Hovercraft Market Share

Statistics for the 2023 & 2024 Hovercraft market share, created by Mordor Intelligence™ Industry Reports. Hovercraft share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Hovercraft Industry

The hovercraft market is fragmented, with many regional players that cater to hovercraft requirements for leisure, commercial, and military applications. Companies such as Textron Inc., Griffon Hoverwork Ltd, Neoteric Hovercraft Inc., Airlift Hovercraft Pty Ltd, and The British Hovercraft Company Ltd are prominent players in the market. 

Due to higher fragmentation in the market, the companies are emphasizing continuous innovation and increasing investment in R&D to enhance the efficiency and capability of hovercraft. For instance, in 2023, Griffon Hoverwork Ltd launched the Wyvern class LCAC. The Wyvern class is the most versatile, economical, and advanced Landing Craft Air Cushion Hovercraft. The development will provide military forces with fast and amphibious transportation capabilities in all terrains. Such developments underline the importance of R&D in driving the market. Additionally, companies are incorporating advanced autonomous technology and enhanced propulsion systems to increase operational capability.

Hovercraft Market Leaders

  1. Textron Inc.

  2. Griffon Hoverwork Ltd

  3. Neoteric Hovercraft, Inc.

  4. The British Hovercraft Company Ltd.

  5. Airlift Hovercraft Pty Ltd

*Disclaimer: Major Players sorted in no particular order

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Hovercraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)