HOME Top Market Reports Armor Materials Market by Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass), Application (Vehicle, Aerospace, Body, Civil, Marine), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2022

Armor Materials Market by Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass), Application (Vehicle, Aerospace, Body, Civil, Marine), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: July 2017
Report Code: CH 4001

 

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The armor materials market is estimated at USD 8.67 Billion in 2017 and is projected to reach USD 12.11 Billion by 2022, at a CAGR of 6.92% from 2017 to 2022. The base year considered for the study is 2016, and the forecast period is from 2017 to 2022.

The objectives of the report are as follows:

  • To estimate and forecast the armor materials market size, in terms of value and volume
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To define, describe, and forecast the market size by, product type, application, and region
  • To forecast the size of the market with respect to five main regions (along with key country-level data), namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To track and analyze recent developments such as new product launches, expansions, collaborations, partnerships, agreements & joint ventures, and acquisitions in the armor materials market
  • To strategically profile the key market players and comprehensively analyze their core competencies

Both, top-down and bottom-up approaches were utilized to estimate and project the size of the armor materials market. The size of the armor materials market was calculated, and weightages were assigned to various market segments. This was performed on the basis of extensive primary interviews and secondary research based on the information available on websites of various associations, such as the US Cavalry & Armor Association, United States Armor Association, American Armor Association, Association of the United States Army. Primary research included extensive interviews with key personnel such as CEOs, VPs, directors, and executives. After arriving at the overall market size, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary respondents is depicted in the figure below.

Armor Materials Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the armor materials market comprises manufacturers of armor material products, such as include E. I. Du Pont De Nemours and Company (US), DSM NV (Netherlands), Honeywell International Inc. (US), Compagnie de Saint-Gobain SA (France), Allegheny Technologies Incorporated (US), 3M Ceradyne, Inc. (US), Alcoa Inc. (US), Royal TenCate NV (Netherlands), Saab AB (Sweden), CoorsTek Inc. (US), Morgan Advanced Materials (UK), CeramTec GmbH (Germany), Tata Steel Limited (India), AGY Holding Corp. (US), PPG Industries Inc. (US), and end users such as military & defense, aerospace, and law enforcement agencies.

Target Audience:

  • Armor Material Manufacturers
  • Armor System Manufacturers
  • Government Planning Commissions and Research Organizations
  • Industry Associations
  • End-use Industries
  • R&D Institutions
  • Investment Banks and Private Equity Firms
  • Armor Materials Traders, Distributors, and Suppliers
  • End-use Market Participants of Different Segments of Armor Materials           
  • Government and Research Organizations
  • Associations and Industrial Bodies
  • Research and Consulting Firms

 “The study answers several questions for the stakeholders; primarily, which market segments they need to focus upon during the next two to five years to prioritize their efforts and investments.”

Scope of the Report

The research report categorizes the armor materials market into the following segments:

By Product Type:

  • Metals & Alloys
  • Composites
  • Ceramics
  • Para-aramid Fiber
  • UHMWPE
  • Fiberglass
  • Others (Explosive Armor, Graphene, Depleted Uranium, HPPF)

By Application

  • Vehicle Armor
  • Aerospace Armor
  • Body Armor
  • Marine Armor
  • Civil Armor

By Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

  • Further breakdown of the Rest of Asia Pacific, Rest of Europe, Rest of South America, and Rest of Middle East & Africa armor materials markets
  • Further breakdown of subsegments of the armor materials market
  • Detailed analysis and profiles of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions
    2.5 Research Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Significant Opportunities in the Armor Materials Market
    4.2 Armor Materials Market in Asia-Pacific, By Application and Country
    4.3 Armor Materials Market, By Application
    4.4 Armor Materials Market, By Product Type
    4.5 Armor Materials Market: Regional Snapshot

