An amphibious vehicle is a mode of transportation that can travel on water as well as on land. The various amphibious vehicle commonly is use are busses, trucks, hovercrafts, aircrafts, tanks, and military vehicles among others.
The amphibious vehicles are heavily used by the military forces across the globe in order to secure the sea borders from increasing conflicts via sea. Due to this, the military forces are procuring amphibious vehicles for the surveillance and rescue purpose, which is propelling the market for amphibious vehicle market to grow in future. Moreover, the increasing water transportations and water sports activities have led the commercial amphibious manufacturers to develop technologically latest water vehicles in order to support the surging demand from the commercial sectors. This factor is impacting positively on the growth of amphibious vehicle market.
The major limitation of the amphibious vehicle market is the need for seasonal serviceability. The enhanced technology integrated in an amphibious vehicle requires time to time maintenance, which incurs high cost. Owing to this fact, the commercial sectors are limiting their procurement of amphibious vehicle, which is in turn inhibiting the market to grow in future.
Increase in defense budgets in the emerging economies in the world is acting as a growth opportunity factor for the amphibious vehicle market. Countries such as Russia, Germany, India, Japan, and Saudi Arabia among others are investing huge amounts in development of robust amphibious vehicles for military and commercial sectors in order to meet their demands.
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The amphibious vehicle market is also poised to expand in future due to increase in usage of landing crafts that can operate on land as well as water. These amphibious landing crafts are being heavily adopted by the U.S army and other major defense forces worldwide, which is propelling the growth of the market.
The amphibious vehicle market is segmented on basis of propulsion systems, application, end users and geography. The different types of propulsion systems in amphibious vehicles are water jet, track based, screw propellers and others. The track based propulsion systems are the most widely used propulsion systems in amphibious vehicle due to their benefit of moving at a faster speed on water and land. Surveillance and rescue, water sports, water transportation, and excavation constitutes the application segment of the amphibious vehicle market.
