Authored By: Sarah
11 Jul 2024

 Amphibious Vehicle Market Size to grow by USD 1467.8 million between 2024-2028

According to a research report “ Amphibious Vehicle Market” by End-user (Defense, Commercial) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1467.8 million, at a CAGR of  8.51% during the forecast period. In the current geopolitical climate, military transport systems have become increasingly vulnerable to terrorist attacks, resulting in significant casualties and psychological trauma. Over the past decade, the frequency of such attacks against surface transportation targets, including military convoys, has escalated, necessitating the acquisition of advanced machinery to safeguard soldiers. Governments worldwide are investing in Armored Personnel Carriers (APCs), Infantry Fighting Vehicles (IFVs), and Amphibious Combat Vehicles (ACVs) to enhance military readiness and security. The ongoing border dispute between China and India has further accelerated the demand for armored vehicles, with major contenders being Stryker, Tata WhAP, and Humvee. Prominent nations are prioritizing modernization initiatives to ensure the highest level of safety and mission preparedness.

Browse market data tables, figures, and in-depth TOC on “Amphibious Vehicle Market” by End-user (Defense, Commercial) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample


By End-user, the Defense segment is projected to dominate the market size in 2024


By Geography, North America  segment is expected to hold the largest market size for the year 2024

The defense sector represents a significant portion of the global amphibious vehicle market, encompassing military-specific amphibious vehicles. These vehicles, often referred to as Amphibious Combat Vehicles (ACVs) or amphibious military vehicles, offer an optimal blend of land and marine mobility, survivability, and expansion capabilities. The ACV platform is engineered to accommodate evolving mission demands, incorporating advanced technologies such as Unmanned Aircraft Systems (UAS), electronic warfare, and reconnaissance systems. The historical need to transport marines from ships to land has driven the creation of versatile amphibious platforms, namely ACVs, which continue to adapt and innovate in response to technological advancements.

North America is forecasted to hold the largest market size by region in 2024

The Amphibious Vehicle Market represents a significant business opportunity, with growing demand for vehicles that can traverse both land and water. These vehicles offer unique advantages, particularly in disaster relief and military applications. Key market drivers include increasing global warming and natural calamities, leading to an increased focus on amphibious vehicles for emergency response. Additionally, technological advancements are enhancing the capabilities of these vehicles, making them more versatile and efficient. Overall, the Amphibious Vehicle Market is poised for robust growth in the coming years.

The Amphibious Vehicle Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • BAE Systems Plc
  • Bland Group
  • DAT BV
  • EIK Engineering SDN BHD
  • General Dynamics Corp.
  • Hanjin Heavy Industries and Construction Holdings Co. Ltd.
  • Hitachi Construction Machinery Co. Ltd.
  • Hydratrek Inc.
  • Lockheed Martin Corp.
  • Marsh Buggies Inc.
  • Remu Oy
  • Rheinmetall AG
  • Ultratrek Machinery SDN BHD
  • Water car
  • Wetland Equipment Co.
  • Wilco Manufacturing LLC
  • Wilson Marsh Equipment Inc.

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Research Analysis Overview

The Amphibious Vehicle Market encompasses a wide range of land and watercraft capable of traversing various aquatic environments, including amphibious landing craft, dredgers, and track-based vehicles. These vehicles find applications in diverse sectors such as environmental clean-ups, military transportation, cargo transportation, sports, and surveillance activities. In reservoirs, ponds, lakes, swamps, river beds, and other water bodies, amphibious vehicles are employed for dredging applications, removing sediments, and maintaining waterways. Advanced military systems, including amphibious excavators, are used for defense purposes, such as ammunition transportation, troop deployment, and surveillance and rescue operations. High-speed amphibious vehicles, often equipped with water jets, are increasingly being used for commercial purposes, including passenger transportation and cargo delivery. The market for amphibious vehicles is expected to grow significantly due to increasing demand for efficient water transportation, advanced military systems, and environmental conservation efforts. Autonomous amphibious vehicles are also gaining popularity due to their ability to operate in challenging terrains and reduce operational costs.

Market Research Overview

The Amphibious Vehicle Market encompasses a wide range of applications, from military forces securing sea borders to commercial enterprises engaged in waterway constructions and water sports activities. Bell Dredging and excavation activities are significant applications, with screw propellers and water jets powering these vehicles for dredging purposes. Militaries utilize amphibious vehicles for surveillance operations, border security, and military transportation, with track-based propulsion and advanced technology enhancing their versatility. The commercial segment includes cargo transportation, fire protection systems, and safety devices, while the defense segment caters to naval forces, military camps, and counter-survivability needs. Amphibious Assault Vehicles, equipped with modern electronics, electric hydroplanes, and advanced military systems, offer high-speed capabilities and autonomous functions. Amphibious vehicles find applications in various environments, from reservoirs and ponds to lakes, swamps, river beds, and mountainous terrains. Their usage extends to water transportation, surveillance and rescue, and even sports activities. With load capacities, vehicle accessories, and spare parts catering to diverse needs, this market continues to grow in response to the increasing demand for advanced military systems, countering terrorist activity, crime, and cross-border issues.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

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