The latest research study “Armor Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global armor materials market reached a value of US$ 11.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 16.5 Billion by 2027, exhibiting a CAGR of 6.20% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Industry Definition and Application:
Armor materials are the specialized protective fabrics that are used for absorbing shocks and minimizing the damage inflicted by external forces. They absorb the impact of bullets by dispersing the incoming energy across the surface. Armor materials are manufactured utilizing leather, ceramics, metals, para-aramid fiber, fiberglass materials, etc. They are also produced using aluminum oxide, boron carbide, titanium boride, silicon carbide, synthetic diamond composite, aluminum nitride, etc. Armor materials exhibit high structural strength, fracture and crack resistance, chemical inertness, etc. Consequently, they are widely used in bulletproof vests, helmets, armors, vehicles, etc.
Global Armor Materials Market Trends and Drivers:
The expanding defense sector is primarily driving the armor materials market, since these products are used to protect soldiers on the battlefield during combat operations and reduce the intensity of bullets or weapons. Additionally, the widespread product utilization to protect military vehicles from missiles, bullets, ammunition, etc., is further catalyzing the market growth. Besides this, the launch of lightweight armor materials that are highly flexible and sustainable and provide enhanced protection is acting as another significant growth-inducing factor. Furthermore, the increasing product requirement in the marine industry to protect assets against shellfire, underwater torpedoes, ultraviolet (UV) rays, etc., is also augmenting the global market. Apart from this, the widespread adoption of ultra-high-molecular-weight polyethylene to produce flexible, durable, and lightweight bulletproof vests is anticipated to fuel the armor materials market in the coming years.
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|Armor Materials Market Report Scope|
|Market size value in 2021||US$ 11.2 Billion|
|Market forecast in 2027||US$ 16.5 Billion|
|Growth Rate||CAGR of 6.20% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Protection Type, Application, Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||Allegheny Technologies Incorporated, Avon Rubber p.l.c., CeramTec TopCo GmbH, CoorsTek Inc., DuPont de Nemours Inc., Honeywell International Inc, Koninklijke DSM N.V., Koninklijke Ten Cate B.V., Morgan Advanced Materials, PPG Industries Inc., Saab AB and Saint-Gobain S.A.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Type:
- Metals and Alloys
- Para-Aramid Fibers
- Ultra-High-Molecular-Weight Polyethylene
Breakup by Protection Type:
- Airborne Ballistics
- Blasts and Explosion
Breakup by Application:
- Body Armor
- Civil Armor
- Marine Armor
- Vehicle Armor
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Allegheny Technologies Incorporated, Avon Rubber p.l.c., CeramTec TopCo GmbH, CoorsTek Inc., DuPont de Nemours Inc., Honeywell International Inc, Koninklijke DSM N.V., Koninklijke Ten Cate B.V., Morgan Advanced Materials, PPG Industries Inc., Saab AB and Saint-Gobain S.A.
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