Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Amphibious Vehicle Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the Amphibious Vehicle Market?
The amphibious vehicle market has seen significant growth lately. It is projected to expand from $4.11 billion in 2024 to $4.39 billion in 2025, showing a compound annual growth rate (CAGR) of 7.0%.
What Is the Forecasted CAGR for the Amphibious Vehicle Market by 2029?
The Amphibious Vehicle Global Market is projected to reach a market size of $6.51 billion in 2029, growing at a compound annual growth rate (CAGR) of 10.3%.
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What Are the Market Drivers in the Amphibious Vehicle Industry?
The key drivers in the amphibious vehicle market are:
• Rising interest in amphibious sports and urban development near water bodies
• Advancements in material technology and modernization of commercial fishing
• Implementation of smart city initiatives and increasing environmental conservation awareness
• Increased public education and awareness, along with growth in collaborations and partnerships.
What Is the Segment-Wise Breakdown of the Amphibious Vehicle Market?
The amphibious vehicle market covered in this report is segmented –
1) By Propulsion: Waterjet, Track-Based, Screw Propellers, Other Propulsions
2) By Application: Surveillance And Rescue, Water Sports, Water Transportation, Excavation, Other Applications
3) By End Use: Defense, Commercial
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Which Emerging Trends Are Driving Growth in the Amphibious Vehicle Sector?
The key trends in the amphibious vehicle market are:
• Environmentally friendly designs are a growing trend in the amphibious vehicle market.
• The use of amphibious vehicles for commercial shipping and logistics is becoming more prevalent.
• Autonomous amphibious vehicles are being developed, signifying a trend for increased automation in the market.
• There is a rise in customized amphibious vehicles for specific applications, as well as increased collaborations and partnerships in the industry.
Which Companies Are Dominating the Amphibious Vehicle Market in Terms of Revenue?
Major players in the amphibious vehicle market are:
• BAE Systems PLC
• General Dynamics Corporation
• Lockheed Martin Corporation
• Rheinmetall Aktiengesellschaft
• Science Applications International Corporation Inc.
• Textron Inc.
• JSC Kurganmashzavod
• Hitachi Construction Machinery
• Wilco Manufacturing Limited
• Wetland Equipment Company
• EIK Engineering Sdn. Bhd.
• Marsh Buggies Inc.
• Ultratrex Machinery Sdn. Bhd. - Ultratrex Machinery Sendirian Berhad
• Lemac Pty. Ltd.
• Aquamec Ltd.
• AmphiCraft Industries
• Gibbs Sports Amphibians Inc.
• Cool Amphibious Manufacturers International LLC
• Iguana Yachts
• Sealegs International Limited
• Explorer Industries Ltd.
• Lomac Nautica S.r.l.
• Marine Advanced Research Inc.
• Marine Technology Inc.
• Nauti-Craft Pty Ltd.
• Panthera Corporation
• Phoenix International Holdings Inc.
• Polaris Industries Inc.
• INNESPACE PRODUCTIONS Inc.
What Are the Regions Driving Demand in the Amphibious Vehicle Market?
Asia-Pacific was the largest region in the amphibious vehicle market in 2024
