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The global amphibious vehicle market size attained a value of approximately USD 3.46 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 8.40%, reaching a value of around USD 7.10 billion by 2032.
The market for amphibious vehicles is being driven by rising spending on water adventure tourism by travellers worldwide, supported by increasing disposable incomes and growing awareness of amphibious vehicles. Amphibious vehicles are also increasingly being used in the construction sector to make it easier to complete various mining and engineering projects in challenging locations like flooded areas and other hazardous or inaccessible terrains, thus positively influencing the amphibious vehicle market growth. Advancements in technology are anticipated to play a key role in the future market for amphibious vehicles as the speed, manoeuvrability, and accessibility of amphibious vehicles improve. With rising water levels at coastlines worldwide, the demand for amphibious vehicles is expected to increase in the coming years.
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The growth in the global market for amphibious vehicles can be associated with the rising investments in military and defence. The increasing demand for amphibious vehicles, especially from nations with aquatic borders, is bolstering the global amphibious vehicle market.
Amphibious assault vehicles (AAV) are equipped with strong engines that provide high speed and power in both water as well as on land. The specialised amphibious vehicles for military and defence operations are fixed with arms and ammunitions are reliable and versatile, thereby strengthening the country’s defence system. Rising cases of terrorism, smuggling, and illegal entry into international borders, are resulting in various governments increasing spending on defence structures and amphibious vehicles, thereby invigorating the growth of the market.
Amphibious vehicles are vehicles that are capable of operating on both land as well as on a water body. These vehicles are generally available as water jets, track-based vehicles, and screw propellers and are most widely used in commercial and military applications.
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On the basis of mode of propulsion, the market is divided into:
Based on application, the market is categorised into:
On the basis of end use, the market is bifurcated into:
The EMR report looks into the regional markets of amphibious vehicles like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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The commercial sector is expected to hold a significant share in the overall market of amphibious vehicles over the forecast period. This can be associated with the rising consumer spending on activities like water sports. In addition to this, water transportation is another key application for the market of amphibious vehicles in the commercial sector. Owing to their durability, high speed, and power, certain amphibious vehicles are often used for water mud removal, land reclamation, excavation, and waterway constructions, among others, in the commercial sector, which further boosts the amphibious vehicle market revenue. The rising demand for amphibious vehicles for dredging purposes, such as maintenance of riverbeds, reservoirs, and lakes, among others, is further generating robust growth prospects for the market. Expanding commercial applications are thus expected to drive the growth of the market for amphibious vehicles.
The report presents a detailed analysis of the following global amphibious vehicle market key players, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:
The comprehensive report looks at the micro and macro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Mode of Propulsion |
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Breakup by Application |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global market for amphibious vehicles attained a value of approximately USD 3.46 billion in 2023.
The market is projected to grow at a CAGR of 8.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 7.10 billion by 2032.
The market is being driven by the rising use of amphibious vehicles for military applications, improvements in manoeuvrability of amphibious vehicles, and increasing demand for commercial applications.
The key amphibious vehicle market trends include increasing development of inland waterways, technological advancements, and rising popularity of automatic amphibious vehicles.
The major regional markets for amphibious vehicle are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The various modes of propulsions of amphibious vehicles in the market are water-jet, track-based, and screw propellers.
The significant applications of amphibious vehicles are surveillance and rescue, water sports, water transportation, and excavation.
The leading end uses of amphibious vehicles in the market are defence and commercial.
The major players in the market, according to the report, 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.
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