Air-cushion Vehicle Market: Introduction

Air-cushion vehicle (ACV) is a craft designed to travel close to but above the ground or water. It is also called a ground-effect machine or Hovercraft. Some of these vehicles have a specially designed wing that lift them just off the surface over which they travel when they have reached a sufficient horizontal speed. Other ACVs are supported by fans that force air down under the vehicle to create lift.

Key Drivers of Air-cushion Vehicle Market

  • The global market for air-cushion vehicle is expanding at a moderate pace owing to a rise in defense expenditure by governments of countries across the globe. Global defense spending reached US$1.83 trillion in 2020, a 3.9% annual increase in real terms. As a proportion of GDP, global spending sharply increased from an average of 1.85% in 2019 to 2.08% in 2020, as military budgets were maintained, despite severe economic contractions caused by the coronavirus pandemic and the series of lockdowns introduced around the world in response.
  • Increasing applications of air-cushion vehicles is a key factor boosting the market. Traditional air-cushion vehicles were utilized to transport equipment and troops from ships to beaches or war zones. However, the air-cushion vehicle industry has witnessed the production of advanced landing craft that can travel on several types of terrain such as ice and sand. Moreover, the use of air-cushion vehicles for commercial purposes, such as ferrying passengers and personal use for fishing, transport, and recreational purposes, is increasing.

Restraints of Air-cushion Vehicle Market

  • Penetration of air-cushion vehicle differs from country to country. Economically developed countries tend to have a high penetration of these technologies across various passenger and commercial vehicle, while developing countries have lower penetration due to the cost factor.

Opportunities in Air-cushion Vehicle Market

  • Emerging countries of Asia Pacific and Middle East are expected to offer significant opportunity for the air-cushion vehicle market. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period, with Japan, Malaysia and Thailand being key contributors to the market. Southeast Asia, in particular, is witnessing significant increase in demand in both sales and renting owing to the emergence of high net worth individuals who are being exposed to sea tourism.
  • In the Middle East, Dubai is emerging as a highly popular tourist destination. Marine docks and harbors are being developed around the country to cater to the increasing number of customers indulging in water sporting. This is projected to boost the air-cushion vehicle market during the forecast period.

Europe holds Significant Share of Global Air-cushion Vehicle Market

  • Based on region, the global air-cushion vehicle market can be split into Asia Pacific, Middle East & Africa, Europe, Latin America, and North America. The market in Europe is expected to expand at a moderate pace, as several multinational manufacturing conglomerates are designing efficient, rapid, and less noisy air-cushioned vehicles, which in turn is expected to fuel the demand for air-cushioned vehicles during the forecast period. Moreover, countries such as India, the U.S., and China invest large amount of their GDPs in defense services, which in turn is anticipated to boost the air-cushion vehicle market in these countries. In Middle East & Africa, several countries such as the UAE and Saudi Arabia in the Middle East are focused on the design and development of more efficient, rapid, and advanced air-cushioned vehicles for military applications. Some countries share their coastal boundaries with several countries, which can be a reason to adopt air-cushioned vehicles along their coastlines in order to maintain security.

Key Players Operating in Air-cushion Vehicle Market

The global air-cushion vehicle market is moderately consolidated with the presence of top manufacturers. A few of the key players operating in the global air-cushion vehicle market are:

  • Aerohod
  • Griffon Hoverwork
  • ALMAZ Shipbuilding Company
  • Textron Systems
  • Neoteic Hovercraft
  • The British Hovercraft Company
  • Vanair Hovercraft
  • Hovertechnicsa
  • Garden Reach Shipbuilders & Engineers
  • Hovertrans Solutions
  • AirLift Hovercraft

Global Air-cushion Vehicle Market: Research Scope

Global Air-cushion Vehicle Market, by Type

  • Fully skirted
  •  Sidewall

Global Air-cushion Vehicle Market, by Application

  • Military
  • Rescue
  • Recreational
  • Commercial

Global Air-cushion Vehicle Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Air Cushion Vehicle Market