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South & Central 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 101 Pages I The Insight Partners
The South & Central America military truck market is expected to grow from US$ 648.50 million in 2023 to US$ 711.29 million by 2028. It is estimated to grow at a CAGR of 1.9% from 2023 to 2028.
Initiatives by Governments to Expand Their Military Troops Fuels South & Central America Military Truck Market
Governments of various countries are working on expanding their military troops to enhance their capabilities. The demand for military trucks is increasing in the region to increase the operational cargo transport capacity and logistical support for the different training and community support activities. Hence, various South American countries are investing in the purchase of military trucks. For instance, in September 2021, the Argentinian MoD announced that it had ordered 54 Mercedes-Benz Atego 4x4 1726 trucks. These vehicles can transport approximately 15 metric tons of cargo or 17 troops. For this project, Fondo Nacional de la Defensa (FONDEF), the national defense fund, will provide ~US$ 10 million. Besten Handler, an Argentina-based company, was selected by MoD to provide the Atego 4x4s. 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 military truck market.
South & Central America Military Truck Market Overview
The military truck market in South & Central America is segmented into Brazil, Argentina, and the Rest of SAM. The demand for military trucks is increasing in the region to increase the operational cargo transport capacity and logistical support for the different training and community support activities. Hence, various South American countries are investing in the purchase of military trucks. In 2021, South American military expenditure was US$ 45.3 billion, which was a minor decrease of 0.6% compared to 2020. However, the region's total spending grew by 4.7% from 2012 to 2021. In SAM, Brazil is the largest military spender. However, in 2021, the military expenditure by the country decreased by 4.3% to US$ 19.2 billion. Colombia is the second-largest military spender in South America. In 2021, military spending in Colombia rose by 4.7% to US$ 10.2 billion. Thus, the growing military spending is fueling the growth of the military truck market in SAM.
Exhibit: South & Central America Military Truck Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Military Truck Market Segmentation
The South & Central America military truck market is segmented into application, truck type , propulsion type, transmission type, and country.
Based on application, the South & Central America military truck market is segmented into cargo/logistics carrier and troop carrier. The troop carrier segment held a larger share of the South & Central America military truck market in 2023.
Based on truck type, the South & Central America military truck market is segmented into light truck, medium truck, and heavy truck. The heavy truck segment held the largest share of the South & Central America military truck market in 2023.
Based on propulsion type, the South & Central America military truck market is segmented into electric/hybrid and diesel. The diesel segment held a larger share of the South & Central America military truck market in 2023.
Based on transmission type, the South & Central America military truck market is segmented into automatic transmission and manual transmission. The automatic transmission segment held a larger share of the South & Central America military truck market in 2023.
Based on country, the South & Central America military truck market is segmented int o Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the share of the South & Central America military truck market in 2023.
AB Volvo; Hyundai Rotem Co; Iveco Group NV; Oshkosh Corp; and Tata Motors Ltd are the leading companies operating in the South & Central 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. South & Central America Military Truck Market Landscape
4.1 Market Overview
4.2 Porter Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. South & Central 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 - South & Central America Market Analysis
6.1 South & Central America Military Truck Market Overview
6.2 South & Central America Military Truck Market- Revenue Forecast and Analysis (US$ Million)
7. South & Central America Military Truck Market - By Application
7.1 Overview
7.2 South & Central America Military Truck Market , by Application (2022 and 2028)
7.3 Cargo/Logistics Carrier
7.3.1 Overview
7.3.2 Cargo/Logistics Carrier: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Troop Carrier
7.4.1 Overview
7.4.2 Troop Carrier: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
8. South & Central America Military Truck Market - By Truck Type
8.1 Overview
8.2 South & Central America Military Truck Market , by Truck Type (2022 and 2028)
8.3 Light-Duty Trucks
8.3.1 Overview
8.3.2 Light-Duty Trucks: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Medium Trucks
8.4.1 Overview
8.4.2 Medium Trucks: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Heavy Trucks
8.5.1 Overview
8.5.2 Heavy Trucks: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Military Truck Market Analysis - By Propulsion Type
9.1 Overview
9.2 South & Central America Military Truck Market , by Propulsion Type (2022 and 2028)
9.3 Electric/Hybrid
9.3.1 Overview
9.3.2 Electric/Hybrid: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Diesel
9.4.1 Overview
9.4.2 Diesel: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
10. South & Central America Military Truck Market - By Transmission Type
10.1 Overview
10.2 South & Central America Military Truck Market , by Transmission Type (2022 and 2028)
10.3 Manual Transmission
10.3.1 Overview
10.3.2 Manual Transmission: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Automatic Transmission
