Global Hovercraft Market Overview
The hovercraft market is anticipated to register a CAGR of approximately 8.9% during the forecast period. The heavy load carrying capacity of the large hovercraft enables the armed forces to transport troops, military supplies, and application to carry out humanitarian assistance, rescue, and disaster relief missions. Such growing applications of hovercraft may propel the growth of the market during the forecast period. The advantage of hovercraft for traveling over shallow waters and terrains, irrespective of water current direction, and the costs saved in building separate harbors for these vehicles are major factors generating the demand for hovercraft during the forecast. 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 vehicle 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 garnered a revenue of USD 263.82 million in the year 2019 globally and has been foreseen to yield USD 651.17 million by the year 2029 at a compound annual growth (CAGR) of 8.9% over the forecast period.
Global Hovercraft Market Dynamics
Rise in focus toward development of technologically advanced & lightweight hovercrafts
Manufacturers are focused on designing technologically advanced and lightweight commercial hovercrafts that have high speed and better maneuverability characteristics. In addition, more customers are attracted to buy commercial hovercrafts with lightweight and upgraded technologies for disaster relief, coastguard, military, and survey applications. Hence, this is expected to further increase demand for hovercraft for rescue purposes and promote growth of the commercial hovercrafts market during the forecast period.
Hovercrafts on both land and water drive growth of the market
Commercial hovercrafts are unique to understand principles of high air pressure below hulls and wings as they can lift themselves while still, differing from ground effect vehicles and hydrofoils, which require forward motion to create lift. Hence, hovercrafts are operatable on both land and water, which makes them unique. In addition, hovercrafts are designed in a way that they can reach those areas where conventional vehicles cannot be used. In addition, they are most commonly used to explore narrow waterways where conventional motorboats cannot be reached such as military services, survey work, and oil spill cleanup.
Lack of lateral control, noisy operation and utilization of lot of power for operation.
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.
Global Hovercraft Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
Fig.1 Global Hovercraft Market Value Share (%), By Fuel Type – 2019 (E)
The Global Hovercraft Market is segmented based on Fuel, Application and Region.
On the basis of Fuel, the Global Hovercraft Market is segmented into Diesel Power Product, Gas Power Product, and Other. Based on Application, the target market is segmented into Civil and Military. On the basis of application, the target market is segmented into diagnostics and research.
Source: Prophecy Market Insights
Regional Insights:
On region the Global Hovercraft Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America regional market is projected to emerge as the fastest-growing regional market and is expected to attain USD 186.75 million by 2029, growing at a CAGR of 12.0% over the coming years.
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2029 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
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Market Segmentation |
By Fuel- Diesel Power Product, Gas Power Product, and Other By Application– Civil and Military |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Hovercraft Market report based on Fuel, Application, and region.
Global Hovercraft Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Hovercraft Market Key Players
The key players operating in the Global Hovercraft Market includes Technolution B.V., Universal Hovercraft, Meyer Neptun Group, Aerohod, AirLift Hovercraft, Almaz Shipbuilding, Bland Group, Garden Reach Shipbuilders & Engineers (GRSE), Hovertechnics.
Global Hovercraft Market Company Profile
Company Profile:
- Technolution B.V.*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Universal Hovercraft
- Meyer Neptun Group
- Aerohod
- AirLift Hovercraft
- Almaz Shipbuilding
- Bland Group
- Garden Reach Shipbuilders & Engineers (GRSE)
- Hovertechnics
- Neoteric Hovercraft
- ABS Hovercraft
- Feodosia Shipbuilding Company
“*” marked represents similar segmentation in other categories in the respective section
Global Hovercraft Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Hovercraft Strategies
- Key Questions this Study will Answer
- Market Snippet, By Fuel
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Hovercraft Market, By Fuel, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Diesel power products
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Gas power products
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Hovercraft Market, By Application, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Civil
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Military
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Hovercraft Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Fuel, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Fuel, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Fuel, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Fuel, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Fuel, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Technolution B.V..
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Universal Hovercraft
- Meyer Neptun Group
- Aerohod
- AirLift Hovercraft
- Almaz Shipbuilding
- Bland Group
- Garden Reach Shipbuilders & Engineers (GRSE)
- Hovertechnics
- Neoteric Hovercraft
- ABS Hovercraft
- Feodosia Shipbuilding Company
The Last Word
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- Future Impact
- About Us
- Contact
FAQs
The Global Hovercraft Market is segmented based on fuel, applications, and region.
Hovercrafts on both land and water drive growth of the market is the major factor driving growth of the global market.
The North America regional market is projected to emerge as the fastest-growing regional market and is expected to attain USD 186.75 million by 2029, growing at a CAGR of 12.0% over the coming years.
Technolution B.V., Universal Hovercraft, Meyer Neptun Group, Aerohod, AirLift Hovercraft, Almaz Shipbuilding, Bland Group, Garden Reach Shipbuilders & Engineers (GRSE), Hovertechnics