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Rubber Tracks for Defense & Security Market Size, Key Players, Growth Factors, Regions and Applications, Industry Forecast by 2027

 The global rubber tracks for defense and security market is apprehended to follow gradual growth over a 10-year forecast period 2022-2028. According to a recently published research report by Future Market Insights, titled “Rubber Tracks for Defense and Security Market: Global Industry Analysis 2017 – 2021 and Opportunity Assessment 2022-2028,” the market is poised for a CAGR of 3.9% over the assessment period and will reach US$ 144.5 Mn by 2028 end, up from US$ 98.4 Mn registered in 2017. Volatile rubber pricing scenario is considered to be a predominant factor restraining rubber sales, ultimately affecting the rubber tracks market performance.

[285 Pages] The Rubber Tracks for Defense & Security market is estimated at US$ 118.5 Mn in 2022 and is projected to reach US$ 144.5 Mn by 2027, at a CAGR of 3.7% from 2013 to 2021. Future Market Insights (FMI) has forecasted the Rubber tracks for defense & security market to grow with a year on year growth of 4.2% in 2022. Armored personnel carriers, or commonly known as APCs, have played a critical role in military operations, providing greater protection and allowing for better infantry deployment in high-risk regions. The global business is anticipated to witness a considerable CAGR of 4.0% during the period of 2022 and 2027.

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North America to Retain Dominance Led by US

North America currently holds the largest market share of over 31%, followed by MEA with a share of over 20% in terms of value. Europe is another key market for rubber tracks for defense and security. In terms of volume, Future Market Insights identifies dominance of EMEA and North America in the global market in 2017. In terms of basis points, North American and Eastern European markets are projected for a considerable gain, whereas all other regions are expected to see a slight decline in near future. North America will reportedly retain the dominance with a promising CAGR of over 5%; Eastern Europe will be a steadily growing market over the next decade.

North America has been dealing with immense pressure due to internal as well as external terrorism since the past few years. This has been detected as a key factor driving the demand for military vehicles within the North American market. Increasing investment of the US Army in battle tanks and other vehicles is predicted to directly boost the sales of rubber tracks in this region, the US being the leading market in this region.

Top Global Players Based in North America to Maintain Maximum Revenue Shares

Soucy International Inc., Ocean Rubber Factory LLC, COECA SA, William Cook Holding Limited (Cook Defense Systems), LS Mtron Ltd., GMT Rubber and Metal Technic Ltd, Martin’s Rubber Company Ltd., Cauchos Puntes S.L, Mackay Consolidated Rubber Technology, Northern Plains Track (Camso Group), and TGL SP Industries Ltd. are some of the major companies actively operating in the competitive landscape of the global rubber tracks for defense and security market.

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Key companies are focusing more on:

  • Enhanced lifespan and improved efficiency
  • Reduced weight and operational costs
  • Long-term contracts with end-use industries
  • Product innovation

As far as North America-based players are considered, Soucy International Inc. has been the global leader and Camso Group is identified to be striving to enter the military vehicle market for rubber band. Soucy has been the largest rubber tracks supplier for leading OEMs and various Ministry of Defense departments over the years. The company concentrates more on strategic collaborations and is likely to capitalize on opportunities presented by end-users operating in snowy areas and deserts. Camso Groups stands out on account of its expertise in designing, engineering, and manufacturing the most mature technology specifically for mission survivability in hostile environments.

Key Players

  • Deere & Company
  • Soucy International Inc.
  • Ocean Rubber Factory LLC
  • COECA SA
  • William Cook Holding Limited (Cook Defense Systems)
  • LS Mtron Ltd
  • GMT Rubber Metal Technic Ltd
  • Martin’s Rubber Company Ltd
  • Cauchos Puntes S.L
  • Mackay Consolidated Rubber Technology
  • Northern Plain Tracks (Camso Group)

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Segmental Outline

By Product Type

  • Rubber band track
  • Rubber pin track

By Vehicle Type

  • Tank
  • APC
  • IFV/AIFV
  • Recons
  • Others

By Vehicle Payload

  • 8-12 Ton
  • 12-14 Ton
  • 15-45 Ton
  • Above 45 Ton

By Region

  • North America
  • Eastern Europe
  • Latin America
  • MEA
  • Japan
  • Western Europe
  • China
  • India
  • SEAP

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/rubber-tracks-for-defense-and-security-market
Press Release Source: https://www.futuremarketinsights.com/press-release/rubber-tracks-for-defense-and-security-market

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