According to the latest report by IMARC Group, titled, “Amphibious Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global amphibious vehicle market reached a value of US$ 2.85 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.08 Billion by 2027 exhibiting a CAGR of 9.60% during 2022-2027.

Amphibious vehicles refer to the multipurpose convertible vehicles that can be utilized on land and in water to transport passengers and cargo. They include amphibious bicycles, cars, buses, trucks, combat vehicles, railway vehicles, hovercraft, etc. Amphibious vehicles are integral in military missions as they assist in merging maritime and terrain-based operations. They are also convenient to store, affordable, require less maintenance, can be used on harsh terrains, etc. Amphibious vehicles are used for several purposes, such as during disaster relief operations and to distribute humanitarian aid.

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Market Trends

The escalating number of geopolitical conflicts and the increasing investments in the defense sector by government bodies are some of the key factors driving the amphibious vehicle market. Furthermore, the rising popularity of water adventure tourism, owing to the elevating urbanization and disposable income levels, is also catalyzing the market growth. Besides this, the expanding product utilization in the construction industry in engineering and mining projects in remote environments, including flooded areas and inaccessible terrains, is further augmenting the global market. Additionally, the inflating usage of these vehicles for dredging purposes, such as in maintaining riverbeds, swamps, lakes, ponds, reservoirs, etc., is projected to fuel the amphibious vehicle market in the coming years.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

BAE Systems plc
EIK Engineering Sdn Bhd
General Dynamics Corporation
Hydratrek Inc.
Lockheed Martin Corporation
Marsh Buggies Inc.
Remu Oy
Science Applications International Corporation
Ultratrex Machinery Sdn. Bhd.
Wetland Equipment Company
Wilco Manufacturing L.L.C.
Wilson Marsh Equipment Company.

The report has segmented the market based on mode of propulsion, application and end use.

Breakup by Mode of Propulsion:
Waterjet
Track-based
Screw Propellers
Others

Breakup by Application:
Surveillance and Rescue
Water Sports
Water Transportation
Excavation
Others

Breakup by End Use:
Defense
Commercial

Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.