Increasing use of hovercraft in the military and defense sector propelled the growth of the Hovercraft Market in Europe!

Hovercraft are versatile vehicles that can travel over both land and water, making them an ideal choice for military operations that require quick and efficient transportation across various terrains. There has been increasing use of hovercraft by military and defense organizations. Moreover, the growing investment by the Europe government in adopting hovercraft technology for military and defense purposes is also a major factor driving the growth of the market. For instance, The UK has fleet of Griffon 2000TD hovercraft that are used by royal marines and the royal navy for amphibious operations. Similarly, the French navy has also been using hovercraft such as CTM (Chaland de Transport de Materiel) hovercraft, for amphibious and logistical support operations.

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Further, the Europe Hovercraft Market is expected to grow at a strong CAGR of 4.0% during the forecast period (2022-2030). Europe is anticipated to emerge as the fastest-growing hovercraft market primarily owing to the increase in demand for transportation of goods and passengers through hovercraft. Moreover, manufacturers in Europe are investing in research and development to produce innovative and technologically advanced products. These new products are designed to meet the specific requirements of different industries and are aimed at improving efficiency, reliability, and safety.

Europe Hovercraft Market Revenue (2021-2030)- USD Mn.

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Based on propulsion, the market is segmented into diesel-powered, gasoline-powered, and others. Amongst these, the diesel-powered segment is anticipated to hold a higher CAGR during the forecast period. The factors such as diesel-powered engines produce more torque and can run longer on a specific volume of fuel as compared to gasoline. Moreover, the gasoline engine does not require spark plugs or an electrical ignition system, which in turn improves efficiency and performance. Hence, these are the factors driving the growth of the segment.

By End-use, the market is segmented into passenger transport and tourism, cargo transportation, defense, search and rescue, and others. Among these, the defense segment is anticipated to grow with a higher CAGR during the forecast period. The factors such as the growing use by navies and other marine authorities utilizing large hovercrafts to transport troops, military suppliers, and tanks from one place to another. In addition, due to the rise in concern about security and terrorism, emerging economies across the globe are advancing their conventional defense equipment and system. For instance, according to Stockholm international peace research (SIPRI), military spending by the U.S. amounted to a total of $801 billion in 2021.

Global Hovercraft Market Segmentation

Market Insight, by Propulsion

o Diesel powered.
o Gasoline powered.o Others

Market Insights, by End-Use

o Passenger Transport and Tourism
o Cargo Transportationo Defenseo Search and Rescueo Others

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe

• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• Rest of the World

Top Company Profiles

• Aerohod Ltd
• Airlift Hovercraft Pty Ltd
• CHRISTY HOVERCRAFT
• Griffon Hoverwork
• Textron Inc.
• MAD Hovercraft
• Hovertechnics
• Ivanoff Hovercraft AB
• Neoteric Hovercraft Inc.
• Bill Baker Vehicles Ltd