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“The increasing use of the dredging application by amphibious excavators is one of the key factors expected to drive the amphibious vehicles market”
The amphibious vehicles market is projected to grow from an estimated USD 2.39 billion in 2017 to USD 3.70 billion by 2022, at a CAGR of 9.13% during the forecast period. Growth of this market is mainly driven by the increasing demand from militaries for amphibious combat vehicles owing to rising conflicts and demand for amphibious excavators for dredging and excavation purposes. However, declining defense budgets of advanced economies is a major restraint in the amphibious vehicles market.
The excavation segment is estimated to lead the amphibious vehicles market in 2017
Based on application, the excavation segment of the amphibious vehicles market is projected to witness high growth from 2017 to 2022. Amphibious excavators are used for dredging, wherein land reclamation is a major application of dredging. Water bodies are cleared of waste materials, and excess mud is removed and are thus cleaned. Various sites in cities such as Mumbai, coastlines of mainland China, and Hong Kong have been reclaimed and this factor acts as a driver for the growth of the amphibious vehicles market.
The commercial segment is estimated to lead the amphibious vehicles market in 2017
Based on end user, the commercial segment of the amphibious vehicles market is projected to witness high growth from 2017 to 2022. The commercial sector has discovered the benefits of deploying amphibious vehicles for several applications across several industries such as water sports & transportation, and recreational activities, among several others. This is expected to lead to the high growth of the market for amphibious vehicles in commercial applications in the coming years.
The propulsion segment is estimated to lead the amphibious vehicles market in 2017
Based on propulsion, the track-based segment of the amphibious vehicles market is projected to witness high growth during the forecast period as there is an increased demand for track-based propulsion systems that enable the movement of amphibious vehicles at high speeds on both, water and land for military troops.
North America is expected to lead the amphibious vehicles market during the forecast period
North America is estimated to lead the amphibious vehicle market in 2017 and is expected to maintain this position during the forecast period. This region is implementing the latest military technologies, which can improve detection capabilities, surveillance duration & resolution, incoming projectile defense capabilities, base & area protection capabilities, and early warning system capabilities of various types of military aircraft, naval vessels, and ground-based forward forces. North America is one of the major regions expected to procure highly advanced armored vehicles for the safety of the army.
Wetland Equipment Company Inc. (U.S.), Wilco Manufacturing, LLC (U.S.), Marsh Buggies Incorporated (U.S.), Lemac Corporation (U.S.), and Wilson Marsh Equipment (U.S.), are some of the manufacturers of commercial amphibious vehicles in this region.
Break-up of profile of primary participants in the amphibious vehicles market:
- By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation – C Level – 35%, Director Level – 25%, and Others – 40%
- By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, and RoW – 5%
Major companies profiled in this report include BAE Systems (U.K.), General Dynamics Corporation (U.S.), Lockheed Martin Corporation (U.S.), and Rheinmetall AG (Germany), among others.
This research report categorizes the amphibious vehicles market based on end user (defense and commercial), application (surveillance & rescue, water transportation, sports, and excavation), propulsion (screw propeller, water jet, track-based, and others). These segments and subsegments have been analyzed across major regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Reasons To buy this report:
From an insight perspective, this research report focuses on various levels of analyses ? industry analysis (industry trends), company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on amphibious vehicles offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and major contracts in the amphibious vehicles market
- Market Development: Comprehensive information about lucrative markets – the report analyses the markets for amphibious vehicles across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the amphibious vehicles market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the amphibious vehicles market