Amphibious Vehicle Market

Market Insights

"The global amphibious vehicle market size was estimated at USD 2.68 billion in 2022 and is likely to grow at a CAGR of 9.49% during 2023-2028 to reach USD 4.69 billion in 2028."

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Amphibious Vehicle is a vehicle that is capable of operating on land as well as water. Such vehicles are mostly used in carrying cargo and also transporting the military. Hence, it can be said that the vehicle has a defense as well as commercial use.

Amphibious vehicles can be available in different types such as in the form of water jets, screw propellers, and many others. Such vehicles are highly used in activities such as surveillance, water transportation, sports, excavation, and also many others.

Market Dynamics

Market Drivers

The claim for amphibious vehicles is expected to be propelled by the rising demand from militaries owing to the increasing conflicts, rising commercial applications, the assault amphibious vehicle upgradation program of the U.S. Army, and the accessibility in rough terrain.

Segments Analysis

End-User Trends

"The commercial segment accounted for the largest market share."

The market is segmented as defense and commercial. The commercial segment is estimated to witness a higher growth during the forecast period, driven by the increasing adoption of amphibious excavators for dredging purposes across the globe.

Propulsion Trends

"The track-based segment accounted for the largest market share."

The market is segmented as screw propellers, water jet, track-based, and others. The track-based segment was expected to remain dominant in 2022, as it enables amphibious vehicles to travel at high speeds on both, water and land surfaces. This empowers the military troops with efficient monitoring and inspection of land and water borders. The segment is estimated to maintain its dominance during the forecast period as well.

Application Trends

"The excavation segment accounted for the largest market share."

The market is segmented as surveillance & rescue, water transportation, sports/recreation, excavation, and others. The excavation segment is estimated to witness the highest growth during the forecast period. This growth can be attributed to the rising inland waterway projects and the demand for land reclamation.

Regional Insights

"Asia-Pacific accounted for the largest market share."

In terms of regions, various countries, such as India, China, and Japan, among others are enormously investing to solidify their defense capabilities. The Asia-Pacific market is estimated to depict the highest growth during the forecast period, driven by an increase in the regional conflicts. The North American and the European regions are also expected to offer substantial growth opportunities in the coming five years.

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Key Players

The following are the key players in the amphibious vehicle market (arranged alphabetically).

• BAE Systems plc
• General Dynamics Corporation
• Griffon Hoverwork Ltd. (GHL)
• Hanjin Heavy Industry Co. Ltd.
• JSC Kurganmashzavod
• Lockheed Martin Corporation
• Norinco International Cooperation Ltd.
• Renault Trucks Defense
• Rheinmetall AG
• Science Applications International Corporation (SAIC)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The market is segmented into the following categories.

By End-User Type

• Defense
• Commercial

By Propulsion Type

• Screw Propellers
• Water Jet
• Track-Based
• Others

By Application Type

• Surveillance & Rescue
• Water Transportation
• Sports/Recreation
• Excavation
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s amphibious vehicle market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.