Market Research Report
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
|Published by||MarketsandMarkets||Product code||349965|
|Published||Content info||156 Pages
|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|
|Published: July 24, 2017||Content info: 156 Pages||
"Rising security concerns in the emerging economies is driving the growth of the armor materials market"
The armor materials market is estimated at USD 8.67billion in 2017 and is projected to reach USD 12.11 billion by 2022, at a CAGR of 6.92% from 2017 to 2022. The growth of this market is majorly attributed to the rising conflicts in emerging countries, such as China, India, and Brazil. Furthermore, the increasing demand for lightweight protection solutions is another significant factor driving the growth of the armor materials market. However, high procurement and raw material costs are expected to negatively affect market growth.
Body armor segment is projected to grow at the highest CAGR in the armor materials market, in terms of value and volume, between 2017 and 2022. This growth is attributed to the increasing security concerns in the emerging economies and to provide protection to law enforcement and military personnel. The rapid development of weapons and ammunition is also a driving factor for the growth of the body armor segment.
On the basis of region, the armor materials market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is projected to account for a major share of the armor materials market by 2022, which can be attributed to the increasing demand for homeland security applications and the development of advanced armor systems for the US Army.
The market in the Asia Pacific is expected to grow at the highest CAGR between 2017 and 2022. There is increasing demand for armor materials in the region on account of military modernization programs by countries such as China and India. The increasing tensions between countries in the region, as well as internal conflicts, are also driving the armor materials market in the region.
Primary interviews were conducted with a number of industry experts to collect information related to the armor materials market. The breakdown of primary interviews is depicted below:
Key companies supplying armor materials are:
This report segments the armor materials market on the basis of product type, application, and region, and provides estimations for the overall value of the market and its subsegments across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key growth strategies, and recent developments (such as expansions, new products & technology launches, acquisitions, partnerships, agreements, and joint ventures) associated with the armor materials market.
This report will help leaders/new entrants in this market in the following ways:
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.
*Details on Business Overview, Products offered & Services strategies, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.