The report “Armor Materials Market by Materials Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass), Application (Vehicle, Aerospace, Body, Civil, Marine), & Region (Asia Pacific, North America, Europe, South America) – Global Forecast to 2027″, size was USD 11.0 billion in 2021 and is projected to reach USD 16.1 billion by 2027, at a CAGR of 6.6% from 2022 to 2027.
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• 289 Market data Tables
• 56 Figures
• 273 Pages and in-depth TOC on “Armor Materials Market – Global Forecast to 2024”
Some of the prominent key players are:
· DuPont De Nemours, Inc. (US)
· Teijin Limited (Japan)
· 3M Company (US)
· ATI, Inc. (US)
· Honeywell International Inc. (US)
Opportunities: Rising military modernization programs
Technological advancements in materials science and engineering are driving the development of new and innovative armor materials. For example, the development of lightweight and high-strength materials such as ceramics, composites, and nanomaterials has revolutionized the armor materials industry. Modernization programs are essential for militaries to maintain their competitive edge, as technological advancements can quickly render older equipment and tactics obsolete. In addition, modernization programs can also improve operational efficiency, reduce costs, and enhance the safety and welfare of military personnel.
Vehicle armor was the largest application of the armor materials market, in terms of value, in 2021
Due to the increasing use of lightweight aluminum alloys in military vehicles like personnel carriers, which will spur market growth, the vehicle armor segment accounted for largest share in 2021, in terms of value. Lightweight aluminum alloys are utilized for equipment transportation, especially air transport for military vehicles, due to their superior performance.
North America is estimated to be the largest market for the armor materials market, in terms of value, during the forecast period.
North America is projected to be the largest market for armor materials, driven by the US Army’s constant need for advanced armor systems and the spike in demand for homeland security applications. Rising geopolitical and bilateral tensions exist among the major countries. Also, the rise in terrorist operations has resulted in a rise in the purchase of armor materials to produce defense gear.
