Rubber tracks for defence/security market to reach US$144 mn

July 9, 2018

Automotive-&-TransportationThe global rubber tracks for the defence and security market is expected to follow gradual growth over a ten-year forecast period 2017-2027 and is poised for a CAGR of 3.9% over the assessment period and reach US$144.5 million by 2027, up from US$ 98.4 million in 2017.

According to a recently published research report by Future Market Insights (FMI), titled “Rubber Tracks for Defense and Security Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027,” the volatile rubber pricing scenario is considered to be a predominant factor restraining rubber sales, ultimately affecting the rubber tracks market performance.

North America currently holds the largest market share of over 31%, followed by EMEA with a share of over 20% in terms of value. Europe is another key market for rubber tracks in this market. In terms of volume, FMI identifies dominance of EMEA and North America in the global market in 2017. In terms of basis points, North American and Eastern European markets are projected for a considerable gain, whereas all other regions are expected to see a slight decline in near future. North America will reportedly retain the dominance with a promising CAGR of over 5%; Eastern Europe will be a steadily growing market over the next decade.

North America has been dealing with immense pressure due to internal as well as external terrorism since the past few years. This has been detected as a key factor driving the demand for military vehicles within the North American market. Increasing investment of the US Army in battle tanks and other vehicles is predicted to directly boost the sales of rubber tracks in this region, the US being the leading market in this region.

Global-rubber

Top Global Players Based in North America to Maintain Maximum Revenue Shares

Soucy International Inc., Ocean Rubber Factory LLC, COECA SA, William Cook Holding Limited (Cook Defense Systems), LS Mtron Ltd., GMT Rubber and Metal Technic Ltd, Martin’s Rubber Company Ltd., Cauchos Puntes S.L, Mackay Consolidated Rubber Technology, Northern Plains Track (Camso Group), and TGL SP Industries Ltd. are some of the major companies actively operating in the competitive landscape of the global rubber tracks for the defence and security market.

These key companies are focusing more on:

  • Enhanced lifespan and improved efficiency
  • Reduced weight and operational costs
  • Long-term contracts with end-use industries
  • Product innovation

As far as North America-based players are considered, Soucy International Inc. has been the global leader and Camso Group is identified to be striving to enter the military vehicle market for rubber band. Soucy has been the largest rubber tracks supplier for leading OEMs and various Ministry of Defense departments over the years. The company concentrates more on strategic collaborations and is likely to capitalise on opportunities presented by end-users operating in snowy areas and deserts. Camso Groups stands out on account of its expertise in designing, engineering, and manufacturing the most mature technology specifically for mission survivability in hostile environments.

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Rubber Prices
(Last Updated: 12 Nov 2018)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals


Source: Latex India

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