Armor Materials Market Report

Market Insights

Armor Materials Market is likely to witness an impressive CAGR of 7.3% during the forecast period. The development of advanced armor materials using composites and nano-fibers is majorly contributing to the growth of the armor materials market.

Segments' Analysis

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Armor Materials Market Share: By Material Type

Based on the material type, the market is segmented as metals & alloys, ceramics, composites, para-aramid fiber, ultra-high-molecular-weight polyethylene, fiberglass, and others. Metals & Alloys are estimated to account for the largest share of the armor materials market during the forecast period. High-density steel, titanium, and aluminum, along with their alloys are the metals which are used as armor materials for various applications such as vehicle, aerospace, body, civil, and marine armor systems. These armor materials offer excellent properties such as strength and toughness by heat treatment, alloying, and working techniques, which make them capable of providing the required ballistic protection.

Armor Materials Market Share: By Application Type

Based on the application type, the armor materials market is segmented as vehicle armor, aerospace armor, body armor, civil armor, and marine armor. Body armor is expected to grow at the highest rate during the forecast period. Increasing security concerns in the emerging economies and provision of security to law enforcement and military personnel, and modernization of weapons are the main factors contributing to the growth of the body armor segment.

Armor Materials Market Share: By Region

In terms of regions, North America is estimated to account for a considerable share of the armor materials market by 2024, driven by the surge in demand for homeland security applications and the incessant development of advanced armor systems for the US Army.

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On the other hand, Asia-Pacific is expected to be the fastest-growing market during the forecast period. There is an increasing demand for armor materials in the region, on account of military modernization programs by countries such as China and India. The mounting strains between countries in the region, as well as internal acrimonies, are also the driving factors for the armor materials market in the region. Europe is also expected to offer substantial growth opportunities during the forecast period.

Market Scope & Segmentation

Armor materials are made from metals such as high-density steel, aluminum, and titanium, along with their alloys, used in making vehicle, aerospace, civil, and marine armor systems. These materials provide excellent properties such as robustness, strength, and toughness which increase their demand in the market.

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 armor materials market is segmented into the following categories. 

Armor Materials Market Size, Share, & Forecast, by Material Type:

• Metals & Alloys
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Material Type Analysis: High-Density Steel, Aluminum, and Titanium)
• Ceramics
  •  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Material Type Analysis: Aluminum Oxide, Silicon Carbide, and Boron Carbide)
• Composites
  •  (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Material Type Analysis: Fibers, Fabrics, Matrix Materials, Prepregs, Hybrid Composites, and 3D Composites)
• Para-Aramid Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ultra-High-Molecular-Weight Polyethylene (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fiberglass (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Armor Materials Market Size, Share, & Forecast, by Application Type:

• Vehicle Armor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace Armor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Body Armor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Civil Armor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine Armor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Armor Materials Market Size, Share, & Forecast, by Region:

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

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Key Players

Some of the major players in the armor materials market are-

• Alcoa Corporation
• Allegheny Technologies, Inc.
• Compagnie de Saint-Gobain S.A.
• Dupont De Nemours, Inc.
• Honeywell International Inc.
• Koninklijke DSM N.V.
• Saab AB
• Tata Steel Ltd.
• Teijin Limited
• The 3M Company

Research Methodology

This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the 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. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report 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 by any one of the material 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.