Steel tracks have been the traditional military vehicle tracks for decades. However, the maintenance of steel tracks is a tedious, continuous process and expensive in nature. Various parts such as replace links, sprockets, and road wheels need to be replaced every 600 km. A composite rubber track (CRT), on the other side, is a low-maintenance product that can operate up to 5000 km without maintenance or structural component replacement. Additionally, the fuel consumption of rubber track military vehicles is much lower than steel track military vehicles. Additionally, CRTs are also more efficient across dry sand. Steel tracks tend to pick up dust and accumulate the same in their bodies, leading to faster wear and tear. However, composite rubber band tracks do not pick up dust, thereby offering a longer life span for the tracks. The factors mentioned above are constantly increasing the demand for CRTs for military vehicle applications, thereby contributing to the market's growth.
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 North America military rubber tracks market. The North America military rubber tracks market is expected to grow at a good CAGR during the forecast period.
North America Military Rubber Tracks Market Segmentation
The North America military rubber tracks market is segmented based on type, end use, and country. Based on type, the North America military rubber tracks market is segmented into rubber pin track and rubber band track. The rubber pin track segment dominated the North America 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 North America military rubber tracks market is segmented into main battle tank, IFV/AIFV, APC, and others. The APC segment dominated the North America military rubber tracks market in 2020. The IFV/AIFV segment is expected to be the fastest-growing segment during the forecast period. Based on country, the North America military rubber tracks market has been segmented into the US, Canada, and Mexico.
Astrak UK Limited, DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, Hutchinson Industries Inc., LS MTRON LTD, Mackay Consolidated Industries Pty Ltd, Northern Plains Track, and Soucy are among the leading companies in the North America military rubber tracks market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 47.06 Million |
| Market Size by 2028 | US$ 74.25 Million |
| CAGR (2021 - 2028) | 6.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Military Rubber Tracks Market is valued at US$ 47.06 Million in 2021, it is projected to reach US$ 74.25 Million by 2028.
As per our report North America Military Rubber Tracks Market, the market size is valued at US$ 47.06 Million in 2021, projecting it to reach US$ 74.25 Million by 2028. This translates to a CAGR of approximately 6.7% during the forecast period.
The North America Military Rubber Tracks Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Military Rubber Tracks Market report:
The North America Military Rubber Tracks Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Military Rubber Tracks Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Military Rubber Tracks Market value chain can benefit from the information contained in a comprehensive market report.
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