The global air-cushion vehicles market is forecast to grow at a CAGR of 0.22% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: There are several new developments in the design of air-cushion vehicles to improve the maneuverability and to increase the payload. Successive developments have improved their carrying capacity to up to 60-75 tons of payloads.
They are capable of transporting M-1 Abrams tank across the beach. These vehicles have also improved in terms of speed. Also, the air-cushion technology allows the vehicle to reach over 70% of the global coastline, while the conventional landing crafts could access only 15% of the coastline.
According to the report, the growing emphasis on maritime security due to rising territorial water zone disputes and growing security concerns for sea trade across the world are driving the global air-cushion vehicle market. Currently, over 50,000 merchant ships carry out the majority of the global trade, which is likely to increase during the forecast period.
However, these ships constantly face the threats from pirates on major trade routes across the Middle East and Africa regions like in the Suez Canal, Gulf of Aden, Red Sea, and the Arabian Sea. Therefore, to counter such pirate attacks and to safeguard the trading ships, many countries are investing highly in amphibian landing vessels like air-cushion vehicles.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?