Military floating bridge market: Key market research findings
- EMEA is the key revenue-generating region
- The modular floating bridge segment dominates the market
- Key vendors—AM General, China Harzone Industry, CNIM, Jiangsu Bailey Steel Bridge, General Dynamics, and RPC Technologies
Technavio’s market research analysts estimate the global military floating bridge market to grow at a CAGR of almost 5% between 2016 and 2020. Technological progress in the army is the primary driver for the market. Technological advancements is vital for the defense industry to ensure successful combat operations. The emergence of novel bridging solutions for military organizations stems from the higher construction time required for heavy pontoon bridges. Currently, EMEA dominates the market by occupying almost 41% of the total market share. The requirement to maintain military strength and modernize existing military equipment, including military floating bridges and auxiliary systems is one of the key reasons for the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the military floating bridge market segments by product.
“The rapid deployment capability of military floating bridges to engage in asymmetrical conflicts is the latest trend in the market. As a result, military organizations across the globe are deploying rapidly emplaced bridge systems, including assault bridges, wheel vehicle mounted bridges, floating ribbon bridges, as well as amphibious bridges. The ease of use of modern floating military bridges has enhanced their importance among rapid deployment forces around the world,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
In 2015, the modular floating bridge segment accounted for 65% of the market to dominate the global military floating bridge market. The growth of this segment can be attributed to the growing instances of urban conflicts involving river or wet gap traversing operations. Factors such as the the increase in operational requirements and advancement in existing technologies are factors that will reflect positively on growth in the market by 2020.
The key vendors in the global military floating bridge market include AM General, China Harzone Industry, CNIM, Jiangsu Bailey Steel Bridge, General Dynamics, and RPC Technologies. The global military floating bridges market is highly competitive owing to the presence of several well-established vendors. It is imperative for the key vendors to recognize and respond to the evolving trends and market shifts to survive and sustain in the market. Offering long-term support in addition to technological upgrades can be a major strategy for vendors to sustain and acquire new business opportunities.
A more detailed analysis is available in the Technavio report, Global Military Floating Bridge Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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