Armor Materials Market Size, Industry Growth & Forecast, 2022-2027

Posted on 3 February, 2023 by George Poter

The latest research study by IMARC Group, Armor Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 offers a comprehensive analysis of the industry, which comprises insights on global armor materials market size. The global armor materials market size reached US$ 12.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.

Armor Materials Industry Outlook:

Armor materials are specialized protective fabrics designed to reduce impact or damage from outside forces by absorbing shocks. They are manufactured from leather, ceramics, metals, para-aramid fiber, alloy, and fiberglass. They offer enhanced protection against handguns and sharp-edged weapons and are lightweight, durable, and comfortable. Since they provide high structural strength, fracture and crack resistance, and chemical inertness, armor materials find extensive applications in bulletproof vests, armor, helmets, and vehicles across the globe.

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Market Trends:

The global armor materials market is primarily driven by rapid growth in the military and defense industries. Moreover, the rising use of armor materials to protect soldiers in battle and reduce the intensity of approaching weapons and bullets is positively influencing market growth.

Additionally, the increasing product utilization to protect military vehicles from shrapnel, bullets, and missiles is another major growth-inducing factor. Besides this, numerous product innovations, including the development of lightweight armor materials that are highly flexible and sustainable and effectively protect users, have catalyzed market growth.

Furthermore, the escalating product demand in the marine industry to protect assets from shellfire, ultraviolet (UV) rays, and underwater torpedoes are propelling the market growth. Other factors, including the widespread adoption of ultra-high-molecular-weight polyethylene, rising security concerns, and favorable government policies, are also anticipated to drive the market further.

Armor Materials Market Report Scope

Report Coverage

Details

Market size value in 2021

US$ 11.2 Billion

Market forecast in 2027

US$ 16.5 Billion

Growth Rate

CAGR of 6.20% from 2023 to 2028

Base year for estimation

2023

Historical data

2017-2022

Forecast period

2023-2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

  • Metals and Alloys
  • Ceramics
  • Composites
  • Para-Aramid Fibers
  • Ultra-High-Molecular-Weight Polyethylene
  • Fiberglass
  • Others

Breakup by Protection Type:

  • Airborne Ballistics
  • Blasts and Explosion

Breakup by Application:

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

Breakup by Geography:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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List of Key Companies Covered in this Market Report:

The major players in the market are Allegheny Technologies Incorporated, Avon Rubber p.l.c., CeramTec TopCo GmbH, CoorsTek Inc., DuPont de Nemours Inc., Honeywell International Inc, Koninklijke DSM N.V., Koninklijke Ten Cate B.V., Morgan Advanced Materials, PPG Industries Inc., Saab AB and Saint-Gobain S.A.

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About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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