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The amphibious landing craft is a type of warfare ship, explicitly used to land and support ground forces on enemy territory by an attack. They are small and medium-sized watercrafts such as boats and barges. The rising conflicts between various countries are expected to be the primary reason guiding the growth of the global amphibious landing craft market in the forecast period. The investment pouring into the amphibious landing craft market by governments across the globe is enormous and is further propelling the market growth.
In June 2020, BAE Systems Land and Armaments LP, a wholly-owned subsidiary of BAE Systems plc (OTCMKTS: BAESY), landed a USD 67 million contract modification to a previously awarded contract. The deal involves the development of engineering drawings for three Amphibious Combat Vehicle (ACV) command and control Mission Role Variants (MRVs), along with their manufacture and test support. This work will be completed in two places, York, Pennsylvania, and in Aiken, South Carolina, by September 2022. Such developments by the players in the industry are expected to drive the market development in the forecast period.
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