Ballistic Composites Market by Fiber Type (Aramid, UHMWPE, S-Glass), Matrix Type (Polymer, Polymer-Ceramic, Metal), Application (Vehicle Armor, Body Armor, Helmet & Face Protection), and Region - Global Forecast to 2021
[133 Pages Report] The ballistic composites market was valued at USD 1.20 billion in 2015 is projected to reach USD 1.80 billion by 2021 at a CAGR of 7.12% from 2016 to 2021. In this study, 2015 has been considered as the base year, while the forecast period is from 2016 to 2021.
Market Dynamics
Drivers
- Rising demand in personal protection
- Increasing threat from growing internal and external conflicts
- Need for lightweight, comfortable, and high strength materials
Opportunities
- Increasing R&D and mass production of ballistic fibers
- Evolution and adoption of new technologies and products
Challenges
- Developing durable ballistic composite according to different threats
Growing demand for protection materials due to increasing threat from external and internal disturbances is supporting the growth of ballistic composites across the world
The vehicle armor is the largest application for ballistic composites market. Ballistic composites are significantly utilized for the manufacturing of vehicle armors as these composites provide high level of protection against ballistic threats. Moreover, the use of ballistic composites in the manufacturing of vehicle armor provides them with lightweight and corrosion resistance properties, which helps in easy maneuverability and ease of maintenance of vehicle armors.
Objectives of the Study
- To define, describe, and forecast the ballistic composites market, in terms of value, and volume
- To identify and measure the ballistic composites market by matrix type, by fiber type, application, and region
- To analyze the significant region-specific market trends in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (ME&A) and country-specific trends in major countries such as the U.S., Germany, France, the U.K., China, and Japan, among others
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, industry-specific challenges, and burning issues)
- To analyze recent market developments such as investments & expansions, new product launches, agreements/partnerships/ joint ventures, and acquisitions in the ballistic composites market
- To strategically profile and analyze the key market players and their core competencies
Note1: Micromarkets are the subsegments of the market included in the report
Note2: Core competencies of companies are determined in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain in the market
In this report, market sizes have been derived from various research methodologies. In the secondary research process, different sources have been referred to, to identify and collect information for this study on the market. These secondary sources include Factiva, Hoovers, Manta, annual reports, press releases, investor presentations of companies and associations and white papers, certified publications, and articles from recognized authors. In the primary research process, sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information for this report. The bottom-up approach has been used to estimate the market size, in terms of value. The top-down approach has also been implemented to validate the market size, in terms of value. With the data triangulation procedure and validation of data through primaries, exact values of the sizes of the overall parent market and individual markets have been determined and confirmed in this study.
The figure below illustrates the breakdown of profiles of primary interview participants.
The figure below illustrates the breakdown of profiles of primary interview participants.
To know about the assumptions considered for the study, download the pdf brochure
The ballistic composites market includes raw material suppliers, manufacturers, and end users of ballistic composites Honeywell Spectra(U.S.), DSM Dyneema (Netherlands), BAE Systems (U.K.), Royal Tencate (Netherlands), Morgan Advanced Materials (U.K.), DuPont Protection Technologies (U.S.), Solvay (Belgium), Gurit (Switzerland), 3M (U.S.), CoorsTek (U.S.), Teijin Limited (Japan), and others are the leading players operating in the market.
Major Market Developments
- In September 2015, BAE Systems (U.K.), signed a supply agreement with the U.S. army and provided the army with its lightweight and high performance ballistic products for safeguarding soldiers.
- In September 2016, Morgan Advanced Materials (U.K.), signed a reseller agreement with Level Peaks Associates (U.K.). As a part of the agreement, the products made by Morgan Advanced Materials (U.K.) will be sold by Level Peaks Associates (U.K.) to the military and Defence market.
- In June 2016, Morgan Advanced Materials (U.K.), manufactured new ballistic shields for military and law enforcement applications. The product is light in weight and offers protection to unprotected parts of soldiers.
Key Target audience
- Ballistic composites manufacturers
- Raw material suppliers
- Distributors & suppliers
- Industry associations
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The report forecasts revenue growth and provides an analysis of trends in each of the subsegments of the ballistic composites market. This research report categorizes the market based on the following:
On the basis of fiber type,
- Aramid
- UHMPE
- Glass
- Others
On the basis of matrix type,
- Polymer
- Polymer-ceramic
- Metal
On the basis of application,
- Vehicle armor
- Body armor
- Helmets & face protection
- Others
On the basis of region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Each region has been further segmented into key countries in that region.
