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Need for Enhanced Vehicular Safety in Defense to Spur Commercial Vehicle Run-flat Tire Inserts Market
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Defense Sector Driver of Commercial Vehicle Run-flat Tire Inserts Market
The main type segments in the commercial vehicle run-flat tire inserts market are tires with a size ranging from 17 inches to 24 inches. The 20 inch tire segment is the largest segment as it finds the widest application across diverse sectors and is used by the vast majority of defense and military vehicles. It is quite likely that the 20 inch tire segment should hold onto its lead in the commercial vehicle run-flat tire inserts market. The commercial vehicle run-flat tire inserts market serves the military & defense, transportation & logistics, agricultural, construction, manufacturing, and other sectors.
Military & defense have the maximum demand in the commercial vehicle run-flat tire inserts market. Run-flat tire inserts are preferred in military vehicles because they make uninterrupted movement possible – critical in life-or-death situations faced frequently by military & defense personnel. The mandatory requirement to equip military vehicles with run-flat tire inserts are projected to benefit the commercial vehicle run-flat tire inserts market for the duration studied.
North America Drives the Commercial Vehicle Run-flat Tire Inserts Market
The global commercial vehicle run-flat tire inserts market has been segmented into five geographic regions viz. North America, South America, MEA, APAC, and Europe. North America is the region with the greatest opportunity at present in the commercial vehicle run-flat tire inserts market largely because the U.S. spends more on defense than any other nation today. In addition, a number of military & defense corporations have their base of operations in the country leading to large-scale investments in advanced technologies.
Europe is currently the second largest contributor to the commercial vehicle run-flat tire inserts market but APAC is anticipated to grow at a more rapid pace from 2017-2025. Countries such as China and India have committed huge funds to strengthening their domestic manufacturing, transportation, and military & defense industries. Regional governments have reported double digit hikes in defense expenditure, leading to ample opportunities for key stakeholders in the commercial vehicle run-flat tire inserts market.
A few of the companies profiled by Market Research Reports Search Engine in our report are TAC Run Flat Tire Systems, Hutchinson Industries Inc., RunFlat International, Briscoe Technologies Lasco International Group, Terra Track, Runflat CBR, Mas Makina Metal Ltd., and Bulldog Direct Protective Systems Inc.
Browse Full Report with TOC : http://www.mrrse.com/commercial-vehicle-run-flat-tire-inserts-market
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