Report Code: A06826 | Pages: 245 | Aug 2020 | 4640 Views | ||
Author(s) : Pratik M , Eswara P | Tables: 108 | Charts: 42 |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Armor Materials Market
Request Now !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.
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.
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.
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.
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:
Key Benefits For Stakeholders
Armor Materials Market Report Highlights
Aspects | Details |
---|---|
By Material Type |
|
By Application |
|
By Region |
|
Key Market Players | DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, KONINKLIJKE TEN CATE BV., ATI, SAAB AB, CERAMTEC, CoorsTek, Inc. |
Loading Table Of Content...
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.
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.
Start reading instantly.
This Report and over 19,614+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers