Hovercraft Market Size Is Determined To Cross A Value Of $ U...| MENAFN.COM

Friday, 02 December 2022 10:49 GMT

Hovercraft Market Size Is Determined To Cross A Value Of $ USD 172.1 Billion By 2027


(MENAFN- Ameliorate Digital Consultancy)

The study on the global market for Hovercraft Market evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market for global significantly.

Global Hovercraft Market to reach USD 172.1 billion by 2027.Global Hovercraft Market is valued approximately at USD 148.8 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.1% over the forecast period 2021-2027.

Request a sample of this premium report at:

Hovercrafts have become one of the most comfortable and profitable means of transportation in many countries around the world. Hovercrafts are known as air cushion vehicles, are widely employed for both military and commercial purposes. For efficient operation, hovercraft requires both propulsion and lift power. This can be accomplished in a number of ways, including the employment of propulsors like engines and lift fans. The market is driven by growing applications of hovercraft in the commercial and military sector and growing adoption for recreational purposes. In recent years, the US Navy has stated interest in newer generation hovercraft and has placed an order with Textron. The US Navy has granted Textron a contract costing USD 386 million to manufacture an extra 15 hovercrafts. The contract was granted as part of the Ship-to-Shore Connector (SSC) Program, also known as the LCAC 100 class, which is replacing a fleet of landing Craft Air Cushions (LCAC) vehicles that are approaching the end of their 30-year service life. Work on the project is now underway in New Orleans, Louisiana, and is projected to be finished in January 2025. However, Lack of lateral control and noisy operation of the vehicle, may impede market growth over the forecast period of 2021-2027.

Europe region is likely to have the fastest development during the projection period due to an improved level of life and the consequences of climate change, also, growing adoption of hovercraft from both commercial and military end-users. Transportation of products, surveillance and rescue, and support for counter-narcotics actions are all used by law enforcement and border troops in the region.

Major market player included in this report are:

Ivanoff Hovercraft AB

Aerohod Ltd

Neoteric Hovercraft Inc.

Airlift Hovercraft Pty Ltd

Griffon Hoverwork Ltd

CHRISTY HOVERCRAFT

Hovertechnics LLC

Textron Inc.

Bill Baker Vehicles Ltd

MAD Hovercraft

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Design:

Skirted Hovercraft

Captured Air Bubble Hovercraft

Simple Plenum Chamber Hovercraft

Sidewall Hovercraft

Peripheral Jet Hovercraft

Recirculation Hovercraft

Trunked Annular Hovercraft

By Application:

Military and Marine

Commercial

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

For More Details on this Report At:

About Us:

Market Study Report is a hub for market intelligence products and services.

We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

Our customers partner with Market Study Report to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.

If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report is the platform that can help you in achieving any of these objectives.

MENAFN09082022004660010643ID1104667517


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.