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Armor Materials Market

: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

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Report ID: 472 | Published On: Feb 13, 2023
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Market Segmentation

Our in-depth analysis has segmented global armor materials market into the following segments:

By Product

  • Metal & Alloys
  • Ceramic & Composites
  • Para-Aramid Fibers
  • Fiberglass
  • Ultra-high Molecular Polyethylene

Armor materials market

By Application

  • Vehicle Armor
  • Aerospace Armor
  • Military Armor
  • Civil Armor
  • Others

By Region

Global armor materials market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis


Armor materials
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Market Size and Forecast
cscs

Global armor materials market is anticipated to register a CAGR of 7.1% over the forecast period 2017-2024. Additionally, the market of armor materials was held at a valuation of USD 8.9 Billion in 2016 and is expected to reach 13.2 Billion by the end of 2024. This significant growth of the armor materials market can be attributed to rising security concerns. Further, development and manufacturing of advance armor and weapons is expected to strengthen the growth of armor materials market.

Armor materials

In the regional platform, North America is the largest market in the term of market share of overall armor materials market. Further, North America is expected to continue its dominance over the forecast period. The market of armor materials is majorly driven by the rising demand for homeland security. U.S.is expected to contribute significant revenue to global armor materials market during the forecast period. Rising demand for advanced armor system for military applications is likely to drive the growth of armor materials market in the country.CLICK TO DOWNLOAD FREE SAMPLE

Asia Pacific armor materials market is expected to grow at a significant pace over the forecast period. Further, the market of armor materials in Asia Pacific is projected to grow at highest CAGR during the forecast period. The demand for armor materials in Asia Pacific is expected to get escalated by the ongoing military modernization programs. Increase in defense budgets is envisioned to positively impact the growth of armor materials market. Moreover, rising terrorism activities in Asia Pacific countries is expected to fuel the demand for armor materials during the forecast period.Based on product, global armor materials market is further segmented into metal & alloys, ceramic & composites, para-aramid fibers, fiberglass and ultra-high molecular polyethylene. The metals & alloys segment is expected to hold largest market share during the forecast period due to their low cost. However, ceramic & composites segment is forecasted to grow at highest CAGR during the forecast period.      


Growth Drivers & Challenges

Rising security concerns in various nations is driving the growth of the global armor materials market. Further, increasing terrorism activities across the globe is anticipated to increase the demand for armor materials during the forecast period. Moreover, increasing defense budgets and modernization of military is anticipated to augment the growth of the armor materials market. Further, research & development of advanced armor materials such as light weight syntactic armor material (L SAM) is envisioned to bolster the growth of armor materials market. In contrast, high cost of production is expected to limit the growth of global armor materials market during the forecast period. Further, fluctuations in the raw material price are likely to hamper the growth of the armor material markets globally. Apart from this, stringent government regulations limiting the clients of manufacturers are expected to negatively impact the expansion of the armor materials market.


Top Featured Companies Dominating The Market
  • 3M Ceradyne, Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • ATI Metals
  • Tata Steel
  • AGY Holding Corp.
  • DuPont
  • Honeywell Spectra
  • DSM Dyneema
  • CoorsTek
  • Saint-Gobain Ceramic Materials
  • PPG Industries


Armor materials market
Get more information on this report: Request Sample PDF

Top Featured Companies Dominating The Market

    • 3M Ceradyne, Inc.
      • Company Overview
      • Key Product Offerings
      • Business Strategy
      • SWOT Analysis
      • Financials
    • ATI Metals
    • Tata Steel
    • AGY Holding Corp.
    • DuPont
    • Honeywell Spectra
    • DSM Dyneema
    • CoorsTek
    • Saint-Gobain Ceramic Materials
    • PPG Industries

    Scope and Context


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Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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