The military sector has experienced a rise in the adoption of unmanned military vehicles over the years. This includes adopting unmanned main battle tanks, unmanned armored personnel carriers, and unmanned armored fighting vehicles. The rising investment by companies in integrating rubber tracks on unmanned vehicles is expected to contribute to the market's growth. For instance, Armtrac Ltd incorporated heavy-duty rubber tracks in its Armtrac 20T C-IED Robot, which is a remote unmanned ground vehicle (UGV). Rubber tracks enable the vehicle to produce ground-bearing pressure of less than 5 pounds per square inch (PSI), which can be fitted in wider tracks for applications across soft terrain. Further, in October 2021, General Dynamics Land Systems demonstrated a version of its unmanned vehicles with lightweight metallic and rubber tracks. In the demonstration, the rubber tracks offered various advantages such as performance, maintenance, and logistics over traditional metallic tracks. Thus, constant investments by unmanned military vehicle manufacturers on rubber tracks are 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 SAM military rubber tracks market. The SAM military rubber tracks market is expected to grow at a good CAGR during the forecast period.
SAM Military Rubber Tracks Market Segmentation
The SAM military rubber tracks market is segmented based on type, end use, and country. Based on type, the SAM military rubber tracks market is segmented into rubber pin track and rubber band track. The rubber pin track segment dominated the SAM 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 SAM military rubber tracks market is segmented into main battle tank, IFV/AIFV, APC, and others. The IFV/AIFV segment dominated the SAM military rubber tracks market in 2020, and the same segment is expected to be the fastest-growing segment during the forecast period. Based on country, the SAM military rubber tracks market has been segmented into Brazil and the Rest of SAM.
Astrak UK Limited, DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, LS MTRON LTD, and Soucy are among the leading companies in the SAM military rubber tracks market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5.24 Million |
| Market Size by 2028 | US$ 7.04 Million |
| CAGR (2021 - 2028) | 4.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Military Rubber Tracks Market is valued at US$ 5.24 Million in 2021, it is projected to reach US$ 7.04 Million by 2028.
As per our report South America Military Rubber Tracks Market, the market size is valued at US$ 5.24 Million in 2021, projecting it to reach US$ 7.04 Million by 2028. This translates to a CAGR of approximately 4.3% during the forecast period.
The South 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 South America Military Rubber Tracks Market report:
The South 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 South America Military Rubber Tracks Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Military Rubber Tracks Market value chain can benefit from the information contained in a comprehensive market report.
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