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North America Military Truck Market Forecast to 2028-Regional Analysis- by Application (Cargo/Logistics Carrier and Troop Carrier), Truck Type (Light Truck, Medium Truck, and Heavy Truck), Propulsion Type ( Electric/Hybrid and Diesel), and Transmission Type ( Automatic Transmission and Manual Transmission)
Market Report I 2023-06-09 I 106 Pages I The Insight Partners
The North America military truck market is expected to grow from US$ 6,689.11 million in 2023 to US$ 7,521.73 million by 2028. It is estimated to grow at a CAGR of 2.4% from 2023 to 2028.
Initiatives by Governments to Expand Their Military Troops Fuels North America Military Truck Market
Governments of various countries are working on expanding their military troops to enhance their capabilities. Moreover, the US, which is the top military power in the world according to the Global Firepower ranking, also focuses continuously on expanding its military troops. In January 2022, the US government announced that the Army's active-duty force exceeded its goal of adding 57,500 members by 106 people, thus recruiting 57,606 personnel. In addition, the Navy's active-duty force also exceeded its goal of recruiting 33,400 members by recruiting 33,559 new members in total by the end of September 2021. Thus, such growing recruitments in the military forces indicate the need for military trucks to transfer troops, fuel, and equipment along asphalted roads and unpaved dirt roads, thereby driving the growth of the North America military truck market.
North America Military Truck Market Overview
The North America military truck market is segmented into the US, Canada, and Mexico. The market growth in this region is attributed to the increasing military spending by the aforementioned countries. In March 2023, the US Department of Defense released the fiscal year 2024 defense budget. Under this budget, it proposed a request of US$ 842 billion for the Department of Defense (DoD), an increase of US$ 26 billion from FY 2023 and US$ 100 billion from FY 2022. Similarly, in the 2022 Budget by the government of Canada, US$ 8 billion was allotted for five years to bolster the capacity of the Canadian Armed Forces, support members, and promote culture change. In 2021, the military expenditure of Mexico was US$ 8,681 million.
Exhibit: North America Military Truck Market Revenue and Forecast to 2028 (US$ Million)
North America Military Truck Market Segmentation
The North America military truck market is segmented into application, truck type , propulsion type, transmission type, and country.
Based on application, the North America military truck market is segmented into cargo/logistics carrier and troop carrier. The troop carrier segment held a larger share of the North America military truck market in 2023.
Based on truck type, the North America military truck market is segmented into light truck, medium truck, and heavy truck. The heavy truck segment held the largest share of the North America military truck market in 2023.
Based on propulsion type, the North America military truck market is segmented into electric/hybrid and diesel. The diesel segment held a larger share of the North America military truck market in 2023.
Based on transmission type, the North America military truck market is segmented into automatic transmission and manual transmission. The automatic transmission segment held a larger share of the North America military truck market in 2023.
Based on country, the North America military truck market is segmented int o the US, Canada, and Mexico. The US dominated the share of the North America military truck market in 2023.
AB Volvo; Hyundai Rotem Co; Iveco Group NV; Navistar Defense LLC; Oshkosh Corp; and Rheinmetall AG are the leading companies operating in the North America military truck market .
