Amphibious Vehicle Market 2030: The Role of Technology in Modern Warfare

Amphibious Vehicle Market Overview

The global amphibious vehicle market was valued at USD 3.96 billion in 2024 and is anticipated to reach USD 6.47 billion by 2030, expanding at a compound annual growth rate (CAGR) of 8.6% from 2025 to 2030. This market is gaining traction due to growing defense investments focused on enhancing tactical mobility and command capabilities, along with the increased use of these vehicles by disaster management agencies in response to more frequent, climate-related emergencies.

Additionally, rising infrastructure development in flood-prone and waterlogged areas is boosting demand for amphibious excavators and utility vehicles among contractors involved in construction and dredging activities. Nevertheless, high production and operational costs remain a significant hurdle to the widespread adoption of these vehicles.

The market is also witnessing growing interest in amphibious solutions for tourism and intermodal passenger transport, especially in regions investing in water-based transit systems. This shift is expected to unlock new growth opportunities for industry stakeholders.

Order a free sample PDF of the Amphibious Vehicle Market Intelligence Study, published by Grand View Research.

A major catalyst for market expansion is the ongoing global defense modernization trend. For instance, in January 2025, the U.S. Marine Corps received the ACV-Command and Control (ACV-C) variant at Camp Lejeune. Designed as a mobile battlefield command center, the vehicle enhances tactical communication and situational awareness in line with the Force Design 2030 initiative. Globally, defense procurement strategies are emphasizing multi-domain capabilities, focusing on modular, network-enabled amphibious platforms to replace aging fleets. These next-generation armored vehicles are becoming essential assets within modern military structures, fueling consistent demand across allied defense agencies.

Key Market Trends and Insights

• North America held the largest revenue share in 2024, accounting for 45.8% of the global market.
• The United States led the market in 2024.
• Track-based propulsion systems dominated by propulsion type, capturing 51.3% of the market share.
• Armored amphibious vehicles led the market by vehicle type in 2024.
• By application, military combat and troop transport represented the largest segment in 2024.

Market Size and Forecast

• 2024 Market Size: USD 3.96 Billion
• 2030 Projected Market Size: USD 6.47 Billion
• CAGR (2025–2030): 8.6%
• Largest Regional Market (2024): North America
• Fastest Growing Region: Asia-Pacific

Key Amphibious Vehicle Companies

Several major players are shaping the amphibious vehicle landscape, including:

• BAE Systems plc: Founded in 1999 and headquartered in London, UK, BAE Systems is a leading global defense and aerospace company. It offers a wide range of advanced amphibious vehicles and defense solutions, integrating technologies like autonomous systems, electronic warfare, and cybersecurity.
• General Dynamics Corporation: Established in 1952 and based in Virginia, U.S., General Dynamics is a major player in amphibious combat vehicles and mission-critical defense systems. The company serves government and commercial clients globally, with a strong emphasis on engineering innovation and system integration.

Other prominent companies include:

• Rheinmetall AG
• Hanwha Aerospace
• Hitachi Construction Machinery Co., Ltd.
• EIK Engineering Sdn. Bhd.
• Wetland Equipment Company
• Wilco Manufacturing L.L.C.
• Hydratrek, Inc.
• Marsh Buggies Incorporated

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The global amphibious vehicle market is on a strong growth trajectory, driven by defense modernization efforts, increasing demand in disaster management, and expanding infrastructure in flood-prone areas. While high development and maintenance costs pose challenges, the market is expected to benefit from new applications in tourism and urban mobility. With North America leading the market and Asia-Pacific showing rapid growth, the sector remains dynamic, supported by robust government investments and technological advancements. As legacy fleets are replaced, demand for multi-role, network-enabled amphibious vehicles will likely remain strong across both military and civilian applications.