Military Truck Market to be dominated by Heavy Duty Military Trucks through 2027
Increased defense spending
from developing countries and growing pollical and border issues are expected
to drive the demand for the global military truck market in the forecast
period, 2023-2027.
According to TechSci Research
report, “Military Truck Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global military truck market is
anticipated to witness steady growth in the forecast period, 2023-2027.
Military trucks are used to transport troops, military supplies, and fuel to
the battlefield through tar roads and
unpaved dirt roads. Countries are promoting and investing in the domestic
production of military trucks differing in technical characteristics and
specialization. Factors such as the rise in the deployment of military forces
in different locations and growing military missions are accelerating the
demand for moving troops and supplies. Countries are investing in acquiring
advanced military trucks with improved fuel efficiency and load storage
capacity. The launch of better military truck versions is expected to boost the
demand for the global military truck market in the forecast period.
However, the high charges of
designing customized military vehicles and the occurrence of technical errors
may restrain the global military truck market growth in the forecast period.
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Military Truck Market"
The global military truck market is segmented into type,
propulsion, transmission type, axle, regional distribution, and competitive
landscape.
Based on type, the market is
divided into light-duty, medium-duty, and heavy-duty. Heavy-duty trucks are
expected to hold the largest market share in the forecast period as they can
perform off-road, in deep water, and in mud and snow. Heavy-duty trucks can tow
weights up to 3000 kg with a payload capacity of 1000 kg. They are majorly used
for firefighting, refrigeration, dumping, container, tankers, and disaster
management. Manufacturers equip the military trucks with small-anti personnel
mines, small arms fire, artillery shell splinters, and grenades to increase the
protection in the military trucks.
Based on propulsion, the
market is bifurcated into ICE and electric. ICE propulsion is expected to hold
a significant market share over the forecast period. The majority of the
military trucks are made by using ICE propulsion systems due to the lack of
charging infrastructure in developing countries. Also, the military trucks are
able to give the required performance by using the ICE engines, and the market
players are launched advanced versions to capture the highest market share in
the next five years.
Based on transmission type,
the market is divided into automatic, semi-automatic, and manual. The automatic
transmission type is expected to witness the fastest incremental growth over
the next five years. They are in high demand as they offer maximum fuel
efficiency and comfort to the driver as it supports automated gear shift and
minimal torque interruption. Market players are making high-end investments to
improve the performance, efficiency rates, comfort level, and durability of
military trucks. The advantages offered by the automatic transmission military
trucks, such as high speed, lower risk of engine stoppage while carrying heavy
loads, and higher fuel efficiency, are expected to boost the demand for the
global military truck market in the forecast period.
Major market players
operating in the global military truck market are:
·
IVECO
S.p.A.
·
Rheinmetall
AG
·
Textron
Inc.
·
TATRA
TRUCKS A.S.
·
Mitsubishi
Heavy Industries
·
Mercedes-Benz
AG
·
Krauss-Maffei
Wegmann
·
Oshkosh
Corporation Inc.
·
General
Dynamics
·
Tata
Motors
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“The North American region is
expected to account for a significant market share over the next five years,
2023-2027. The rise in cross-border issues and territorial conflicts, and
diplomatic developments between the United States and Mexico has increased the
acquisition of military trucks, armored vehicles, and weapon systems. The
Canadian government is also focusing on strengthening and upgrading its
military forces and equipment, thereby accelerating the sales of military
trucks across the country. Also, the presence of major market players in the
region, massive fund allocations for the development defense sector, and ongoing
research and development activities are expected to propel the global military
truck market growth till 2027”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Military Truck Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented
By Type (Light Duty, Medium Duty, Heavy Duty), By Propulsion (ICE, Electric),
By Transmission Type (Automatic, Semi-Automatic, Manual), By Axle (4×4, 6×6,
8×8, Others), and By Region”, has evaluated the future
growth potential of global military truck market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global military truck market.
About TechSci Research
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