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The military trucks industry is experiencing significant trends driven by rising testing and evaluations conducted by armies on these vehicles. Militaries worldwide are increasingly focusing on testing and estimating the performance of military trucks to ensure they meet the evolving operational requirements. These evaluations include rigorous field tests, simulations, and assessments to gauge factors like durability, reliability, maneuverability, and adaptability to various terrains and conditions.
As a result, there's a growing emphasis on innovation and advancement in military trucks technologies to address identified shortcomings and enhance capabilities. Moreover, the feedback from such testing plays a crucial role in shaping the design and development of future military trucks models, reflecting a trend toward more tailored and mission-specific vehicles.
For an instance, in January 2024, the American Army announced its plan to commence testing four industry offerings for its Common Tactical Truck program. The Common Tactical Truck (CTT) initiative sought to replace the M1088 Medium Tractor, M915 Line Haul Tractor, Palletized Load System, and Heavy Expanded Mobility Tactical Truck in the Army's tactical vehicle fleet by 2028.
Asia Pacific military trucks industry held a share of over 30% in 2023, owing to increasing tensions and security concerns.
The heavy-duty trucks vehicle segment accounted for over 46% of the market share in 2023, as they are crucial for transporting troops, across challenging terrains and harsh environments.
The market size of military truck reached USD 24.7 billion in 2023 and will grow at over 3.5% CAGR between 2024 and 2032, led by the strong need for rapid deployment.
AB Volvo, Lockheed Martin, Dailmer AG, Navistar Defense, Iveco S.p.A., and General Dynamics Land Systems among others.