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Global Armor Materials Market Size was valued at USD 11.8 Billion in 2022. The Armor Materials market industry is projected to grow from USD 12.8 Billion in 2023 to USD 20.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period (2023 - 2032). Rising demand for homeland security, as well as increasing military and defense spending, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The noticeable rise of the military and defense sectors is one of the primary elements promoting a positive outlook for the market. Armor materials are regularly used to protect soldiers in battle and minimize the force of approaching weapons and projectiles. The device is widely used to protect military vehicles from missiles, bullets, and shrapnel, which is also promoting market expansion. Numerous product developments, such as the introduction of lightweight armour materials that are extremely flexible and sustainable and provide consumers with enhanced protection, are leading to the market's expansion. Accordingly, the marine industry's expanding requirement for goods to protect assets from underwater torpedoes, shellfire, and ultraviolet (UV) rays is favorably influencing market growth. Additional factors that are anticipated to drive the market toward growth include the widespread use of ultra-high-molecular-weight polyethylene in the manufacture of flexible, light-weight, and durable bulletproof vests, as well as the implementation of numerous government initiatives to support soldier modernization strategy, particularly in developing nations.
Another important element driving the market for armor materials is the rising demand from the defense and security sectors. The need for high-tech armor materials to protect against ballistic, explosive, and other dangers to people, vehicles, and essential infrastructure is causing this industry to grow. The rise in geopolitical tensions, particularly in regions like the Middle East and Asia Pacific, has led to a greater need for armor materials. Nations are boosting their defense budgets and investing in state-of-the-art armor systems to stave off potential threats.
One of the major reasons projected to fuel the growth of the armour materials market during the forecast period is the rise in security concerns in emerging nations. Additionally, it is anticipated that the market for armored materials would expand as demand for homeland security rises. The development of deadly ammunition and weapons is also expected to limit the growth of the market for armor materials. On the other hand, it is predicted that at that time, government regulations will make it more challenging for the market for armor materials to grow.
The military modernization programs will probably open up new opportunities for the market for armor materials to grow in the future years. Due to the rising price of lightweight armour materials, the market for armour materials may soon confront new difficulties. Thus, driving the Armor Materials market revenue.
The global Armor Materials market segmentation, based on Application, includes vehicle armor, aerospace armor, body armor, civil armor, and marine armor. The industry for vehicle armor had the largest market share in 2022. Vehicle armor is the most popular use of armor materials due to the high need for protection in the defense and security sectors. It is vital to protect individuals within vehicles from ballistic, explosive, and other risks because they are regularly used in military and law enforcement operations.
The global Armor Materials market segmentation, based on Material Type, includes metals & alloys, composites, para-aramid fiber, UHMWPE, fiberglass, and others. The metals and alloys industry had the largest market share in 2022. This is because military vehicles and armor are increasingly using titanium and its alloys, which is expected to drive market growth. Due to its low density and outstanding resistance to corrosion, titanium is frequently employed to produce lighter automobiles and body armor.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Armor Materials Market dominated this market in 2022 (45.80%). This is primarily due to the terrorism-related rise in homeland security concerns. The United States has the largest military force in the world and spends the most money on it. There are growing geopolitical and bilateral conflicts among the major nations. In addition, the increase in terrorist activity has led to a surge in the purchases of armor materials used to make defense equipment. The United States and Saudi Arabia also came to a significant agreement for the supply of weapons in addition to the F-35 combat aircraft. The largest American producer of fighter aircraft, Lockheed Martin, intends to almost double its current yearly production to more than 160 aircraft by 2023. The US army has made public its intentions to devote around USD 1.4 billion on the development of light tanks in the foreseeable future. Further, In the North American area, the U.S. Armor Materials market had the biggest market share, while the Canada Armor Materials market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The largest market share belongs to the armor materials market in Europe. This is due to the rising need for homeland security applications and the creation of cutting-edge armor systems and materials for automobiles and airplanes. Additionally, by promoting the use of domestically produced goods like armor materials (steel, fiber), a number of amendment acts in the region contribute to the expansion of the regional market. Further, In the European region, the German Armor Materials market had the biggest market share, and the U.K. Armor Materials market had the quickest rate of growth.
