Amphibious Vehicle Market is projected to achieve a market value of $5,029.10 million by 2027

Increase in investment in the defense industry to raise adoption and implementation in commercial applications drive the amphibious vehicle market growth

PORTLAND, OR, US, February 22, 2024 /EINPresswire.com/ — 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): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, The global amphibious vehicle market was valued at $2,704.30 million in 2019, and is projected to reach $5,029.10 million by 2027, registering a CAGR of 8.5% from 2020 to 2027.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A10097

Amphibious vehicle is a vehicle capable of operating on land as well as water. This vehicle are used to provide combat support to defense during amphibious military operations and act as excavators for reclamations and dredging of rivers or water bodies. Hence, it can be said that the vehicle has a defense as well as commercial use. This vehicle is available in the form of water jets, screw propellers, and others. It is widely used in activities such as surveillance, water transportation, sports, and others.

The commercial segment to maintain its leadership status by 2027

Based on end use, the commercial segment held the highest market share, accounting for around four-fifths of the global amphibious vehicle market in 2019, and is projected to maintain its leadership status by 2027. This is attributed to surge in demand of amphibious excavators for dredging purposes. However, the defense segment is estimated to witness the highest CAGR of 9.7% during the forecast period. This is attributed to increase in conflicts in land and marine borders.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/amphibious-vehicle-market/purchase-options

The factors such as rise in investment in defense sector and surge in the demand for commercial application 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, rise in the use of advanced amphibious combat vehicles (ACV) in marine application and surge in demand for amphibious excavators for dredging and excavation are some of the factors anticipated to offer lucrative opportunities for amphibious vehicle market growth.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, North America accounted for the largest market share in terms of revenue in 2019, holding more than two-fifths of total share, and will maintain its dominant share throughout the forecast period. This is due to rise in defense budget and military expenditure in countries such as U.S. and Canada. However, LAMEA is expected to portray the largest CAGR of 12.2% from 2020 to 2027, owing to technological developments in the field of defense systems and rise in investments by governments and military agencies.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The amphibious vehicle market key players analyzed in this report include BAE Systems, EIK Engineering Sdn. Bhd., General Dynamics Corporation, Hitachi Construction Machinery, Lockheed Martin Corporation, Marsh Buggies Incorporated, Rheinmetall AG, Science Applications International Corporation (SAIC), Wetland Equipment Company, Inc. and Wilco Manufacturing LLC

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A10097

By end use, the amphibious vehicle is segregated into defense and commercial. The commercial segment accounted for the highest revenue in 2019. The growth of the segment is attributed to increase in demand for amphibious excavators for dredging and excavation purposes.

Based on mode of propulsion, the track-based segment contributed to more than three-fifths of the global amphibious vehicle market in 2019, and is projected to maintain its lead position throughout the forecast period. This is due to surge in demand for various commercial applications such as dredging and excavation. However, the screw propellers segment is expected to manifest the fastest CAGR of 12.9% from 2020 to 2027. This is due to technological innovations in screw propulsion systems

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By mode of propulsion, the screw propeller segment is expected to register a significant growth during the forecast period.

By end use, the defense segment is projected to lead the global amphibious vehicle, owing to higher CAGR.

By region, LAMEA is anticipated to register the highest CAGR.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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Electric Aircraft Market – https://www.alliedmarketresearch.com/electric-aircraft-market’;

Commercial Satellite Imaging Market – https://www.alliedmarketresearch.com/commercial-satellite-imaging-market

Aircraft Brake System Market – https://www.alliedmarketresearch.com/aircraft-braking-system-market-A06199

David Correa
Allied Market Research
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