, Expandable Mine Neutralizers, Unmanned Aerial Vehicle, Geotechnical Seabed Data Collector, and Underway Water Column Profilers) - Global Opportunity Analysis and Industry Forecast, 2017-2030.

Unmanned Ground Vehicle Market by Size (Small, Medium and Heavy), Mode Of Locomotion (Tracked, Wheeled, and Legged), Operation (Teleoperated and Automated) and Application (Commercial and Defense) - Global Opportunity Analysis and Industry Forecast, 2017-2030.

Tank Car Market by Type (DOT-111, AAR-211, DOT-112, DOT-105, DOT-117), Built (Newly Built, Retrofit), Pressure (Pressurized Railroad tank car, General Purpose or Non-Pressurized Railroad tank car), Application (Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, Chemicals): Global Opportunity Analysis and Industry Forecast, 2021–2027.

Unmanned Aerial Vehicle (UAV) Market by Type (Vertical Take-off and Landing (VTOL), Fixed Wing and Rotary Wing), Class (Small UAV, Tactical UAV and Special Purpose UAV), Application (Military, Commercial, Consumer and Others), Mode of Operation (Fully Autonomous, Remotely Piloted and Optionally Piloted) and System (Launch & Recovery Systems, Ground Control Stations, Data Links and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |