This Hovercraft market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Hovercraft market.
Hovercraft Market: Introduction
Hovercrafts have become one of the comfortable and profitable means of transportation in many countries around the world. Hovercrafts are also referred as air cushion vehicles and are extensively used for military and commercial applications. A hovercraft is a vehicles which is specially designed, to be wholly or partially supported, at least some of the time during their travel over the surface by a thin cushion or film of gaseous fluid which is generally air. The air is supplied continuously at a rate which is enough to maintain the supporting pressure of the cushion of the air retained below the surface of hovercraft. The hovercraft need both propulsion power and lift power for operating at a desired condition and speed. This can be achieved using various methods including the use of propulsors such as engines and lift fans. Depending upon their design a hovercraft is classified in various types such as: skirted hovercraft, Captured air bubble aircraft, simple plenum chamber hovercraft, sidewall hovercraft, peripheral jet hovercraft, recirculation hovercraft and trunked annular hovercraft. The hovercraft manufacturers are now focusing on designing the hovercrafts in such a way that they are capable to attain high speeds in harsh industrial and commercial environments.
Hovercraft Market: Market dynamics
Hovercrafts can be operated on both land and water owing to which they find application in multiple areas. Hovercrafts are designed such that they often reach areas where conventional vehicles cannot be used. Hovercrafts are most commonly used for exploring narrow waterways where conventional motorboats cannot be reached, military services, survey work and oil spill cleanup. Owing to this the demand of hovercrafts is anticipated to increase over the coming years. This will ramp up the hovercrafts market over the forecast period. Moreover, hovercraft manufacturers are focusing on designing technologically advanced and lightweight hovercrafts which have high speeds and better maneuverability characteristics. This is one of the prime reasons which would attract new customers for exploring waterways and boost up the sales of hovercrafts over the forecast period. Increasing deployment of hovercrafts in military applications will further give a necessary boost to the market over the forecast period. Furthermore, many countries are focusing on investing in development of muli-passenger aircrafts. This would further increase the demand of hovercrafts for rescue purposes and promote the anticipated growth of the hovercraft market over the forecast period.
Though hovercrafts are used in numerous applications, they suffer from many disadvantages including lack of lateral control, noisy operation and utilization of lot of power for operation. This decreases the working efficiency of hovercrafts and increase their operating costs. This could have a negative impact on the demand of hovercraft over the forecast period which would subsequently derail the anticipated growth of hovercraft market over the forecast period.
Hovercraft Market: Regional Outlook
Hovercraft market is anticipated to boost up in Western Europe, owing to increasing involvement of multinational conglomerates in designing quieter and high speed hovercrafts which can be used for commercial purposes along with transportation of passengers. This will increase the demand of hovercrafts in Western European countries over the assessment period. In Middle East and Africa many governments of Middle East region are increasingly focusing on designing more efficient hovercrafts for military applications. This will further increase the sales of hover craft in the said region over the forecast period. The market is anticipated to have a moderate growth on the North America and APEJ region over the assessment period.
Hovercraft Market: Key Participants
- Textron Systems
- ALMAZ Shipbuilding Company
- Griffon Hoverwork
- AirLift Hovercraft
- The British Hovercraft Company
- Neoteic Hovercraft
- Hovertrans Solutions
- Garden Reach Shipbuilders & Engineers
- Feodosia Shipbuilding Company
- Vanair Hovercraft
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Hovercraft Market: Market Segmentation
On the basis of Application, global hovercraft market can be segmented into:
- Military and Marine
On the basis of Design, global hovercraft market can be segmented into:
- Skirted hovercraft
- Captured air bubble hovercraft
- Simple plenum chamber hovercraft
- Sidewall hovercraft
- Peripheral jet hovercraft
- Recirculation hovercraft
- Trunked annular hovercraft
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
Frequently Asked Questions
What research methodology is used to develop the Hovercraft Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Hovercraft Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Hovercraft Market report?
In addition to up-to-date market figures and customized of the Hovercraft Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.