The global demand for Hovercraft Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Hovercraft has become one of the easy and profitable means of transportation around the world. Hovercrafts are also referred as air cushion vehicles and are widely used for commercial and military applications. Hovercrafts can be operated on both land and water owing to which they find application in multiple areas. Hovercrafts are designed such that they often reach areas where conventional vehicles cannot be used. The hovercraft need both propulsion power and lift power for operating at a desired condition and speed. This can be achieved using various methods including the use of propulsors such as engines and lift fans. Depending upon their design a hovercraft is classified in various types such as: skirted hovercraft, Captured air bubble aircraft, simple plenum chamber hovercraft, sidewall hovercraft, peripheral jet hovercraft, recirculation hovercraft and trunked annular hovercraft. The hovercraft manufacturers are now focusing on designing the hovercrafts in such a way that they are capable to attain high speeds in harsh industrial and commercial environments.
Hovercrafts are most commonly used for exploring narrow waterways where conventional motorboats cannot be reached, military services, survey work and oil spill cleanup. Owing to this the demand of hovercrafts is anticipated to increase over the coming years. Moreover, hovercraft manufacturers are focusing on designing technologically advanced and lightweight hovercrafts which have high speeds and better maneuverability characteristics. This is one of the prime reasons which would attract new customers for exploring waterways and boost up the sales of hovercrafts over the forecast period. Increasing deployment of hovercrafts in military applications will further give a necessary boost to the market over the forecast period. Furthermore, many countries are focusing on investing in development of muli-passenger aircrafts. This would further increase the demand of hovercrafts for rescue purposes and promote the anticipated growth of the hovercraft market over the forecast period. Though hovercrafts are used in numerous applications, they suffer from many disadvantages including lack of lateral control, noisy operation and utilization of lot of power for operation. This decreases the working efficiency of hovercrafts and increase their operating costs. This could have a negative impact on the demand of hovercraft over the forecast period which would subsequently derail the anticipated growth of hovercraft market over the forecast period.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of hovercraft.
The entire hovercraft market has been sub-categorized into type, application and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Diesel Powered
- Gasoline Powered
- Inland Lakes and Rivers
- Inshore Coastal
This section covers regional segmentation which accentuates on current and future demand for hovercraft market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Hovercraft Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hovercraft market include Griffon Hoverwork, Christy Hovercraft, China Hovercraft Ltd, Neoteric Hovercraft, The British Hovercraft Company, Jedy Hovercraft, Hovertechnics, Viper Hovercraft. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.