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Military Truck Market Landscape
4.1 Market Overview
4.2 Porter Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Military Truck Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Initiatives by Governments to Expand Their Military Troops
5.1.2 Efforts by Companies to Provide High-Mobility and Multipurpose Solutions for Transportation
5.2 Key Market Restraints
5.2.1 Growing Use of Robots in Military Operations
5.3 Key Market Opportunities
5.3.1 Upsurge in Defense Budget
5.4 Future Trends
5.4.1 Electrification of Military Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Military Truck - North America Market Analysis
6.1 North America Military Truck Market Overview
6.2 North America Military Truck Market Revenue Forecast and Analysis
7. North America Military Trucks Market - By Application
7.1 Overview
7.2 North America Military Trucks Market, by Application (2022 and 2028)
7.3 Cargo/Logistics Carrier
7.3.1 Overview
7.3.2 Cargo/Logistics Carrier: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Troop Carrier
7.4.1 Overview
7.4.2 Troop Carrier: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
8. North America Military Trucks Market - By Truck Type
8.1 Overview
8.2 North America Military Trucks Market, by Truck Type (2022 and 2028)
8.3 Light-Duty Trucks
8.3.1 Overview
8.3.2 Light-Duty Trucks: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Medium Trucks
8.4.1 Overview
8.4.2 Medium Trucks: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Heavy Trucks
8.5.1 Overview
8.5.2 Heavy Trucks: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
9. North America Military Trucks Market Analysis - By Propulsion Type
9.1 Overview
9.2 North America Military Trucks Market, by Propulsion Type (2022 and 2028)
9.3 Electric/Hybrid
9.3.1 Overview
9.3.2 Electric/Hybrid: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Diesel
9.4.1 Overview
9.4.2 Diesel: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
10. North America Military Trucks Market - By Transmission Type
10.1 Overview
10.2 North America Military Trucks Market, by Transmission Type (2022 and 2028)
10.3 Manual Transmission
10.3.1 Overview
10.3.2 Manual Transmission: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
10.4 Automatic Transmission
10.4.1 Overview
10.4.2 Automatic Transmission: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
11. North America Military Truck Market - Country Analysis
11.1 Overview
11.1.1 North America Military Truck Market, By Key Country
11.1.1.1 US: North America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 US: North America Military Truck Market, By Application
11.1.1.1.2 US: North America Military Truck Market, By Truck Type
11.1.1.1.3 US: North America Military Truck Market, By Propulsion type
11.1.1.1.4 US: North America Military Truck Market, By Transmission Type
11.1.1.2 Canada: North America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Canada: North America Military Truck Market, By Application
11.1.1.2.2 Canada: North America Military Truck Market, By Truck Type
11.1.1.2.3 Canada: North America Military Truck Market, By Propulsion type
11.1.1.2.4 Canada: North America Military Truck Market, By Transmission Type
11.1.1.3 Mexico: North America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Mexico: North America Military Truck Market, By Application
11.1.1.3.2 Mexico: North America Military Truck Market, By Truck Type
11.1.1.3.3 Mexico: North America Military Truck Market, By Propulsion type
11.1.1.3.4 Mexico: North America Military Truck Market, By Transmission Type
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Oshkosh Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Rheinmetall AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Hyundai Rotem Co
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 AB Volvo
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Iveco Group NV
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Navistar Defense LLC
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Financial Overview
13.6.4 SWOT Analysis
13.6.5 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Military Truck Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Military Truck Market, By Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. US: North America Military Truck Market, By Application - Revenue and Forecast to 2028 (US$ Million)
Table 4. US: North America Military Truck Market, By Truck Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. US: North America Military Truck Market, By Propulsion type - Revenue and Forecast to 2028 (US$ Million)
Table 6. US: North America Military Truck Market, By Transmission Type - Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: North America Military Truck Market, By Application - Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: North America Military Truck Market, By Truck Type - Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: North America Military Truck Market, By Propulsion type - Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: North America Military Truck Market, By Transmission Type - Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: North America Military Truck Market, By Application - Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: North America Military Truck Market, By Truck Type - Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: North America Military Truck Market, By Propulsion type - Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: North America Military Truck Market, By Transmission Type - Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Military Truck Market Segmentation
Figure 2. North America Military Truck Market Segmentation - By Country
Figure 3. North America Military Truck Market Overview
Figure 4. North America Military Truck Market, By Truck type
Figure 5. North America Military Truck Market, By Country
Figure 6. Porter Analysis
Figure 7. North America Military Truck Market- Ecosystem Analysis
Figure 8. North America Military Truck Market Impact Analysis of Drivers and Restraints
Figure 9. North America Military Truck Market Revenue Forecast and Analysis (US$ Million)
Figure 10. North America Military Trucks Market Revenue Share, by Application (2022 and 2028)
Figure 11. Cargo/Logistics Carrier: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 12. Troop Carrier: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Military Trucks Market Revenue Share, by Truck Type (2022 and 2028)
Figure 14. Light-Duty Trucks: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. Medium Trucks: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. Heavy Trucks: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Military Trucks Market Revenue Share, by Propulsion Type (2022 and 2028)
Figure 18. Electric/Hybrid: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. Diesel: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Military Trucks Market Revenue Share, by Transmission Type (2022 and 2028)
Figure 21. Manual Transmission: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. Automatic Transmission: North America Military Trucks Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Military Truck Market , by Key Country- Revenue (2022) (US$ Million)
Figure 24. North America Military Truck Market Revenue Share, by Key Country (2022 & 2028)
Figure 25. US: North America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Canada: North America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Mexico: North America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
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