NEW YORK, Nov. 16, 2023 /PRNewswire/ — The amphibious landing craft market is expected to grow by USD 589.97 million from 2023 to 2028. However, the growth momentum of the market will progress at a CAGR of 2.78% during the forecast period. The market is segmented by application (military and commercial), type (amphibious ACVs and APCs, air cushion vehicles, and LCU and LCM), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The need to upgrade capabilities to counter emerging threats to drive market growth. Military transport systems are susceptible targets of terrorist organizations. This has encouraged governments to provide advanced alternative transportation systems for the protection of soldiers, such as assault amphibious vehicles (AAVs). Furthermore, to achieve a more enhanced level of safety and mission readiness, most major nations have been launching modernization initiatives for their landing craft fleets.
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Key Highlights:
- The report recognizes the following as some of the key players in the amphibious landing craft market: Abu Dhabi Ship Building PJSC, Almaz Shipbuilding Co., BAE Systems Plc, Bland Group, CNH Industrial NV, CNIM SA, Damen Shipyards Group, Fincantieri Spa, Goa Shipyard Ltd., Huntington Ingalls Industries Inc., L3Harris Technologies Inc., Marine Alutech Oy Ab, Marine Inland Fabricators, Navantia SA, Rostec, Singapore Technologies Engineering Ltd., Strategic Marine S Pte Ltd., Textron Inc., Wetland Equipment Co., and Wilco Manufacturing LLC
- Amphibious Landing Craft Market is fragmented in nature.
- Market to observe 2.52% YOY growth in 2024.
Market Dynamics:
Major Trend
- Integration of directed-energy weapons (DEWs) is a major trend in the market.
- The race to dominate the battlefield has been strengthened by the emergence of advanced weaponry in countries like the US and Russia.
- A new era of technical developments, which is to be consolidated into amphibious landing craft, has been ushered in by the emergence of technologies such as hypersonic missiles, Hypersonic rail guns, and DEW.
Significant Challenge
- High R&D and operational costs resulting in the cancellation of ongoing projects is a significant challenge restricting market growth.
- It could cost billions of dollars to develop a new design for an amphibious landing craft.
- These incidents have a critical impact on the revenue stream and the reach of global amphibious landing craft manufacturers, and the resulting costs can be experienced for years to come.
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Keg Segments:
- The market share growth by the military segment will be significant during the forecast period. This growth is attributable to a growing number of governments worldwide, including the US, China, Japan, Australia, and others, spending more on defense. It is commonly referred to as an amphibious combat vehicle or an amphibious military vehicle when used for defense purposes. ACVs are in the optimum balance between land and maritime mobility, survival capacity, and growth potential.
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Amphibious Landing Craft Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.78% |
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Market growth 2024-2028 |
USD 589.97 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
2.52 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 29% |
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Key countries |
US, China, Russia, France, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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SOURCE Technavio
