We are monitoring the impact of COVID-19 on Military Truck Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 9820
Share on
Share on

Military Truck Market Segmentation based on truck type (Light, Medium, Heavy), Based on the application (Cargo/Logistics, Troop, Utility), Based on the propulsion type (Electric/Hybrid, Gasoline, Diesel), Based on the transmission type (Automatic, Semi-Automatic, Manual), Based on the axle configuration (4x4, 6x6, 8x8, others) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 9820
Pages: 175

Market Overview:

The global military truck market is expected to grow from 15,677 units in 2021-2026 at a CAGR of 3.2% in the forecast period of 2021 to 2026.

The military truck is one among the essential sorts of border defense of a rustic. Military truck vehicles are growing at a rapid pace thanks to rising in the sales by the emerging economies with a large population that require increased land-protection. Also, the military land vehicles market is predicted to grow at a sluggish rate within the short term thanks to austerity in several major markets. The economic slowdown in Europe is another factor for the low growth in a short time. The regular markets for military land vehicles such as the U.S. are mostly up-grading and maintaining their existing military fleets instead of replacing them with the new ones.

Factors like surge in need for customized trucks, technological progressions, rise in the popularity of military equipment transit, and continuous growth of army personnel are driving the military truck market.

Recent Developments:

Tata Motors introduced the roll-out of its 1500th GS800 (General Service 800) Safari Storme SUVs specially made for the Indian military.

The U.S. military Army is close to conduct a chase away among three competing trucks, all getting to become the service's newest ride for paratroopers. The Infantry Squad Vehicle may be a high speed, lightly armoured truck which will jump with airborne troops out of airplanes and permit soldiers to move off the dropping zone quickly.

KrAZ-6322 Soldier military truck is an all-terrain, 6WD high-mobility tactical vehicle designed as well as built by Ukrainian PJSC AutoKrAZ to support various mission needs of land forces.

Drivers and Restraints of Military Truck:

Drivers:

Improving nations with developing economies are showing more interest in the purchase of military land vehicles. These economies are with a growing population and wish more advanced defense reaction with comparatively more numbers of land protection machines or equipment to guard its civilians and secure the national border. Additionally, the general global security scenario is getting more complicated and hence increasing the pressure on nations to possess more frequent and accurate defense reaction than ever before. With every new invention during this industry, the expansion of the worldwide vehicle market is growing. The growing concern of protecting military workforce during civil wars, and the mounting desire to protect the state from stressful situations and scenarios starting from natural disasters to acts of terrorism, is predicted to drive the expansion of security applications across the world. This can cause an increase in the demand for armored trucks during the forecast period.

Restraints:

However, due to a few nations with weaker economic conditions, the defense expenditures of these countries are decreasing and hence severely affecting the general global military trucks market. The new trend in developed countries to supply their defense equipment is additionally restricting the import of vehicles from other countries, which successively adversely impacts the worldwide market. The high costs related to advanced armored vehicles may be a significant limitation for the global military trucks market. 

Fluctuating staple costs, import expenses, and hefty taxes levied by countries often end in the increased value of products. If companies desire to extend their operations of armored vehicles in emerging economies, the key challenge is to keep a balance between the bottom cost of products and their quality. 

Market Segmentation:

Based on truck type: 

  • Light 
  • Medium 
  • Heavy 

The heavy trucks account for the prominent share in the global military truck business as they can help transport various small arms fire, grenades, small anti-personnel mines and shell splinters. Several large axle configurations are manufactured by companies like Oshkosh Corporation, Mercedes-Benz, MAN, Krauss-Maffei Wegmann, et al. Heavy military trucks are used for different applications as they provide better torque at the wheel and peak power ratings, such as refrigeration, dumping, firefighting, disaster management, tankers, RMC, and containers.

Based on the application: 

  • Cargo/logistics 
  • Troop 
  • Utility 

Based on the propulsion type: 

  • Electric/Hybrid 
  • Gasoline 
  • Diesel 

Based on the transmission type: 

  • Automatic 
  • Semi-Automatic 
  • Manual 

Based on the axle configuration: 

  • 4x4 
  • 6x6 
  • 8x8 
  • Others 

Of these, the 8x8 segment accounts for a major share in the global military trucks market value and is likely to expand with a notable compound annual growth rate in the coming years.

Military Truck Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America is likely to expand with the highest CAGR for military trucks. Border disputes and diplomatic developments between the nations of the US and Mexico has led to increasing procurement of army vehicles within the country, which incorporates military trucks, and weapon systems. Therefore, Mexico is aiming to expand its adoption of military equipment. The Canadian government is strengthening its military by procuring advanced military equipment. As an example, The Canadian soldiers signed a contract of 628.98 USD million with Mack Defense includes the availability of the latest trucks, trailers, armor protection systems, and in-service support. In 2015, Mack Defense was awarded USD 834 million by the Canadian government to deliver 1,587 trucks with five years of in-service support. The United States government awarded a contract worth USD 6.7 billion to Oshkosh Corporation for the event of JLTVs to exchange its dependable but aging Humvee in 2016. The increased investments within the North American region for the development of advanced military trucks also are fueling the expansion of the market.

Asia-Pacific is predicted to grow at the best CAGR during the foreseen period from 2020 to 2028. Increasing defense expenditure of developing countries like China and India is driving the market growth within the region. Furthermore, increasing procurement and development of advanced armored vehicles by countries like South Korea, India, and China is additionally driving the market growth within the area.