Critical questions which the report answers
- What are the upcoming trends for ballistic composites in developing nations?
- Which are the key players in the market and how intense is the competition?
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the specific needs of the companies. The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
- Further breakdown of the North American ballistic composites market
- Further breakdown of the European ballistic composites market
- Further breakdown of the Asia-Pacific region ballistic composites market
- Further breakdown of the Latin American market
- Further breakdown of the Middle East & African market
Company Information
- Detailed analysis and profiles of additional market players
The global ballistic composites market is estimated at USD 1.28 billion in 2016 and is projected to reach USD 1.80 billion by 2021, at a CAGR of 7.12%, from 2016 to 2021. The increasing demand for ballistic composites in personal protection due to its light weight and high strength properties is a major reason for the growth of the global market.
The vehicle armor segment is projected to be the largest application segment of the ballistic composites market during the forecast period, in terms of both value and volume. There is a high demand for ballistic composites in vehicle armor as these composites used in the manufacture of vehicle armor, offers the vehicles with high level of protection against ballistic threats from bullets, missiles, and other ammunition. Also, the light weight property of the composites helps in reduction of the weight of military vehicles providing ease and convenience in mobility.
Developing durable ballistic composite according to different threats is the biggest challenge in the market. The manufacturers have to develop composite panels and armors that can provide high level of toughness, fracture resistance, and ballistic protection without delamination. Different threats encounter with composite materials in a different way and it is extremely difficult to develop ballistic composites accordingly.
North America is estimated to lead the ballistic composites market during 2016 to 2021 due to the rising demand for ballistic composites from the military and law-enforcement sectors and, heavy spending on research and military programs. The region the most promising market for ballistic composites due to the presence of a large number of ballistic composites manufacturers. These factors are expected to continue to drive the market in North America between 2016 and 2021. However, the Asia-Pacific is expected to be the fastest-growing region between 2016 and 2021 owing to high military expenditure and growing demand for advanced ballistic materials for body and vehicle armor.
Ballistic composites is used in applications such as vehicle armor, body armor, helmet & face protection and others.
Vehicle armors
Vehicle armors are military and Defence vehicles that are utilized in war and law and enforcement situations. It provides protection against various ballistic threats such as bullets, missiles, and other explosive materials such as shells, bomb, and grenade, among others. Vehicle armors withstand ballistic impacts and provide protection to the lives of military personnel inside these vehicles. Vehicle armors are equipped with ballistic composites to ensure high level of protection against ballistic impacts. The use of ballistic composites also offers resistant against UV rays, increased protection of vehicles from extreme and unfavorable weather conditions, convenience in mobility of vehicles, and resistance against corrosion.
Body armors
Body armors are personnel protective clothing equipment used by military and Defence personnel to safeguard themselves from ballistic impacts from bullets and missiles, among others. Body armor absorbs ballistic attacks by reducing their kinetic energy, thereby, minimizing the impact on military personnel wearing these body armor on their bodies. Body armors are used to protect various body parts such as head and chest, among others. Ballistic composites are used in body vests, shields, and protective under garments.
Helmets & Face Protection
Helmets are personnel safeguarding equipment worn by military personnel, especially, to prevent the head. The use of ballistic composites, which are lightweight, in helmets enables military personnel to wear them conveniently for longer duration. It also provides high level of protection by offering high resistance against ballistic impacts.
Face protection is offered by fixing the visors and shields to the helmet; ensuring maximum protection against the impact of bullet and other ballistic threats caused by explosions and others. These face protection equipment are lightweight and has strong impact resistance properties, thus, supporting the human mandible from any harm and displacements.
Critical questions the report answers:
- What are the upcoming hot bets for ballistic composites market?
- How market dynamics is changing for different forms in different applications?
