Amphibious landing is a complex military operation that takes place in the defense industry. Coordination of the military assets is vital in order to establish the connection with the troops. Mechanized and landing crafts are being used since Second World War. However, the technology and utilization of these technologies is changing with the passing time. The global amphibious landing craft market is expected to witness steady growth in terms of revenue and demand. Demand from developing regions and advancing technologies are set to help the industry maintain steady demand rate for the next four to five years. New investments and expansion of existing technologies are also expected to create better business opportunities for the industry.
Overview of Amphibious Landing Craft Market
The global amphibious landing craft market is segmented on the basis of the types of products, applications and geographic regions. The geographic regions are further sub-segmented into different regions and countries. Based on regions, the industry is divided into Europe, North America, Asia Pacific, Latin America, Middle East and the rest of the world. The most prominent countries researched by the experts include US, UK, UAE, Canada, Germany, France, Russia, India, Japan, China, Taiwan, Australia, Saudi Arabia, Brazil and such other countries. The products segment is divided into utility landing crafts, mechanized landing crafts and air cushion landing crafts. The applications of these crafts are ranged across commercial and defense industries.
Growth and Drivers
Growth in demand is expected to be the crucial determining factor for the amphibious landing craft market. Changes in demand are set to reflect in the changing patterns of adoption and manufacturing in the industry. Technological advancements on the other hand are setting trends and forcing the customers to upgrade to the advanced crafts. Advanced crafts with the ability to move across different terrains and changing size and ability to carry the troops and equipment with leading to the least amount of damage to the equipment as well as reducing the casualties. Rising demand from emerging markets is also expected to create growth opportunities in the industry.
According to the latest research, the global amphibious landing craft market is set to grow at a slow yet steady CAGR, which is expected to take the industry to $10,878.68 million by the end of the year 2019. As of in 2014, the industry is poised at $10,750.20 million. According to the forecasting reports, North America is set to dominate the global market. Developing countries on the other hand are also expected to witness positive growth during the forecasting period.