Hovercraft Market By Size, By Propulsion, By End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market

CHAPTER 4: HOVERCRAFT MARKET, BY SIZE
4.1 Overview
4.1.1 Market size and forecast
4.2 Less than 10m
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Between 10m and 20m
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Greater than 20m
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country

CHAPTER 5: HOVERCRAFT MARKET, BY PROPULSION
5.1 Overview
5.1.1 Market size and forecast
5.2 Diesel powered
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Gasoline powered
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Others
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country

CHAPTER 6: HOVERCRAFT MARKET, BY END USE
6.1 Overview
6.1.1 Market size and forecast
6.2 Passenger Transport and Tourism
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Cargo Transportation
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
6.4 Defense
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market share analysis by country
6.5 Search and Rescue
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market share analysis by country
6.6 Others
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market share analysis by country

CHAPTER 7: HOVERCRAFT MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Size
7.2.3 North America Market size and forecast, by Propulsion
7.2.4 North America Market size and forecast, by End Use
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Key market trends, growth factors and opportunities
7.2.5.1.2 Market size and forecast, by Size
7.2.5.1.3 Market size and forecast, by Propulsion
7.2.5.1.4 Market size and forecast, by End Use
7.2.5.2 Canada
7.2.5.2.1 Key market trends, growth factors and opportunities
7.2.5.2.2 Market size and forecast, by Size
7.2.5.2.3 Market size and forecast, by Propulsion
7.2.5.2.4 Market size and forecast, by End Use
7.2.5.3 Mexico
7.2.5.3.1 Key market trends, growth factors and opportunities
7.2.5.3.2 Market size and forecast, by Size
7.2.5.3.3 Market size and forecast, by Propulsion
7.2.5.3.4 Market size and forecast, by End Use
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Size
7.3.3 Europe Market size and forecast, by Propulsion
7.3.4 Europe Market size and forecast, by End Use
7.3.5 Europe Market size and forecast, by country
7.3.5.1 UK
7.3.5.1.1 Key market trends, growth factors and opportunities
7.3.5.1.2 Market size and forecast, by Size
7.3.5.1.3 Market size and forecast, by Propulsion
7.3.5.1.4 Market size and forecast, by End Use
7.3.5.2 Germany
7.3.5.2.1 Key market trends, growth factors and opportunities
7.3.5.2.2 Market size and forecast, by Size
7.3.5.2.3 Market size and forecast, by Propulsion
7.3.5.2.4 Market size and forecast, by End Use
7.3.5.3 France
7.3.5.3.1 Key market trends, growth factors and opportunities
7.3.5.3.2 Market size and forecast, by Size
7.3.5.3.3 Market size and forecast, by Propulsion
7.3.5.3.4 Market size and forecast, by End Use
7.3.5.4 Italy
7.3.5.4.1 Key market trends, growth factors and opportunities
7.3.5.4.2 Market size and forecast, by Size
7.3.5.4.3 Market size and forecast, by Propulsion
7.3.5.4.4 Market size and forecast, by End Use
7.3.5.5 Rest of Europe
7.3.5.5.1 Key market trends, growth factors and opportunities
7.3.5.5.2 Market size and forecast, by Size
7.3.5.5.3 Market size and forecast, by Propulsion
7.3.5.5.4 Market size and forecast, by End Use
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Size
7.4.3 Asia-Pacific Market size and forecast, by Propulsion
7.4.4 Asia-Pacific Market size and forecast, by End Use
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Key market trends, growth factors and opportunities
7.4.5.1.2 Market size and forecast, by Size
7.4.5.1.3 Market size and forecast, by Propulsion
7.4.5.1.4 Market size and forecast, by End Use
7.4.5.2 Japan
7.4.5.2.1 Key market trends, growth factors and opportunities
7.4.5.2.2 Market size and forecast, by Size
7.4.5.2.3 Market size and forecast, by Propulsion
7.4.5.2.4 Market size and forecast, by End Use
7.4.5.3 India
7.4.5.3.1 Key market trends, growth factors and opportunities
7.4.5.3.2 Market size and forecast, by Size
7.4.5.3.3 Market size and forecast, by Propulsion
7.4.5.3.4 Market size and forecast, by End Use
7.4.5.4 South Korea
7.4.5.4.1 Key market trends, growth factors and opportunities
7.4.5.4.2 Market size and forecast, by Size
7.4.5.4.3 Market size and forecast, by Propulsion
7.4.5.4.4 Market size and forecast, by End Use
7.4.5.5 Rest of Asia-Pacific
7.4.5.5.1 Key market trends, growth factors and opportunities
7.4.5.5.2 Market size and forecast, by Size
7.4.5.5.3 Market size and forecast, by Propulsion
7.4.5.5.4 Market size and forecast, by End Use
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Size
7.5.3 LAMEA Market size and forecast, by Propulsion
7.5.4 LAMEA Market size and forecast, by End Use
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Key market trends, growth factors and opportunities
7.5.5.1.2 Market size and forecast, by Size
7.5.5.1.3 Market size and forecast, by Propulsion
7.5.5.1.4 Market size and forecast, by End Use
7.5.5.2 Middle East
7.5.5.2.1 Key market trends, growth factors and opportunities
7.5.5.2.2 Market size and forecast, by Size
7.5.5.2.3 Market size and forecast, by Propulsion
7.5.5.2.4 Market size and forecast, by End Use
7.5.5.3 Africa
7.5.5.3.1 Key market trends, growth factors and opportunities
7.5.5.3.2 Market size and forecast, by Size
7.5.5.3.3 Market size and forecast, by Propulsion
7.5.5.3.4 Market size and forecast, by End Use

CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Players
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments

CHAPTER 9: COMPANY PROFILES
9.1 Griffon Hoverwork Ltd
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 The British Hovercraft Company
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Vanair Hovercraft
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Universal Hovercraft Of America Inc.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Hovertechnics
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Textron Inc.
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Airlift Hovercraft Pty Ltd
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Garden Reach Shipbuilders And Engineers
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Aerohod Ltd.
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Neoteric Hovercraft, Inc.
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments

Executive Summary

The Hovercraft Market is likely to experience a growth rate of 4.1% from 2022-2031 owing to increasing market demand from the passenger transport and tourism sector.

A hovercraft can be defined as an amphibious vehicle, which has the ability to travel over land, mud, ice, and water. Moreover, hovercraft has several advantages such as terrain independence, all-weather capability, speed, and efficiency. Furthermore, hovercrafts are utilized for passenger transportation, tourism, search & rescue missions, and others.

Significant factors that impact growth of the hovercraft market include increase in adoption of hovercrafts for recreational applications, rise in use of hovercrafts for commercial applications, and greater investment on hovercrafts from the defense sector. However, high initial and maintenance costs associated with hovercrafts and operational limitations of hovercrafts restrict the growth of the global hovercraft market. Furthermore, rise in demand for hovercrafts from developing countries and technological advancements would provide growth opportunities in the global hovercraft market in the coming years.

Emerging economies such as India, China, and other countries are consistently investing in their defense sector to enhance their military capabilities at land and water borders. In addition, these emerging countries are also focusing on procuring advanced amphibious vehicle such as hovercrafts. Owing to this, several countries are awarding contracts to manufacture and deliver hovercrafts. For instance, in 2022, Sheikh Hasina, Prime Minister of Bangladesh, announced that Bangladesh government is planning to induct high-tech ships, hovercraft and speedboats to the Bangladesh Coast Guard to make the maritime law enforcement stronger. Such initiatives for procuring hovercrafts implies that there is a growing demand for hovercraft from emerging economies, which in turn is expected to provide remarkable opportunities for the market players during the forecast period.

The hovercraft market is segmented on the basis of propulsion, size, end use, and region. By propulsion, it is classified into diesel powered, gasoline powered, and others. By size, it is fragmented into less than 10m, between 10m & 20m, and greater than 20m. By end use, it is categorized into passenger transport & tourism, cargo transportation, defense, search & rescue, and others. By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The key players profiled in the study include Griffon Hoverwork Ltd, The British Hovercraft Company, Vanair Hovercraft, Universal Hovercraft of America Inc., Neoteic Hovercraft, Hovertechnics, Textron Inc., AirLift Hovercraft, Garden Reach Shipbuilders and Engineers, and Aerohod Ltd. The players in the market have been actively engaged in the adoption of various strategies such as acquisition, product launch and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in June 2021, Textron Systems, a subsidiary of Textron Inc. signed a contract with U.S. Navy. Under this contract, Textron Systems delivered LCAC 102, the third Ship-to-Shore Connector (SSC) to the US Navy during a Fly Away event in Panama City.

Key Market Insights

By size, the less than 10m segment was the highest revenue contributor to the market, and is estimated to reach $209.6 million by 2031, with a CAGR of 3.6%. However, between 10m and 20m segment is estimated to be the fastest growing segment with the CAGR of 5.3% during the forecast period.

By propulsion, the diesel-powered segment dominated the global market, and is estimated to reach $241.3 million by 2031, with a CAGR of 3.8%. However, the others segment is expected to be the fastest growing segment during the forecast period.

Based on end use, the defense segment was the highest revenue contributor to the market, with $134.9 million in 2021, and is estimated to reach $189.4 million by 2031, with a CAGR of 3.5%.

Based on region, North America was the highest revenue contributor, accounting for $99.8 million in 2021, and is estimated to reach $136.5 million by 2031, with a CAGR of 3.3%.

Companies Mentioned

• Griffon Hoverwork Ltd.
• the British Hovercraft Company Limited
• Vanair Hovercraft
• Universal Hovercraft of America Inc.
• Hovertechnics
• Textron Inc.
• Airlift Hovercraft Pty Ltd.
• Garden Reach Shipbuilders and Engineers
• Aerohod Ltd.
• Neoteric Hovercraft, Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.