Military Truck Market Size, Share, Growth, and Industry Analysis, By Type (Electric Propulsion, Gasoline Propulsion and Diesel Propulsion), By Downstream Industry (Cargo/logistics, Troop, Utility and Others) and Regional Forecast to 2032

Updated On: 02 September 2024

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MILITARY TRUCK MARKET REPORT OVERVIEW

The global Military Truck Market Size was USD 706.86 million in 2023 and the market is projected to touch USD 6.67 billion by 2032, exhibiting a CAGR of 25.17% during the forecast period.

Military trucks are specially designed vehicles for military uses, which are built for transporting men, weapons and rations in the war field. These robust trucks are built with thick metal and other high-density materials to make them strong and durable in difficult terrains. They are constructed in a way that can manoeuvre through tough terrains including muddy, snowy and sandy as well as rocky surfaces most of which are experienced when operating on a battlefield. Military trucks can convey substantial loads and transport vital goods and equipment to difficult-to-reach locations for military use. Flexibility is the other factor that has been embraced, where many models are designed based on the mission profile, such as personnel transport, logistical supply and specialized roles. There is also a high level of reliability required on these vehicles given that any breakdown during operations is expected to have serious consequences.

Military trucks are important in the armed forces since they serve different purposes in transport, material handling, mobility, hauling, recovery and maintenance, and rescuing. They play a central role in the evacuation and transport of personnel, resources and machinery to and from the theatre and are essential for the fast deployment and repositioning of units in various operational environments. These trucks are a lifeline within the military as they ferry critical supplies that are vital for operations and boost the fighting formations. Prominent key players in this sector devote much effort and resources to developing and improving the dependability of military transport systems, which empower militaries to be ready and effective.

"COVID-19 Impact: Pandemic has closed production facilities across various countries thus limiting the market growth"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Production of military trucks has however been affected with lockdowns and restrictions which were placed to tame the spread of the virus. Due to the pandemic, there was a massive shutdown of production plants which adversely affected the market growth. The disruption of production timing and completion schedules affected the supply of military vehicles and the timely provision of critical military equipment. Therefore, it is evident that the pandemic severely impacted the military truck industry by disrupting defence agencies’ performance in sustaining the necessary operational readiness and efficiently implementing the anticipated procurement programs.

LATEST TRENDS

"Technological progression as a contributing factor towards the advancement of the market"

Technology is progressing in a manner that is improving military trucks, especially in the areas of logistics, surveillance and combat support. With the implementation of features such as adaptive cruise control, lane-keeping assist and obstacle detection and avoidance systems, these vehicles offer better safety and functionality thereby decreasing the dependency on the human driver in risky areas. Self-driving functionalities also enhance convoy functionality since the various vehicles work together in harmony by sharing information. This enhances convoy security, minimizes the chances of an ambush and improves tactical manoeuvrability through efficient transport, passage and supply of both personnel and material. Thus, automated military trucks are steadily emerging as critical enablers of modernising military transport and operating procedures, which in turn enshrine safer operation and mission accomplishment.

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MILITARY TRUCK MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Electric Propulsion, Gasoline Propulsion and Diesel Propulsion.

Electric Propulsion: The electric propulsion segment is steadily advancing within the military truck market due to the increasing number of electric and hybrid trucks. These vehicles use less fuel, produce fewer emissions and require less maintenance while making little noise and providing stealth mode. The developments in battery technology mean that they will have a longer range and will be more suitable for vastly improved military use.

Gasoline Propulsion: The gasoline propulsion segment is expected to advance in the military truck market because of the growing concern for emission-efficient vehicles. The advantages of a gasoline engine include better fuel economy, less spending on maintenance, lightweight and reduced complexities compared to the diesel engine which is preferred in areas that are restricted by size and weight. Due to low power output, these trucks are ideal for light duties such as transportation and supportive activities.

Diesel Propulsion: Military trucks running on diesel specifically hold a large market because of the power and torque needed for pulling and off-road operation. These engines provide the kind of reliability that is required in moving goods, machinery and people across large distances and through rough terrain. This technology has advocated reliability and performance in medium and heavy-duty military vehicles, thus becoming important.

By Downstream Industry

Based on downstream industry the global market can be categorized into Cargo/logistics, Troop, Utility and Others.

Cargo/Logistics: The cargo/logistics segment holds the largest share of the military truck market because trucks are crucial to moving and delivering supplies, equipment and materials required to execute operational missions. Military logistics trucks can effectively transport a large amount of merchandise and payloads over rugged terrains to provide for the front-line operating bases and battlegrounds. These trucks can be used in very unfavourable conditions, they are durable and can handle express use in military operations making them extremely valuable as they facilitate the movement of supplies and armed forces.

Troop: Military trucks are essential as they act as troop transport vehicles that enable the personnel to be moved safely and efficiently from one location to another or directly to the theatre of war. These specialized vehicles are designed to transport soldiers and their loads, this is because they have improved design in terms of the seating capacity of the vehicle and improved cabins that offer protection and off-road capabilities. The demand for troop transport trucks is the ability to move military forces and personnel to strategic locations depending on specific operation needs within a short time.

Utility: Utility military trucks also have specific purposes such as mobile workshops, command posts and water and fuel carriers. These all-terrain vehicles are cones for performing critical functions and supporting the autonomy of tactical groups when on deployment. The utility segment of the military truck market caters to the diverse operational needs of armed forces, allowing them to maintain readiness and sustain operations in remote or challenging locations.