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Security Concerns in Developing Nations
                    5.2.1.2 Increasing Demand for Homeland Security
                    5.2.1.3 Changing Battlefield Scenario
                    5.2.1.4 Development of Lethal Ammunition and Weapons
           5.2.2 Opportunities
                    5.2.2.1 Military Modernization Programs
                    5.2.2.2 Need for Lightweight Armor
           5.2.3 Challenges
                    5.2.3.1 Development of Other Types of Armor
                    5.2.3.2 High Cost for Lightweight Armor Materials
                    5.2.3.3 Government Restrictions
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of Substitutes
           5.3.2 Threat of New Entrants
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Macroeconomic Indicators
           5.4.1 GDP Growth Rate Forecast of Major Economies
           5.4.2 Military & Defense Industry
                    5.4.2.1 Increase in Military Spending of Emerging Countries
                    5.4.2.2 Global Militarization Index
                    5.4.2.3 Political Conflicts

6 Armor Materials Market, By Product Type (Page No. - 46)
    6.1 Introduction
    6.2 Metals & Alloys
           6.2.1 High-Density Steel
           6.2.2 Aluminium
           6.2.3 Titanium
    6.3 Ceramics
           6.3.1 Aluminium Oxide
           6.3.2 Silicon Carbide
           6.3.3 Boron Carbide
    6.4 Composites
           6.4.1 Fibers
           6.4.2 Fabrics
           6.4.3 Matrix Materials
           6.4.4 Prepregs
           6.4.5 Hybrid Composites
           6.4.6 3D Composites
    6.5 Para-Aramid Fiber
    6.6 Uhmwpe
    6.7 Fiberglass
    6.8 Other Armor Materials

7 Armor Materials Market, By Application (Page No. - 59)
    7.1 Introduction
    7.2 Vehicle Armor
    7.3 Aerospace Armor
    7.4 Body Armor
    7.5 Civil Armor
    7.6 Marine Armor

8 Armor Materials Market, By Region (Page No. - 68)
    8.1 Introduction
    8.2 North America
           8.2.1 U.S.
           8.2.2 Canada
           8.2.3 Mexico
    8.3 Europe
           8.3.1 Russia
           8.3.2 France
           8.3.3 U.K.
           8.3.4 Germany
           8.3.5 Italy
           8.3.6 Poland
           8.3.7 Rest of Europe
    8.4 Asia-Pacific
           8.4.1 China
           8.4.2 India
           8.4.3 South Korea
           8.4.4 Japan
           8.4.5 Australia
           8.4.6 Indonesia
           8.4.7 Philippines
           8.4.8 Rest of Asia-Pacific
    8.5 Middle East & Africa
           8.5.1 Israel
           8.5.2 Saudi Arabia
           8.5.3 UAE
           8.5.4 Algeria
           8.5.5 Rest of Middle East & Africa
    8.6 South America
           8.6.1 Brazil
           8.6.2 Argentina
           8.6.3 Rest of South America

9 Competitive Landscape (Page No. - 110)
    9.1 Introduction
           9.1.1 Dynamic Differentiators
           9.1.2 Innovators
           9.1.3 Visionary Leaders
           9.1.4 Emerging Companies
    9.2 Competitive Benchmarking
           9.2.1 Strength of Product Portfolio
           9.2.2 Business Strategy Excellence
Top Companies Analyzed for This Study are — Allegheny Technologies Inc.; E. I. Du Pont De Nemours and Company; Royal Tencate NV; 3M Ceradyne, Inc.; Honeywell International Inc.; DSM NV; Tata Steel Limited; Compagnie De Saint-Gobain Sa; Alcoa Corporation; Saab AB; AGY Holding Corp.; PPG Industries Inc.; Morgan Advanced Materials; Ceramtec GmbH; Coorstek Inc.; Xeracarb Ltd.; AT&F Advanced Metals LLC; Waco Composites; Leeco Steel LLC; Protective Structures, Ltd.; CPS Technologies Corp.; Surmet Corporation; JPS Composite Materials; Schunk Carbon Technology; Cerco Corp.
    9.3 Market Share Analysis
           9.3.1 E. I. Du Pont De Nemours and Company
           9.3.2 DSM NV
           9.3.3 Honeywell International, Inc.
           9.3.4 3M Ceradyne, Inc.
           9.3.5 Saab AB
           9.3.6 Allegheny Technologies Inc.

