Global Amphibious Vehicle Market is valued at approximately USD 3.8 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2023-2030. An amphibious vehicle is a vehicle designed to operate on both land and water, providing the ability to traverse diverse terrains and navigate through bodies of water. The Amphibious Vehicle Market is expanding because of factors such as increasing spending on adventure tourism and rising spending on defense systems. Moreover, rising spending on defense systems, drives the demand for advanced and specialized vehicles used in military operations and ship-to-shore deployments.
According to the Statista in 2022, global military spending reached a total of USD 2.24 trillion. The United States ranked first in terms of military expenditure, dedicating USD 877 billion, which accounted for approximately 40 % of the worldwide military spending for that year, totaling USD 2.2 trillion. Increasing spending on adventure tourism positively influences the Amphibious Vehicle Market, as the demand for these versatile vehicles rises due to their use in adventure activities and tourism experiences. According to Statista in 2021, The estimated market size of global adventure tourism was approximately USD 288 billion. In addition, rising technological advancement in amphibious vehicles and an increase in the demand for advanced amphibious combat vehicles in marine applications would create lucrative growth opportunities. However, the high initial cost of amphibious vehicles and the increase in operational costs stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Amphibious Vehicle Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the strong defense sector utilizing these vehicles for ship-to-shore operations. There is also increasing demand for amphibious vehicles in disaster response and rescue operations due to the region's susceptibility to natural disasters such as hurricanes and floods. Asia Pacific is the fastest growing region over the forecast period, owing to factors such as significant economic development and rising defense budgets, driving the demand for amphibious vehicles. Furthermore, there is a growing trend of utilizing these vehicles for tourism and recreational activities, particularly in coastal and island destinations across the region.
Major market player included in this report are:
- BAE Systems plc
- EIK Engineering Sdn. Bhd.
- General Dynamics Corporation
- Griffon Hoverwork Ltd.
- Hanjin Heavy Industry Construction Holdings
- Lockheed Martin Corporation
- Science Applications International Corporation
- Wetland Equipment Company, Inc
- Wilco Manufacturing LLC
- Hitachi Construction Machinery Co., Ltd.
Recent Developments in the Market:
- In March 2023, Under a third order for full-rate production (FRP), the U.S. Marine Corps (USMC) has granted BAE Systems a $256.8 million contract for more Amphibious Combat Vehicles (ACVs). The purpose of the contract was to engage BAE Systems in performing support work on amphibious combat vehicles specifically constructed for the U.S. Marine Corps' ship-to-shore deployment operations.
- In February 2021, The Australian government invested USD 620 million in the acquisition of new fleets of Australian-built amphibious vehicles and landing craft. These vehicles were intended for the transportation of land forces, providing them with improved speed and protection.
Global Amphibious Vehicle Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Platform, Mode of Propulsion, Application, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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 Platform:
By Mode of Propulsion:
- Screw Propellers
- Water Jet
- Track-based Propulsion
- Others
By Application:
- Surveillance and Rescue
- Combat
- Transportation
- Sports
- Excavation
- Others
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
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Amphibious Vehicle Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Amphibious Vehicle Market, by Platform, 2020-2030 (USD Billion)
- 1.2.3. Amphibious Vehicle Market, by Mode of Propulsion, 2020-2030 (USD Billion)
- 1.2.4. Amphibious Vehicle Market, by Application, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Amphibious Vehicle Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Amphibious Vehicle Market Dynamics
- 3.1. Amphibious Vehicle Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing spending on adventure tourism
- 3.1.1.2. Rising spending on defense system
- 3.1.2. Market Challenges
- 3.1.2.1. High initial cost of amphibious vehicle
- 3.1.2.2. Increase in operational costs
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising technological advancement in amphibious vehicle
- 3.1.3.2. Increase in the use of advanced amphibious combat vehicles in marine applications
Chapter 4. Global Amphibious Vehicle 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
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Amphibious Vehicle Market, by Platform
- 5.1. Market Snapshot
- 5.2. Global Amphibious Vehicle Market by Platform , Performance - Potential Analysis
- 5.3. Global Amphibious Vehicle Market Estimates & Forecasts by Platform 2020-2030 (USD Billion)
- 5.4. Amphibious Vehicle Market, Sub Segment Analysis
- 5.4.1. Commercial
- 5.4.2. Defense
Chapter 6. Global Amphibious Vehicle Market, by Mode of Propulsion
- 6.1. Market Snapshot
- 6.2. Global Amphibious Vehicle Market by Mode of Propulsion, Performance - Potential Analysis
- 6.3. Global Amphibious Vehicle Market Estimates & Forecasts by Mode of Propulsion 2020-2030 (USD Billion)
- 6.4. Amphibious Vehicle Market, Sub Segment Analysis
- 6.4.1. Screw Propellers
- 6.4.2. Water Jet
- 6.4.3. Track-based Propulsion
- 6.4.4. Others
Chapter 7. Global Amphibious Vehicle Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Amphibious Vehicle Market by Application , Performance - Potential Analysis
- 7.3. Global Amphibious Vehicle Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Amphibious Vehicle Market, Sub Segment Analysis
- 7.4.1. Surveillance and Rescue
- 7.4.2. Combat
- 7.4.3. Transportation
- 7.4.4. Sports
- 7.4.5. Excavation
- 7.4.6. Others
Chapter 8. Global Amphibious Vehicle Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Amphibious Vehicle Market, Regional Market Snapshot
- 8.4. North America Amphibious Vehicle Market
- 8.4.1. U.S. Amphibious Vehicle Market
- 8.4.1.1. Platform breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Mode of Propulsion breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Amphibious Vehicle Market
- 8.5. Europe Amphibious Vehicle Market Snapshot
- 8.5.1. U.K. Amphibious Vehicle Market
- 8.5.2. Germany Amphibious Vehicle Market
- 8.5.3. France Amphibious Vehicle Market
- 8.5.4. Spain Amphibious Vehicle Market
- 8.5.5. Italy Amphibious Vehicle Market
- 8.5.6. Rest of Europe Amphibious Vehicle Market
- 8.6. Asia-Pacific Amphibious Vehicle Market Snapshot
- 8.6.1. China Amphibious Vehicle Market
- 8.6.2. India Amphibious Vehicle Market
- 8.6.3. Japan Amphibious Vehicle Market
- 8.6.4. Australia Amphibious Vehicle Market
- 8.6.5. South Korea Amphibious Vehicle Market
- 8.6.6. Rest of Asia Pacific Amphibious Vehicle Market
- 8.7. Latin America Amphibious Vehicle Market Snapshot
- 8.7.1. Brazil Amphibious Vehicle Market
- 8.7.2. Mexico Amphibious Vehicle Market
- 8.8. Middle East & Africa Amphibious Vehicle Market
- 8.8.1. Saudi Arabia Amphibious Vehicle Market
- 8.8.2. South Africa Amphibious Vehicle Market
- 8.8.3. Rest of Middle East & Africa Amphibious Vehicle Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. BAE Systems plc
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. EIK Engineering Sdn. Bhd.
- 9.3.3. General Dynamics Corporation
- 9.3.4. Griffon Hoverwork Ltd.
- 9.3.5. Hanjin Heavy Industry Construction Holdings
- 9.3.6. Lockheed Martin Corporation
- 9.3.7. Science Applications International Corporation
- 9.3.8. Wetland Equipment Company, Inc
- 9.3.9. Wilco Manufacturing LLC
- 9.3.10. Hitachi Construction Machinery Co., Ltd.
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