Air-cushion Vehicle Market: Introduction
Air-cushion vehicle (ACV) is a craft designed to travel close to but above the ground or water. It is also called a ground-effect machine or Hovercraft. Some of these vehicles have a specially designed wing that lift them just off the surface over which they travel when they have reached a sufficient horizontal speed. Other ACVs are supported by fans that force air down under the vehicle to create lift.
Key Drivers of Air-cushion Vehicle Market
- The global market for air-cushion vehicle is expanding at a moderate pace owing to a rise in defense expenditure by governments of countries across the globe. Global defense spending reached US$1.83 trillion in 2024, a 3.9% annual increase in real terms. As a proportion of GDP, global spending sharply increased from an average of 1.85% in 2019 to 2.08% in 2024, as military budgets were maintained, despite severe economic contractions caused by the coronavirus pandemic and the series of lockdowns introduced around the world in response.
- Increasing applications of air-cushion vehicles is a key factor boosting the market. Traditional air-cushion vehicles were utilized to transport equipment and troops from ships to beaches or war zones. However, the air-cushion vehicle industry has witnessed the production of advanced landing craft that can travel on several types of terrain such as ice and sand. Moreover, the use of air-cushion vehicles for commercial purposes, such as ferrying passengers and personal use for fishing, transport, and recreational purposes, is increasing.
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Restraints of Air-cushion Vehicle Market
- Penetration of air-cushion vehicle differs from country to country. Economically developed countries tend to have a high penetration of these technologies across various passenger and commercial vehicle, while developing countries have lower penetration due to the cost factor.
Opportunities in Air-cushion Vehicle Market
- Emerging countries of Asia Pacific and Middle East are expected to offer significant opportunity for the air-cushion vehicle market. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period, with Japan, Malaysia and Thailand being key contributors to the market. Southeast Asia, in particular, is witnessing significant increase in demand in both sales and renting owing to the emergence of high net worth individuals who are being exposed to sea tourism.
- In the Middle East, Dubai is emerging as a highly popular tourist destination. Marine docks and harbors are being developed around the country to cater to the increasing number of customers indulging in water sporting. This is projected to boost the air-cushion vehicle market during the forecast period.
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Europe holds Significant Share of Global Air-cushion Vehicle Market
- Based on region, the global air-cushion vehicle market can be split into Asia Pacific, Middle East & Africa, Europe, Latin America, and North America. The market in Europe is expected to expand at a moderate pace, as several multinational manufacturing conglomerates are designing efficient, rapid, and less noisy air-cushioned vehicles, which in turn is expected to fuel the demand for air-cushioned vehicles during the forecast period. Moreover, countries such as India, the U.S., and China invest large amount of their GDPs in defense services, which in turn is anticipated to boost the air-cushion vehicle market in these countries. In Middle East & Africa, several countries such as the UAE and Saudi Arabia in the Middle East are focused on the design and development of more efficient, rapid, and advanced air-cushioned vehicles for military applications. Some countries share their coastal boundaries with several countries, which can be a reason to adopt air-cushioned vehicles along their coastlines in order to maintain security.
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Key Players Operating in Air-cushion Vehicle Market
The global air-cushion vehicle market is moderately consolidated with the presence of top manufacturers. A few of the key players operating in the global air-cushion vehicle market are:
- Aerohod
- Griffon Hoverwork
- ALMAZ Shipbuilding Company
- Textron Systems
- Neoteic Hovercraft
- The British Hovercraft Company
- Vanair Hovercraft
- Hovertechnicsa
- Garden Reach Shipbuilders & Engineers
- Hovertrans Solutions
- AirLift Hovercraft
Global Air-cushion Vehicle Market: Research Scope
Global Air-cushion Vehicle Market, by Type
- Fully skirted
- Sidewall
Global Air-cushion Vehicle Market, by Application
- Military
- Rescue
- Recreational
- Commercial
Global Air-cushion Vehicle Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Nordic Region
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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