DUBLIN, July 23, 2021--(BUSINESS WIRE)--The "Amphibious Vehicle Market by Mode of Propulsion, Application and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
Amphibious vehicles refer to a wheeled or tracked vehicle capable of operating on both land and water. Different types of amphibious vehicles used in the market include busses, trucks, hovercrafts, aircrafts, tanks, and military combat vehicles. The amphibious vehicles are primarily used by the military forces across the globe to secure the sea borders from increasing conflicts via sea and to transport military troops from ship-to-shore. In addition, amphibious vehicles are widely used for surveillance, rescue, excavation, water transportation, water sports, and recreational activities.
The factors such as rise investment in defense sector and increase in demand for commercial applications are expected to drive the market growth. However, high initial cost of amphibious vehicle and increase in operational costs followed by serviceability hinder the market growth. Further, surge in the use of advanced amphibious combat vehicles (ACV) in marine applications and rise in demand for amphibious excavators for dredging and excavation are some of the factors anticipated to offer lucrative opportunities for market growth.
The market is segmented on the basis of mode of propulsion, application, end use, and region. By mode of transportation, it is divided into water-jet, track-based, and screw propeller. By application, it is classified into surveillance & rescue, water sports, water transportation, and excavation. By end use, it is categorized into defense and commercial. By Region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
COVID-19 Scenario Analysis
The COVID-19 pandemic has forced governments to focus on their spending on healthcare and safeguarding the economy, which could possibly result in shifting priorities away from defense spending.
Market players are anticipated to experience decrease in demand due to declining budgets and procurement priorities and a flattening of the growth curve over the long term
In post COVID situation, amphibious vehicle market is expected to undergo certain changes, as market players and defense agencies are preparing for innovation shift after the lifting of restrictions to rapidly assess and adapt their supply chains.
The COVID-19 crisis is expected to affect commodity chains in the short & long term, owing to the decline in foreign investment.
This study presents analytical depiction of the global amphibious vehicle analysis along with current trends and future estimations to depict imminent investment pockets.
The overall amphibious vehicle opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global amphibious vehicle with a detailed impact analysis.
The current amphibious vehicle is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Rising Investment in Defense Sector to Aid Amphibious Vehicle Adoption
Rising the Demand for Commercial Application
High Initial Cost of Amphibious Vehicle
Increase in Operational Costs Followed by Seasonal Serviceability
Rising the Use of Advanced Amphibious Vehicles (Acv) in Marine Application
Growing Demand for Amphibious Excavators for Dredging and Excavation
EIK Engineering Sdn. Bhd.
General Dynamics Corporation
Hitachi Construction Machinery
Lockheed Martin Corporation
Marsh Buggies Incorporated
Science Applications International Corporation
Wetland Equipment Company, Inc.
Wilco Manufacturing LLC
For more information about this report visit https://www.researchandmarkets.com/r/965qho
View source version on businesswire.com: https://www.businesswire.com/news/home/20210723005401/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900