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Rubber Tracks for Defense & Security Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3093

Rubber Tracks For Defense & Security Market Size is poised to register significant growth from 2022 to 2028, given the escalating demand for military vehicles and rapid upgrade of existing fleets. Rubbers tracks refer to circular rubber belts comprising of rubber, fiber, or metal materials. These rubber transmission belts are applied predominantly on moving systems and vehicles, as a replacement for tires and metal tracks. High-tech rubber tracks for defense and security vehicles are an ideal solution to make tracked vehicles safer, more comfortable, and eco-friendlier for the occupants.
 

Burgeoning preference for CRT (composite rubber tracks) over conventional metal tracks is a major driving force behind the growth of the rubber tracks for defense & security market over 2022-2028. Maintenance is a key aspect of operations in military vehicles, with regular replacement of sprockets, links, and other essential parts considered integral to performance optimization. Composite rubber tracks are emerging as a solution to these issues since they require little to no maintenance owing to their formation as a single high-endurance band. Furthermore, CRTs can decrease vibrations by up to 75% as compared to steel tracks, depending on the vehicle, making them ideal rubber tracks for military vehicles as well as the on-board sensors and electronics.
 

With regards to application, the rubber tracks for defense & security market from the IFV/AIFV segment is set to gain considerable momentum by 2028. This is driven mainly by the escalating production of vehicles across the globe, and the subsequent rise in the need for robust vehicle components like rubber tracks. In September 2021, Spain's Council of Ministers announced the authorization for the Ministry of Industry and Trade to sign a new contract with Tess Defence, a national consortium, for the production of the Dragón 8x8 wheeled IFV (infantry fighting vehicle) to be delivered to the Spanish army over the next ten years. Simultaneously, efforts are being made to test advanced rubber track solutions for these vehicles by players like Rheinmetall, which in November 2021, completed demonstration trials of the Soucy CRT (composite rubber track) system on the Lynx KF41 IFV, to enhance the ability of the vehicle to navigate dynamic threat situations.
 

North America is expected to emerge as a key revenue pocket for the rubber tracks for defense & security market by 2028. Surging investment in military expenditure in the region is one of the major contributing factors to this growth. For instance, based on estimates from SIPRI (Stockholm International Peace Research Institute), the U.S. military expenditure reached nearly $778 billion in 2020, indicating a 4.4 percent rise over 2019. Since most of this increase in spending is aimed at R&D and the establishment of modernization projects for existing military fleets, it could generate significant interest in advanced rubber track solutions for defense vehicles in the region.
 

Key rubber tracks for defense & security market participants include Martin’s Rubber Company Limited, Soucy Defense., LS Mtron Ltd., William Cook Group, Northern Plains Track, Mackay Rubber, and GMT Rubber among others. Strategic collaborations with military forces and new product launches are among the prominent initiatives being implemented by industry players to boost their presence in the global rubber tracks for defense & security market. In February 2021, the Defense Division of Soucy International was awarded a contract to produce and deliver SCRT (Segmented Composite Rubber Track) system prototype for the U.S. Army GVSC (Ground Vehicle Systems Center), as part of the PEM (Platform Electrification and Mobility) project. The objective behind this program was to develop, inculcate and study critical electrification and mobility technologies required for soldier experimentation of NGCV (Next-Generation Combat Vehicle) platforms, both manned and unmanned.

 

COVID-19 Impact on Rubber Tracks for Defense & Security Market Trends

Given the unprecedented impact of the novel coronavirus outbreak, vehicle production took a drastic hit during the peak of the pandemic, affecting the production of peripheral components like rubber tracks for security and defense as well, due to lockdowns and reduced demand. However, in recent months, key players have been making efforts to recover from the pandemic, by undertaking various strategies in an effort to solidify their position in the post-pandemic era. For instance, in December 2021, Loc Performance finalized the acquisition of the St. Marys facility of Continental, which produces rubber track solutions for the construction, defense, and agricultural industries. This move will allow Loc to deliver continuous and band track solutions to its military customers and will also help the firm expand its manufacturing capacities by moving the rubber application process in-house.
 

The rubber tracks for defense & security market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:

Market, by Application

  • IFV
  • AIFV

Market, by Product

  • Band Tracks
  • Pin Tracks

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

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • UAE
       

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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