Military Truck Market Outlook 2030 -
A military truck is a vehicle designed to transport troops, fuel and military supplies to the battlefield, through tar roads and unpaved dirt roads or as demanded in the situation. Several countries have manufactured their own models of military trucks, which has its own technical characteristics and specialization. These vehicles are adapted to the needs of the different armies on the ground. Usually, these trucks are composed of a chassis, a motor, a transmission, and a cabin, an area for the placement of the load and the equipment or the personnel, axles of transmission, tires, electrical, pneumatic, hydraulic, suspensions, direction, engine cooling systems, and brakes. However, these trucks are mostly used for transporting military units in remote areas. They can be operated with both gasoline engine or with a diesel engine, there are four-wheel drive (4x4) vehicles, six wheeled (6x6), eight wheeled (8x8), ten wheeled (10x10) and even twelve wheeled vehicles (12x12).
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2030 |
Base year considered | 2020 |
Forecast period | 2021–2030 |
Forecast units | Value (USD) |
Segments covered | Segment, Application and Region |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa) |
Companies covered | Rheinmetall AG, IVECO S.p.A., TATRA TRUCKS A.S.,Textron Inc., General Dynamics, Mitsubishi Heavy Industries, Mercedes-Benz AG, Tata Motors, Krauss-Maffei Wegmann and Oshkosh Corporation, Inc. |
COVID-19 Impact analysis
The military truck market will witness negative and inferior impact in future owing to the widespread growth of the pandemic. Due to halted production, least transportation movement in pandemic period, global military truck market and overall truck market got heavily impacted. Covid-19 has not only impacted supply chain but also impacted the truck components market, market dynamics and competition of the market. The revenues has gone down in 2020-2021 and may resume an uptrend gradually form 2021-2022.Open-ups will help military market to regain the growth and brighter future prospects.
Top Impacting Factors
- Increasing demand for multipurpose solution for transportation is one of the factor driving the market growth in the forecasting period.
- Major restraint of the market is fluctuations in the prices of raw materials.
- Rising defense budget across the globe can act as an opportunity for the market growth in the forecast period.
Market Trends
Blooming automatic transmission segment
The automatic transmission is being adopted because of their fuel potency and luxury offered to the motive force through machine-driven gear shift and marginal force interruption. For example, Allison Transmission produces absolutely automatic transmissions for light-, medium- and industrial military wheeled and half-tracked vehicles. Suppliers are concentrating on giving technologies with higher potency rates, comfort levels, and sturdiness, alongside the marginal impact on the atmosphere. The adoption of latest technologies is additionally hooked in to client preferences that differs by region. The good thing about high speed, additional fuel potency, and reduced risk of engine stops throughout serious masses increase the marketplace for automatic drive. In military functions, these trucks supply all-terrain high-speed transport of troops, cargo, and work as demanded.
North America is predicted to be the fastest-growing market throughout the forecast amount
North America is predicted to be the fastest-growing market. Border disputes and diplomatic developments between the U.S. and United Mexican States has diode to increasing acquisition of army vehicles within the country, which has military trucks, armored vehicles, and weapon systems. Hence, United Mexican States is trying forward to increasing its adoption of military instrumentality. The Canadian government is additionally that specialize in strengthening its military by procuring military instrumentality. For instance, The Canadian defense force signed a contract of 628.98 USD million with raincoat defense includes the provision of latest trucks, trailers, armor protection systems, and in-service support. In 2015, raincoat defense was awarded USD 834 million by the Canadian government to deliver one, 587 trucks with 5 years of in-service support.
Key segments covered:
Segments | Subsegments |
Type |
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Axle |
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Propulsion |
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Transmission |
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Region |
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Key benefits of the report:
- This study presents the analytical depiction of the military truck industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of military truck market.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the military truck market growth scenario.
- The report provides a detailed military truck market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the military truck market research report:
- Which are the leading market players active in the military truck market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the military truck market?
- What are the projections for the future that would help in taking further strategic steps?
Military Truck Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Axle |
|
 By Propulsion |
|
 By Transmission |
|
 By Region |
|
 Key Market Players | Textron Inc., Rheinmetall AG, Mitsubishi Heavy Industries, Mercedes-Benz AG, Oshkosh Corporation Inc., General Dynamics, Tata Motors, Krauss-Maffei Wegmann, IVECO S.p.A., TATRA TRUCKS A.S. |
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