Military Trucks Market Size - By Truck (Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks), By Fuel (Diesel, Natural Gas, Hybrid Electric) By Application (Cargo & Troop Transportation, Utility) & Forecast, 2024 - 2032

Military Trucks Market Size

Military Trucks Market size was valued at USD 24.7 billion in 2023 and is estimated to register a CAGR of over 3.5% between 2024 and 2032. With the evolution of modern warfare tactics and the need for rapid deployment, militaries are investing significantly in upgrading their logistics capabilities.
 

For instance, in February 2024, the British Army announced that it is poised to procure 500 support trucks within the next seven months, thanks to a USD 354 million contract with Rheinmetall MAN Military Vehicles (RMMV). Companies like Oshkosh Corporation, BAE Systems, and General Dynamics have been witnessing a surge in orders for their military trucks offerings. This rising demand is fueled by the need for advanced transport solutions that can efficiently transport troops, equipment, and supplies, ensuring the readiness and effectiveness of military forces in the face of evolving threats.
 

The military trucks market is experiencing a surge in demand due to increasing government investments in military vehicles. Governments worldwide are allocating substantial budgets to enhance their military capabilities, particularly in terms of transportation and logistics. Military trucks are vital components of these investments, serving as the backbone of military logistics operations. These vehicles are designed to withstand rugged terrains, transport troops, and carry heavy equipment and supplies efficiently.
 

As geopolitical tensions rise and security threats evolve, there is a growing need for modernized and versatile military transport solutions. Consequently, leading companies in the military trucks industry are witnessing a significant uptick in orders as governments prioritize the procurement of advanced vehicles to ensure the readiness and effectiveness of their armed forces.
 

The military truck market faces several restraints that impact its growth and development. Budget constraints in many countries limit the amount of funding available for military procurement, including trucks. Governments often prioritize spending on other defense sectors, leading to reduced allocations for new truck purchases.
 

Additionally, geopolitical uncertainties can hinder international trade and investment, affecting the flow of military trucks exports and imports. Moreover, technological challenges in designing and producing advanced military trucks can slow down innovation and product development. Lastly, environmental regulations and concerns push for more eco-friendly solutions, which may require costly modifications to existing military trucks designs.
 

Military Trucks Market Trends

The military trucks industry is experiencing significant trends driven by rising testing and evaluations conducted by armies on these vehicles. Militaries worldwide are increasingly focusing on testing and estimating the performance of military trucks to ensure they meet the evolving operational requirements. These evaluations include rigorous field tests, simulations, and assessments to gauge factors like durability, reliability, maneuverability, and adaptability to various terrains and conditions.
 

As a result, there's a growing emphasis on innovation and advancement in military trucks technologies to address identified shortcomings and enhance capabilities. Moreover, the feedback from such testing plays a crucial role in shaping the design and development of future military trucks models, reflecting a trend toward more tailored and mission-specific vehicles.
 

For an instance, in January 2024, the American Army announced its plan to commence testing four industry offerings for its Common Tactical Truck program. The Common Tactical Truck (CTT) initiative sought to replace the M1088 Medium Tractor, M915 Line Haul Tractor, Palletized Load System, and Heavy Expanded Mobility Tactical Truck in the Army's tactical vehicle fleet by 2028.
 

Military Trucks Market Analysis

Based on truck, the market is divided into light-duty trucks, medium-duty trucks, and heavy-duty trucks. The heavy-duty trucks segment accounted for a market share of over 46% in 2023. These robust vehicles are crucial for transporting troops, equipment, and supplies across challenging terrains and harsh environments. As military operations become increasingly complex and global, there is a growing need for heavy-duty trucks that can withstand the rigors of modern warfare. These vehicles provide essential logistical support, ensuring the mobility and readiness of armed forces in various operational scenarios.
 

Consequently, there is a sustained demand for heavy-duty military trucks, with governments and defense organizations investing in acquiring and upgrading their fleets to meet operational requirements.
 

