According to a new report by UnivDatos the Amphibious Vehicle Market is expected to reach USD million in 2033 by growing at a CAGR of 8.1% during the forecast period (2025-2033). The global amphibious vehicle market has shown significant market growth during historical years. With the rising military expenditure as well as the commercial application rise of amphibious vehicles across countries, these are some of the key factors contributing to the market rise. Furthermore, rising trends such as the integration of advanced technologies and multi-role amphibious vehicles would also be some of the key factors that would be crucial for the expansion of the market. In line with this, many of the companies have announced their plans to launch new-age amphibious vehicles.
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Segments that transform the industry
- Based on the platform, the global amphibious vehicle market is bifurcated into commercial and defense. Of these defense sector has held the major market share due to high demand for amphibious vehicles. These amphibious vehicles are extensively used in combat and rescue operations in sensitive regions where the troops require an additional layer of protection. These vehicles can easily travel in marshy areas where troop mobility is difficult for other vehicles. Considering the robust applicability in transportation, many of the militaries across the globe are investing in order to integrate more amphibious vehicles.
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According to the report, the Rising Defense Expenditure has been identified as a key driver for market growth. Some of how this impact has been felt include:
Rising defense expenditure across the globe has helped the amphibious vehicle market. As amphibious vehicles are commonly used by military forces across the globe to safely transport troops and equipment in sensitive areas through different terrains, a large number of militaries across the globe are purchasing amphibious vehicles. Additionally, military modernization among the leading militaries such as the US, Russia, China, India, UK, France, and Saudi Arabia is on the rise, due to which there is a rise in military expenditure year on year. Furthermore, with the improvement in long-range and stand-off weapon usage by different armies, the ground militaries are constantly modernizing their forces with mechanized vehicles with advanced protection from ballistic attacks, which includes the integration of amphibious vehicles
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