Air Cushion Vehicle Market Estimated to Witness High Growth Owing...

Air Cushion Vehicle Market Estimated to Witness High Growth Owing to Growing Military Applications

Posted 2024-09-12 09:29:01

390

Air cushion vehicles or hovercrafts are amphibious vehicles that can travel on both land and water. They are equipped with large fan(s) that provide a cushion of air below the vehicle for buoyancy when moving over water or other surfaces. Hovercrafts are primarily used for passenger and cargo transportation across bodies of water. Their ability to cross terrain and surface types rapidly without requiring infrastructure like roads or runways makes them versatile for both commercial and military applications.

The global air cushion vehicle market is estimated to be valued at US$ 127.22 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031.

Key players operating in the air cushion vehicle market include 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 Takeaways

Key players operating in the air cushion vehicle market:

Key players in the market include well-established companies that have been designing and manufacturing hovercrafts for decades. Some of the prominent players are Griffon Hoverwork, known for its passenger and military hovercrafts, and Aerohod, a leader in Russian military hovercraft development.

Key opportunities in the market:

Growing applications of hovercrafts for passenger transport, military operations, Air Cushion Vehicle Market Demand Development of advanced materials and propulsion technologies to improve payload capacity and range is also anticipated to offer new opportunities.

Global expansion of the market:

North America and Europe currently dominate the market. However, growing defense budgets and coastal surveillance needs in Asia Pacific are likely to boost the adoption of hovercrafts in the region. Countries like India, China, and Japan are procuring military hovercrafts in increasing numbers.

Get More Insights On, Air Cushion Vehicle Market

Explore More Article On, Premium Headphones Market

For More Insights Discover the Report In language that Resonates with you

· French

· German

· Italian

· Russian

· Japanese

· Chinese

· Korean

Portuguese