Asia Pacific 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)
The APAC military rubber tracks market is expected to grow from US$ 34.12 million in 2021 to US$ 67.42 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2021 to 2028.
The key players operating in the military rubber tracks market include Astrak UK Limited, DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, and LT MTRON. These companies are constantly entering into new contracts to supply rubber tracks to various military vehicle manufacturers across the region owing to the rise in procurement of tracked military vehicles by several military forces. For instance, in January 2021, Elbit Systems was awarded a contract from APAC country to supply light tanks worth US$ 172 million. The company will supply Sabrah, a steel track with integrated rubber pads. Thus, the growing demand for rubber track and rubber padded military vehicles from various military bodies across the region, owing to benefits such as reduced vibrations, fuel consumption, and vehicle maintenance, is expected to contribute to the growth of the APAC military rubber tracks market over the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC military rubber tracks market. The APAC military rubber tracks market is expected to grow at a good CAGR during the forecast period.
APAC Military Rubber Tracks Market Revenue and Forecast to 2028 (US$ Million)
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APAC Military Rubber Tracks Market Segmentation
The APAC military rubber tracks market is segmented based on type, end use, and country. Based on type, the APAC military rubber tracks market is segmented into rubber pin track and rubber band track. The rubber pin track segment dominated the APAC military rubber tracks market in 2020. The rubber band track segment is expected to be the fastest-growing segment during the forecast period. Based on end use, the APAC military rubber tracks market is segmented into main battle tank, IFV/AIFV, APC, and others. The APC segment dominated the APAC military rubber tracks market in 2020, and the IFV/AIFV segment is expected to be the fastest-growing segment during the forecast period. Based on country, the APAC military rubber tracks market has been segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC.
Astrak UK Limited, DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, LS MTRON LTD, Mackay Consolidated Industries Pty Ltd, and Soucy are among the leading companies in the APAC military rubber tracks market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Military Rubber Tracks Market Landscape
4.1 Market Overview
4.2 Porter’s Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Military Rubber Tracks Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalating Demand for Composite Rubber Base Tracks
5.1.2 Surging Military Expenditure
5.2 Market Restraints
5.2.1 Preference for Steel Tracks over Rubber Tracks
5.3 Market Opportunities
5.3.1 Increasing Procurement of Tracked Military Vehicle
5.4 Future Trends
5.4.1 Growing Adoption of Rubber Tracks Across Unmanned Military Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Military Rubber Tracks Market – APAC Analysis
6.1 Overview
6.2 APAC Military Rubber Tracks Market Forecast and Analysis
7. APAC Military Rubber Tracks Market Analysis – By Type
7.1 Overview
7.2 APAC Military Rubber Tracks Market, By Type (2020 and 2028)
7.3 Rubber Pin Track
7.3.1 Overview
7.3.2 Rubber Pin Track: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Rubber Band Track
7.4.1 Overview
7.4.2 Rubber Band Track: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Military Rubber Tracks Market Analysis – By End Use
8.1 Overview
8.2 APAC Military Rubber Tracks Market Breakdown, by End Use, 2020 and 2028
8.3 Main Battle Tank
8.3.1 Overview
8.3.2 Main Battle Tank: Military Rubber Tracks Market Revenue and Forecast to 2028 (US$ Million)
8.4 IFV/AIFV
8.4.1 Overview
8.4.2 IFV/AIFV: Military Rubber Tracks Market Revenue and Forecast to 2028 (US$ Million)
8.5 APC
8.5.1 Overview
8.5.2 APC: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Military Rubber Tracks Market – Country Analysis
9.1 Overview
9.1.1 APAC: Military Rubber Tracks Market, by Key Country
9.1.1.1 Australia: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Military Rubber Tracks Market, by Type
9.1.1.1.2 Australia: Military Rubber Tracks Market, by End Use
9.1.1.2 China: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Military Rubber Tracks Market, by Type
9.1.1.2.2 China: Military Rubber Tracks Market, by End Use
9.1.1.3 India: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Military Rubber Tracks Market, by Type
9.1.1.3.2 India: Military Rubber Tracks Market, by End Use
9.1.1.4 Japan: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Military Rubber Tracks Market, by Type
9.1.1.4.2 Japan: Military Rubber Tracks Market, by End Use
9.1.1.5 South Korea: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Military Rubber Tracks Market, by Type
9.1.1.5.2 South Korea: Military Rubber Tracks Market, by End Use
9.1.1.6 Rest of APAC: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC: Military Rubber Tracks Market, by Type
9.1.1.6.2 Rest of APAC: Military Rubber Tracks Market, by End Use
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
11. Company Profiles
11.1 Astrak UK Limited
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 DST Defence Service Tracks GmbH
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 GMT Rubber-Metal-Technic Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Mackay Consolidated Industries Pty Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 LS MTRON LTD
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Soucy
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. APAC Military Rubber Tracks Market Revenue and Forecasts to 2028 (US$ Mn)
Table 2. Australia: Military Rubber Tracks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Military Rubber Tracks Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 4. China: Military Rubber Tracks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Military Rubber Tracks Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 6. India: Military Rubber Tracks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Military Rubber Tracks Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 8. Japan: Military Rubber Tracks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Military Rubber Tracks Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea: Military Rubber Tracks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Military Rubber Tracks Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of APAC: Military Rubber Tracks Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Military Rubber Tracks Market, by End Use – Revenue and Forecast to 2028 (US$ Million)
Table 14. Glossary of Terms
LIST OF FIGURES
Figure 1. APAC Military Rubber Tracks Market Segmentation
Figure 2. APAC Military Rubber Tracks Market Segmentation – By Country
Figure 3. APAC Military Rubber Tracks Market Overview
Figure 4. APAC Military Rubber Tracks Market, by Type
Figure 5. APAC Military Rubber Tracks Market, by Country
Figure 6. Porter’s Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. APAC Military Rubber Tracks Market: Impact Analysis of Drivers and Restraints
Figure 9. APAC Military Rubber Tracks Market Forecast and Analysis, (US$ Mn)
Figure 10. APAC Military Rubber Tracks Market Revenue Share, By Type (2020 and 2028)
Figure 11. APAC Rubber Pin Track: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Rubber Band Track: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Military Rubber Tracks Market Revenue Share, by End Use (2020 and 2028)
Figure 14. APAC Main Battle Tank: Military Rubber Tracks Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC IFV/AIFV: Military Rubber Tracks Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC APC: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Others: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC: Military Rubber Tracks Market, by Key Country – Revenue (2020) (US$ Million)
Figure 19. APAC: Military Rubber Tracks Market Revenue Share, by Key Country (2020 and 2028)
Figure 20. Australia: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. China: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. India: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Japan: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. South Korea: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Rest of APAC: Military Rubber Tracks Market – Revenue and Forecast to 2028 (US$ Million)
- Astrak UK Limited
- DST Defence Service Tracks GmbH
- GMT Rubber-Metal-Technic Ltd
- LS MTRON LTD
- Mackay Consolidated Industries Pty Ltd
- Soucy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC military rubber tracks market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC military rubber tracks market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the military rubber tracks market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution