Military Hovercraft Market Analysis, Status and Business Outlook 2019 to 2024

Military Hovercraft market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.

The Military Hovercraft market is expected to grow with a CAGR of around 0.3% during the forecast period.

The Military Hovercraft market is highly competitive and consists of a number of major players. Top Companies like Aerohod, AirLift Hovercraft, ALMAZ, Griffon Hoverwork, Textron, Garden Reach Shipbuilders & Engineers, Hovertechnics, Hovertrans Solutions, Neoteric Hovercraft, Feodosia Shipbuilding Company, The British Hovercraft Company, Universal Hovercraft among others

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Scope of the Report

The global military expenditure experienced an increase of 1.1 % from 2016 to reach USD 1,739 billion in 2017. The main reason for this growth in expenditure being the conflicts among various countries and various security threats imposed externally and internally, the increasing terrorism, several border security issues, the volatile relations among the nations, and various technological advancements in the defense field.

Key Market Trends

There has been increasing instances of territorial water zone disputes between countries and other security concerns for sea trade across the world. This led to the increasing emphasis on maritime security. This makes several countries globally to invest in the amphibian landing vessels like hovercraft. Many navies across the globe are operating these vehicles to carry troops from ships to land and to deploy them for patrolling the territorial waters. Hovercraft are also used for search and rescue operations in different terrains like sea, sand, and ice. For enhancing their combat capabilities, the manufacturers are equipping them with weapons like rifles, machine guns, and grenade launchers. In June 2018, India approved the plans to acquire Griffon 8000TD hovercraft for the countrys coastguard, army; for maritime surveillance, search and rescue operations. Following this, in July 2018, Indian Coast Guard deployed one of their hovercraft to patrol the coastlines of Andhra Pradesh, Odisha, and West Bengal for coastal patrol, search and rescue operations, maritime surveillance, and to provide assistance to fishermen in distress. The hovercraft was also be used in ‘Operation Oliva’ to counter illegal sea fishing along the Odisha coast and also to protect endangered Olive Ridley sea turtles. With many nations in the world sharing their borders with seas, and increase in the necessity for maritime security and patrol, search, and rescue operations, the military hover market is expected to grow during the forecast period.

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What are the market factors that are explained in the report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Analytical Tools: Military Hovercraft Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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