Amphibious ATV Market To Reach USD 6.5 Billion By 2032, Says DataHorizzon Research [Yahoo! Finance]
BRP Inc. - Common Subordinate Voting Shares (DOOO)
Company Research
Source: Yahoo! Finance
Fort Collins, Colorado, April 22, 2024 (GLOBE NEWSWIRE) -- Versatility drives the amphibious ATV market in the forecast period. The amphibious ATV market is undergoing significant expansion, driven by the versatile applications of these vehicles across various sectors. Increasingly, amphibious ATVs find utility in military and defense operations, particularly for surveillance, reconnaissance, and rescue missions in challenging terrains. A US Department of Defense report predicts a 25% growth in demand for amphibious vehicles in the military sector between 2020 and 2025. Moreover, the agricultural industry embraces amphibious ATVs for crop monitoring, irrigation management, and livestock transportation in wetland areas. According to the US Department of Agriculture, ATV usage in agriculture has seen a 15% increase from 2015 to 2020. Furthermore, technological advancements in amphibious ATV design and manufacture, including enhanced fuel efficiency, improved suspension systems, and
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