Global Hovercraft Market to reach USD XXX billion by 2025.
Global Hovercraft Market valued approximately USD XXX billion in 2017 is anticipated to grow with a healthy growth rate of more than XXX % over the forecast period 2018-2025. Hovercrafts have become one of the comfortable and profitable means of transportation in many countries around the world. Hovercrafts are also referred as air cushion vehicles and are extensively used for military and commercial applications. A hovercraft is a vehicle which is specially designed, to be wholly or partially supported, at least some of the time during their travel over the surface by a thin cushion or film of gaseous fluid which is generally air. The air is supplied continuously at a rate which is enough to maintain the supporting pressure of the cushion of the air retained below the surface of hovercraft. The hovercraft needs both propulsion power and lift power for operating at a desired condition and speed. This can be achieved using various methods including the use of propulsors such as engines and lift fans. Depending upon their design a hovercraft is classified in various types such as: skirted hovercraft, Captured air bubble aircraft, simple plenum chamber hovercraft, sidewall hovercraft, peripheral jet hovercraft, recirculation hovercraft and trunked annular hovercraft. The hovercraft manufacturers are now focusing on designing the hovercrafts in such a way that they are capable to attain high speeds in harsh industrial and commercial environments.
The regional analysis of Global Hovercraft Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Market is anticipated to boost up in Western Europe, owing to increasing involvement of multinational conglomerates in designing quieter and high-speed hovercrafts which can be used for commercial purposes along with transportation of passengers. This will increase the demand of hovercrafts in Western European countries over the assessment period. In Middle East and Africa many governments of Middle East region are increasingly focusing on designing more efficient hovercrafts for military applications. This will further increase the sales of hover craft in the said region over the forecast period. The market is anticipated to have a moderate growth on the North America and APEJ region over the assessment period
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Diesel Power Type
- Gas Power Type
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Textron System, Aerohod, Griffon Hovework, Airlift Hovercraft, The British Hovercraft Company, Neoteic Hovercraft, Hovertrans Solutions, Garden Reach Shipbuilders and Engineers, Feodosia Shipbuilding Company, Hovertechnics and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Hovercraft Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers