Global Light Hovercraft Market by Product Types, Fuel, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.
The global light hovercraft market was valued at USD 500 million in 2019 and is projected to reach over USD 600 million by 2026, expanding at a CAGR of more than 2% during the forecast period, 2020–2026. The growth of the market is attributed to its various advanced capabilities as compared to the traditional vehicles.
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A hovercraft, also called as an air-cushion vehicle or ACV, is a land and water capable specialty equipped craft for going over land, water, mud, ice, and different surfaces. Air cushion vehicle use blowers to deliver a huge volume of air beneath the body, or air pad that is above air pressure. The weight distinction between the higher weight air beneath the structure and lower pressure encompassing air above it produces lift, which makes the frame float over the running surface. For steadiness reasons, the air is regularly blown through openings or gaps around the outside of a circle or oval-molded stage, giving most air cushion vehicle a trademark adjusted square shape. Regularly this pad is contained inside an adaptable “skirt”, which permits the vehicle to go over little impediments without harm.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising regional water territories issues and security worries is driving the growth of the market.
- Growing commercial applications such as ferrying passengers and personal usage is a favorable factor driving the market growth.
- Rising cost of oil prices increased its cost of operation which in turn is acting as a restraint for the growth of the market.
- Increasing availability of alternative vehicles is a restraint in the market growth.
- The unexplored markets of emerging economies and the use of latest technologies are opportunities for the growth of the market.
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Competitive Landscape:
Some of the other key players operating in the market include Griffon Hoverwork, ALMAZ Shipbuilding Company, Textron Systems, Neoteic Hovercraft, The British Hovercraft Company, Vanair Hovercraft, ALMAZ, Hovertechnicsa, Garden Reach Shipbuilders & Engineers, Hovertrans Solutions, AirLift Hovercraft, Universal Hovercraft, and Feodosia Shipbuilding Company. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.
The global light hovercraft market has been segmented on the basis of
Product Types
- Skirted
- Side-walled
Fuel
- Diesel Powered
- Gas Powered
- Others
Applications
- Civilian-based
- Military-based
Regions
- Asia Pacific
- China
- India
- Japan
North America
- S.
- Canada
Latin America
- Brazil
- Mexico
Europe
- Germany
- K.
- France
Middle East & Africa
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Light Hovercraft Market Overview
- Global Light Hovercraft Market Analysis and Forecast by Type
- Global Light Hovercraft Market Analysis and Forecast by Application
- Global Light Hovercraft Market Analysis and Forecast by Sales Channel
- Global Light Hovercraft Market Analysis and Forecast by Region
- North Light Hovercraft Market Analysis and Forecast
- Latin Light Hovercraft Market Analysis and Forecast
- Europe Light Hovercraft Market Analysis and Forecast
- Asia Pacific Light Hovercraft Market Analysis and Forecast
- Middle East & Africa Light Hovercraft Market Analysis and Forecast
- Competition Landscape
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