30 October 2020
Amphibious Land Craft Market Report : Forecasts by Type (Land Craft Utility, Land Craft Air Cushioned, Land Craft Mechanised), by Application (Transportation, Sports, Search and Rescue, Surveillance), by End Use (Defence, Commercial) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios
Global amphibious land craft market is estimated to be valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031, growing at a CAGR of XX% from 2021 to 2031. The market growth for Amphibious Land Craft can be mainly attributed to increasing adoption of these vehicles for defense applications. Armed forces across the globe are procuring Amphibious Land Crafts for transportation of troops, weapons, artillery and armored vehicles. Increasing border disputes and terrorism has resulted in the need for advanced ships with enhanced vehicular armor to protect military assets and soldiers from causalities. In addition, major countries such as US, Russia and China have been deploying their soldier across their allied countries which is also one of the major factors resulted in the demand for Amphibious Land Crafts over the past few years and this trend is expected to continue over the forecast period.
Amphibious land craft are also increasingly used in the commercial, sport and recreational applications in some countries. Oil & gas is one of the major end users in the commercial segment which is expected to drive the market for amphibious land craft over the next ten years. Increasing transport and logistics business across the sea has resulted in the ever increasing demand for improving surveillance, security, search and rescue, and disaster relief operations across the sea.
North America is anticipated to account for the major market share in the amphibious land craft market, followed by Asia-Pacific and Europe. Major factors influencing the market for amphibious land craft also includes the development of advanced weapon systems such as hypersonic rail guns, directed energy weapons, and hypersonic missiles. Development of advanced weapon systems has resulted in a demand for advanced amphibious vehicles.
COVID-19 Impact on Amphibious Land Crafts Market
Defense is one of the major markets for amphibious land craft, which is estimated to account for XX% of the total global spending between 2021 and 2031. Defense sector is expected to fall significantly over the next three to four years due to the ongoing pandemic. COVID-19 has affected the global economies negatively during the past few months, due to which defense budgets in 2021 are anticipated to fall considerably, compare to last few years. Majority of the countries are expected to reduce their defense budget in coming years, resulting in the lower spending on the procurement of new naval ships. However, spending on the procurement of amphibious land craft for training programs is expected to have limited to no impact on the procurement during the forecast period.
Some of the company’s profiled in this report include BAE Systems PLC, Griffon Hoverwork , Textron Systems Corporation, General Dynamics Corporation, Lockheed Martin Corporation, L3 Technologies, Inc, Wetland Equipment Company , Rheinmetall AG, Marine Alutech, Garden Reach Shipbuilders and Engineers.
• Textron has recently delivered second air-cushioned landing craft to the US Navy in August 2020. This was part of company’s contract signed with US navy in April 2020, which was worth US$ 386 million for the production of 15 of such vehicles. Till now, the company has delivered two air-cushioned landing craft.
• In January 2019, Constructions industrielles de la Méditerranée (CNIM) has received a contract from French Navy to produce 14 new Standard Amphibious Landing Craft. These craft are designed to conduct several mission including weapon transport, military equipment, vehicles, and troops. These vehicles are also designed to perform evacuation mission during humanitarian missions.
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