Global Hovercraft Market, By Design (Skirted Hovercraft, Captured Air Bubble Hovercraft, Simple Plenum Chamber Hovercraft, Sidewall Hovercraft, Peripheral Jet Hovercraft, Recirculation Hovercraft, Trunked Annular Hovercraft), Application (Military and Marine, Commercial), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Hovercraft Market
The hovercraft market is expected to witness market growth at a rate of 1.15% in the forecast period of 2021 to 2028. Data Bridge Market Research report on hovercraft market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of end use industries globally is escalating the growth of hovercraft market.
A hovercraft, also known as an air-cushion vehicle, refers to an amphibious craft that is capable of traveling over land, water, ice, mud, and other surfaces. The vehicle is specifically designed, to be wholly or partially supported, at least some of the time during their travel over the surface with the help of film of gaseous fluid or thin cushion.
The high usage of the vehicle in the military or defence sector across the globe acts as one of the major factors driving the growth of hovercraft market. The high use of hovercraft in multiple areas as they can be operated on both land and water, and they are capable of reaching areas where conventional vehicles cannot be used, accelerate the market growth. The rise in the adoption of these vehicles for exploring narrow waterways where conventional motorboats cannot be reached, survey work, oil spill cleanup, and military services, and use of hovercrafts for heavy load carrying, transportation of troops, military supplies, and equipment, and carrying out rescue, disaster relief missions and humanitarian assistance further influence the market. Additionally, high deployment for military applications, high investments in development of muli-passenger aircrafts, and increase in number of rescue missions positively affect the hovercraft market. Furthermore, increase in demand for technologically advanced and lightweight hovercrafts with high speeds and better maneuverability characteristics extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high operational cost and utilization of lot of power for operation are expected to obstruct the market growth. Lack of lateral control and noisy operation of the vehicle are projected to challenge the hovercraft market in the forecast period of 2021-2028.
This hovercraft market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hovercraft market, contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Hovercraft Market Scope and Market Size
The hovercraft market is segmented on the basis of design and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the hovercraft market is segmented into skirted hovercraft, captured air bubble hovercraft, simple plenum chamber hovercraft, sidewall hovercraft, peripheral jet hovercraft, recirculation hovercraft, and trunked annular hovercraft.
- On the basis of application, the hovercraft market is segmented into military and marine, and commercial.
Global Hovercraft Market Country Level Analysis
The hovercraft market is analysed, and market size, volume information is provided by country, design, and application as referenced above.
The countries covered in the global hovercraft market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe is expected to dominate the hovercraft market due to the high involvement of multinational conglomerates in designing quieter and use of high speed hovercrafts for commercial purposes along with transportation of passengers within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the high use of hovercraft for border security along the borders in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hovercraft Market Share Analysis
The hovercraft market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hovercraft market.
The major players covered in the hovercraft market report are Textron Systems., Almaz Shipbuilding Company, AEROHOD Ltd., GRIFFON HOVERWORK, Airlift Hovercraft Pty Ltd, The British Hovercraft Company., Neoteric Hovercraft, Inc., Hovertrans Solutions, GRSE., Maritimedex, HOVERTECHNICS, LLC., Vanair Hovercraft, Ivanoff Hovercraft AB, Bill Baker Vehicles Ltd,, Universal Hovercraft., GENERAL ELECTRIC, Mercier-Jones LLC., NEPTUN WERFT GmbH & Co. KG, Viper Hovercraft, AUSTRALIAN HOVERFLIGHT, and AirFlow Hovercraft NZ, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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