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Concerns about border security and terrorism are expected to drive innovation in amphibious vehicle manufacturing, propelling the market during the forecast period.

The global amphibious vehicle market is expected to grow from $3.54 billion in 2022 to $3.90 billion in 2023 at a compound annual growth rate (CAGR) of 10.16%. The amphibious vehicle market is expected to reach $5.46 billion in 2027 at a CAGR of 8.76%.

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Global Amphibious Vehicle Market Segments Include:

• By Propulsion: Waterjet, Track-Based, Screw Propellers, Other Propulsions
• By Application: Surveillance And Rescue, Water Sports, Water Transportation, Excavation, Other Applications
• By End Use: Defense, Commercial
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global amphibious vehicle market in 2021.

Major Market Players in the amphibious vehicle market include Bae Systems, General Dynamics Corporation, Lockheed Martin Corporation, Rheinmetall AG, Science Applications International Corporation, Inc., Textron Systems.

Product innovation is one of the most popular trends in the amphibious vehicle market. To maintain their position in the amphibious vehicle market, major companies in various industries such as defence, excavators, and others are developing innovative solutions such as multipurpose amphibious vehicles. For example, in May 2021, DCD Protected Mobility, a South African company that provides sustainable products and solutions to the transportation and defence industries, introduced an amphibious vehicle that can be used for mining, military, search and rescue, and private use.

The Amphibious Vehicle Global Market Report 2023  provides a amphibious vehicle market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The amphibious vehicle market forecast analyzes amphibious vehicle market size, amphibious vehicle market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An amphibious vehicle is one that can transport a person or object both on land and in water. Amphibious vehicles are used on land or on water where wheeled transportation would be impractical due to terrain and traffic congestion.

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