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SELBYVILLE, Del., Feb. 1, 2021 /PRNewswire/ Global Market Insights, Inc. has recently added a new report on the outboard engines market which estimates the market valuation for outboard engines will cross US$ 13 billion by 2027. The rising government interest in developing boating infrastructure to support recreational activities and enhance tourism will further drive outboard engines industry size.
Outboard Engines Market size is expected to exceed USD 13 billion by the end of 2027, according to a new market research study published by the Global Market Insights, Inc.
The military segment will observe over a 4.5% CAGR in the outboard engines market size owing to increasing outboard engine adoption in rigid-inflatable boats (RIB) for patrolling and rescue operations. Diesel outboard engines are preferred in military applications owing to enhanced safety features compared to petrol outboards. Additionally, outboard engines enable defense