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2020
Armor Materials Market

Armor Materials Market

by Material Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, Ultra-high-molecular-weight Polyethylene (UHMWPE), Fiberglass, and Others) and Application (Vehicle, Aerospace, Body, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A06826
Pages: 245
Aug 2020 | 4640 Views
Author(s) : Pratik M , Eswara P
Tables: 108
Charts: 42
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Armor Materials Market Outlook -2027

The global armor materials market size was valued at $10.6 billion in 2019, and is projected to reach $15.7 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.

Covid-19 pandemic led to more spending on healthcare and safeguarding the economy, which may reduce the defense budget even for developed nations; thus, negatively impacting the market growth for armor materials.

Armor materials are used as protective clothing against any impact of projectiles or other weapons. Advanced ceramics are widely used to produce lightweight body armors that are effective against bullets. The armor made of advanced fiber absorbs the impact of bullets by dispersing the energy across large area of the armor. The armor materials are widely used in various applications including vehicle, aerospace, and body armors.

Armor-Materials-Market-2020-2027

Growing application of lightweight aluminum alloys in military vehicles such as personnel carriers, will propel the market growth. Due to improved performance, lightweight aluminum alloys are used for transporting equipment including air transport for military vehicles. Additionally, good corrosion resistance and low cost make aluminum alloys a suitable substitute for expensive titanium alloys. Additionally, growing concern from government over safety issues lead to new investment in body armor for police and military personnel; thus enhancing the market size for armor materials. For instance, in January 2019, New Zealand police department invested around $20.7 million in new body armor which was manufactured by Cooneen Protection. Such new initiatives will positively impact the armor materials market growth. However, metals and alloys used in body armor, make the armor heavier compared to other materials such as ceramic or polyethylene fiber. This can lead to lower demand for metals and alloy type armor materials. Nonetheless, advanced armor plates, such as ATI K12-MIL made of alloys steel, provide high toughness as compared to other ceramic systems; thus, creating new opportunities in the market.

The armor materials market is segmented on the basis of material type, application, and region. On the basis of material type, it is divided into metals and alloys, ceramics, composites, para-aramid fibers, ultra-high-molecular-weight polyethylene (UHMWPE), fiberglass, and others. Based on application, it is categorized into vehicle, aerospace, body, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, with country level analysis of each region.

Major players have adopted product launch, collaboration, and acquisition to sustain the intense market competition. The key players profiled in the report include DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, KONINKLIJKE TEN CATE BV., SAAB AB, and ATI.

Armor Materials Market
By Region

2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific exhibits CAGR of 6.8% during 2020-2027

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Global Armor Materials Market, By Region

North America accounted for a significant armor materials market share. This can be attributed to the increasing demand for homeland security applications and development of advanced armor materials and systems for vehicles and aerospace. Additionally, berry amendment act in the U.S. promotes the utilization of domestically produced, manufactured products including armor materials (steel, fiber); thus strengthening the local market growth. The Asia-Pacific Armor Materials market is expected to witness steady growth owing to increasing warfare activities. Moreover, modernization of military programs across countries such as China, Japan, and South Korea, is expected to drive the market demand for vehicle and aerospace armor materials.

Armor Materials Market
By Material Type

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Composites is projected as the most lucrative segment

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Global Armor Materials Market, By Material Type

The metals and alloys segment accounted for a significant revenue share in 2019, owing to growing application of titanium and its alloys in military armor and vehicles, which is expected to drive the market growth. Titanium exhibits low density and high corrosion resistance, thus reducing the total body weight of the vehicle and body armor. For instance, according to a report by Total Materia, after replacing 1/2-inch armor plate with 5/8-inch titanium armor, researchers witnessed 25% weight reduction of that armor with equal resistance to ballistic attack.

Armor Materials Market
By Application

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Body Armor Material is projected as the most lucrative segment

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Global Armor Materials Market, By Application

The vehicle segment accounted for the significant revenue share in 2019, owing to growing application of lightweight aluminum alloys in military vehicles such as personnel carriers, will propel the market growth. Due to improved performance, lightweight aluminum alloys are used for transporting equipment including air transport for military vehicles.

