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The amphibious landing craft market size is estimated to grow at a CAGR of 2.78% between 2023 and 2028. The market size is forecast to increase by USD 589.97 million. The growth of the market depends on several factors such as the upgrade of capabilities to counter emerging threats, increasing commercial adoption of amphibious landing craft, and an increase in the number of joint operations fueling procurement. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by application (military and commercial), type (amphibious ACVs and APCs, air cushion vehicle, and LCU and LCM), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Amphibious Landing Craft Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Military transport systems are susceptible targets of terrorist organizations. Over the last decade, the frequency of terrorist attacks on surface transportation targets, such as military convoys, has increased and resulted in numerous casualties worldwide. This has compelled governments to procure advanced alternate transport systems for protecting soldiers, such as assault amphibious vehicles (AAVs).
Moreover, most prominent nations have already launched modernization initiatives for their landing craft fleet to deliver an augmented level of safety and mission readiness due to the extreme viability of amphibious systems in modern conflict scenarios near coastal regions. Therefore, such factors will significantly contribute to the growth of the global amphibious landing craft market during the forecast period.
The emergence of advanced weaponry in nations such as the US and the Russian Federation has intensified the race for military dominance. The prevalence of technologies such as hypersonic missiles, hypersonic rail guns, and DEW has ushered in a new era of technological advances, which are to be consolidated into amphibious landing craft. Protection against DEWs requires the integration of heavy plate armor into the body of amphibious landing craft, which, in turn, makes them bulky. Hence, the technological shortcoming has paced up the R&D efforts to use high-endurance, low-weight materials for the construction of such craft.
however, such efforts toward the development of advanced amphibious landing craft are envisioned to result in highly sophisticated craft during the forecast period. Therefore, owing to such factors, the global amphibious landing craft market is expected to witness significant growth during the forecast period.
Development cost has been a major challenging factor for amphibious system manufacturers. The development of a new design for an amphibious landing craft may incur billions of dollars. Hence, the high R&D costs favor the adoption of existing defense technologies in a budget-constrained, suboptimal manner by compromising both performance and reliability. The amphibious landing craft manufacturing industry is capital-intensive as the military versions of the craft are required to be manufactured as per custom specifications. For instance, the lack of armor and defensive equipment and weaponry in a civilian landing craft prevents it from being used for military purposes.
Moreover, due to an excessive cost increase for R&D in hydrodynamics augmentation and poor technical reliability of the system during operational testing. Such incidents critically impact the revenue stream and outreach of global amphibious landing craft manufacturers, and the resultant cost impact can be experienced for years, hampering the overall market growth. Thus, the cancellation of ongoing projects and underlying orders for amphibious landing craft is most likely to constrict the growth of the global amphibious landing craft market during the forecast period.
The market share growth by the military segment will be significant during the forecast period. The military segment dominated the global amphibious landing craft market. Owing to the rising defense expenditure by governments globally, including the US, China, Japan, Australia, and others. The military segment of the global amphibious landing craft market includes military-related amphibious vehicles.
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The military segment was the largest and was valued at USD 2,809.95 million in 2018. The use of amphibious vehicles for defense purposes is 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. The challenging task of moving marines from ship to land served as the motivation for the development of a multipurpose amphibious platform known as the ACVs. Globally, major countries such as the US, India, China, and the UK are investing in the defense sector, which has led to several investments in upgrading defense equipment and vehicles, including amphibious vehicles. For instance, in February 2021, BAE Systems announced the Marine Corps awarded it USD 184 million for 36 additional ACVs as a part of a full-rate production contract signed in December 2020. Thus, the military segment is expected to drive the growth of the global amphibious landing craft market during the forecast period.
Based on type, the market has been segmented into amphibious ACVs and APCs, air cushion vehicles, and LCU and LCM. The amphibious ACVs segment will account for the largest share of this segment.?Various peacekeeping missions undertaken by global forces have significantly increased the need for developing advanced amphibious armored combat vehicles and personnel carriers. Armored combat vehicles (ACVs) are deployed to transport troops to critical locations on the battlefield while delivering offensive capabilities against enemy troops, both armored and unarmored. The market is expected to be further propelled by orders that would be placed by other countries to increase their naval dominance. Also, as such procurement programs are materialized over a period of time and carried out in phases, the scheduled deliveries of existing contracts, coupled with fresh orders for procuring amphibious APCs and ACVs, are expected to drive the global amphibious landing craft market during the forecast period. Therefore, the amphibious ACVs and APCs segment in the global amphibious landing craft market during the forecast period.
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North America is estimated to contribute 29% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. North America is estimated to account for the largest share of the global amphibious landing craft market during the forecast period. The US is the leading user of amphibious vessels and has several active programs such as LCACs and SSCs. The defense expenditure disclosures of the US Department of Defense (DoD) clearly indicate the focus of the administration on upgrading its existing amphibious vessel fleets and their corresponding capabilities.
Moreover, the country is a key exporter and consumer of such equipment globally. The need to ensure national security and achieve naval dominance has propelled the need for such vessels, which is driving the growth of the amphibious landing craft market in the region during the forecast period.
growing demand. Such developments are anticipated to drive the global amphibious landing craft market in North America during the forecast period.
The rapid spread of COVID-19 has impacted sales in major industries, such as construction, marine tourism, and oil and gas. However, the initiation of large-scale vaccination drives conducted by the government across the region in the first half of 2021 led to normalizing the situation. The resumption of operations in the oil and gas and defense industries in North America after the lockdown drive the demand for amphibious landing craft in the region. Moreover, the growing demand for amphibious landing crafts from the defense sector will drive the growth of the regional amphibious landing craft market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Almaz Shipbuilding Co - The company offers amphibious landing craft such as project 12322 landing air cushion vessel and project 12061e landing air cushion craft.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Abu Dhabi Ship Building PJSC, Almaz Shipbuilding Co., BAE Systems Plc, Bland Group, CNH Industrial NV, CNIM SA, Damen Shipyards Group, Fincantieri Spa, Goa Shipyard Ltd., Huntington Ingalls Industries Inc., L3Harris Technologies Inc., Marine Alutech Oy Ab, Marine Inland Fabricators, Navantia SA, Rostec, Singapore Technologies Engineering Ltd., Strategic Marine S Pte Ltd., Textron Inc., Wetland Equipment Co., and Wilco Manufacturing LLC
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The amphibious landing craft market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Amphibious Landing Craft Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.78% |
Market Growth 2024-2028 |
USD 589.97 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.52 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 29% |
Key countries |
US, China, Russia, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abu Dhabi Ship Building PJSC, Almaz Shipbuilding Co., BAE Systems Plc, Bland Group, CNH Industrial NV, CNIM SA, Damen Shipyards Group, Fincantieri Spa, Goa Shipyard Ltd., Huntington Ingalls Industries Inc., L3Harris Technologies Inc., Marine Alutech Oy Ab, Marine Inland Fabricators, Navantia SA, Rostec, Singapore Technologies Engineering Ltd., Strategic Marine S Pte Ltd., Textron Inc., Wetland Equipment Co., and Wilco Manufacturing LLC |
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, 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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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