Report : Middle East & Africa Military Rubber Tracks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Rubber Pin Track and Rubber Band Track) and End Use (Main Battle Tank, IFV/AIFV, APC, and Others)
Rubber Pin Track Segment to Dominate MEA Military Rubber Tracks Market During 2021–2028
According to a new market research study on “MEA Military Rubber Tracks Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End Use” is expected to reach US$ 19.37 million by 2028 from US$ 13.33 million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the MEA military rubber tracks market along with the drivers and restraints pertaining to the market growth. Rising adoption of rubber tracks across unmanned military vehicles and increasing procurement of tracked military vehicle are the major factor driving the growth of the MEA military rubber tracks market. However, preference for steel tracks over rubber tracks hinders the growth of MEA military rubber tracks market.
The MEA military rubber tracks market is segmented based on type, end use, and country. Based on type, the MEA military rubber tracks market is segmented into rubber pin track and rubber band track. The rubber pin track segment dominated the MEA military rubber tracks market in 2020 and rubber band track segment is expected to be fastest growing during forecast period. Based on end use, the MEA military rubber tracks market is segmented into main battle tank, IFV/AIFV, APC, and others. The APC segment dominated the MEA military rubber tracks market in 2020 and IFV/AIFV segment is expected to be fastest growing during forecast period. Based on country, the MEA military rubber tracks market has been segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
Astrak UK Limited, DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, LS MTRON LTD, and Ocean Rubber Factory LLC are among the leading companies in the MEA military rubber tracks market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Astrak UK Limited announced it has expanded in West Africa by signing a preferred partner with Mine Site Maintenance.
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