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) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) and Forecast
The Amphibious Vehicles Market size is projected to reach a CAGR of 8.9% to 2028.
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An amphibious vehicle is a means of transport, viable on land as well as on water even under water. It is also called as amphibian. This type of vehicle offers versatile usage. It can be used for defense owing to its various applications in the field of military and surveillance operations.
This type of vehicle is used for a variety of commercial applications including water sports & recreation and water transportation due to rise in popularity and technological advancements.
Rise in investment in defense sector to aid amphibious vehicle adoption and surge in the demand for commercial applications are some of the factors that have supported long-term expansion for Amphibious Vehicles Market.
Key Players of Amphibious Vehicle Market:
· BAE System
· EIK Engineering Sdn Bhd
· General Dynamics Corporation
· Hitachi Construction Machinery Co., Ltd
· Lockheed Martin Corporation
· Marsh Buggies Incorporated
· Rheinmetall AG
· Science Applications International Corporation (SAIC)
· Wetland Equipment Company
· Wilco Manufacturing, L.L.C and More
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Recent Developments
In February 2021, BAE Systems has received a $184 million contract option from the U.S. Marine Corps for more Amphibious Combat Vehicles (ACV) under full-rate production.
In November 2020, ARGO, the worldwide leader for amphibious Extreme Terrain Vehicles (XTVs), announced that it has entered into a manufacturing and supply agreement with SHERP to expand its current offering of commercial amphibious XTVs.
Amphibious Vehicles Market is segmented into application, end use, mode of propulsion and region.
On the basis of Application
· Surveillance & Rescue
· Water Sports
· Water Transportation
· Excavation
On the basis of End Use
· Defense
· Commercial
On the basis of Mode of Propulsion
· Water-jet
· Track-based
· Screw propellers
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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