Fire Truck Manufacturing in the US - Industry Market Research Report

Fire Truck Manufacturing in the US - Industry Market Research Report

Fire Truck Manufacturing in the US

The Fire Truck Manufacturing industry largely depends on government funding. Over the past five years, local and state government funding has decreased, reducing manufacturers' spending on new firefighting vehicles. However, federal funding for homeland security has grown, contributing to increased funding for the Assistance to Firefighters Grant (AFG) program. The AFG program assists fire departments in acquiring new vehicles and outfitting departments with safety equipment, which has grown to $370.0 million in 2023, up from $350.0 million in 2018. Over the five years to 2023, revenue has fallen at a CAGR of 6.0% to $2.2 billion, including an expected 2.1% increase in 2023. Profit is expected to account for 4.2% of revenue in 2023, remaining relatively unchanged from 2018.

This industry manufactures fire trucks and fire engines. These vehicles assist in fighting fires by transporting firefighters and essential equipment, such as pumps, ladders and safety gear, to the scene of fires.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.