Amphibious vehicles are the wheeled or tracked vehicles which can be used on both land as well as water surface. Since its inception, the utility of amphibious vehicles was acknowledged in various military applications during the World War II. A variety of amphibious vehicles were created during the World War II for varied military and defense applications including surveillance, rescue and assaults. With technological advancements and its growing popularity in the recent years, amphibious vehicles are being used for a variety of applications including sports and recreation, excavations, transportation and research applications and not just limited to the defense activities.

Leading amphibious vehicle manufacturing giants across the globe have been engaging themselves in introducing innovative amphibious vehicle variants for a variety of applications. Modern amphibious vehicles are capable of transporting large and heavy cargo including military vehicles such as tanks and trucks. Defense agencies across numerous countries have considered to incorporate amphibious vehicles on account of their exceptional capabilities over land and water. Moreover, amphibious vehicles such as hovercrafts have added another dimension to the modern day amphibious vehicles. The advancement in design, growing trend of owing amphibious vehicles and utilization of amphibious vehicles for a variety of security applications have positively supported the growth of overall amphibious vehicles market.

The report titled “Amphibious Vehicles Market- Growth, Future Prospects and Competitive Landscape, 2021-2029” offers strategic insights into the global amphibious vehicles market with a focus on the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of market segments based on type, propulsion, applications, end-use and cross-sectional study across different geographies. The study covers the comparative analysis of each sub-segment for the years 2020-2029. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading amphibious vehicles manufacturing companies, their strategies, market positioning and key developments. Some of the major players profiled in the report include BAE Systems AB, General Dynamics Corporation, Lockheed Martin Corporation, Rheinmetall AG, Hitachi Construction Machinery Co., Ltd., Griffon Hoverwork Ltd. (GHL), Gibbs Sports Amphibians, Inc., Rinspeed AG, Cool Amphibious Manufacturers International, LLC., WaterCar, Science Applications International Corporation (SAIC), Textron, Inc., Kurganmashzavod JSC, and Hanjin Heavy Industries & Construction Co., Ltd.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the amphibious vehicles industry
• Market fuelers, market impediments, and their impact on the market growth
• Market inclination insights and key trend analysis for amphibious vehicles market
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2019 – 2020)

Overall, the research study provides a holistic view of the global amphibious vehicles market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above-mentioned factors.

In 2020, surveillance and rescue application led the overall amphibious vehicles market. Military and defense organizations have been widely using amphibious vehicles for surveillance and rescue operations. The capacities of these vehicles enable arm forces and civil defense agencies to carry out critical rescue operations in frontline missions regardless of the landscape. With continued adoption of amphibious vehicles for a variety of military applications, the amphibious vehicles market is expected to demonstrate significant growth in the following years.

The sports and recreation segment trailed the surveillance and rescue application in terms of revenue in the overall amphibious vehicles market. Increasing demand for amphibious vehicles among adventure and water sports enthusiasts has encouraged manufacturers to introduce affordable, powerful and user friendly variants of amphibious vehicles. Factors such as rise in disposable income and availability of a wide variety of vehicles are expected to drive the adoption of amphibious vehicles for sports and recreational applications.

Wheeled amphibious vehicles led the overall amphibious vehicles market in terms of revenue in 2020. Higher popularity and adoption of amphibious cars and amphibious quad vehicles have resulted in the dominance of this segment in the overall market. A variety of amphibious vehicle manufacturers have been focusing on introducing advanced cars which are equally capable of water transport. In addition, many amphibious military trucks are used for defense transportation through uneven terrains. Owing to the aforementioned factors, the wheeled amphibious vehicles segment is set to dominate the market throughout the forecast period.

Tracked vehicles trailed the wheeled amphibious vehicles in terms of revenue in the overall amphibious vehicles market. Tracked vehicles are extensively used for the military applications such as transportation of military personnel and cargo. In addition, the tracked amphibious excavators are used for excavation and research applications. However, due to limited applications, the tracked amphibious vehicles are expected to lose their market share to its wheeled variant in the following years. 

Jet propulsion amphibious vehicles led the overall amphibious vehicles market in terms of revenue. Jet propulsion offers higher efficiency and proves to be faster technique of propulsion as compared to propellers. Introduction of jet propulsion in the amphibious vehicles has provided the much needed speed which can reach up to 55 Knots. With a significant rise in utilization of amphibious vehicles for water sports, the demand for the amphibious vehicles with jet propulsion is set to witness a considerable growth throughout the forecast period from 2021 to 2029.

Propellers are used in a wide variety of military trucks and tanks as they offer better speed control and silent operation as compared to jet propulsion. However, due to their inefficiency and problems associated with propellers, the demand for such vehicles has declined considerably in the past few decades. The overall amphibious vehicles with propellers are expected to demonstrate a sluggish growth in the following years.

In 2020, the defense end-use segment dominated the overall amphibious market. Currently, amphibious vehicles play a vital role in modern day warfare. Various critical activities such as surveillance, invasions during war and rescue operations can be effectively carried out with the help of amphibious vehicles irrespective of the terrain. In addition, a variety of amphibious vehicles including wheeled, tracked and hovercrafts are extensively used for border patrol and transportation of soldiers and other military cargo. Thereby, the demand for such vehicles for military and defense applications is expected to grow consistently in the following years.

The commercial end-use segment trailed the defense end-use in the global amphibious vehicles market in terms of revenue in 2020. The demand for amphibious vehicles has been growing at a brisk pace for commercial applications such as sports and adventure, excavation, research and recreational activities. Moreover, the introduction of sophisticated and reliable amphibious vehicles has resulted into higher its higher adoption in public and tourist transportation. Thereby, the commercial end-use segment for amphibious vehicles market is set to expand consistently throughout the forecast period.

In 2020, North America dominated the overall amphibious vehicles market in terms of revenue. The amphibious vehicles market in North America is primarily driven by the demand in the U.S. Growing incorporation of amphibious vehicles in various units of the U.S. defense agencies has escalated the growth in the amphibious vehicles market in the country. In addition, rising trend of owning an amphibious vehicle among adventure enthusiasts has also been one of the key driving factor for the overall amphibious vehicles market in North America.

Europe trailed North America in the amphibious vehicles market in terms of revenue in 2020. Similar to the North American market, European countries have also recognized the potential of amphibious vehicles for military and defense applications. Consistently rising integration of amphibious vehicles for defense applications and other recreational activities such as tourist transportation and water sports have fueled the growth of amphibious vehicles market in Europe.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Amphibious Vehicles market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Amphibious Vehicles market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Amphibious Vehicles market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Amphibious Vehicles market?
• Which is the largest regional market for Amphibious Vehicles market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Amphibious Vehicles market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Amphibious Vehicles market worldwide?