Key Players of Market:

The key players in the global military trucks market are General Dynamics Corporation (US), BAE Systems, PLC (UK), Textron Inc. (US), Oshkosh Corporation (US), Elbit Systems Ltd  (Israel), Thales Group  (France), Lockheed Martin Corporation (US), Diehl Defence GmbH & Co. KG (Germany), Rheinmetall AG (Germany), Lenco Industries, Inc. (US), The Kalyani Group (India), Mitsubishi Heavy Industries, Ltd (Japan), INKAS Armored Vehicle Manufacturing (Canada), International Armored Group (US), IVECO (Italy), Krauss-Maffei Wegmann GmbH & Co. (Germany), Navistar, Inc. (US), and The Hyundai Motor Group (South Korea)

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Military Truck Market, By Truck Type                   

                    6.1.1 Light   

                    6.1.2 Medium         

                    6.1.3 Heavy  

                    6.1.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Military Truck Market, By Application                   

                    6.2.1 Cargo/Logistics        

                    6.2.2 Troops

                    6.2.3 Utility  

                    6.2.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Military Truck Market, By Propulsion Type            

                    6.3.1 Electric/Hybrid         

                    6.3.2 Gasoline        

                    6.3.3 Diesel  

                    6.3.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.5 Y-o-Y Growth Rate Analysis         

                    6.3.6 Market Attractiveness Index         

          6.4 Military Truck Market, By Transmission Type                  

                    6.4.1 Automatic      

                    6.4.2 Semi-Automatic       

                    6.4.3 Manual

                    6.4.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.5 Y-o-Y Growth Rate Analysis         

                    6.4.6 Market Attractiveness Index         

          6.5 Military Truck Market, By Axle Configuration                  

                    6.5.1 4x4     

                    6.5.2 6x6     

                    6.5.3 8x8     

                    6.5.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.5.5 Y-o-Y Growth Rate Analysis         

                    6.5.6 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Truck Type

                    7.2.3 By Application

                    7.2.4 By Propulsion Type  

                    7.2.5 By Transmission Type        

                    7.2.6 By Axle Configuration         

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Truck Type

                    7.3.3 By Application

                    7.3.4 By Propulsion Type  

                    7.3.5 By Transmission Type        

                    7.3.6 By Axle Configuration         

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Truck Type

                    7.4.3 By Application

                    7.4.4 By Propulsion Type  

                    7.4.5 By Transmission Type        

                    7.4.6 By Axle Configuration         

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Truck Type

                    7.5.3 By Application

                    7.5.4 By Propulsion Type  

                    7.5.5 By Transmission Type        

                    7.5.6 By Axle Configuration         

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Truck Type

                    7.6.3 By Application

                    7.6.4 By Propulsion Type  

                    7.6.5 By Transmission Type        

                    7.6.6 By Axle Configuration         

8. Key Player Analysis                           

          8.1 General Dynamics Corporation                  

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 BAE Systems, PLC                 

          8.3 Textron Inc.               

          8.4 Oshkosh Corporation            

          8.5 Elbit Systems Ltd                  

          8.6 Thales Group              

          8.7 Lockheed Martin Corporation           

          8.8 Diehl Defence GmbH & Co. KG                  

          8.9 Rheinmetall AG           

          8.10 Lenco Industries, Inc.          

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by  region, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Military Truck Market By Region, From 2021-2026 ( USD Billion )
  2. Global Military Truck Market By Truck Type, From 2021-2026 ( USD Billion )
  3. Global Light Market By Region, From 2021-2026 ( USD Billion )
  4. Global Medium Market By Region, From 2021-2026 ( USD Billion )
  5. Global Heavy Market By Region, From 2021-2026 ( USD Billion )
  6. Global Military Truck Market By Application Type, From 2021-2026 ( USD Billion )
  7. Global Cargo/Logistics Market By Region, From 2021-2026 ( USD Billion )
  8. Global Troops Market By Region, From 2021-2026 ( USD Billion )
  9. Global Utility Market By Region, From 2021-2026 ( USD Billion )
  10. Global Military Truck Market By Propulsion Type, From 2021-2026 ( USD Billion )
  11. Global Electric/Hybrid Market By Region, From 2021-2026 ( USD Billion )
  12. Global Gasoline Market By Region, From 2021-2026 ( USD Billion )
  13. Global Diesel Market By Region, From 2021-2026 ( USD Billion )
  14. Global Military Truck Market By Transmission Type, From 2021-2026 ( USD Billion )
  15. Global Automatic Market By Region, From 2021-2026 ( USD Billion )
  16. Global Semi-Automatic Market By Region, From 2021-2026 ( USD Billion )
  17. Global Manual Market By Region, From 2021-2026 ( USD Billion )
  18. Global Military Truck Market By Axle Configuration, From 2021-2026 ( USD Billion )
  19. Global 4x4 Market By Region, From 2021-2026 ( USD Billion )
  20. Global 6x6 Market By Region, From 2021-2026 ( USD Billion )
  21. Global 8x8 Market By Region, From 2021-2026 ( USD Billion )

Please wait. . . . Your request is being processed

LICENCE TYPE

$ 1234 4255

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample