Amphibious Vehicle Market by End-user and Geography - Forecast and Analysis 2022-2026

The amphibious vehicle market share is expected to increase by USD 1.5 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.75%.

This amphibious vehicle market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the amphibious vehicle market segmentation by end-user (defense and commercial) and geography (North America, APAC, Europe, the Middle East and Africa, and South America). The amphibious vehicle market report also offers information on several market vendors, including BAE Systems Plc, Bland Group UK Holdings Ltd., DAT BV, EIK Engineering SDN BHD, General Dynamics Corp., Hanjin Heavy Industries & Construction Holdings Co. Ltd., Hitachi Construction Machinery Co. Ltd., Hydratrek Inc., Lockheed Martin Corp., Marsh Buggies Inc., Remu Oy, Rheinmetall AG, Ultratrek Machinery SDN BHD, WaterCar, Wetland Equipment Co., Wilco Manufacturing LLC, and Wilson Marsh Equipment Inc. among others.

What will the Amphibious Vehicle Market Size be During the Forecast Period?

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Amphibious Vehicle Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global amphibious vehicle market. During the COVID-19 pandemic, the demand for the amphibious vehicle market has been impacted significantly. But a holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.

Key Amphibious Vehicle Market Driver

The upgrade of defense capabilities to counter emerging security threats is one of the key factors driving the global amphibious vehicle market growth. Military transport systems are susceptible targets of terrorist organizations for causing mass casualties and inflicting psychological trauma on the military infrastructure of a country. Over the last decade, the frequency of terrorist attacks on surface transportation targets, such as military convoys, has increased and resulted in numerous casualties across the world. This has forced governments to procure advanced machinery, such as ACVs, APCs, and IFVs, to protect soldiers. Similarly, the current clash between the Chinese and Indian troops has accelerated the purchase of armored vehicles, with Stryker, Tata WhAP, and Humvee being the biggest contenders. Most prominent nations have already launched modernization initiatives to deliver an augmented level of military safety and mission readiness. Such initiatives undertaken by global armed forces for counter-terrorism are expected to significantly contribute to the growth of the global amphibious vehicle market during the forecast period.

Key Amphibious Vehicle Market Trend

The increasing penetration of AI in defense applications will fuel the global amphibious vehicle market growth. AI is expected to play a significant role in self-driving vehicles in the future. These autonomous vehicles help reduce casualties in combat zones where considerable injuries and fatalities are attributed to military personnel involved in the delivery of fuel, food, and equipment. Moreover, autonomous AI will require data analytics and sophisticated mapping features to support self-drive functionalities. This will drive military vehicle manufacturers to enter into partnerships with hardware and software companies for developing technological building blocks. Autonomous military vehicles will benefit from the development of IoT networks as most drivers will prefer to link to the control room, radars, satellites, and other guidance or navigation systems. In a military vehicle, IoT also allows automotive AI to read the information stored in the cloud and alter the drive patterns accordingly. This system will also help avoid obstacles and reduce potential accidents. Thus, AI is expected to drive the growth of the global amphibious vehicle market during the forecast period.

Key Amphibious Vehicle Market Challenge

The defense budget cuts affecting procurement patterns are the major challenge to the global amphibious vehicle market growth. Most countries are still recovering from the global recession of 2008 as the crisis affected several sectors and exposed them to critical damage, which required massive government interventions to ensure the integrity of the administrative system. Thus, the massive spending and simultaneous loss of revenue resulted in trade deficits prompting subsequent global defense budget cuts. Due to these cuts, most prominent military superpowers like the US are struggling to maintain their basic defense capabilities and are facing problems of military overstretch despite making sincere efforts to enhance the operational efficiency of their armed forces. For instance, there were huge defense budget cuts in the US due to the COVID-19 pandemic, which adversely affected the economy. These budget constraints have resulted in the armed forces prioritizing near-term readiness over modernization. Most investments were made in short-term enhancements of the capabilities of existing armored vehicles rather than investing in the procurement of next-generation combat vehicles and other associative platforms. Such developments are anticipated to drive down the procurement capabilities of nations, which, in turn, will restrict the growth of the global amphibious vehicle market during the forecast period.

This amphibious vehicle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global amphibious vehicle market as a part of the global aerospace & defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the amphibious vehicle market during the forecast period.

Who are the Major Amphibious Vehicle Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• BAE Systems Plc
• Bland Group UK Holdings Ltd.
• DAT BV
• EIK Engineering SDN BHD
• General Dynamics Corp.
• Hanjin Heavy Industries & Construction Holdings Co. Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Hydratrek Inc.
• Lockheed Martin Corp.
• Marsh Buggies Inc.
• Remu Oy
• Rheinmetall AG
• Ultratrek Machinery SDN BHD
• WaterCar
• Wetland Equipment Co.
• Wilco Manufacturing LLC
• Wilson Marsh Equipment Inc.

 

This statistical study of the amphibious vehicle market encompasses successful business strategies deployed by the key vendors. The amphibious vehicle market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• baesystems.com - The company offers amphibious combat vehicles, such as ACV R, ACV C, and ACV 30.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.

Amphibious Vehicle Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the amphibious vehicle market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global capital goods market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Amphibious Vehicle Market?

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29% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the amphibious vehicle market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The upgrading of defense capabilities to counter emerging security threats will facilitate the amphibious vehicle market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The amphibious vehicles market in APAC witnessed certain challenges due to the COVID-19 pandemic in 2020 and 2021. The military and defense sectors and the mining industry witnessed a negative impact due to the COVID-19 pandemic in 2020 and the first half of 2021. In 2021, the initiation of mass vaccination drives and various initiatives taken by the government in the region resulted in the resumption of the normalcy of business operations. As a result, vendors started receiving new contracts to develop military armored vehicles. Such factors will increase the market growth during the forecast period.

What are the Revenue-generating End-user Segments in the Amphibious Vehicle Market?

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The amphibious vehicle market share growth in the Defense segment will be significant during the forecast period. The defense segment of the global amphibious vehicle market includes military-related amphibious vehicles. The amphibious vehicles used for defense purposes are frequently referred to as amphibious combat vehicles (ACVs) or amphibious military vehicles. ACVs exhibit the ideal balance between land and marine mobility, survivability, and the possibility for future growth. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the amphibious vehicle market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Amphibious Vehicle Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 8.75%
Market growth 2022-2026	$1.5 billion
Market structure	Fragmented
YoY growth (%)	7.67
Regional analysis	North America, APAC, Europe, the Middle East and Africa, and South America
Performing market contribution	APAC at 29%
Key consumer countries	US, China, India, Germany, and France
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	BAE Systems Plc, Bland Group UK Holdings Ltd., DAT BV, EIK Engineering SDN BHD, General Dynamics Corp., Hanjin Heavy Industries & Construction Holdings Co. Ltd., Hitachi Construction Machinery Co. Ltd., Hydratrek Inc., Lockheed Martin Corp., Marsh Buggies Inc., Remu Oy, Rheinmetall AG, Ultratrek Machinery SDN BHD, WaterCar, Wetland Equipment Co., Wilco Manufacturing LLC, and Wilson Marsh Equipment Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Amphibious Vehicle Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive amphibious vehicle market growth during the next five years
• Precise estimation of the amphibious vehicle market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the amphibious vehicle industry across North America, APAC, Europe, the Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of amphibious vehicle market vendors

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