The leading companies operating in the market are composites Honeywell Spectra(U.S.), DSM Dyneema (Netherlands), BAE Systems (U.K.), Royal Tencate (Netherlands), Morgan Advanced Materials (U.K.), DuPont Protection Technologies (U.S.), Solvay (Belgium), Gurit (Switzerland), 3M (U.S.), CoorsTek (U.S.), Teijin Limited (Japan), and others. They have been adopting various organic and inorganic growth strategies as agreements/partnerships/joint ventures, new product launches, investments & expansions, and acquisitions to enhance their shares in the global market. Also, these key players have broad product offerings for the ballistic composites market.
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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 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 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
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 29)
4.1 Attractive Growth Opportunities in Ballistic Composites Market
4.2 Ballistic Composites Market, By Application
4.3 Market, By Fiber Type and Region
4.4 Market, By Matrix Type
4.5 Market, By Country
5 Market Overview (Page No. - 32)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand in Personal Protection
5.2.1.2 Increasing Threat From Growing Internal and External Conflicts
5.2.1.3 Need for Lightweight, Comfortable, and High Strength Materials
5.2.2 Restraints
5.2.2.1 Failure to Provide Complete Protection
5.2.2.2 High Costs and Extremely Stringent Standards of Ballistic Composite Products
5.2.2.3 Complexity of Ballistic Composite Designing
5.2.3 Opportunities
5.2.3.1 Increasing R&D and Mass Production of Ballistic Fibers
5.2.3.2 Evolution and Adoption of New Technologies and Products
5.2.4 Challenges
5.2.4.1 Developing Durable Ballistic Composites According to Different Threats
5.3 Porters Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of Substitutes
5.3.4 Threat of New Entrants
5.3.5 Intensity of Competitive Rivalry
6 Macroeconomic Overview and Key Trends (Page No. - 39)
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Per Capita GDP & Per Capita Composites Demand
