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Just a few observations I've made while playing Pop'n Tanks!' Tank World mode:
The tank you pick at the start of Tank World mode is the one you're stuck with the whole game. There's no way to switch to another tank model. If you want to be a completionist about things and unlock everything the game has to offer, you'll need to run through Tank World eight times with all eight playable tanks.
In addition to earning parts through normal matches, there are special "challenge matches" that can be accessed through the first option of Tank News. Look for a blue headline (and shift your cursor up and down in case that blue headline is at the top). These challenge matches are available at the very start of a new Tank World file and for every five wins afterward. If you win the match, you'll earn a unique part that is not obtainable through normal matches. Assuming you win every one, your final challenge match will occur at 150 wins.
There are four additional battle arenas you'll unlock as you play that are not accessible in Quick Battle mode. You can also fight in these arenas in Custom Battle mode once you unlock them.
Rank Ups occur every 5 wins up to 50 wins. From then on they occur every 10 wins up to 150 wins. The final (?) Rank Up occurs at a whopping 200 wins. At this point you should have all four bonus arenas unlocked, all challenge matches cleared, and all parts for your selected tank unlocked. You will also be Rank 1 in the ranking listings.
Tank World seems to have no end! Even with 200 wins and everything unlocked, you can continue to challenge opponents. Probably a good thing, as your custom tanks can't be used in Quick Battle mode. Tank World is the only 1 player mode that allows use of custom tanks.