Based on application, the military trucks market is categorized into cargo and troop transportation, and utility. The cargo and troop transportation segment is expected to hold over USD 25 billion revenue by 2032. Military trucks serve as the backbone of logistics operations, facilitating the movement of troops, equipment, and supplies in diverse terrains and combat situations. These vehicles are designed to offer durability, versatility, and reliability, ensuring the swift and secure transportation of personnel and materials across various operational theaters.
 

With the evolving nature of warfare and the need for rapid deployment, there is a continuous requirement for military trucks optimized for cargo and troop transport. Consequently, this demand fuels innovation and development within the market.
 

Asia Pacific dominated the global military trucks market with a major share of over 30% in 2023. With increasing tensions and security concerns, many countries in the region are bolstering their defense capabilities, including upgrading their military vehicle fleets. This demand is further fueled by modernization programs, territorial disputes, and geopolitical tensions. Additionally, the region's diverse terrain, ranging from dense forests to mountainous regions, requires specialized military trucks capable of operating in such environments.
 

As a result, leading manufacturers are witnessing a surge in orders for military trucks tailored to the specific needs and challenges of the Asia-Pacific region, driving growth in the market.
 

The United States is a significant demand driver in the military trucks market. With the largest defense budget globally, the U.S. Department of Defense continually invests in modernizing its military fleet, including trucks. These vehicles are essential for transporting troops, equipment, and supplies in various operational scenarios, both domestically and overseas.
 

As the U.S. military adapts to evolving threats and challenges, there's a continuous need for advanced military trucks equipped with cutting-edge technologies. Additionally, the U.S. military's global presence and involvement in international missions further amplify the demand for military trucks, making the U.S. a crucial market for manufacturers in this sector.
 

Military Trucks Market Share

Lockheed Martin, Iveco S.p.A., and Daimler AG assert dominate in the military trucks industry holding market share over 20% through their comprehensive capabilities and global reach. Lockheed Martin's expertise in defense systems and technology integration, coupled with Iveco's proficiency in vehicle manufacturing and Daimler AG's innovation in automotive engineering, collectively provide a dominating force.
 

Leveraging extensive experience, robust supply chains, and strategic partnerships, these companies offer tailored solutions for military applications. Their commitment to quality, reliability, and customer satisfaction ensures that they remain at the forefront of the market, meeting the diverse needs of armed forces worldwide. Through ongoing research, development, and collaboration, Lockheed Martin, Iveco S.p.A., and Daimler AG continue to drive innovation and set industry standards, solidifying their positions as leaders in the military trucks segment.
 

Military Trucks Market Companies

Major companies operating in the military trucks industry are:

• AB Volvo
• Lockheed Martin
• Dailmer AG
• Navistar Defense
• Iveco S.p.A., 
• General Dynamics Land Systems
• Mitsubishi Heavy Industries, Ltd.
• Oshkosh Corporation
• Mahindra Emirates Vehicle Armouring
• Renault Trucks Defense
   

Military trucks Industry News

• In February 2024, American Rheinmetall Vehicles and GM Defense provided three truck prototypes for the initial phase of the U.S. Army Common Tactical Truck (CTT) Program. The partnership's submission, known as the HX3 CTT, is built on the battle-tested HX family of trucks that were in use by various NATO and US-allied nations.
   
• In July 2023, Ashok Leyland, the Indian flagship of the Hinduja Group and the largest supplier of logistics vehicles to the Indian military, announced that it had secured significant orders for defense vehicles worth USD 10.67 million.
   

The military trucks market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and shipment (Units) from 2021 to 2032, for the following segments:

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Market, By Vehicle

• Light-duty trucks
• Medium-duty trucks
• Heavy-duty trucks

Market, By Fuel

• Diesel
• Natural gas
• Hybrid electric
• Others 

Market, By Application

• Cargo & troop transportation
• Utility

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • UAE
  • South Africa
  • Saudi Arabia
  • Rest of MEA