Others: In addition to the primary applications of cargo/logistics, troop transport and utility, military trucks are also utilized for specialized roles, such as emergency response, disaster relief and training exercises. These niche applications contribute to the overall growth of the military truck market, as armed forces seek vehicles that can adapt to a variety of mission requirements. The ability to customize military trucks for specific purposes further expands their utility and enhances the overall capabilities of military forces.

DRIVING FACTORS

"Operational requirements and mission flexibility to boost the market"

Military trucks are used for the movement of troops, payloads and logistic support conveying equipment and supplies through various terrains and climate conditions to capture tactical advantages. Due to the versatility of military trucks, they are capable of meeting the varying mission needs altering the demand of the global military truck market growth based on its functionality for functions such as troop carriers, cargo haulers, fuel tankers and mobile command posts. With a focus on modern warfare, requirements for tactical trucks can navigate through different terrains, both off-road and difficult climate conditions and can operate in combat areas, become crucial. Such vehicles should be designed and manufactured to endure poor conditions and offer optimal performance for the intended uses, wherein. Through their capabilities to operate in challenging terrains and withstand harsh environments, they help deliver needed commodities and individuals to strategic military objectives thus preserving the functionality and preparedness of forces in challenging and ever-changing situations.

"Modernization initiatives and technological advancements in vehicle design and manufacture to expand the market"

Defence and military modernization programs are also pushing innovation and technological progress concerning vehicles’ construction and production. This is because funds have been set aside in various defence budgets for the procurement of new-generation vehicular systems and thus to ensure that new technologies and designs improve the performance, fuel efficiency and protection of trucks for military use, manufacturers are directing their resources to research and development. Specific research areas include propulsion technologies enhancement to increase fuel efficiency or power, autonomy to enhance safety and efficiency and integrated communication for enhanced cooperation and information sharing. Further, several methods of security advancements are being worked out to prevent threats and for the safety of vehicles and people. These developments do not only enhance the performance of military trucks but also ensure that these trucks are relevant for future missions, they offer solutions for many mission types.

RESTRAINING FACTORS

"Terrain versatility and mobility are the factors that hamper the market"

Military vehicles pose the great task of manoeuvring through different and harsh environments that include deserts, mountains and dense forests. In such conditions, specific engineering solutions are needed to provide the best performance and mobility. Military trucks have strong suspension systems, good ground clearance and strong, appropriate tyres to help traverse the tough terrains. These are self-explanatory and are usually coupled with traction control systems as well as a range of drive train options, allowing these vehicles to traverse adverse terrains such as hills, mud, snow and sand. Constant improvement in vehicle structure, mechanical systems and extensive testing are requisite to improve off-road capabilities without compromising organizational factors such as dependability and load carriage. This guarantees that military trucks are capable of delivering personnel, equipment and supplies throughout the territories as dictated by the operation requirements in different terrains, favouring operational efficiency and mission accomplishment in all forms of terrains.

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MILITARY TRUCK MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America dominates the market due to significant defence expenditures and vigorous investment programs"

North America is set to dominate the global military truck market share due to the increased defence budgets in the region’s countries. The region has a formidable military force base and has heavily invested in new defence vehicles developed and fleet renewal programs. This strategic emphasis on the enhancement of military capabilities is influenced by shifts in the relations within the region and border security, in general, especially, the bilateral relationships between the countries. All these trends contribute to the market leadership of North America because governments around the world are focused on procuring modern and technologically advanced military trucks capable of enhancing the readiness and operational efficiency of forces. These strategic investments are significant to assert its mandate of sustaining the numerical and qualitative supremacy as well as to cater for the emerging security threats, thus, reinforcing its unchallengeable position in the military truck sector.

KEY INDUSTRY PLAYERS

"Key industry players are investing in research and development to develop newer generation designs and material technologies for market expansion"

Key industry players in the military truck industry are firmly committed to investing in research and development of new technological platforms for new generations of vehicles. They include improving safeguarding, optimizing design standards and implementing advanced materials technology. New protection techniques and technologies involve better protection against bullets, shell shocks and RPGs, the incorporation of blast shields/suppressors and increased levels of survivability that can accommodate military personnel and sensitive military assets during a combat operation. Technological advancements in design to overcome challenges and enhance efficiency, agility and flexibility by achieving the best value for money in different terrains ranging from urban environments to wilderness. Furthermore, the use of high-tech composite and strong alloy materials in the structure improves vehicle robustness and performance without making concessions on the use objectives. These strategic investments bear testimony to the intent of the industry to provide customized solutions given the new requirement paradigms in defence and sustenance of the ability to offer future military trucks that offer performance, reliability and effectiveness in the future theatre of operation.

List of Market Players Profiled

• Scania (Sweden)
• Navistar International Corp (United States)
• Dongfeng (China)
• Tata Motors Limited (India)
• Hino (Japan)
• PACCAR Inc (United States)
• MAN (Germany)
• Volvo Group (Sweden)
• Iveco (Italy)
• Daimler Group (Germany)

INDUSTRIAL DEVELOPMENT

July 2024: Germany has committed to purchasing 6,500 tactical military trucks from Rheinmetall, valued at up to USD 3.8 billion. The deal includes the versatile UTF 5t and UTF 15t and introduces the new 4x4 UTF 3.5t, all part of Rheinmetall's HX family. This procurement marks Rheinmetall's largest military truck contract to date, supporting Germany's ongoing defence buildup amid heightened security concerns in Europe.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.