Global Armor Materials Market Size 2024, Forecast To 2033
6 Mar, 2024
The armor materials market size has seen substantial growth in recent years. It will increase from $12.3 billion in 2023 to $13.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. Growth in the historic period can be attributed to military conflict and warfare, focus on soldier safety, regulatory standards and requirements, strategic geopolitical shifts, and protection for vehicles and equipment. Projections suggest strong growth, with the market expected to expand to $16.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. This growth is driven by increasing defense expenditure, rising security threats, focus on soldier protection, shift towards urban warfare, and military modernization programs. Major trends in the forecast period include R&D in material science, sustainability and environmental impact, integration of sensor technologies, evolving threat landscape, and adoption of additive manufacturing.
Global Armor Materials Market Key Driver
The armor material market is anticipated to experience significant growth, propelled by the increasing terrorist threat worldwide. Terrorist threats entail acts of violence endangering others and demonstrating blatant disregard for the harm caused. High-strength armor materials play a crucial role in shielding individuals from projectiles like knives, shell fragments, and bullets during terrorist attacks or critical situations. The escalating terrorist threat is expected to drive demand for armor materials significantly. For instance, according to a report by The Center for Strategic and International Studies (CSIS), terrorist acts and conspiracies in the United States surged from 2% in 2019 to 53% in 2021, with 43% of attacks in 2021 directed towards the government, armed forces, and law enforcement. Hence, the increasing terrorist threat serves as a key driver for the growth of the armor material market.
Get A Free Sample Of The Global Armor Materials Market ReportGlobal Armor Materials Market Segments
The armor materials market covered in this report is segmented –
1) By Material Type: Metals And Alloys, Composites, Para-Aramid Fiber, UHMWPE (Ultra-High-Molecular-Weight Polyethylene), Fiberglass, Other Materials
2) By Product Type: Vest, Helmets, Other Products
3) By Protection: Level II, Level IIA, Level III, Level IIIA, Level IV
4) By Application: Vehicle Armor, Aerospace Armor, Body Armor, Civil Armor, Marine Armor
5) By End-User: Defense, Law Enforcement And Security Personnel, Civilians
By Geography:The regions covered in the armor materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the armor materials market in 2023. North America is expected to be the fastest-growing region in the global armor materials market report during the forecast period. The regions covered in the armor materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Armor Materials Industry Players
DuPont de Nemours Inc., Honeywell International Inc., 3M Company, Saab AB, Compagnie de Saint-Gobain S.A., Teijin Aramid B.V., Koninklijke Ten Cate BV., CeramTec GmbH, CoorsTek Inc., Morgan Advanced Materials plc, The Safariland Group LLC, PPG Industries Inc., NP Aerospace Ltd., Ballistic Body Armour Ltd., Pacific Safety Products Inc., ATI CeramTec GmbH, Ceradyne Inc., Allegheny Technologies Incorporated, AGY Holding Corp., White Horse Research and Development Inc., Megiddo Global LLC, Hard Shell U.S., ArmorCo Advanced Armoring Products Inc., Tata Steel Ltd., Armorup LP, Tex Tech Industries Inc., SAE Manufacturing Specialties Corp., SafeGuard Armor Ltd., Schunk Carbon Technology LLC, Aloca Inc.
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Armor Materials Market Overview
Armor material refers to the numerous materials used to create various types of armor or body armour. Armor materials are used to make protective clothing with the capacity to deflect or absorb the impact of projectiles or other weapons that may be used against its wearer.
Armor Materials Global Market Report 2023 provides data on the global armor materials market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The armor materials market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.