Armor Materials - Global Market Outlook (2017-2023)
According to Stratistics MRC, the Global Armor Materials Market is accounted for $8.35 billion in 2016 and is expected to reach $13.98 billion by 2023 growing at a CAGR of 7.6% during the forecast period. Growing demand for motherland security, technological advancement of weapons, rising security issues and growing terrorism activities across the world are some of the key factors favouring the market growth. However, huge costs of manufacturing and strict government rules are hampering the market.
Armor materials refer to the materials which are used to strengthen and upgrade the armor. These armor materials are used in various armors such as helmet, vest, vehicle and others. Several global armor material manufacturers are developing and manufacturing light weight and durable armor materials. These lightweight armor systems are more effective in complex situations.
Ceramic materials have been used successfully in personal armor systems to defeat small-arms threats. They are preferred for personal armor systems because they are lighter than more traditional armor made of metallic alloys. Ceramic armor can be used to protect vehicles as well as individual personnel. Ceramics are known to be some of the hardest materials, and unlike materials such as Kevlar ceramics break the bullet. The strongest and lightest ceramic is boron carbide. The commercially manufactured ceramics for armor include materials such as boron carbide, aluminium oxide, silicon carbide, titanium boride, aluminium nitride, and synthetic diamond composite.
North America captured the largest market share of the Armor Materials market during the forecast period. Asia Pacific is anticipated to grow at the fastest CAGR due to growing security issues and battles among the nations in the region.
Some of the key players in Armor Materials market include DuPont, 3M Ceradyne, Inc., Tata Steel Limited, Waco Composites, Xeracarb Ltd., PPG Industries, Inc., Honeywell International Inc., CoorsTek, Inc., Morgan Advanced Materials, Royal Tencate NV, AGY Holding Corp., JPS Composites Materials, Surmet Corporation, CPS Technologies Corp, Allegheny Technologies, Inc., Waco Composites and Saint-Gobain S.A.
• Civil Armor
• Aerospace Armor
• Marine Armor
• Vehicle Armor
• Body Armor
• Other Applications
Product Types Covered:
• Ultra High Molecular Weight Polyethylene (UHMWPE)
• Para-Aramid Fiber
• Metals & Alloys
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
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