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    Ballistic Composites Market Forecast | 2023-28

    Ballistic Composites Market Forecast | 2023-28
    Report code - SRAD248 Delivery - 2 Weeks
    Ballistic Composites Market Size, Share, Trend, Forecast, & Industry Analysis – See more...

    Market Insights

    The ballistic composites market is estimated to grow from USD 2.1 billion in 2022 to USD 3.27 billion by 2028 at a CAGR of 7.47% during the forecast period.

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    What are ballistic composites?

    Ballistic composites are lightweight, durable, and highly resistant to damage. With the increase in demand for environment-friendly components, the use of such composites has also increased over time now.

    Ballistic composites are made up of different fabric options such as aramid fibers, glass fibers, UHMPE fibers, and others. They are used in different application areas such as vehicle armor, body armor, face protection, helmets, and others.

    Ballistic Composites Market Overview

    Market Size in 2028

    USD 3.27 Billion

    Market Size in 2022

    USD 2.1 Billion

    Market Growth (2023-2028)

    CAGR of 7.47%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Market Dynamics

    The global ballistic composites market is expected to rise owing to some growth factors including-

    • Growing demand from the defence and aerospace industries – The defense and aerospace sectors are major consumers of ballistic composites. The increasing demand for lightweight and high-performance components in both industries is driving the demand for ballistic composites globally.
    • Rising awareness for personal protection – The growing awareness for personal protection in people pushes the demand for helmets, body armor, vehicle armor, etc. The ever increasing use of armor and helmets requires ballistic composites since they have to be lightweight yet strong and durable.
    • Growing popularity of sporting activities - The growing popularity of sporting activities that involve the use of firearms, such as hunting and target shooting, is also driving the demand for ballistic composites.
    • Increasing terror activities and cross-border battles - Increasing cross-border battles such as the ongoing Russia-Ukraine war, etc. and growing terrorist attacks like the 2022 Gaza–Israel clash, Kabul airport attack, etc. have enforced military organizations to procure ballistic composite-based equipment for military personnel security and safety.

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    Key Players

    Some of the major manufacturers are-

    • Honeywell International Inc.
    • BAE Systems plc
    • Koninklijke Ten Cate bv
    • Koninklijke DSM N.V.
    • E. I. du Pont de Nemours and Company
    • Morgan Advanced Materials
    • Southern States, LLC
    • Barrday Corporation
    • PRF Composite Materials
    • Gaffco Ballistics Inc.

    Segment Analysis

    By Fiber Type

    The market is segmented as aramid fiber, UHMPE fiber, glass fiber, and others. The aramid fiber segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period owing to its extensive use in helmets, shields, and vest protection applications.

    By Matrix Type

    The market is segmented as a polymer matrix, polymer-ceramic, and metal matrix. The polymer matrix segment is expected to remain dominant during the forecast period owing to its exceptional properties such as lightweight, temperature-resistant, low friction, and high durability. Polymer matrices are extensively used in applications such as helmets and body vests.

    By Application Type

    The ballistic composites market is segmented as vehicle armor, body armor, helmets & face protection, and others. The vehicle armor segment leads the market as there is an enormous need to protect vehicles from missiles, bullets, grenades, and other ammunition.  Further, the lightweight property of composite materials in military vehicles leads to better fuel efficiency and ease of mobility.

    By Region

    North America is estimated to lead the ballistic composites market during the forecast period. The USA is the growth engine of the region’s market owing to the world’s largest defense spending, significant investment in research and development, and the presence of many ballistic composite suppliers. Asia-Pacific is expected to witness the highest growth during the forecast period owing to increasing defense budget, offset policies in countries such as India, rising tension among the countries in the region, and growing demand for advanced materials for body and vehicle armor. 

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    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

    The ballistic composites market is segmented into the following categories. 

    By Fiber Type:

    • Aramid Fibers
    • UHMPE Fibers 
    • Glass Fibers
    • Others

    By Matrix Type:

    • Polymer Matrix Composites
    • Polymer-Ceramic 
    • Metal Matrix 

    By Application Type:

    • Vehicle Armor 
      • (Application Type Analysis: Marine Vehicle Armor, Land Vehicle Armor, and Air Vehicle Armor)
    • Body Armor
      • (Application Type Analysis: Body Vests, Shields, and Protective Under Garments)
    • Helmets & Face Protection 
    • Others 

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Ballistic Composites Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the fiber types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Ballistic composites are lightweight, durable, and highly resistant to damage. With the increase in demand for environment-friendly components, the use of such composites has also increased over time now. Ballistic composites are made up of different fabric options such as aramid fibers, glass fibers, UHMPE fibers, and others. They are used in different application areas such as vehicle armor, body armor, face protection, helmets, and others.

    Honeywell International Inc., BAE Systems plc, Koninklijke Ten Cate bv, Koninklijke DSM N.V., E. I. du Pont de Nemours and Company, Morgan Advanced Materials, Southern States, LLC, Barrday Corporation, PRF Composite Materials, Gaffco Ballistics Inc. are among the key players in the market.

    North America is estimated to lead the market during the next five years.

    The aramid fiber segment is expected to remain dominant in the ballistics composites market in the coming years.

    The aramid fiber segment is expected to remain dominant in the ballistic composites market in the coming years.

    The polymer matrix segment is expected to remain dominant in the market during the next five years.

    The ballistic composites market is estimated to grow at a CAGR of 7.47% during the forecast period.

    The ballistic composites market is estimated to grow from USD 2.1 billion in 2022 to USD 3.27 billion by 2028 .

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