Commercial hovercrafts are one of the comfortable and profitable means of transportation in many countries around the world. Large hovercrafts have a heavy load carrying capacity, which enables armed forces to transport troops, military supplies, and equipment to carry out humanitarian assistance, rescue, and disaster relief missions. Hovercrafts need both propulsion power and lift power to operate at a desired condition and speed. They are specially designed to be wholly or partially supported, at least for some time, during their travel over the surface by a thin cushion or film of gaseous fluid. Hence, such growing applications of commercial hovercrafts are expected to propel growth of the market during the forecast period.
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COVID-19 scenario analysis:
- COVID 19 is one of the most severe public health and economic crisis the world has ever faced in the 21st century.
- Sweeping loss of human lives and labor productivity is expected to impact various sectors and general lifestyle over the period.
- The combination of safety policies ranging from social distancing to lockdown all over the country has completely stopped production and consumption activities for an uncertain period.
- All modes of transport are suffering severe losses, owing to their limited operability during the lockdown plus the military and heavy load caring carriers as well.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rise in focus toward development of technologically advanced & lightweight commercial hovercrafts and use of hovercrafts on both land and water drive growth of the market. Moreover, lack of lateral control, noisy operation, and utilization of a lot of power for operation can restrain growth of the global hovercrafts market. Furthermore, commercial hovercrafts manufacturers are now focusing on designing hovercrafts in such a way that they are capable to attain high speeds in harsh industrial and commercial environments, which is expected to offer lucrative opportunities for market growth shortly.
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Development of technologically advanced and lightweight commercial hovercrafts
Manufacturers are focused on designing technologically advanced and lightweight commercial hovercrafts that have high speed and better maneuverability characteristics. In addition, more customers are attracted to buy commercial hovercrafts with lightweight and upgraded technologies for disaster relief, coastguard, military, and survey applications. Hence, this is expected to further increase demand for hovercraft for rescue purposes and promote growth of the commercial hovercrafts market during the forecast period.
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Key benefits of the report:
- This study presents the analytical depiction of the commercial hovercrafts market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the commercial hovercrafts market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the commercial hovercrafts market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed commercial hovercrafts market analysis based on competitive intensity and how the competition will take shape in the coming years.
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