The military rubber tracks market size is projected to reach US$ 305.88 million by 2031 from US$ 158.67 million in 2023. The market is expected to register a CAGR of 8.6% during 2023–2031. The increasing adoption of rubber tracks to cater the rising production of unmanned military vehicles is likely to remain a key trend in the market.
The military rubber track market ecosystem comprises the following stakeholders – raw material providers, military rubber track manufacturers, and end users. The raw material providers supply materials such as rubber, polymers, and metal to manufacture military rubber tracks. The military rubber track manufacturers carry out processes such as designing and production to transform raw material into the finished product. The military rubber track manufacturers sell their products to different end users, such as the armed forces. This helps the manufacturers gain higher revenues, thereby catalyzing the growth of the military rubber track market.
Though rubber tracks have experienced rapid adoption across several types of military vehicles, steel tracks are majorly preferred for their durability across hard terrains. Rubber tracks are less durable than steel tracks across harsh surfaces such as hills and mountains. Steel tracks also offer more traction due to their weight and load distribution across mud and snowy surfaces. Rubber tracks are vulnerable to temperature; they become brittle in cold and malleable in heat. In case of operating the in harsh weather condition, the military forces face challenges while using rubber tracks or rubber pads as compared to steel tracks . Such factors have been impacting the military rubber tracks market.
The advantages of composite rubber tracks (CRTs) over traditional steel rubber tracks (SRTs) such as requirement of lesser maintenance, lesser load with higher durability, and better replacement frequency. SRTs requires maintenance of components such as links, sprockets, and road wheels need to be replaced every 600 kms whereas CRTs are a low-maintenance product that have the capability to operate up to 5000 km without maintenance or structural component replacement. Moreover, the fuel consumption of CRT-based military vehicles is much lower than SRT-based military vehicles. According to the insight partners’ analysis, comparing armoured personnel carriers (APCs) & infantry fighting vehicles (IFVs) with steel tracks to those with CRTs are more efficient to save at least 30% on fuel usage.
The key players operating in the global military rubber tracks market include Astrak UK Limited, DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, and Mackay Consolidated Industries Pty Ltd. These companies are constantly entering into new contracts to supply rubber tracks to various military vehicle manufacturers across the globe owing to the rise in procurement of tracked military vehicles by several military forces:
Such procurement of tracked military vehicles is likely to generate new opportunities for military rubber track market vendors in the coming years.
Key segments that contributed to the derivation of the military rubber tracks market analysis are type and end use.
The geographic scope of the military rubber tracks market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the market in 2023 followed by Europe and Asia Pacific. Further, Asia Pacific is likely to witness highest CAGR in the coming years. With the growing focus for improving the armored vehicle maneuverability and increasing government budget for procurement of advanced armored vehicles, and increasing maintenance, repair, and overhaul (MRO) operation of military armored vehicles, the rubber band track market is projected to witness significant traction over the forecast period. The United States has got the highest defense budget in the world. The country’s military expenditure in 2022 was US$ 876.94 billion which grew to US$ 916 billion in 2023. Northern Plains Track and Hutchinson Industries Inc. are the key companies that provide military rubber tracks in the US. Such factors have been driving the growth for North America military rubber tracks market.
The regional trends and factors influencing the Military Rubber Tracks Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Military Rubber Tracks Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 158.67 Million |
| Market Size by 2031 | US$ 305.88 Million |
| Global CAGR (2023 - 2031) | 8.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Military Rubber Tracks Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Military Rubber Tracks Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The military rubber tracks market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the military rubber tracks market are listed below:
Canadian Commercial Corporation (CCC) is pleased to announce that it was awarded a contract by the United States Department of Defense (U.S. DoD) to supply the U.S. Army with T-107 Ground Side Kevlar Rubber manufactured by Soucy Techno. (Source: Excella, Press Release, Apr 2024)
The “Military Rubber Tracks Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the military rubber tracks market in 2023.
Increasing demand for composite rubber base tracks and the rising military expenditure are some of the factors driving the growth for military rubber tracks market.
The rising adoption of rubber tracks across unmanned military vehicles is one of the major trends of the market.
Astrak UK Limited., DST Defence Service Tracks GmbH, GMT Rubber-Metal-Technic Ltd, Mackay Consolidated Industries Pty Ltd, Martin's Rubber Company Limited, Northern Plains Track, Northern Plains Track, Soucy, Ocean Rubber Factory LLC, and Hutchinson Industries Inc are some of the key players profiled under the report.
The estimated value of the military rubber tracks market by 2031 would be around US$ 305.88 million.
The military rubber tracks market is likely to register of 8.6% during 2023-2031.