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Global Amphibious Vehicle Market to reach USD 6.56 billion by the end of 2030

Global Amphibious Vehicle Market Size study & Forecast, by Platform (Commercial and Defense), by Mode of Propulsion (Screw Propellers, Water Jet, Track-based Propulsion, and Others), by Application (Surveillance and Rescue, Combat, Transportation, Sports, Excavation, and Others) and Regional Analysis, 2023-2030

Product Code: SSAD-87706418
Publish Date: 20-12-2023
Page: 200

Global Amphibious Vehicle Market is valued at approximately USD 3.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2023-2030. An amphibious vehicle is a vehicle designed to operate on both land and water, providing the ability to traverse diverse terrains and navigate through bodies of water. The Amphibious Vehicle Market is expanding because of factors such as increasing spending on adventure tourism and rising spending on defense systems. Moreover, rising spending on defense systems, drives the demand for advanced and specialized vehicles used in military operations and ship-to-shore deployments.

According to the Statista in 2022, global military spending reached a total of USD 2.24 trillion. The United States ranked first in terms of military expenditure, dedicating USD 877 billion, which accounted for approximately 40 % of the worldwide military spending for that year, totaling USD 2.2 trillion. Increasing spending on adventure tourism positively influences the Amphibious Vehicle Market, as the demand for these versatile vehicles rises due to their use in adventure activities and tourism experiences. According to Statista in 2021, The estimated market size of global adventure tourism was approximately USD 288 billion. In addition, rising technological advancement in amphibious vehicles and an increase in the demand for advanced amphibious combat vehicles in marine applications would create lucrative growth opportunities. However, the high initial cost of amphibious vehicles and the increase in operational costs stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Amphibious Vehicle Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the strong defense sector utilizing these vehicles for ship-to-shore operations. There is also increasing demand for amphibious vehicles in disaster response and rescue operations due to the region’s susceptibility to natural disasters such as hurricanes and floods. Asia Pacific is the fastest growing region over the forecast period, owing to factors such as significant economic development and rising defense budgets, driving the demand for amphibious vehicles. Furthermore, there is a growing trend of utilizing these vehicles for tourism and recreational activities, particularly in coastal and island destinations across the region.

Major market player included in this report are:
BAE Systems plc
EIK Engineering Sdn. Bhd.
General Dynamics Corporation
Griffon Hoverwork Ltd.
Hanjin Heavy Industry Construction Holdings
Lockheed Martin Corporation
Science Applications International Corporation
Wetland Equipment Company, Inc
Wilco Manufacturing LLC
Hitachi Construction Machinery Co., Ltd.

Recent Developments in the Market:
Ø In March 2023, Under a third order for full-rate production (FRP), the U.S. Marine Corps (USMC) has granted BAE Systems a $256.8 million contract for more Amphibious Combat Vehicles (ACVs). The purpose of the contract was to engage BAE Systems in performing support work on amphibious combat vehicles specifically constructed for the U.S. Marine Corps’ ship-to-shore deployment operations.
Ø In February 2021, The Australian government invested USD 620 million in the acquisition of new fleets of Australian-built amphibious vehicles and landing craft. These vehicles were intended for the transportation of land forces, providing them with improved speed and protection.

Global Amphibious Vehicle Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Platform, Mode of Propulsion, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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:

By Platform:

By Mode of Propulsion:
Screw Propellers
Water Jet
Track-based Propulsion

By Application:
Surveillance and Rescue

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Amphibious Vehicle Market, by Region, 2020-2030 (USD Billion)
1.2.2. Amphibious Vehicle Market, by Platform, 2020-2030 (USD Billion)
1.2.3. Amphibious Vehicle Market, by Mode of Propulsion, 2020-2030 (USD Billion)
1.2.4. Amphibious Vehicle Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Amphibious Vehicle Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Amphibious Vehicle Market Dynamics
3.1. Amphibious Vehicle Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing spending on adventure tourism Rising spending on defense system
3.1.2. Market Challenges High initial cost of amphibious vehicle Increase in operational costs
3.1.3. Market Opportunities Rising technological advancement in amphibious vehicle Increase in the use of advanced amphibious combat vehicles in marine applications
Chapter 4. Global Amphibious Vehicle Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Amphibious Vehicle Market, by Platform
5.1. Market Snapshot
5.2. Global Amphibious Vehicle Market by Platform , Performance – Potential Analysis
5.3. Global Amphibious Vehicle Market Estimates & Forecasts by Platform 2020-2030 (USD Billion)
5.4. Amphibious Vehicle Market, Sub Segment Analysis
5.4.1. Commercial
5.4.2. Defense
Chapter 6. Global Amphibious Vehicle Market, by Mode of Propulsion
6.1. Market Snapshot
6.2. Global Amphibious Vehicle Market by Mode of Propulsion, Performance – Potential Analysis
6.3. Global Amphibious Vehicle Market Estimates & Forecasts by Mode of Propulsion 2020-2030 (USD Billion)
6.4. Amphibious Vehicle Market, Sub Segment Analysis
6.4.1. Screw Propellers
6.4.2. Water Jet
6.4.3. Track-based Propulsion
6.4.4. Others
Chapter 7. Global Amphibious Vehicle Market, by Application
7.1. Market Snapshot
7.2. Global Amphibious Vehicle Market by Application , Performance – Potential Analysis
7.3. Global Amphibious Vehicle Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Amphibious Vehicle Market, Sub Segment Analysis
7.4.1. Surveillance and Rescue
7.4.2. Combat
7.4.3. Transportation
7.4.4. Sports
7.4.5. Excavation
7.4.6. Others
Chapter 8. Global Amphibious Vehicle Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Amphibious Vehicle Market, Regional Market Snapshot
8.4. North America Amphibious Vehicle Market
8.4.1. U.S. Amphibious Vehicle Market Platform breakdown estimates & forecasts, 2020-2030 Mode of Propulsion breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Amphibious Vehicle Market
8.5. Europe Amphibious Vehicle Market Snapshot
8.5.1. U.K. Amphibious Vehicle Market
8.5.2. Germany Amphibious Vehicle Market
8.5.3. France Amphibious Vehicle Market
8.5.4. Spain Amphibious Vehicle Market
8.5.5. Italy Amphibious Vehicle Market
8.5.6. Rest of Europe Amphibious Vehicle Market
8.6. Asia-Pacific Amphibious Vehicle Market Snapshot
8.6.1. China Amphibious Vehicle Market
8.6.2. India Amphibious Vehicle Market
8.6.3. Japan Amphibious Vehicle Market
8.6.4. Australia Amphibious Vehicle Market
8.6.5. South Korea Amphibious Vehicle Market
8.6.6. Rest of Asia Pacific Amphibious Vehicle Market
8.7. Latin America Amphibious Vehicle Market Snapshot
8.7.1. Brazil Amphibious Vehicle Market
8.7.2. Mexico Amphibious Vehicle Market
8.8. Middle East & Africa Amphibious Vehicle Market
8.8.1. Saudi Arabia Amphibious Vehicle Market
8.8.2. South Africa Amphibious Vehicle Market
8.8.3. Rest of Middle East & Africa Amphibious Vehicle Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. BAE Systems plc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. EIK Engineering Sdn. Bhd.
9.3.3. General Dynamics Corporation
9.3.4. Griffon Hoverwork Ltd.
9.3.5. Hanjin Heavy Industry Construction Holdings
9.3.6. Lockheed Martin Corporation
9.3.7. Science Applications International Corporation
9.3.8. Wetland Equipment Company, Inc
9.3.9. Wilco Manufacturing LLC
9.3.10. Hitachi Construction Machinery Co., Ltd.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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