Armor Materials Market Outlook 2031
The global armor materials market size was USD 11.73 Billion in 2022 and is projected to reach USD 20.85 Billion by 2031 expand at a substantial CAGR 6.6% during the forecast period, 2023 to 2031. Armor materials are used as tools for protection against any impact of weapons or projectiles.
The armor comprising of advanced fiber absorbs the impact of bullets by diffusing the energy across the large area of the armor. armor materials are used in multiple applications including body armors, aerospace, and vehicle.
Armor Materials Market Trends, Drivers, Restraints, and Opportunities:
- Increasing political unrest and instability and rising terrorism are fuelling the global armor materials market. For instance, political conflicts in countries such as Iraq and Syria are increasing the need for advanced armor.
- Growing investments in military and defense warfare and modernization in military programs are augmenting the growth of this market globally.
- Rising concerns regarding the security of civilians including government officials and reporters is propelling the growth of this market.
- Increasing expenditures on defense to enhance military vehicle performance to ward off external attacks are propelling the market growth.
- Aircraft security systems yielding high investments are expected to drive the market.
- Growing international terrorism and the utilization of high-tech weapons are creating opportunities in the market.
- High manufacturing costs and government regulation policies, in terms of production, restrains the market.
- Developing countries such as India, Russia, Brazil and China, because of rising conflicts and tension with neighboring countries are spending heavily on defense activities contributing to the growth of the market.
Scope of The Armor Materials Market Report:
The report on global advanced energy market includes an assessment of the market, size, share, trends, segments, and regional markets.
Armor Materials Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
By Types (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass) By Applications (Vehicle, Aerospace, Body, Civil, Marine)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report
DSM NV, Royal TenCate NV, Alcoa Inc., CoorsTek Inc., Morgan Advanced Materials, CeramTec GmbH, Honeywell International Inc., Saint -Gobain SA, Du Pont, Saab AB, Tata Steel, AGY Holding Corp., PPG Industries Inc., 3M, KONINKLIJKE TEN CATE BV, and ATI.
Armor Materials Market Segment Insights:
Ceramic products segment is projected to hold a significant share of the market
Based on types, the global armor materials market is projected to be segmented into metals & alloys, ceramics, composites, Para-Aramid fibers, UHMWPE, and fiberglass. The ceramics segment is anticipated to expand at a high CAGR during the forecast period due to their high performance and light weight. Ceramic-metal composites, tungsten carbide, and silicon carbide are widely used products.
These products have a broad application and are used to produce armors for military personnel, gunships, land vehicles, and aircraft. These products, while being relatively light in weight, have the ability to offer high hardness and controlled micro-structures that ensure durability and performance. Furthermore, ceramics provide design flexibility and high resistance to stress. These factors are expected to boost the segment growth during the forecast period.
Vehicle segment holds substantial share
In terms of applications, the market is expected to be segregated into vehicle, aerospace, body, civil, and marine. The vehicle segment accounts for a dominant share of the market on account of rising concerns regarding the security of government officials and reporters. Additionally, increasing application of lightweight aluminum alloys in military vehicles such as personal carriers are fuelling the growth of the market.
North America dominates the global armor materials market
On the basis of regions, the global armor materials market is likely to be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America holds a significant share of the market. The US is expected to constitute a key share of the market due to high military investments that are higher than every other country.
Rising demand for applications regarding homeland security, development of advanced armor materials and making of systems for vehicles & aerospace are factors that can be attributed to the growth of the market in the U.S. Additionally, in the U.S., the Berry Amendment Act encourages the use of domestically manufactured products, comprising of armor materials, including fiber and steel; thereby, reinforcing the growth of the market in North America.
- Metals & Alloys
- Para-Aramid Fibers
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- DSM NV
- Royal TenCate NV
- Alcoa Inc.
- CoorsTek Inc.
- Morgan Advanced Materials
- CeramTec GmbH
- Honeywell International Inc.
- Saint -Gobain SA
- Du Pont
- Saab AB
- Tata Steel
- AGY Holding Corp.
- PPG Industries Inc.
- KONINKLIJKE TEN CATE BV
The global armor materials market is highly competitive and fragmented with the presence of multiple manufacturers. Key players in the market include DSM NV, Royal TenCate NV, Alcoa Inc., CoorsTek Inc., Morgan Advanced Materials, CeramTec GmbH, Honeywell International Inc., Saint -Gobain SA, Du Pont, Saab AB, Tata Steel, AGY Holding Corp., PPG Industries Inc., 3M, KONINKLIJKE TEN CATE BV, and ATI.