In terms of value, the armor materials market is estimated to grow from USD 11.0 billion in 2021 to USD 16.1 billion by 2027, at a CAGR of 6.6%. The growth of the automotive and aerospace industries is also driving the demand for armor materials. Manufacturers are developing new materials and technologies to improve the safety and security of vehicles and aircraft.
“Para-aramid fiber is expected to be the fastest-growing material type of the armor materials market, in terms of value, during the forecast period.”
The para-aramid fibers segment is expected to witness the highest growth in terms of volume and value during the forecast period. Para-aramid fibers show high tensile strength at low stretching. Due to this it offers excellent ballistic protection properties against a variety of bullet types. It also produces exceptional melt-resistance against exposure to extreme heat or fire and remarkable survival from chemical contact.
“Asia Pacific is projected to be the fastest growing region, in terms of value, during the forecast period is the largest armor materials market.”
Due to an increase in warfare activities, the Asia Pacific armor materials market is projected to grow at highest CAGR during the forecast period. Additionally, it is anticipated that the upgrading of military programs in nations like China, Japan, and South Korea will fuel demand for materials for vehicle and aircraft armor.
- By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
- By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
- By Region: North America - 32%, Europe - 21%, Asia Pacific - 28%, South America and Middle East & Africa - 12%, South America – 7%
The key players profiled in the report include DuPont De Nemours, Inc. (US), Teijin Limited (Japan), 3M Company (US), ATI, Inc. (US), and Honeywell International Inc. (US), Saint-Gobain SA (France), Tata Steel Limited (India), and Alcoa Corporation (US).
This report segments the market for armor materials based on materials type, application, and region and provides estimations of volume (kiloton) and value (USD million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, key strategies, associated with the market for armor materials.
Reasons To Buy this Report
This research report is focused on various levels of analysis ? industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the armor materials market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on armor materials offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the armor materials market
- Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the markets for armor materials across regions
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global armor materials market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the armor materials market