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The global amphibious vehicle market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.63% during 2023-2028.
Amphibious vehicles are convertible cars operating on land as well as in water, which are used to transport passengers and cargo. They are economical and easy to store, require less maintenance, and can operate on harsh terrain. They reduce the overall expenditure as they do not involve storage charges, mooring fees, trailer expenses, and pontoon maintenance. Bicycles, boats, excavators, cranes, and personnel carriers are some of the commonly available amphibious vehicles worldwide. Nowadays, there is a rise in the demand for land vehicles that can be transformed into amphibious vehicles using a waterproof hull and a propeller.
Amphibious vehicles are integral in military missions as they merge maritime and terrain-based operations, which help move troops and equipment into combat zones quickly. In addition, they can be used for other purposes, such as disaster relief operations and humanitarian aid. This, in confluence with the rising geographical conflicts and increasing investments in the defense sector by governing agencies of several countries, represents one of the major factors bolstering the market growth. Moreover, increasing spending by individuals on water adventure tourism on account of rapid urbanization and inflating disposable incomes are driving the demand for amphibious vehicles. This can also be attributed to the growing participation of professionals in water sports activities across the globe. Apart from this, amphibious vehicles are finding applications in the construction industry to facilitate the execution of several engineering and mining projects in remote and rough environments, such as flooded areas and other dangerous or inaccessible terrains. Furthermore, they are extensively used for dredging purposes, such as maintaining riverbeds, swamps, lakes, ponds, and reservoirs, environmental clean-ups, land reclamation, excavation, water mud removal, and waterway construction.
IMARC Group provides an analysis of the key trends in each sub-segment of the global amphibious vehicle market report, along with forecasts at the global and regional and country level from 2023-2028. Our report has categorized the market based on mode of propulsion, application and end use.
Breakup by Mode of Propulsion:
Breakup by Application:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BAE Systems plc, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hydratrek Inc., Lockheed Martin Corporation, Marsh Buggies Inc., Remu Oy, Science Applications International Corporation, Ultratrex Machinery Sdn. Bhd., Wetland Equipment Company, Wilco Manufacturing L.L.C. and Wilson Marsh Equipment Company.
|Base Year of the Analysis||2022|
|Segment Coverage||Mode of Propulsion, Application, End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||BAE Systems plc, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hydratrek Inc., Lockheed Martin Corporation, Marsh Buggies Inc., Remu Oy, Science Applications International Corporation, Ultratrex Machinery Sdn. Bhd., Wetland Equipment Company, Wilco Manufacturing L.L.C. and Wilson Marsh Equipment Company|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global amphibious vehicle market was valued at US$ 3.2 Billion in 2022.
We expect the global amphibious vehicle market to exhibit a CAGR of 8.63% during 2023-2028.
The rising number of geographical conflicts, along with the increasing demand for amphibious vehicle for conducting disaster relief operations and humanitarian aid, is primarily driving the global amphibious vehicle market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for amphibious vehicles.
Based on the mode of propulsion, the global amphibious vehicle market can be segmented into waterjet, track-based, screw propellers, and others. Currently, track-based holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global amphibious vehicle market include BAE Systems plc, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hydratrek Inc., Lockheed Martin Corporation, Marsh Buggies Inc., Remu Oy, Science Applications International Corporation, Ultratrex Machinery Sdn. Bhd., Wetland Equipment Company, Wilco Manufacturing L.L.C., and Wilson Marsh Equipment Company.
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