Future Market Insights
Hovercraft Market: Introduction
Hovercrafts have become one of the comfortable and profitable means of transportation in many countries around the world. Hovercrafts are also referred as air cushion vehicles and are extensively used for military and commercial applications. A hovercraft is a vehicles which is specially designed, to be wholly or partially supported, at least some of the time during their travel over the surface by a thin cushion or film of gaseous fluid which is generally air. The air is supplied continuously at a rate which is enough to maintain the supporting pressure of the cushion of the air retained below the surface of hovercraft. The hovercraft need both propulsion power and lift power for operating at a desired condition and speed. This can be achieved using various methods including the use of propulsors such as engines and lift fans. Depending upon their design a hovercraft is classified in various types such as: skirted hovercraft, Captured air bubble aircraft, simple plenum chamber hovercraft, sidewall hovercraft, peripheral jet hovercraft, recirculation hovercraft and trunked annular hovercraft. The hovercraft manufacturers are now focusing on designing the hovercrafts in such a way that they are capable to attain high speeds in harsh industrial and commercial environments.
Hovercraft Market: Market dynamics
Hovercrafts can be operated on both land and water owing to which they find application in multiple areas. Hovercrafts are designed such that they often reach areas where conventional vehicles cannot be used. Hovercrafts are most commonly used for exploring narrow waterways where conventional motorboats cannot be reached, military services, survey work and oil spill cleanup. Owing to this the demand of hovercrafts is anticipated to increase over the coming years. This will ramp up the hovercrafts market over the forecast period. Moreover, hovercraft manufacturers are focusing on designing technologically advanced and lightweight hovercrafts which have high speeds and better maneuverability characteristics. This is one of the prime reasons which would attract new customers for exploring waterways and boost up the sales of hovercrafts over the forecast period. Increasing deployment of hovercrafts in military applications will further give a necessary boost to the market over the forecast period. Furthermore, many countries are focusing on investing in development of muli-passenger aircrafts. This would further increase the demand of hovercrafts for rescue purposes and promote the anticipated growth of the hovercraft market over the forecast period.
Though hovercrafts are used in numerous applications, they suffer from many disadvantages including lack of lateral control, noisy operation and utilization of lot of power for operation. This decreases the working efficiency of hovercrafts and increase their operating costs. This could have a negative impact on the demand of hovercraft over the forecast period which would subsequently derail the anticipated growth of hovercraft market over the forecast period.
Hovercraft Market: Market Segmentation
On the basis of Application, global hovercraft market can be segmented into:
On the basis of Design, global hovercraft market can be segmented into:
Hovercraft Market: Regional Outlook
Hovercraft market is anticipated to boost up in Western Europe, owing to increasing involvement of multinational conglomerates in designing quieter and high speed hovercrafts which can be used for commercial purposes along with transportation of passengers. This will increase the demand of hovercrafts in Western European countries over the assessment period. In Middle East and Africa many governments of Middle East region are increasingly focusing on designing more efficient hovercrafts for military applications. This will further increase the sales of hover craft in the said region over the forecast period. The market is anticipated to have a moderate growth on the North America and APEJ region over the assessment period.
Hovercraft Market: Key Participants
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