10.4.1 Overview
10.4.2 Automatic Transmission: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11. South & Central America Military Truck Market - Country Analysis
11.1 Overview-
11.1.1 South & Central America Military Truck Market , By Key Country
11.1.1.1 Brazil: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Brazil: South & Central America Military Truck Market , By Application
11.1.1.1.2 Brazil: South & Central America Military Truck Market , By Truck Type
11.1.1.1.3 Brazil: South & Central America Military Truck Market , By Propulsion type
11.1.1.1.4 Brazil: South & Central America Military Truck Market , By Transmission Type
11.1.1.2 Argentina: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Argentina: South & Central America Military Truck Market , By Application
11.1.1.2.2 Argentina: South & Central America Military Truck Market , By Truck Type
11.1.1.2.3 Argentina: South & Central America Military Truck Market , By Propulsion type
11.1.1.2.4 Argentina: South & Central America Military Truck Market , By Transmission Type
11.1.1.3 Rest of South & Central America: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Rest of South & Central America: South & Central America Military Truck Market , By Application
11.1.1.3.2 Rest of South & Central America: South & Central America Military Truck Market , By Truck Type
11.1.1.3.3 Rest of South & Central America: South & Central America Military Truck Market , By Propulsion type
11.1.1.3.4 Rest of South & Central America: South & Central 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 Hyundai Rotem Co
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 AB Volvo
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 Tata Motors Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Financial Overview
13.4.4 SWOT Analysis
13.4.5 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
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. South & Central America Military Truck Market- Revenue and Forecast to 2028 (US$ Million)
Table 2. South & Central America Military Truck Market , By Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: South & Central America Military Truck Market , By Application - Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: South & Central America Military Truck Market , By Truck Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: South & Central America Military Truck Market , By Propulsion type - Revenue and Forecast to 2028 (US$ Million)
Table 6. Brazil: South & Central America Military Truck Market , By Transmission Type - Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina: South & Central America Military Truck Market , By Application - Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: South & Central America Military Truck Market , By Truck Type - Revenue and Forecast to 2028 (US$ Million)
Table 9. Argentina: South & Central America Military Truck Market , By Propulsion type - Revenue and Forecast to 2028 (US$ Million)
Table 10. Argentina: South & Central America Military Truck Market , By Transmission Type - Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of South & Central America: South & Central America Military Truck Market , By Application - Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of South & Central America: South & Central America Military Truck Market , By Truck Type - Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of South & Central America: South & Central America Military Truck Market , By Propulsion type - Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of South & Central America: South & Central America Military Truck Market , By Transmission Type - Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. South & Central America Military Truck Market Segmentation
Figure 2. South & Central America Military Truck Market Segmentation - By Country
Figure 3. South & Central America Military Truck Market Overview
Figure 4. South & Central America Military Truck Market , By Truck type
Figure 5. South & Central America Military Truck Market , By Country
Figure 6. Porter Analysis
Figure 7. South & Central America Military Truck Market - Ecosystem Analysis
Figure 8. South & Central America Military Truck Market Impact Analysis of Drivers and Restraints
Figure 9. South & Central America Military Truck Market- Revenue Forecast and Analysis (US$ Million)
Figure 10. South & Central America Military Truck Market Revenue Share, by Application (2022 and 2028)
Figure 11. Cargo/Logistics Carrier: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. Troop Carrier: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. South & Central America Military Truck Market Revenue Share, by Truck Type (2022 and 2028)
Figure 14. Light-Duty Trucks: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Medium Trucks: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Heavy Trucks: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. South & Central America Military Truck Market Revenue Share, by Propulsion Type (2022 and 2028)
Figure 18. Electric/Hybrid: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Diesel: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. South & Central America Military Truck Market Revenue Share, by Transmission Type (2022 and 2028)
Figure 21. Manual Transmission: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Automatic Transmission: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. South & Central America Military Truck Market , by Key Country- Revenue (2022) (US$ Million)
Figure 24. South & Central America Military Truck Market -Revenue Share, by Key Country (2022 & 2028)
Figure 25. Brazil: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Argentina: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of South & Central America: South & Central America Military Truck Market - Revenue and Forecast to 2028 (US$ Million)
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