Amphibious Land Craft Market Surge Towards Solid Growth by 2024
Posted: Jul 24, 2017
Global Amphibious Land Craft Market: Overview
In order to secure the coastline of the nation and to protect the seaborne trade of the nation, amphibious land crafts are being used rapidly. The land crafts are capable of carrying a myriad of combat vehicles and large troops directly to the war zone area by traveling through different terrains. These ships are equipped with medical facilities and are used in relief and assistance assignments. The land crafts are also used for commercial applications. Due to its varied applications, the land craft market is growing at a significant pace.
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Global Amphibious Land Craft Market: Segmentation
The global amphibious land craft market is segmented into its type, application, and geography. On the basis of type, the market is divided into land craft utility, land craft air cushioned, and land craft mechanized. Based on application, the market is segregated into defense and commercial applications. Diversification of the market on the basis of region is seen in North America, Europe, Asia-Pacific, and the Middle East and Africa.
Global Amphibious Land Craft Market: Growth Factors
The amphibious land craft market is a growing market owing to factors such as growing security concerns for protecting the seaborne trade activities, increasing investments made by the government, and rising demand for smaller and faster landing craft for defense and military purposes. Due the numerous benefits relating to the air cushion technology, it is widely used for civil and military applications. The land craft mechanized segment is attracting more investments though there is a general decrease in the defense budget. The land craft market is not only growing due to its military applications but also gaining a market hold due to its commercial applications. However there are factors affecting the growth of this market which include strict regulations on arms transfer and budgetary constraints.
Global Amphibious Land Craft Market: Regional Analysis
The largest share in the amphibious land craft market is held by the North American region. This can be attributed to the growing demands for air cushion and amphibious landing craft for commercial applications in the US and Canada Other regions showing a substantial growth are Europe, Asia Pacific and Middle East and Africa. Following North America in its growth will be Middle East and Africa and Asia Pacific. Their emergence in the market can be attributed to the rapid modernization, increasing investments, and rising cases of piracy especially in the Suez Canal, Gulf of Aden, the Arabian Sea and the Red Sea which has prompted the government to take actions to curb such illegal activities. Major countries included in these regions are India, China, Japan, South Korea, Australia, Taiwan, the U.A.E and Saudi Arabia. Significant growth is also seen in Europe owing to the heightened security at the sea protecting the seaborne international trade activities in Europe.
Global Amphibious Land Craft Market: Competitive Players
Some of the major companies in the amphibious land craft market are Textron Marine and Land Systems, Griffon Hoverwork Limited, CNIM, GSL, Abu Dhabi Shipbuilding Company, Moyre Shipyard, Almaz Shipbuilding, Marine Alutech, L-3 Communication, Garden Reach Shipbuilders and Engineers, Strategic Marine, General Dynamics NASSCO, and Goa Shipyard.
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