PUBLISHER: Value Market Research | PRODUCT CODE: 1352870
PUBLISHER: Value Market Research | PRODUCT CODE: 1352870
The global demand for Armor Materials Market is presumed to reach the market size of nearly USD 33.65 BN by 2030 from USD 15.09 BN in 2022 with a CAGR of 9.32% under the study period 2023 - 2030.
Armor Materials are used as shields for protection against weapons. Due to the advancement of technology, nowadays, lightweight body armors are used, made from ceramics, to protect the body from the impact of bullets. Those made with advanced fiber absorb the shock by dispersing the energy across the armor. These materials found applications in the body armors, aerospace, and vehicle systems. The armor materials could be ranged from steel, aluminum, and titanium with their alloy, to ceramics and fibers, etc. These materials give protection from injuries and fatalities. They are widely used in police and military operations. Modern armor materials are preferred over conventional armor because of their lightweight and better protection abilities.
The armor materials market growth is favorable during the projection period. Growing political insurgencies, the incidence of terrorism across the globe, and domestic conflicts compel governments to develop effective military solutions, leading to the necessity of high-quality armor materials. The widespread use of lightweight aluminum alloys in military vehicles is one of the market drivers for growth. They are also used in air transportation of equipment for military vehicles due to their high-performance quality. Their ability to prevent corrosion and low cost make the aluminum alloys a perfect replacement for titanium alloys. The serious concern over safety issues led the emerging economies to invest heavily in body armor for police and military personnel to add to the growth of the market. The coming of state-of-the-art armor materials made of steel alloys which are tougher than ceramics, will create new market opportunities in the forecast period. The key market players concentrate on product launching, acquisitions, and collaborations to withstand the market pressure.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of armor materials. The growth and trends of armor materials industry provide a holistic approach to this study.
This section of the armor materials market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Armor Materials market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the armor materials market include E. I. Du Pont De Nemours and Company (US), DSM NV (Netherlands), Honeywell International Inc. (US), Compagnie de Saint-Gobain SA (France), Allegheny Technologies Incorporated (US), 3M CeradyneInc.,(US), Alcoa Corporation (US), Royal TenCate NV (Netherlands), Saab AB (Sweden), CoorsTek Inc.,(US), Morgan Advanced Materials (UK), CeramTec GmbH (Germany), Tata Steel Limited (India), AGY Holding Corp. (US), PPG Industries Inc. (US). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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