Armor Materials Market Scope
Armor is a protective covering, which is used to inhibit damage from being inflicted on an object, individual or vehicle by projectiles or direct contact weapons, usually during combat, or from damage caused by potentially dangerous environments or activity. These armors are made from strong armor materials in order to offer complete security and safety to the vehicle, body, and airplane, among others. The demand for armor materials is rising significantly owing to the development of lethal ammunition and weapons coupled with increased security concerns among the developing countries. The growing demand for lightweight armor materials is one of the major trend witnessing within the industry.
The market study is being classified by Type (Metals & Alloys, Composites, Ceramics, Para-aramid Fiber, UHMWPE, Fiberglass and Others), by Application (Vehicle Armor, Aerospace Armor, Body Armor, Civil Armor and Marine Armor) and major geographies with country level break-up. According to AMA, the Global Armor Materials market is expected to see growth rate of 7.03% and may see market size of USD15.4 Billion by 2024.
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Armor Materials market throughout the predicted period.
Dupont De Nemours, Inc. (United States), Koninklijke Dsm N.V. (Netherlands), Honeywell International Inc. (United States), 3M Company (United States), Saab AB (Sweden), Compagnie De Saint-Gobain SA (France), Teijin Limited (Japan), Tata Steel (India), Alcoa Corporation (United States) and Allegheny Technologies, Inc. (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Ceramtec (Germany), Coorstek Inc. (United States), Morgan Advanced Materials (United Kingdom), Cerco Corporation (United States), AGY Holding Corp. (United States), PPG Industries, Inc. (United States), Safariland, LLC (United States), Leeco Steel, LLC (United States), Armorworks Enterprises, LLC (United States), Armorstruxx LLC (United States), SafeGuard Armor LLC (United States) and ATI (United States).
AdvanceMarketAnalytics has segmented the market of Global Armor Materials market by Type, Application and Region.
On the basis of geography, the market of Armor Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 7 Aug 2019, 3M announced that it has entered into an agreement with Avon Rubber p.l.c. to purchase 3Mís advanced ballistic-protection business for USD 91 million, subject to closing and other adjustments. Further contingent consideration of up to USD 25 million is payable depending on the outcome of pending tenders. Avon Rubber is a provider of advanced chemical, biological, radiological and nuclear respiratory protection systems for military, law enforcement, and fire customers. 3Mís ballistic-protection business is part of its advanced materials business.
On 9 May 2017, DSM Dyneema has announced the expansion of its ballistic materials research and development capabilities specific to helmet applications. With this, DSM Dyneema is demonstrating its commitment to supporting global armor manufacturers seeking to create next-generation lightweight, high-performance helmet designs and technologies based on Dyneema material advancements.
- The Rising Popularity of Lightweight Armor Materials
- Nanomaterials Are Being Implemented Into Body Armor Production Using a Number of Methods
- Increasing Security Concerns in Developing Countries
- Growing Demand for Homeland Security
- Development of Lethal Ammunition and Weapons
- Increasing Military Modernization Programs
- Changing Battlefield Scenario Worldwide
- Stringent Government Regulations
- Failure to Provide Complete Protection May Hamper the Growth of the Market
- Development of Other Types of Armor
- High Cost of Lightweight Armor Materials
Key Target AudienceArmor Materials Manufacturers, Armor Materials Traders/Distributors, Armor Materials Importer/Exporter, Regulatory & Government Bodies, Research Institutes, Downstream Vendors, End Users and Others
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