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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 research report presents a complete judgment of the market through strategic insights on future trends, armor materials market size, share, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. The need for armor materials has grown as terrorism and insurgent threats spread around the globe. To fend off terrorist attacks, governments and law enforcement organizations are making significant investments in cutting-edge armor technologies.
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Browse 289 market data Tables and 56 Figures spread through 273 Pages and in-depth TOC on "Armor Materials Market by Materials Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass), Application (Vehicle, Aerospace, Body, Civil, Marine), & Region (Asia Pacific, North America, Europe, South America) – Global Forecast to 2027"
The market is projected to grow because of the expanding use of lightweight aluminum alloys in military vehicles like troop carriers. Lightweight aluminum alloys are utilized for equipment transportation, especially air transport for military vehicles, due to their superior performance. The government's growing concern over safety issues has also resulted in new investments in body armor for law enforcement and military personnel, expanding the market for armor materials.
Vehicle armor was the largest application of the armor materials market, in terms of value, in 2021
Due to the increasing use of lightweight aluminum alloys in military vehicles like personnel carriers, which will spur market growth, the vehicle armor segment accounted for largest share in 2021, in terms of value. Lightweight aluminum alloys are utilized for equipment transportation, especially air transport for military vehicles, due to their superior performance.
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Metals & alloys is estimated to be the largest material type of the armor materials, in terms of value, during the forecast period.
Metals and alloys, ceramics, composites, para-aramid fiber, ultra-high-molecular-weight polyethylene, fiberglass, and others are the different market segments based on the material type. During the projection period, Metals & Alloys are projected to hold the largest market share for armor materials. The metals utilized as armor materials for diverse applications, such as vehicle, aircraft, body, civil, and marine armor systems, include high-density steel, titanium, aluminum, and their alloys.
North America is estimated to be the largest market for the armor materials market, in terms of value, during the forecast period.
North America is projected to be the largest market for armor materials, driven by the US Army's constant need for advanced armor systems and the spike in demand for homeland security applications. Rising geopolitical and bilateral tensions exist among the major countries. Also, the rise in terrorist operations has resulted in a rise in the purchase of armor materials to produce defense gear.
Armor Materials Market Trending Key Players
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).
DuPont de Nemours, Inc. has a strong global presence. It uses Kevlar and Nomex aramid fibers, which are extremely strong and flexible. These are used for a wide range of military applications, including body armor and vehicle armor. The company has a wide economic portfolio and a defense material product range. Because of its wide range of products and market reach, the company is a market leader in the armor material industry. In February 2021, the company acquired Tex Tech’s Core Matrix Technology, a monolithic fabric structure that would significantly reduce back-face trauma. It resulted in enhancing ballistic and fragmentation performance for law enforcement and military personnel.
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Teijin Limited is a global group of companies that manufactures, processes and sells chemical, carbon fiber, and carbon fiber-reinforced composite products. Its main subsidiary, Toho Tenax, offers advanced products and solutions used in the aerospace & defense industry. Teijin Limited has a wide range of aramid fibers, which helps the company maintain its position in the market. Apart from this, the company is expanding its production operations rapidly to cater to the increasing demand for high-quality products. Increased product supply would help the company increase its revenue. The company is aggressively partnering with various relevant companies to develop innovative solutions. As a part of its business strategy, the company is focusing on expanding its global presence to strengthen its leadership in the market. In February 2021, the company expanded its Teijin Aramid production capacity in the Netherlands. Installing the new equipment was just the latest step in a multi-year program designed to increase both production capacity and sustainability at Teijin Aramid locations.
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