Volvo Defense AB; Tata Motors Ltd; Rheinmetall AG; Oshkosh Corporation; General Dynamics European Land Systems SLU –Prominent Market Participants in Military Truck Market
According to the Global Firepower ranking, the US ranks 1st out of 145 countries in terms of military strength in 2023. The country is continuously investing in upgrading its military capabilities and adopting new technology. Along with the US, other North American countries are also investing in expanding the fleet of their military vehicles. For instance, in April 2020, the government of Canada received 1,587 trucks and 322 trailers from Mack Defense as the last part of the Medium Support Vehicle System (MSVS) Standard Military Pattern (SMP) program. These new trucks were procured to replace the trucks that were in service since the 1980s.
A large number of market players, including Arquus SAS, Rheinmetall AG, TATRA TRUCKS AS, General Dynamics European Land Systems SLU, AB Volvo, and Iveco Group NV, have presence in Europe. These market players are continuously working on advancing the military trucks based on the requirement of the armed forces of different countries. For instance, in January 2023, Rheinmetall AG, in collaboration with GM Defense, received the prototype contracts from the US Army. Thus, the increasing expansion efforts by military truck vendors in Europe favor the market growth in the region.
Report: https://www.theinsightpartners.....com/reports/militar
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