The new report by Expert Market Research titled, ‘Global Armour Materials Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global armour materials market, assessing the market based on its segments like material types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 5%
Increasing political unrest and instability, and terrorism incidents around the world, have led military and law enforcement forces, and the materials science community, to develop efficient security solutions, necessitating the development of advanced armours. The growth of the global industry can be attributed to the rising demand for vehicle, marine, and aircraft protection applications. Modernisation in military programs across several countries globally is resulting in high demand for armours. Rising government concerns about army survivability and protection are predicted to boost demand for advanced armours, propelling the market forward in the forecast period. The growing application of lightweight aluminium alloys in military vehicles, such as personnel carriers, will propel the market growth.
Industry Definition and Major Segments
Armour material is a type of material that is used to protect an individual, vehicle, and others, as they are used to make protective material, such as shields for soldiers, vehicles, and others. Ceramics and composites are used as they are the cheap and heaviest source of the material. These armours are made up of materials with high hardness and low weight.
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By material type, the market is divided into:
- Metals and Alloys
- Para-Aramid Fibres
- Ultra-High-Molecular-Weight Polyethylene
Based on application, the market is classified into:
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Due to improved performance, lightweight aluminium alloys are used for transporting equipment, including air transport for military vehicles. Increasing government investments in military and defence warfare to enhance their position in times of war are expected to augment the market growth over the forecast period. One of the key growth boosters for the industry is expected to be increased defence spending to improve military vehicle performance and avoid an external attack, along with large investments in aeroplane security systems. Rapid technological advancements and the introduction of innovative products, such as lightweight materials, are among the major trends that will help the business grow in the next years.
Key Market Players
The major players in the market are DuPont, DSM, Honeywell International Inc, Saint-Gobain, 3M, Koninklijke Ten Cate BV, and ATI, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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