An airboat is also known as a fan boat, plane boat, swamp boat, or bayou boat. It is a kind of flat-bottomed watercraft, which is propelled by an aircraft-type propeller and powered by either an automotive or aircraft engine. These are initially used as means of navigating shallow water, especially for fishing and hunting. Moreover, airboats are now becoming a larger part of the tourism business. Thus, increased number of airboats in the tourism industry contributes toward the growth of the overall market.
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Major Market Players:
Diamondback Airboats, PANTHER AIRBOATS, Floral City Airboat Company, American Airboat Corp., Arctic Airboats Ltd, CHRISTY HOVERCRAFT TM, Canadian Airboats, Hamant Boats, Airboat West, Airboat Afrika
The growing tourism industry across the globe and the increasing disposable income in emerging economies is accelerating market growth. Moreover, the airboats are effective only in the shallow waters and in canals, ice, and frozen lakes which can restrain the market. Furthermore, the development of innovative airboats for cleaning water bodies is likely to create potential opportunities over the forecast period.
- Search and Rescue
The recent development within the tourism industry has shown some effective application of airboats within the fishing industry. The use of airboats to maintain safety and security by rescuing team in case of an accident and enforcement situations within the coastal areas are a number of the crucial applications which are expected to improvise the improvements within the market on the worldwide platform. The increased number of airboats within the tourism industry also can feed the effective growth of the market within the coming years.
The increasing trend of the airboats despite the high cost is likely to boost the market of airboats. The significant development in the sales of the airboats will positively drive the market. Also, in the recent past, the intense sales of the airboats for the personnel used by the civilians have going to provide a boom in the market.
COVID-19 scenario analysis:
- The global market for airboat is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of airboats, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Questions answered in airboat market research report
- Which are the leading players active in the airboat market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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