November 26, 2018: Global Armour Material Market is projected to expand at a steady CAGR in the forthcoming years. Armor steels have a prolonged history of optimized ballistic performance against a range of battlefield threats and endure as highly competitive armour materials. However, factors important for ballistic and structural performance of armor seem to be many complex, hence quality engineers seek for total assurance on shearing and toughness of armored material for combat purposes. Steel continues to be having a highly competitive edge and their performance continues to get enhanced with incremental advances in steel metallurgy.
Key factors responsible for boosting the growth of armour material market includes change in battlefield scenarios and development of modern weapons and ammunition is expected to add to the market growth in the forthcoming period. Additionally, the demand for better effective armor solutions add to the growth of armour material market. However, restraints such as costs, and quality issues hinder the market growth.
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Based on segmentation by material, armour material market includes steel, UHMWPE, composite ceramic and aramid. Steel dominates the segment owing to higher demand. Based on segmentation by application, armour material market includes defense, law enforcement protection and civilians. Defense sector dominates the segment owing to extensive use of armor material for combat purpose.
Geographically, armour material Industry spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. North America and Europe market is expected to rise at a higher CAGR in the forthcoming period owing to rise in military activities and the growth in combat training activities. APAC market is likely to grow at a higher CAGR in the forthcoming years due to rising international terrorism and border issues.
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The key players in the armour material market include Point Blank Enterprises Inc, BAE Systems Inc, Australian Defence Apparel Ltd, Survitec Defense Solution, MKU Pvt Ltd, KDH Defense Systems Inc, Safariland LLC, Dupont, U.S. Armor Corporation, Honeywell, Ningbo Dacheng, Jihua Group and HuaanSecruit.
The regional scope of the study is as follows:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Singapore
- Rest of Asia-Pacific
Key Stakeholders
- Armour Material Manufacturers
- Armour Material Distributors/Traders/Wholesalers
- Armour Material Subcomponent Manufacturers
- Industry Association
- Downstream Vendors
Key questions answered in the report include
- What will be the market size in 2025?
- How will the market change over the forecast period and what will be the market size in 2025?
- What are the drivers and restraint asssociated with the market and how will these factors affect the dynamics over the forecast period?
- What are the growth areas within the market space and where should a participant focus to get maximum ROI?
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