The Business Research Company’s Military Truck Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032
— The Business Research Company
LONDON, GREATER LONDON, UK, October 20, 2023 /EINPresswire.com/ — The global military truck market is anticipated to reach $28.1 billion in 2027, demonstrating a CAGR of 3.9%. Segmented by truck type, propulsion, transmission type, and application, the market underscores the significance of evolving technologies and growing military expenditures driving the demand for modern military vehicles.
Market Drivers and Trends
The surge in military spending is a critical factor propelling the growth of the military truck market, fostering an increased demand for robust and technologically advanced military vehicles. Notably, product innovations stand out as a prominent trend, with companies like General Dynamics European Land Systems introducing the DURO-e, an all-electric all-terrain 4×4 vehicle, showcasing improved energy efficiency and multifunctional capabilities. Furthermore, strategic acquisitions, such as Allied Motion Technologies Inc.’s acquisition of FPH Group Inc., reflect the industry’s commitment to expanding its technological capabilities and market reach.
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Key market players include Mercedes-Benz Group AG, Ford Motor Company, Lockheed Martin Corporation, Volvo Defense AB, and ZF Friedrichshafen AG, among others.
•Truck Type: Segments include light, medium, and heavy military trucks.
•Propulsion: The market is categorized into diesel, gasoline, and electric or hybrid military trucks.
•Transmission Type: Automatic, semi-automatic, and manual transmissions are prominent within the market.
•Application: Key applications encompass cargo logistics, troops transport, and other strategic uses within the military ecosystem.
North America held the largest market share in the military truck market in 2022 and is expected to exhibit the fastest growth in the forecast period. The market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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Military Truck Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Military Truck Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on military truck market size, military truck market drivers and trends, military truck market major players, competitors’ revenues, market positioning, and market growth across geographies. The military truck market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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