10 Company Profiles (Page No. - 116)
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     10.1 E. I. Du Pont De Nemours and Company
     10.2 DSM NV
     10.3 Honeywell International Inc.
     10.4 3M Ceradyne, Inc.
     10.5 Saab AB
     10.6 Allegheny Technologies, Inc.
     10.7 Royal Tencate NV
     10.8 Tata Steel Limited
     10.9 Compagnie De Saint-Gobain Sa
     10.10 Alcoa Corporation
     10.11 Other Key Market Players
             10.11.1 Ceramtec
             10.11.2 PPG Industries Inc.
             10.11.3 AGY Holding Corp.
             10.11.4 Coorstek Inc.
             10.11.5 Morgan Advanced Materials
             10.11.6 Xeracarb Ltd.
             10.11.7 Waco Composites
             10.11.8 AT&F Advanced Metals LLC
             10.11.9 Leeco Steel, LLC
             10.11.10 Protective Structures, Ltd.
             10.11.11 CPS Technologies, Corp.
             10.11.12 Surmet Corporation
             10.11.13 JPS Composites Materials
             10.11.14 Schunk Carbon Technology
             10.11.15 Cerco Corporation

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 147)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets Subscription Portal
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (109 Tables)

Table 1 Market Share of Various Countries’ Military Spending, 2015–2017
Table 2 Trends and Forecast of GDP Growth Rate, 2017–2021
Table 3 Armor Materials Market Size, By Product Type, 2015–2022 (USD Million)
Table 4 Armor Materials Market Size, By Product Type, 2015–2022 (Kiloton)
Table 5 Leading Companies Manufacturing Metals & Alloys
Table 6 Metals & Alloys Market Size , By Region, 2015–2022 (USD Million)
Table 7 Metals & Alloys Market Size , By Region, 2015–2022 (Kiloton)
Table 8 Ceramics Market Size , By Region, 2015–2022 (USD Million)
Table 9 Ceramics Market Size , By Region, 2015–2022 (Kiloton)
Table 10 Composites Market Size , By Region, 2015–2022 (USD Million)
Table 11 Composites Market Size , By Region, 2015–2022 (Kiloton)
Table 12 Leading Companies Producing Para-Aramid Fibers
Table 13 Para-Aramid Fiber Market Size, By Region, 2015–2022 (USD Million)
Table 14 Para-Aramid Fiber Market Size , By Region, 2015–2022 (Kiloton)
Table 15 Leading Company Producing Uhmwpe Fibers
Table 16 Uhmwpe Market Size, By Region, 2015–2022 (USD Million)
Table 17 Uhmwpe Market Size , By Region, 2015–2022 (Kiloton)
Table 18 Leading Companies Producing Fiberglass
Table 19 Fiberglass Market Size, By Region, 2015–2022 (USD Million)
Table 20 Fiberglass Market Size , By Region, 2015–2022 (Kiloton)
Table 21 Other Armor Materials Market Size, By Region, 2015–2022 (USD Million)
Table 22 Other Armor Materials Market Size, By Region, 2015–2022 (Kiloton)
Table 23 Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 24 Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 25 Armor Materials Market Size in Vehicle Armor, By Region, 2015–2022 (USD Million)
Table 26 Armor Materials Market Size in Vehicle Armor, By Region, 2015–2022 (Kiloton)
Table 27 Armor Materials Market Size in Aerospace Armor, By Region, 2015–2022 (USD Million)
Table 28 Armor Materials Market Size in Aerospace Armors, By Region, 2015–2022 (Kiloton)
Table 29 Armor Materials Market Size in Body Armor, By Region, 2015–2022 (USD Million)
Table 30 Armor Materials Market Size in Body Armor, By Region, 2015–2022 (Kiloton)
Table 31 Armor Materials Market Size in Civil Armor, By Region, 2015–2022 (USD Million)
Table 32 Armor Materials Market Size in Civil Armor, By Region, 2015–2022 (Kiloton)
Table 33 Armor Materials Market Size in Marine Armor, By Region, 2015–2022 (USD Million)
Table 34 Armor Materials Market Size in Marine Armor, By Region, 2015–2022 (Kiloton)
Table 35 Armor Materials Market Size, By Region, 2015–2022 (USD Million)
Table 36 Armor Materials Market Size, By Region, 2015–2022 (Kiloton)
Table 37 North America: Armor Market Size, By Country, 2015–2022 (USD Million)
Table 38 North America: Armor Market Size, By Country, 2015–2022 (Kiloton)
Table 39 North America: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 40 North America: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 41 U.S. Defense Department Equipment Purchase Plan, 2017
Table 42 U.S.: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 43 U.S.: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 44 Canada: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 45 Canada: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 46 Mexico: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 47 Mexico: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 48 Europe: Armor Market Size, By Country, 2015–2022 (USD Million)