The Asia Pacific Armor Materials market is expected to register fastest growth from 2023 to 2032. An rise in military activities is to blame for this. The modernization of military programs in countries like China, Japan, and South Korea is also predicted to increase demand for materials used in vehicle and aircraft armor. Moreover, In the Asia-Pacific region, the Indian Armor Materials market had the quickest rate of growth while China's Armor Materials market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Armor Materials market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Armor Materials sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Armor Materials sector. Major players in the Armor Materials market, including DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, KONINKLIJKE TEN CATE BV., ATI, SAAB AB, CERAMTEC, and CoorsTek, Inc., are attempting to increase market demand by investing in research and development operations.
Teijin Ltd. (Teijin) is a holding company with a strong focus on technology that offers products and services in the areas of healthcare, energy, information, and electronics, as well as safety and protection. It manufactures and distributes aramid fiber, carbon fiber products, synthetic fiber, polyester films, resin goods, chemical goods, IT goods, pharmaceuticals, and water purification systems. Additionally, it manufactures and sells IT goods. The company sells drugs to treat maladies of the bones and joints as well as illnesses of the respiratory, cardiovascular, metabolic, and other systems. There are also devices for home oxygen therapy including ones related to sleep disordered breathing. In addition to Japan, Teijin also operates in Europe, America, and Asia. The company ships its products to customers in Asia, the Americas, and Europe. The main office of Teijin is located in Tokyo, Japan. In November 2020, Teijin Limited developed high-performance fibers using eco-friendly raw resources. The fibers would be used in a variety of items, including safety gear, airfreight containers, and car tires.
The company DuPont de Nemours Inc (DuPont), formerly known as DowDuPont Inc., provides technology-based products and solutions. It addresses both the front and back ends of the manufacturing process by offering materials and printing systems to the advanced printing industry as well as materials and solutions for the fabrication of integrated circuits and semiconductors. The company's product line includes resins, adhesives, advanced printing solutions, animal nutrition, building supplies, biomaterials, electrical solutions, textiles, fibers & nonwovens, food & beverage ingredients, industrial films, and other items. Among the industries it helps are those in the automobile, building and construction, energy, electronics, food and beverage, textile, aerospace, medicine, personal care, and packaging and printing. DuPont is based in Wilmington, Delaware, a city in the United States. In February 2021, DuPont acquired Core Matrix Technology from Tex Tech, a monolithic fabric structure that will significantly minimize backface damage. It enhanced military and law enforcement personnel's ballistic and fragmentation performance.
· DuPont
· DSM
· Honeywell International Inc
· Saint-Gobain
· 3M
· KONINKLIJKE TEN CATE BV.
· ATI
· SAAB AB
· CERAMTEC
· CoorsTek, Inc.
February 2021: Teijin Limited expanded the scale of its Teijin Aramid production facility in the Netherlands. Installing the new machinery was the final phase of a multi-year endeavor to increase production capacity and sustainability at Teijin Aramid facilities.
December 2020: An industry leader in armor production, NP Aerospace, unveiled the new 4030 ELITE Bomb Disposal Suit. It has increased the scope of its explosive ordnance disposal (EOD) capabilities with the release of a new generation of bomb disposal suits targeted at North America and other significant foreign markets.
November 2020: According to a statement from TenCate Advanced Armour Holding B.V., Agilitas has agreed to support the acquisition of TenCate Advanced Armour Holding B.V. and its subsidiaries.
· Metals & Alloys
· Composites
· Para-Aramid Fiber
· UHMWPE
· Fiberglass
· Others
· Vehicle Armor
· Aerospace Armor
· Body Armor
· Civil Armor
· Marine Armor
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 11.8 Billion |
|
Market Size 2023 |
USD 12.8 Billion |
|
Market Size 2032 |
USD 20.5 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.60% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Material Type, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, KONINKLIJKE TEN CATE BV., ATI, SAAB AB, CERAMTEC, and CoorsTek, Inc |
|
Key Market Opportunities |
Rising military modernization programs |
|
Key Market Dynamics |
significant growth in the military and defense industries and growing demand for homeland security |
The global Armor Materials Market was valued at USD 11.8 billion in 2022, and it is estimated to reach USD 20.5 billion by 2032.
The global market is projected to grow at a CAGR of 6.60% during the forecast period, 2023-2032
North America had the largest share in the global market
The key players in the market are DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, KONINKLIJKE TEN CATE BV., ATI, SAAB AB, CERAMTEC, and CoorsTek, Inc.
The Metals & Alloys Material Type dominated the market in 2022.
The Vehicle Armor Application had the largest share in the global market.
Report Code :
RL6560
Published on :
Aug 2023
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