6.4 Trends in Global Military Spending
7 Ballistic Composites Market, By Fiber Type (Page No. - 44)
7.1 Introduction
7.2 Aramid Fibers
7.3 UHMPE
7.4 Glass
7.5 Others
7.5.1 M5
7.5.2 Hybrid
8 Ballistic Composites Market, By Matrix Type (Page No. - 52)
8.1 Introduction
8.2 Polymer Matrix Composites
8.3 Polymer-Ceramic
8.4 Metal Matrix
9 Ballistic Composites Market, By Application (Page No. - 58)
9.1 Introduction
9.2 Vehicle Armor
9.2.1 Marine Vehicle Armor
9.2.2 Land Vehicle Armor
9.2.3 Air Vehicle Armor
9.3 Body Armor
9.3.1 Body Vests
9.3.2 Shields
9.3.3 Protective Under Garments
9.4 Helmets & Face Protection
9.5 Others
10 Regional Analysis (Page No. - 65)
10.1 Introduction
10.2 North America
10.2.1 By Matrix Type
10.2.2 By Application
10.2.3 By Country
10.2.3.1 Canada
10.2.3.2 U.S.
10.3 Europe
10.3.1 By Matrix Type
10.3.2 By Application
10.3.3 By Country
10.3.3.1 France
10.3.3.2 Germany
10.3.3.3 U.K.
10.3.3.4 Russia
10.3.3.5 Rest of Europe
10.4 Asia-Pacific
10.4.1 By Matrix Type
10.4.2 By Application
10.4.3 By Country
10.4.3.1 China
10.4.3.2 Japan
10.4.3.3 India
10.4.3.4 Australia
10.4.3.5 Rest of Asia-Pacific
10.5 Latin America
10.5.1 By Matrix Type
10.5.2 By Application
10.5.3 By Country
10.5.3.1 Brazil
10.5.3.2 Mexico
10.5.3.3 Rest of Latin America
10.6 Middle East & Africa
10.6.1 By Matrix Type
10.6.2 By Application
10.6.3 By Country
10.6.3.1 Israel
10.6.3.2 Saudi Arabia
10.6.3.3 South Africa
10.6.3.4 Rest of Middle East & Africa
11 Competitive Landscape (Page No. - 86)
11.1 Introduction
11.1.1 Dynamic
11.1.2 Innovators
11.1.3 Vanguards
11.1.4 Emerging
11.2 Dive Chart Overview
11.3 Product Offerings
11.4 Business Strategy
12 Company Profiles (Page No. - 90)
(Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View)*
12.1 Honeywell International Inc.
12.2 BAE Systems
12.3 Royal Ten Cate NV
12.4 DSM
12.5 Gurit
12.6 Dupont
12.7 Teijin
12.8 Morgan Advanced Materials
12.9 Southern States LLC
12.10 Barrday Corporation
12.11 PRF Composites
12.12 Gaffco Ballistics
12.13 M Cubed Technologies, Inc.
12.14 FY Composites OY
12.15 MKU Limited
12.16 Other Key Players
*Details on Business Overview, Product Offerings & Business Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 126)
13.1 Insights From Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details
List of Tables (62 Tables)
Table 1 Trends and Forecast of GDP, 20152021 (USD Billion)
Table 2 Per Capita GDP & Per Capita Composite Materials Demand, 2015
Table 3 Ballistic Composites Market Size, By Fiber Type, 20142021 (USD Million)
Table 4 Ballistic Composites Market Size, By Fiber Type, 20142021 (Kiloton)
Table 5 Aramid Fiber Market Size, By Region, 20142021 (USD Million)
Table 6 Aramid Fiber Market Size, By Region, 20142021 (Kiloton)
Table 7 UHMPE Fiber Market Size, By Region, 20142021 (USD Million)
Table 8 UHMPE Fiber Ballistic Composites Market Size, By Region, 20142021 (Kiloton)
Table 9 Glass Fiber By Market Size, By Region, 20142021 (USD Million)
Table 10 Glass Fiber By Market Size, By Region, 20142021 (Kiloton)
Table 11 Other Fiber By Market Size, By Region, 20142021 (USD Million)
Table 12 Other Fiber By Market Size, By Region, 20142021 (Kiloton)
Table 13 Ballistic Composites Market Size, By Matrix Type, 20142021 (USD Million)
Table 14 Market Size, By Matrix Type, 20142021 (Kiloton)
Table 15 Polymer Matrix Market Size, By Region, 20142021 (USD Million)
Table 16 Polymer Matrix Market Size, By Region, 20142021 (Kiloton)
Table 17 Polymer-Ceramic Matrix Ballistic Composites Market Size, By Region, 20142021 (USD Million)
Table 18 Polymer-Ceramic Matrix Ballistic Composites Market Size, By Region, 20142021 (Kiloton)
Table 19 Metal Matrix By Market Size, By Region, 20142021 (USD Million)
Table 20 Metal Matrix By Market Size, By Region, 20142021 (Kiloton)
Table 21 Ballistic Composites Market Size, By Application, 20142021 (USD Million)
Table 22 Market Size, By Application, 20142021 (Kiloton)
Table 23 Vehicle Armor By Market Size, By Region, 20142021 (USD Million)
Table 24 Vehicle Armor By Market Size, By Region, 20142021 (Kiloton)
Table 25 Body Armor By Market Size, By Region, 20142021 (USD Million)
Table 26 Body Armor By Market Size, By Region, 20142021 (Kiloton)
Table 27 Helmets & Face Protection Ballistic Composites Market Size, By Region, 20142021 (USD Million)
Table 28 Helmets & Face Protection Ballistic Composites Market Size, By Region, 20142021 (Kiloton)
Table 29 Other Ballistic Composites Market Size, By Region, 20142021 (USD Million)
Table 30 Other Ballistic Composites Market Size, By Region, 20142021 (Kiloton)
Table 31 Market Size, By Region, 20142021 (USD Million)
Table 32 Ballistic Composites Market Size, By Region, 20142021 (Kiloton)