Table 49 Europe: Armor Market Size, By Country, 2015–2022 (Kiloton)
Table 50 Europe: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 51 Europe: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 52 Russia: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 53 Russia: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 54 France: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 55 France: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 56 U.K.: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 57 U.K.: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 58 Germany: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 59 Germany: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 60 Italy: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 61 Italy: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 62 Poland: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 63 Poland: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 64 Rest of Europe: Armor Market Size, By Application, 2015–2022 (USD Million)
Table 65 Rest of Europe: Armor Market Size, By Application, 2015–2022 (Kiloton)
Table 66 Asia-Pacific: Armor Materials Market Size, By Country, 2015–2022 (USD Million)
Table 67 Asia-Pacific: Armor Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 68 Asia-Pacific: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 69 Asia-Pacific: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 70 China: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 71 China: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 72 India: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 73 India: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 74 South Korea: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 75 South Korea: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 76 Japan: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 77 Japan: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 78 Australia: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 79 Australia: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 80 Indonesia: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 81 Indonesia: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 82 Philippines: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 83 Philippines: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 84 Rest of Asia-Pacific: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 85 Rest of Asia-Pacific: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 86 Middle East & Africa: Armor Materials Market Size, By Country, 2015–2022 (USD Million)
Table 87 Middle East & Africa: Armor Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 88 Middle East & Africa: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 89 Middle East & Africa: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 90 Israel: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 91 Israel: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 92 Saudi Arabia: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 93 Saudi Arabia: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 94 UAE: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 95 UAE: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 96 Algeria: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 97 Algeria: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 98 Rest of Middle East & Africa: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 99 Rest of Middle East & Africa: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 100 South America: Armor Materials Market Size, By Country, 2015–2022 (USD Million)
Table 101 South America: Armor Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 102 South America: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 103 South America: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 104 Brazil: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 105 Brazil: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 106 Argentina: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 107 Argentina: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)
Table 108 Rest of South America: Armor Materials Market Size, By Application, 2015–2022 (USD Million)
Table 109 Rest of South America: Armor Materials Market Size, By Application, 2015–2022 (Kiloton)


List of Figures (36 Figures)

