The global rubber tracks for defense and security market in 2022 was US$ 24.4 billion and is estimated to be worth US$ 26.8 billion in 2023. FMI anticipates that the rubber tracks for defense and security market is likely to expand at a CAGR of 8.94% between 2023 and 2033, totaling around US$ 63.1 billion by 2033.
The Rubber Track for Defense and Security Market pertains to the manufacturing, distribution, and utilization of rubber tracks specifically designed for military and security applications. These tracks are essential components of tracked vehicles used by defense forces and security agencies for various purposes, including reconnaissance, transportation, logistics, and combat operations. Here’s an overview of this market:
Market Overview:
The Rubber Track for Defense and Security Market caters to the unique requirements of military and security applications, providing durable, reliable, and high-performance rubber tracks for tracked vehicles operating in diverse terrains and environments.
These tracks are designed to offer superior traction, flotation, and maneuverability on challenging surfaces such as mud, snow, sand, and rough terrain encountered in military operations and security missions.
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Key Players:
Manufacturers: Leading manufacturers of rubber tracks for defense and security applications include companies such as Soucy International, Camso, Inc. (formerly Camoplast Solideal), McLarens Limited, Williams Patent Crusher, and Terramac, LLC.
Defense Contractors: Defense contractors and vehicle manufacturers, such as BAE Systems, General Dynamics Land Systems, Rheinmetall AG, and Oshkosh Defense, also play a significant role in supplying rubber tracks as part of armored vehicles and military platforms.
Market Drivers:
Military Modernization: The ongoing modernization efforts of defense forces worldwide drive the demand for advanced tracked vehicles equipped with durable and high-performance rubber tracks to enhance mobility, agility, and operational effectiveness in various theaters of operation.
Security Challenges: Increasing security threats, asymmetric warfare, and peacekeeping missions require versatile tracked vehicles capable of operating in diverse environments, including urban areas, mountainous terrain, and hostile territories.
Terrain Adaptability: Rubber tracks offer advantages over traditional steel tracks, including reduced ground pressure, improved flotation, lower noise levels, and reduced wear on paved surfaces, making them suitable for sensitive environments and urban operations.
Specialized Applications: Rubber tracks are used in specialized military and security applications such as reconnaissance vehicles, armored personnel carriers, engineering vehicles, and logistics support vehicles, requiring customized track designs to meet specific mission requirements.
Key Takeaways from the Market Study
- Rubber tracks for the defense and security market expanded at a CAGR of 7.12% between 2018 and 2022.
- North America expanded at 41% of the market share in 2022.
- The United States forecasted a 7.5% CAGR from 2023 to 2033.
- Based on product type, rubber band tracks dominated 45% of the market share in 2022.
- Under vehicle type, IFV/AIFV forecasted 52% of the market share in 2022.
- Based on vehicle payload, 15 to 45 tons expanded 44.3% of the market share in 2022.
“Potential for rubber tracks for defense and security through an increase in military expenditure”, commented a Future Market Insights analyst.
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Rubber Track for Defense and Security Market Segmentation
By Product Type:
- Rubber Band Track
- Rubber Pin Track
- Single Pin Tracks
- Double Pin Tracks
By Vehicle Type:
- Tanks
- APC
- IFV/ AIFV
- Recons
- Others
By Vehicle Payload:
- 8 to 12 Tons
- 12 to 14 Tons
- 15 45 Tons
- Above 45 Tons
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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