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Global Hovercraft Market to reach USD 172.1 billion by 2027.

Global Hovercraft Market By Design (Skirted Hovercraft, Captured Air Bubble Hovercraft, Simple Plenum Chamber Hovercraft, Sidewall Hovercraft, Peripheral Jet Hovercraft, Recirculation Hovercraft, Trunked Annular Hovercraft), Application (Military and Marine, Commercial), Regional Forecasts 2021-2027

Product Code: ALTAWT-66496970
Publish Date: 1-05-2022
Page: 200

Global Hovercraft Market is valued approximately at USD 148.8 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.1% over the forecast period 2021-2027. Hovercrafts have become one of the most comfortable and profitable means of transportation in many countries around the world. Hovercrafts are known as air cushion vehicles, are widely employed for both military and commercial purposes. For efficient operation, hovercraft requires both propulsion and lift power. This can be accomplished in a number of ways, including the employment of propulsors like engines and lift fans. The market is driven by growing applications of hovercraft in the commercial and military sector and growing adoption for recreational purposes. In recent years, the US Navy has stated interest in newer generation hovercraft and has placed an order with Textron. The US Navy has granted Textron a contract costing USD 386 million to manufacture an extra 15 hovercrafts. The contract was granted as part of the Ship-to-Shore Connector (SSC) Program, also known as the LCAC 100 class, which is replacing a fleet of landing Craft Air Cushions (LCAC) vehicles that are approaching the end of their 30-year service life. Work on the project is now underway in New Orleans, Louisiana, and is projected to be finished in January 2025. However, Lack of lateral control and noisy operation of the vehicle, may impede market growth over the forecast period of 2021-2027.

Europe region is likely to have the fastest development during the projection period due to an improved level of life and the consequences of climate change, also, growing adoption of hovercraft from both commercial and military end-users. Transportation of products, surveillance and rescue, and support for counter-narcotics actions are all used by law enforcement and border troops in the region.

Major market player included in this report are:
Ivanoff Hovercraft AB
Aerohod Ltd
Neoteric Hovercraft Inc.
Airlift Hovercraft Pty Ltd
Griffon Hoverwork Ltd
CHRISTY HOVERCRAFT
Hovertechnics LLC
Textron Inc.
Bill Baker Vehicles Ltd
MAD Hovercraft

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:

By Design:
Skirted Hovercraft
Captured Air Bubble Hovercraft
Simple Plenum Chamber Hovercraft
Sidewall Hovercraft
Peripheral Jet Hovercraft
Recirculation Hovercraft
Trunked Annular Hovercraft
By Application:
Military and Marine
Commercial
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

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
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Hovercraft Market, by Region, 2019-2027 (USD Billion)
1.2.2. Hovercraft Market, by Design, 2019-2027 (USD Billion)
1.2.3. Hovercraft Market, by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Hovercraft Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Hovercraft Market Dynamics
3.1. Hovercraft Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing applications of hovercraft in the commercial and military sector
3.1.1.2. Growing adoption for recreational purposes
3.1.2. Market Restraint
3.1.2.1. High operational cost
3.1.2.2. Lack of lateral control and noisy operation of the vehicle
3.1.3. Market Opportunities
3.1.3.1. Development of new models for diversified consumer base
3.1.3.2. Increase in demand for technologically advanced
Chapter 4. Global Hovercraft 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
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID -19 Impact
5.1. Assessment of the overall impact of COVID-19 on the Industry
5.2. Pre COVID 19and Post COVID 19 market scenario
Chapter 6. Global Hovercraft Market, by Design
6.1. Market Snapshot
6.2. Global Hovercraft Market by Design , Performance – Potential Analysis
6.3. Global Hovercraft Market Estimates & Forecasts by Design 2018-2027 (USD Billion)
6.4. Hovercraft Market , Sub Segment Analysis
6.4.1. Skirted Hovercraft
6.4.2. Captured Air Bubble Hovercraft
6.4.3. Simple Plenum Chamber Hovercraft
6.4.4. Sidewall Hovercraft
6.4.5. Peripheral Jet Hovercraft
6.4.6. Recirculation Hovercraft
6.4.7. Trunked Annular Hovercraft
Chapter 7. Global Hovercraft Market, by Application
7.1. Market Snapshot
7.2. Global Hovercraft Market by Application, Performance – Potential Analysis
7.3. Global Hovercraft Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
7.4. Hovercraft Market , Sub Segment Analysis
7.4.1. Military and Marine
7.4.2. Commercial
Chapter 8. Global Hovercraft Market, Regional Analysis
8.1. Hovercraft Market , Regional Market Snapshot
8.2. North America Hovercraft Market
8.2.1. U.S. Hovercraft Market
8.2.1.1. Design breakdown estimates & forecasts, 2018-2027
8.2.1.2. Application breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Hovercraft Market
8.3. Europe Hovercraft Market Snapshot
8.3.1. U.K. Hovercraft Market
8.3.2. Germany Hovercraft Market
8.3.3. France Hovercraft Market
8.3.4. Spain Hovercraft Market
8.3.5. Italy Hovercraft Market
8.3.6. Rest of Europe Hovercraft Market
8.4. Asia-Pacific Hovercraft Market Snapshot
8.4.1. China Hovercraft Market
8.4.2. India Hovercraft Market
8.4.3. Japan Hovercraft Market
8.4.4. Australia Hovercraft Market
8.4.5. South Korea Hovercraft Market
8.4.6. Rest of Asia Pacific Hovercraft Market
8.5. Latin America Hovercraft Market Snapshot
8.5.1. Brazil Hovercraft Market
8.5.2. Mexico Hovercraft Market
8.6. Rest of The World Hovercraft Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Ivanoff Hovercraft AB
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Aerohod Ltd
9.2.3. Neoteric Hovercraft Inc.
9.2.4. Airlift Hovercraft Pty Ltd
9.2.5. Griffon Hoverwork Ltd
9.2.6. CHRISTY HOVERCRAFT
9.2.7. Hovertechnics LLC
9.2.8. Textron Inc.
9.2.9. Bill Baker Vehicles Ltd
9.2.10. MAD Hovercraft
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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
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