Table 33 North America: By Market Size, By Matrix Type, 20142021 (USD Million)
Table 34 North America: By Market Size, By Matrix Type, 20142021 (Kiloton)
Table 35 North America: By Market Size, By Application, 20142021 (USD Million)
Table 36 North America: By sites Market Size, By Application, 20142021 (Kiloton)
Table 37 North America: By Market Size, By Country, 20142021 (USD Million)
Table 38 North America: By Market Size, By Country, 20142021 (Kiloton)
Table 39 Europe: By Market Size, By Matrix Type, 20142021 (USD Million)
Table 40 Europe: By Market Size, By Matrix Type, 20142021 (Kiloton)
Table 41 Europe: By Market Size, By Application, 20142021 (USD Million)
Table 42 Europe: By Market Size, By Application, 20142021 (Kiloton)
Table 43 Europe: By Market Size, By Country, 20142021 (USD Million)
Table 44 Europe: By Market Size, By Country, 20142021 (Kiloton)
Table 45 Asia-Pacific: By Market Size, By Matrix Type, 20142021 (USD Million)
Table 46 Asia-Pacific: By Market Size, By Matrix Type, 20142021 (Kiloton)
Table 47 Asia-Pacific: By Market Size, By Application, 20142021 (USD Million)
Table 48 Asia-Pacific: By Market Size, By Application 20142021 (USD Million)
Table 49 Asia-Pacific: By Market Size, By Country, 20142021 (USD Million)
Table 50 Asia-Pacific: By Market Size, By Country, 20142021 (Kiloton)
Table 51 Latin America By Market Size, By Matrix Type, 20142021 (USD Million)
Table 52 Latin America By Market Size, By Matrix Type, 20142021 (Kiloton)
Table 53 Latin America By Market Size, By Application, 20142021 (USD Million)
Table 54 Latin America By Market Size, By Application, 20142021 (Kiloton)
Table 55 Latin America By Market Size, By Country, 20142021 (USD Million)
Table 56 Latin America By Market Size, By Country, 20142021 (Kiloton)
Table 57 Middle East & Africa By Market Size, By Matrix Type, 20142021 (USD Million)
Table 58 Middle East & Africa By Market Size, By Matrix Type, 20142021 (Kiloton)
Table 59 Middle East & Africa: By Market Size, By Application, 20142021 (USD Million)
Table 60 Middle East & Africa: By Market Size, By Application, 20142021 (Kiloton)
Table 61 Middle East & Africa By Market Size, By Country, 20142021 (USD Million)
Table 62 Middle East & Africa By Market Size, By Country, 20142021 (Kiloton)
List of Figures (38 Figures)
Figure 1 Ballistic Composite Market Segmentation
Figure 2 Ballistic Composites Market: Research Methodology
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market: Data Triangulation
Figure 6 Polymer Matrix to Drive Overall Ballistic Composites Market Between 2016 and 2021
Figure 7 Vehicle Armor Application to Lead Ballistic Composites Market
Figure 8 Aramid Fiber to Lead Ballistic Composites Market During Forecast Period
Figure 9 North America Estimated to Be Largest Ballistic Composites Market
Figure 10 High Demand From Military Application Driving Ballistic Composites Market, 20162021
Figure 11 Vehicle Armor to Be the Fastest-Growing Application of Ballistic Composites Market, 20162021
Figure 12 Aramid Fiber Drives the Ballistic Composites Market
Figure 13 Polymer Matrix to Lead Ballistic Composites Market During Forecast Period
Figure 14 China to Be the Fastest-Growing Market During Forecast Period
Figure 15 Factors Governing the Ballistic Composites Market
Figure 16 Porters Five Forces Analysis: Ballistic Composites Market
Figure 17 Trends and Forecast of GDP, 20162021 (USD Billion)
Figure 18 Per Capita GDP & Per Capita Composites Demand
Figure 19 Country-Wise Military Spending, 2015 vs 2016
Figure 20 Aramid Fiber Leads Overall Ballistic Composites Market
Figure 21 North America to Lead Aramid Fiber Ballistic Composites Market
Figure 22 Europe to Lead UHMPE Ballistic Composites Market
Figure 23 Polymer Matrix to Lead Overall Ballistic Composites Market
Figure 24 Asia-Pacific Leads Polymer Matrix Ballistic Composites Market
Figure 25 Vehicle Armor Application Leads Ballistic Composites Market
Figure 26 China to Witness Highest CAGR in Ballistic Composites Market
Figure 27 Ballistic Composites Market Snapshot: U.S. is the Most Lucrative Market in North America
Figure 28 Market Snapshot: France is the Most Lucrative Market in Europe
Figure 29 Ballistic Composites Market Snapshot: China is the Most Lucrative Market in Asia-Pacific
Figure 30 Dive Chart
Figure 31 Honeywell International Inc.: Company Snapshot
Figure 32 BAE Systems : Company Snapshot
Figure 33 Royal Ten Cate NV : Company Snapshot
Figure 34 DSM : Company Snapshot
Figure 35 Gurit : Company Snapshot
Figure 36 Dupont : Company Snapshot
Figure 37 Teijin : Company Snapshot
Figure 38 Morgan Advanced Materials : Company Snapshot
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