Air Cushion Vehicle Market is Anticipated to Witness High Growth Owing to Growing Demand
The air cushion vehicle market involves vehicles that use a plenum chamber and powerful fan/impeller to hover above land or water on a cushion of high-pressure air. Air cushion vehicles have advantages such as high speed, ability to travel over ice, mud, swampy land, and shallow water. The need for high speed transportation that can operate independent of terrain conditions is driving demand for air cushion vehicles.
The Global air cushion vehicle market is estimated to be valued at US$ 174.72 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the air cushion vehicle market are Aerohod, ALMAZ, Griffon Hoverwork, Christy Hovercraft, China Hovercraft Ltd, Neoteric Hovercraft, The British Hovercraft Company, Jedy Hovercraft, Hovertechnics, Viper Hovercraft, Mariah Hovercraft, Vanair Hovercraft, Mercier-Jones, and Hoverstream. Key players are focusing on new product launches and enhancing existing product portfolio to meet growing demand from military and civilian applications.
The key opportunities in the Air Cushion Vehicle Market Demand include rising maritime tourism and increasing preference for high speed transportation over water. The increasing investments by governments and private players to develop high speed water transportation is expected to boost the demand for air cushion vehicles globally.
The global expansion in the market is driven by growing demand from emerging economies of Asia Pacific and Latin America. Key players are focusing on expanding distribution network in developing regions to tap into new revenue streams.
Get more insights, On Air Cushion Vehicle Market
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Romaian