About Light Hovercraft
A hovercraft, or Air–cushion vehicle (ACV) is a craft designed to travel over multiple types of surfaces including mud, thin or broken ice, sand, water, grass. The mechanism that provides motion to the craft over a smooth surface involves a cushion of slow-moving, high-pressure air contained within a "skirt." Light Hovercrafts are usually those less than 1000kg unladen weight. Because of their ability to travel equally over land, water, and ice, in spite of being light-weighted, hovercraft market is estimated to witness a steady growth wherever there is a need to travel over multiple types of surfaces.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 14.1% |
The competition in the light guide plate market is intense as the local players are looking for the product innovation and improve the customer base. Additionally, they are focusing on the business expansion which will fuel the market of light guide panel. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Light Hovercraft market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Neoteric Hovercraft, Inc. (United States), Universal Hovercraft of America, Inc (United States), Meyer Neptun Group (Germany), Aerohod Ltd. (Russia), Airlift Hovercraft Pty Ltd (Australia), Bland Group (Gibraltar), Garden Reach Shipbuilders & Engineers (GRSE) (India), Hovertechnics (United States), ABS Hovercraft (United Kingdom) and The British Hovercraft Company (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Feodosia Shipbuilding Company (Russia), Mercier-Jones (United States), Viper Hovercraft (Australia), Hov Pod (United States), Viper Hovercraft (Australia), Kvichak Marine Industries Inc. (United States) and Almaz Shipbuilding Company (Russia).
Segmentation Overview
AMA Research has segmented the market of Global Light Hovercraft market by Type (Diesel Power, Gas Power and Other), Application (National Parks Service, Border Patrol, Military, Commercial, Sheriff, Police and Fire Departments, Environmental and fishery research departments and Others) and Region.
On the basis of geography, the market of Light Hovercraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Design Type, the sub-segment i.e. Skirted hovercraft will boost the Light Hovercraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Diesel Engines are Replacing Gas-Turbine Engines Due To Relatively Less Environmental Hazards They Cause and Large-Diameter Slow-Speed Propellers Used To Reduce Noise Pollution
Market Growth Drivers:
Allows Access in Relatively Harsh Conditions and Environmentally Sensitive Areas that Helicopters or Boats Cannot Reach and Can Be Parked Anywhere (Land or Water)
Challenges:
Success of Hovercraft Market Highly Depends on Fuel Prices
Restraints:
Restricted Usage in Residential Areas to Reduce Noise Levels
Opportunities:
Ownership Costs Reduced Since The Craft Has Better Mileage than a Boat and Recent Camouflage Designs Can Be Used For Military operations Effectively
Market Leaders and their expansionary development strategies
In March 2203, Griffon Hoverwork and Cougar Powerboats have formed a new business relationship. The alliance brings together two specialist marine based companies amalgamating the well-proven, tried and tested design and manufacturing capabilities.
In June 2023, The Jurong shipyard of Singapore Shipbuilding & Engineering Ltd. (SSE) recently launched the first domestically built vessel of a new missile corvette (MCV) class for the Republic of Singapore Navy. Christened the RSS Valour, the 203-foot vessel will be powered by four MTU diesel engines to speeds more than 30 knots. Her hull is constructed of light gauge steel and her superstructure of marine grade aluminum alloy.
The Hovercraft Code laid down by the ‘Maritime And Coastguard Agency’ provides standards for Light Hovercraft, a sub-set of Small Hovercraft further limited to less than 1000kg unladen weight, less than 12 metres in length, not more than eight persons on board, and restricted to Area Category 3 or as further restricted on the Certificate. The total maximum power of petrol engines installed in a hovercraft is to be less than 175hp (130kW). Only fuel-injected petrol engines should be fitted when the machinery compartment is fully enclosed. Where Ultra-Light and Light Hovercraft are fitted with exposed engines a minimum of two multi-purpose portable fire-extinguishers should be provided.
Key Target Audience
Light Hovercraft Manufacturers, Raw Material Suppliers, Government bodies and associations, Research Companies, Traders/Distributors/Suppliers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.