Dallas, Feb. 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global armor materials market is expected to grow from USD 8.74billion to USD 20.20 billion by 2028 at a CAGR of 10.50% over the forecast period 2021-2028.
Investment in armor production, government investment in defense and security, and growing threats are driving the adoption of advanced materials in armor production. Also, military modernization programs, security concerns, and political unrest around the world have created a need for armor, thus boosting the armor materials market. Moreover, the development of advanced armor materials using composites and nanofibers is expected to drive the armor material market during the forecast period.
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Armor is a protective clothing capable of deflecting or absorbing the impact of projectiles or other weapons that can be used against their wearer.Personal armor is used to protect war animals and soldiers. Vehicle armor is used on armored combat vehicles and warships.Armor has been used in all recorded history, from skins, bones, leather, progressing to bronze, steel, ballistic fabrics, ceramics, and depleted uranium.Modern technology has resulted in the development of lightweight, protective materials designed into a variety of apparel suitable for the dangers of modern warfare.
Internal conflicts in many countries have increased the need for ammunition to ensure national security. This has increased the demand for protective equipment, thus boosting the demand for armor materials. Increasing security concerns and rising demand for homeland security in developing countries are the key drivers of the armor materials market.The number of explosive attacks on soldiers is also growing, and protection against these threats is important. This can only be achieved by wearing hard armor, thus boosting the armor materials market growth.
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Key players in the global armor materials marketareAllegheny Technologies Incorporated, 3M Ceradyne Inc., AGY Holding Corp., CeramTec GmbH, CoorsTek Inc., DSM NV, E. I. Du Pont De Nemours and Company, Honeywell International Inc., Morgan Advanced Materials, PPG Industries Inc., Royal TenCate NV, Compagnie de Saint-Gobain SA, Saab AB, Saint-Gobain SA, Tata Steel Limited among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global armor materials industry.
• In March 2018, Honeywell partnered with Safariland, LLC, a designer of body armor and tactical protective clothing, to develop a new design for Spectra Shield ballistic protective material. This can reduce the weight of the handheld shields by up to 20%.
• In June 2018, Dupont launched Tensylon HA120. It is a new material for helmets that offers maximum ballistic protection at 40% lighter weight than traditional helmets.
• In December 2017, Teijin Ltd. announced a production capacity increase for its para-aramid fiber “Twaron,” by more than 25% by 2022. This new capacity will help the company meet the increasing demand for para-aramid fibers.
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The metal & alloyssegment held the largest market share of around 31% and a market value of about USD 2.71 billion in 2020
The type segment is divided into metals & alloys, ceramics, composites, para-aramid fiber, ultra-high-molecular-weight polyethylene, fiberglass, and others. Due to their high impact resistance and low cost, the metal & alloys segment emerged as the leader in the global armor materials market with a market share of 31% and a revenue of USD 2.71 billion in 2020. This was because metals such as high-density steel, titanium, and aluminum, along with their alloys, are used as armor materials for the aerospace, vehicle, and marine armor systems. Thick, high-strength, aluminum-based alloys are a competitive choice for lightly armored vehicles.
The marine armor segment is anticipated to rise over the forecast period
The application segment includes vehicle armor, aerospace armor, body armor, civil armor, and marine armor. Due to their benefits, including protection against energy and ballistic attacks, the marine armor segment is anticipated to rise over the forecast period.
Regional Segment Analysis of the Armor Materials Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
In terms of value, North America was the largest market for armor materials with a market value of USD 2.74 billion, followed by Europe and Asia Pacific in 2020. North America is estimated to continue investing in soldier security through ongoing modernization programs.The U.S. military is working on several equipment upgrade programs, and the demand for armor materials in the region will continue to increase. Due to the rising adoption of new armor for defense and law enforcement officials, the market in the Asia Pacific is expected to grow at the highest CAGR over the forecast period. Also, the rising terrorism in the region is another factor driving the growth of target markets. Also, there is an increasing demand for armor materials in the region on account of military modernization programs by countries such as India and China. The rising tensions between countries in the region, as well as internal conflicts, are also driving the armor materials market in the region.
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About the report:
The global armor materialsmarket is analysed on the basis of value (USD billion).All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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