Press Release

Hovercraft Market Segmentation2019-2024 : Industry Size, Type Segment, Industry Segment, Market Dynamics, and Types

Hovercraft

This “Hovercraft Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Hovercraft market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The hovercraft market is anticipated to register a CAGR of approximately 0.3% during the forecast period.
  • - The heavy load carrying capacity of the large hovercraft enables the armed forces to transport troops, military supplies, and equipment to carry out humanitarian assistance, rescue, and disaster relief missions. Such growing applications of hovercraft may propel the growth of the market during the forecast period.
  • - The advantage of hovercraft for traveling over shallow waters and terrains, irrespective of water current direction, and the costs saved in building separate harbors for these vehicles are major factors generating the demand for hovercraft during the forec
  • Hovercraft Market Covers Manufacturers:

  • Aerohod
  • AirLift Hovercraft
  • Hov Pod
  • Griffon Hoverwork Ltd
  • Textron Inc.
  • Garden Reach Shipbuilders & Engineers Ltd
  • Hovertechnics LLC
  • Ivanoff Hovercraft AB
  • Neoteric Hovercraft Inc.
  • BBV Hovercraft
  • The British Hovercraft Company
  • Universal Hovercraft
  • Scope of the Report:

  • A hovercraft (an air-cushion vehicle) is an amphibious craft that can travel over land, water, ice, mud, and other surfaces. The market study includes commercial and military hovercraft. The search and rescue missions and transportation of troops and military equipment are included in the military segment of the market.
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    Key Market Trends:

    The Military Segment is Expected to Experience the Highest Growth During the Forecast Period

    The military segment of the market is expected to register the highest CAGR during the forecast period. There has been increasing instances of territorial water zone disputes between countries and other security concerns for sea trade across the world. This led to an increasing emphasis on maritime security. This makes several countries, globally, to invest in the amphibian landing vessels, like hovercraft. Several naval forces across the world are operating these vehicles to carry troops from ships to land and to deploy them for patrolling the territorial waters. With many countries in the world sharing their borders with seas, an increase in the necessity for maritime security and patrol, search, and rescue operations, the military hovercraft market is expected to grow during the forecast period.

    Asia-Pacific is Expected to Experience the Highest Growth During the Forecast Period

    Countries in Asia-Pacific are facing territorial water zone disputes, as well as terror attacks, which have forced several countries in this region to enhance their maritime capabilities. Due to this, countries like China, India, Japan, and Indonesia, among others, are using hovercraft for border security along the borders. China has deployed patrol missions at the Xingkai Lake, a China-Russia border lake. Additionally, India announced its plans to deploy a fleet of hovercraft at Rann of Kutch for guarding the international border with Pakistan. Such initiatives by the countries with water border are propelling the growth of hovercraft market.

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    Target Audience of Hovercraft Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Hovercraft Market Report:

    • Analyzing various perspectives of the Hovercraft market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Hovercraft market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Hovercraft market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Hovercraft market studied, during the forecast period
    • The segments that are expected to dominate the Hovercraft market studied.

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