Armor Materials Market is expected to reach USD 17.21 Billion by 2026 from USD 8.75 Billion in 2016 at a CAGR of 7.0%.
Armors are used widely across applications such as vehicle armor, aerospace armor, body armor, marine armor and civil armor. Ceramics material are significantly used for light weight applications in personal armor systems and vehicle protection. Armor material has gone through several developments since ages. Innovation in technology plays an important role in material used in armor in order to withstand threat. Investments in manufacturing of armor, government investments for defense and security and increasing threats is shifting preferance to advanced materials in manufacturing of armor. Advanced materials are an example of advancing technology that provide more strength, resistance to temperature and moisture and is light weighted.
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Armor materials market based on product type has been segmented into metals & alloys, composites, ceramics, para-aramid fiber, ultra high molecular weight polyethylene , fiberglass and others. Metals & alloys segment lead the armour materials market. Ceramics segment is expected to grow at a high CAGR due to their high structural protection properties, low weight and high rigidity.
Geographically, the armor materials market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is holds largest markets for armor materials. Asia Pacific region is expected to grow at a high CAGR during the forecast period. Increasing security concerns in developing nations and rising demand for homeland security is expected to drive the market growth in Asia Pacific region.
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Key Players Profiled in the Report:
• E. I. Du Pont De Nemours and Company (US)
• Honeywell International Inc. (US)
• DSM NV (Netherlands)
• Compagnie de Saint-Gobain SA (France)
• 3M Ceradyne, Inc. (US)
• Allegheny Technologies Incorporated (US)
• Alcoa Inc. (US)
• Saab AB (Sweden)
• Royal TenCate NV (Netherlands)
• Tata Steel Limited (India)
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