Press release
Companies leading the global market for rubber tracks include Soucy International Inc., Ocean Rubber Factory LLC, COECA SA, William Cook Holding Limited
North America to Retain Dominance Led by US
North America currently holds the largest market share of over 31%, followed by MEA with a share of over 20% in terms of value. Europe is another key market for rubber tracks for defense and security. In terms of volume, Future Market Insights 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.
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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.
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 defense and security market.
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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 capitalize 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.
Segmental Outline
By Product Type
Rubber band track
Rubber pin track
By Vehicle Type
Tank
APC
IFV/AIFV
Recons
Others
By Vehicle Payload
8-12 Ton
12-14 Ton
15-45 Ton
Above 45 Ton
By Region
North America
Eastern Europe
Latin America
MEA
Japan
Western Europe
China
India
SEAP
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