COVID-19 Scenario Analysis:

  • The global armor materials market has been severely impacted by the outbreak of COVID-19 across the globe.
  • This is attributed to stringent regulations imposed to maintain social distancing and extended lockdown. Manufacturers are unable to operate at full strength, which has led to decrease in production capacity.
  • In many nations, the defense equipment, including armors, weapons, and vehicles are imported from other countries. However, in the midst of the pandemic, due to the restrictions on cross border imports, the supply chain is completely disrupted. 
  • Moreover, the upstream and downstream channel of the manufacturers have been affected due to restrictions on movement, and implementation of nationwide lockdown.

Key Benefits For Stakeholders

  • The global armor materials market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides an in-depth analysis of the global armor materials market forecast for the period 2020–2027.
  • The report outlines the current armor materials market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets. 
  • The key drivers, restraints, and armor materials market opportunity and their detailed impact analysis is elucidated in the study.

Armor Materials Market Report Highlights

Aspects Details
By Material Type
  • Metals & Alloys
  • Ceramics
  • Composites
  • Para-Aramid Fibers
  • Ultra-high-molecular-weight Polyethylene (UHMWPE)
  • Fiberglass
  • Others
By Application
  • Vehicle
  • Aerospace
  • Body
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, Turkey, Rest of LAMEA)
Key Market Players DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, KONINKLIJKE TEN CATE BV., ATI, SAAB AB, CERAMTEC, CoorsTek, Inc.
 

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According to the opinions of various CXOs of leading companies, the armor materials market is heading toward an expansion phase. This is mainly attributed to a significant surge in demand for armor material in security of civilians, military and specific areas. The market demand is driven by wide range of armor materials such as metal and alloys, para aramid, and ceramics. In addition, growing preference of lightweight armor materials such as Kevlar aramid fibers and ceramics materials over conventional steel metal alloys, will further enhance the market growth. In addition, increasing warfare activities and modernization of military programs across countries such as China, Japan, and South Korea, is expected to drive the market demand.

 

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FREQUENTLY ASKED QUESTIONS?

A. Growing application of lightweight materials, growing concern from government over safety issues, rising number of warfare activities are the key factors boosting the armor materials market growth.

A. Armor materials market worth $15.7 billion in 2027.

A. Honeywell International Inc., DuPont, 3M, ATI, Saab AB, Saint Gobain, DSM and Ceramtec are the top companies in the armor materials industry.

A. Advancements in armor materials plates, such as ATI K12-MIL made of alloys steel, provide high toughness as compared to other ceramic systems; thus, creating lucrative opportunities in the market.

A. Composites is projected to increase the demand for armor materials Market.

A. Growing application of lightweight materials, growing concern from government over safety issues, replacement for heavy metals and alloys used in body armor, rising number of warfare activities, and new advancements in armor materials are the factors influencing the growth of armor materials Market.

A. Body armor end user segment would steer the armor materials market ahead.

A. Vehicle armor, aircraft, and body armor are expected to drive the adoption of Armor Material.

A. • Extended lockdown may impact the growth for armor materials in long run due to limited production and postponement of contracts. • Owing to stringent regulations imposed to maintain social distancing, manufacturers are not being able to operate at full strength, which has led to decrease in production capacity. • In many nations, the defence equipment, including armors, weapons, and vehicles are imported from other countries. However, in the midst of the pandemic, due to the restrictions in transport, the supply chain is completely disrupted. Moreover, the logistics chains of the manufacturers have been affected, due to restrictions on movement and implementation of nationwide lockdown. • Furthermore, due to social distancing norms during COVID-19, manufacturing firms are working with limited workforce; thus, negatively impacting the production process. • However, implementation of IOT and automation may reduce the need of labors wherever possible and increase operational efficiency. The automated packaging involving smart robots can reduce the workers on shop floors; thus, maintaining social distancing norms.

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