The Amphibious Vehicle Market is expected to grow at CAGR of 10.2% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Amphibious Vehicle Market
Amphibious vehicle market is likely to witness an impressive CAGR of 10.2% during the forecast period. The claim for amphibious vehicles is expected to be propelled by the rising demand from militaries owing to the increasing conflicts, rising commercial applications, the assault amphibious vehicle upgradation program of the U.S. Army, and the accessibility in rough terrain.
In terms of regions, various countries, such as India, China, and Japan, among others are enormously investing to solidify their defense capabilities. The Asia-Pacific market is estimated to depict the highest growth during the forecast period, driven by an increase in the regional conflicts. The North American and the European regions are also expected to offer substantial growth opportunities in the coming five years.
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Market Scope & Segmentation
Amphibious Vehicle Market Share: By End-User Type
Based on the end-user type, the market is segmented as defense and commercial. The commercial segment is estimated to witness a higher growth during the forecast period, driven by the increasing adoption of amphibious excavators for dredging purposes across the globe.
Amphibious Vehicle Market Share: By Propulsion Type
Based on the propulsion type, the market is segmented as screw propellers, water jet, track-based, and others. The track-based segment was expected to remain dominant in 2018, as it enables amphibious vehicles to travel at high speeds on both, water and land surfaces. This empowers the military troops with efficient monitoring and inspection of land and water borders. The segment is estimated to maintain its dominance during the forecast period as well.
Amphibious Vehicle Market Share: By Application Type
Based on the application type, the market is segmented as surveillance & rescue, water transportation, sports/recreation, excavation, and others. The excavation segment is estimated to witness the highest growth during the forecast period. This growth can be attributed to the rising inland waterway projects and the demand for land reclamation.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.