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Will Armor Materials Market Ever Rule the World?

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Abhijeet W
Will Armor Materials Market Ever Rule the World?

The report "Armor Materials Market by Type (Metals & Alloys, Ceramics, Composites, Para-Aramid Fibers, UHMWPE, Fiberglass), Application (Vehicle, Aerospace, Body, Civil, Marine), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2024" The armor materials market size was USD 10.7 billion in 2019 and is projected to reach USD 15.2 billion by 2024, at a CAGR of 7.2% from 2019 to 2024.

Browse 118 market data Tables and 50 Figures spread through 187 Pages and in-depth TOC on "Armor Materials Market”

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Recent Developments

  • In June 2018, Dupont launched Tensylon HA120, a new material for helmets that provides maximum ballistic protection at a 40% lighter weight than traditional helmets.
  • In March 2018, Honeywell has partnered with Safariland, LLC, a designer of body armor and tactical protective gear to develop a new design for its Spectra Shield ballistic protective material, which can reduce the weight of handheld shields by up to 20%.
  • In May 2017, signed an agreement to provide more than 6,500 hearing protection devices for the US army.
  • In February 2019, Saab has expanded its footprint in the aerospace ecosystem in India by signing new Memorandums of Understanding (MoUs) with three of the country’s leading aerospace manufacturers; Dynamatic Technologies Limited, CIM Tools Private Limited, and Sansera Engineering Limited. The MoUs with CIM Tools and Sansera expand the existing working relationships between these two companies and Saab on commercial aerostructures, Gripen fighter, and other defense-related products in the Saab portfolio.

By material type metal & alloys segment accounted for the largest market of armor materials market during the forecast period

Metal & Alloys care was the largest application of the armor materials market, in terms of value and volume, in 2018. Metals such as high-density steel, aluminum, and titanium, along with their alloys, are used as armor materials for the vehicle, aerospace, and marine armor systems. These armor materials procure special characteristics (robustness, strength, and toughness) by alloying, heat treatment, and working procedures, which enable them to fulfill different ballistic protection requirements.

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By application the body armor segment to register the highest CAGR during the forecast period

Body armor segment is projected to grow at the highest CAGR in the armor materials market, in terms of value and volume, during the forecast period. This growth is attributed to the increasing security concerns in the emerging economies and to provide protection to law enforcement and military personnel. The rapid development of weapons and ammunition is also a driving factor for the growth of the body armor segment.

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