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The Asia Pacific region is expected to emerge as the leading region in the global market for amphibious vehicles. This can be associated with the rising investments in the military and defence by countries like China, Japan, and India, among others. There has been an increase in the usage of advanced amphibious combat vehicles due to their characteristics like mobility and survivability. Moreover, the growth of electrically propelled vehicles with advanced characteristics, such as command and control feature and active protection systems, among other features, are expected to stimulate the growth of the market. Furthermore, owing to the presence of key automobile manufacturing companies in countries like Japan and Korea, the market is further expected to contribute towards the development of advanced amphibious vehicles, thereby strengthening the market growth in the region over the forecast period.
General Dynamics European Land Systems (GDELS) recently announced that South Korea has acquired 110 GDELS M3 vehicles in October 2022. The amphibious bridging vehicles have been selected for the Republic of Korea Army, which will be jointly produced with Hanwha Defence Corporation under the Korean Amphibious Bridging Vehicle programme. The amphibious vehicles by GDELS provides load capacity, assembly time, and manoeuvrability both on water and land. Such developments are leading the market growth of amphibious vehicles. The market growth is also augmented by the ongoing developments by the leading market players, such as Hitachi Construction Machinery Co., Ltd. (TYO: 6305).
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The major players in the global amphibious vehicle market are BAE Systems plc, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hitachi Construction Machinery Co., Ltd., Lockheed Martin Corporation, Marsh Buggies Incorporated, Wetland Equipment Company, Wilco Manufacturing LLC, Science Applications International Corporation, and Rheinmetall AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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