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Global rubber tracks for defense market forecast at $63 billion by 2033

Pune, India – The global rubber tracks for defense and security market was estimated to be worth US$ 26.8 billion in 2023. Future Market Insights anticipates that the rubber tracks for defense and security market is likely to expand at a CAGR of 8.94% between 2023 and 2033, totaling around US$ 63.1 billion by 2033.

Growth in the awareness about the benefits of rubber tracks among defense and security personnel is anticipated to boost their demand shortly. Further, a surge in the demand for rubber tracks from the defense and security sector owes to its superior features such as durability, low noise levels, and high traction.

An increase in investments by governments worldwide thus, creates key opportunities for rubber track manufacturers in the coming years. The procreation of terrorism and insurgencies across different parts of the world has led to an increase in the acquisition of armored vehicles by defense forces and fuels the growth of the market.

Companies aim to develop cutting-edge solutions during the entire life cycle of a product, from the design and inception phase to the end of its service life. They also strategically locate their main factories in emerging markets to make it ideal to service the developing markets. Some of the new developments of rubber tracks for the defense and security market are-

A complete design service was provided using techniques that included computer modeling, multi-directional vibration analysis, and finite element analysis. These methods were used in the creation of individualized solutions for meeting an application’s highly specific needs.
Key Companies Profiled