The armour materials market is expanding due to geopolitical tensions, terrorism threats, lightweight solutions, and technological advancements.
— Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 25, 2023 /EINPresswire.com/ — The armor materials market is expected to grow at 5.3% CAGR from 2023 to 2029. It is expected to reach above USD 17.35 Billion by 2029 from USD 10.9 Billion in 2022.
Armour materials are specialised protective fabrics designed to reduce impact or damage from outside forces by absorbing shocks. These substances absorb the energy from a bullet’s impact by spreading it across the surface. They are made of leather, ceramics, metals, para-aramid fibre, alloy, and fibreglass. Ceramic materials such as aluminium oxide, boron carbide, titanium boride, silicon carbide, synthetic diamond composite (syndite), and aluminium nitride are also used to make armour materials. These materials, which have high structural strength, fracture and crack resistance, and chemical inertness, are commonly used in bulletproof vests, armour, helmets, and vehicles. They provide improved defence against pistols and sharp-edged weapons and are lightweight, sturdy, and comfortable to wear.
It is expected that the market for armour materials will expand significantly. The growing demand for applications for automobile, marine, and aircraft protection may be related to the industry’s growth. As military programmes around the world modernise, so does the demand for armour. Global governments’ growing concerns about soldier safety and survival are driving up demand for advanced armours and, as a result, the market during the forecast timeframe. Furthermore, due to the increase in terrorist operations around the world, there is a significant demand for body armour and vehicle protection.
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• In December 2022, NP Aerospace and Supacat have repurposed a number of IED damaged High Mobility Truck Variant (HMTV) vehicles for UK Ministry of Defence training under the Protected Mobility Engineering & Technical Support (PMETS) Contract.
• In February 2023, CoorsTek is pleased to announce that it is continuing its title sponsorship for the 60th Annual Denver Metro Regional Science and Engineering Fair (DMRSEF). The 2023 fair will be held February 24-25 at the CU Denver campus.
Key Aspects That Were Relevant at That Time
• Global Security Concerns:
Increasing geopolitical tensions and security threats worldwide were driving the demand for advanced armor materials. Governments and defense organizations were investing in upgrading their defense capabilities, leading to a rise in the demand for state-of-the-art armor materials.
• Military Modernization Programs:
Many countries were engaged in military modernization efforts, focusing on enhancing the capabilities of their armed forces. This involved the adoption of advanced armor materials for personnel protection, vehicle armor, and other defense applications.
• Law Enforcement and Homeland Security:
The need for advanced armor materials extended beyond military applications to include law enforcement and homeland security. There was a growing demand for lightweight and effective armor solutions for police officers, special forces, and other security personnel.
• Terrorism and Asymmetric Threats:
The persistent threat of terrorism and asymmetric warfare highlighted the importance of developing armor materials capable of providing protection against a range of threats, including ballistic, blast, and improvised explosive device (IED) attacks.
• Technological Advancements:
Ongoing advancements in materials science and technology were contributing to the development of more sophisticated armor materials. Innovations such as nanotechnology, smart materials, and advanced composites were being explored to enhance the performance of armor.
Armor Materials Market Technological Trends
• Advanced Composites:
There is a growing trend in using advanced composite materials for armor applications. These composites often combine materials like ceramics, metals, and polymers to achieve a balance of strength, durability, and weight.
• Nanostructured Materials:
Nanotechnology has been making strides in armor development. Nanostructured materials offer enhanced mechanical properties and can be used to improve the performance of existing armor materials.
• Graphene-Based Armor:
Graphene, a single layer of carbon atoms arranged in a hexagonal lattice, has exceptional strength and flexibility. Researchers have been exploring its use in armor applications to create lightweight and strong protective gear.
• Smart Materials:
The integration of smart materials, such as shape-memory alloys and materials with adaptive properties, is a trend in armor development. These materials can change their properties in response to external stimuli, providing enhanced protection.
• Additive Manufacturing (3D Printing):
Additive manufacturing techniques, including 3D printing, have been explored for producing complex geometries in armor components. This allows for customization and optimization of armor designs.
Armor Materials Market Players
• CoorsTek Inc.
• NP Aerospace
• DSM NV
• Saab AB
• Tata Steel Ltd.
• Morgan advanced Materials
• Alcoa Corporation
• PPG Industries
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The greatest revenue share in 2022 over 45% was accounted for by North America.
A significant consumer of armor materials is the military and defense industry in North America. The demand for armour materials in the area is being driven by the fact that the United States, in particular, is one of the major defence spenders worldwide. Several of the top producers of armor materials are based in North America, and they are making significant investments in research and development to create cutting-edge materials. The demand for armor materials in the area is anticipated to rise as a result. The need for personal safety gear, such as body armor, is rising in the North American region. This is caused by escalating active shooter episodes, stricter workplace safety laws, and increased crime rates.
Key Market Segments: Armor Materials Market
Armor Materials Market By Material, 2023-2029, (USD Billion), (Kilotons)
• Metals & Alloys
• Para-Aramid Fiber
Armor Materials Market By Application, 2023-2029, (USD Billion), (Kilotons)
• Vehicle Armor
• Aerospace Armor
• Body Armor
• Civil Armor
• Marine Armor
• Rising Security Concerns: Increasing geopolitical tensions and the need for enhanced defense capabilities have been driving the demand for advanced armor materials.
• Technological Advancements: Ongoing advancements in materials science and technology contribute to the development of lighter, more durable, and effective armor materials.
• Military Modernization Programs: Many countries are investing in military modernization programs, leading to the adoption of advanced armor materials in defense systems.
• Threat of Terrorism: The global threat of terrorism has led to increased demand for personal protective equipment and armored vehicles.
• Focus on Soldier Protection: Governments and defense organizations are emphasizing the safety and protection of military personnel, leading to the adoption of advanced armor materials for body armor and helmets.
• Rise in Defense Budgets: Increased defense budgets in various countries provide funding for the development and procurement of advanced armor materials.
• High Costs: The production and integration of advanced armor materials can be expensive, which may limit their adoption, especially for smaller defense budgets.
• Weight Considerations: While advancements are being made in developing lightweight armor materials, weight remains a consideration, especially for soldiers who need to be agile.
• Emerging Markets: Growing security concerns in emerging markets provide opportunities for the expansion of the armor materials market.
• Research and Development: Investments in R&D for innovative armor materials present opportunities for companies to develop cutting-edge solutions.
• Supply Chain Disruptions: The armor materials market may face challenges related to the supply chain, including the sourcing of raw materials and disruptions in manufacturing processes.
• Regulatory Hurdles: Stringent regulations and compliance standards in the defense sector can pose challenges for market players.
• Global Economic Uncertainty: Economic fluctuations and uncertainties can impact defense budgets, affecting the procurement of armor materials.
Key Question Answered
1. What is the expected growth rate of the armor materials market over the next 7 years?
2. Who are the major players in the armor materials market and what is their market share?
3. What are the end-user industries driving demand for market and what is their outlook?
4. What are the opportunities for growth in emerging markets such as asia-pacific, middle east, and africa?
5. How is the economic environment affecting the armor materials market, including factors such as interest rates, inflation, and exchange rates?
6. What is the expected impact of government policies and regulations on the armor materials market?
7. What is the current and forecasted size and growth rate of the global armor materials market?
8. What are the key drivers of growth in the armor materials market?
9. Who are the major players in the market and what is their market share?
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Article originally published on www.einpresswire.com as Armor Materials Market Expected to See Incredible Growth USD 17.35 Billion by 2029