Figure 1 Armor Materials Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Armor Materials Market: Data Triangulation
Figure 5 Vehicle Armor Segment to Be Dominant Application Between 2017 and 2022
Figure 6 Metals & Alloys to Be the Dominant Armor Materials Between 2017 and 2022
Figure 7 India to Be Fastest-Growing Armor Materials Market Between 2017 and 2022
Figure 8 North America Dominated the Armor Materials Market in 2016
Figure 9 Armor Materials Market Size, 2017 vs 2022 (Kiloton)
Figure 10 China Led the Asia-Pacific Market in 2016
Figure 11 Body Armor to Register the Highest CAGR Between 2017 and 2022
Figure 12 Metals & Alloys Armor Materials to Account for the Largest Market Share in 2022
Figure 13 India to Be Fastest-Growing Market Between 2017 and 2022
Figure 14 Drivers, Restraints, Opportunities, and Challenges in the Armor Materials Market
Figure 15 Worldwide Conflict Status: A Snapshot
Figure 16 Porter’s Five Forces Analysis
Figure 17 Increasing Military Spending of Countries, 2006 vs 2016
Figure 18 Global Militarization Index, By Country, 2016
Figure 19 Ceramics Segment to Register Highest CAGR During Forecast Period
Figure 20 Body Armor Segment to Register Highest CAGR During Forecast Period
Figure 21 Asia-Pacific to Register the Highest CAGR During Forecast Period
Figure 22 North America Market Snapshot: U.S. to Lead Armor Materials Market During Forecast Period
Figure 23 Europe Market Snapshot: Russia to Lead Armor Materials Market During Forecast Period
Figure 24 Asia-Pacific Market Snapshot: China to Lead Armor Materials Market
Figure 25 Competitive Leadership Mapping, 2016
Figure 26 Market Share Analysis of Key Players, 2016
Figure 27 E. I. Du Pont De Nemours and Company: Company Snapshot
Figure 28 DSM NV: Company Snapshot
Figure 29 Honeywell International Inc.: Company Snapshot
Figure 30 3M Ceradyne, Inc.: Company Snapshot
Figure 31 Saab AB: Company Snapshot
Figure 32 Allegheny Technologies, Inc.: Company Snapshot
Figure 33 Royal Tencate NV: Company Snapshot
Figure 34 Tata Steel Limited: Company Snapshot
Figure 35 Compagnie De Saint-Gobain Sa: Company Snapshot
Figure 36 Alcoa Corporation: Company Snapshot

The armor materials market is projected to grow from an estimated USD 8.67 Billion in 2017 to USD 12.11 Billion by 2022, at a CAGR of 6.92% during the forecast period. The growth of this market is primarily attributed to the changing battlefield scenarios and development of advanced weapons and ammunition which in turn is expected to lead to an increase in the demand for better and more effective armor solutions.

The armor materials market has been segmented on the basis of product type, application, and region. On the basis of product type, metals & alloys lead the armor materials market due to their high structural ballistic protection properties and their low cost. Ceramics are the fastest-growing armor material types on account of their low weight and high rigidity. Ceramics are increasingly being used in vehicle and body armor applications to reduce the weight of units.

On the basis of application, the armor materials market has been classified into vehicle armor, aerospace armor, body armor, civil armor, and marine armor. The body armor segment is projected to grow at the highest CAGR between 2017 and 2022. The demand for body armor is increasing due to the rise in homeland security concerns along with the increased requirement for these protection systems by law enforcement agencies.

Based on region, the armor materials market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is the largest market for armor materials and is expected to continue to lead the market by 2022. The US is a major armor materials consumer in the region as well as globally, owing to rising homeland security concerns due to terrorism. The Asia Pacific is projected to be the fastest-growing market for armor materials driven by increasing defense budgets, military modernization programs, rising tensions between countries in the region, along with terrorism and insurgency incidents.

Armor Materials Market

The armor materials market is sensitive and regulated by a number of governmental restrictions and regulations, which restricts manufacturers when dealing with other companies in different countries. The high cost of production for most of the armor materials and issues related to raw material procurement are other factors that are restraining the growth of the armor materials market.

Agreements and expansions were considered the major development strategies adopted by key players operating in the armor materials market between 2013 and May 2017. Companies such as E. I. Du Pont De Nemours and Company (US), DSM NV (Netherlands), Honeywell International Inc. (US), 3M Ceradyne, Inc. (US), and Royal TenCate NV (Netherlands), adopted these development strategies to enhance their product offerings and customer base as well as gain a competitive edge over their peers in the market. These companies are also focused on investing in research & development activities to introduce new and cost-effective materials to keep up with the changing consumer needs.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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