Armor Materials Market by Material Type, Application, Analysis and Industry Forecast, 2020–2027 | 5.3 % CAGR

Armor Materials Industry

Armor Materials Industry

Armor Materials Market growth is driven by rise in application of lightweight materials, surge in number of warfare activities.

PORTLAND, UNITED STATES, USA, October 22, 2021 / -- By application, the vehicles segment held the largest share in 2019, contributing to around two-fifths of the global armor materials market, owing to growing application of lightweight aluminum alloys in military vehicles such as personnel carriers. However, the body segment is expected to portray the highest CAGR of 6.5% during the forecast period, due to increase in application for Kevlar fabrics and Dyneema fabrics in armor vests.

By region, the market across North America held the largest share in 2019, accounting for more than half of the market, owing to the increasing demand for homeland security applications and development of advanced armor materials and systems for vehicles and aerospace. However, the global armor materials market across Asia-Pacific is expected to manifest the highest CAGR of 6.8% during the forecast period, due to increasing warfare activities.

Request PDF Brochure:

As per the report, the global armor materials market was pegged at $10.6 billion in 2019, and is expected to reach $15.7 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.

By material type, the composites segment to register the highest CAGR 6.7% during the forecast period, owing to growing preference of composite materials in mobile military equipment, such as tanks and large ships. However, the metal & alloys segment held the largest share in 2019, accounting for nearly two-fifths of the global armor material market, due to growing application of titanium and its alloys in military armor and vehicle.

Rise in application of lightweight materials, surge in number of warfare activities, and increase in concern from government over safety have boosted the growth of the global armor materials market. However, limited application of multi-layered composite material and high cost hamper the market. On the contrary, advancements in armor material plates are expected to create lucrative opportunities for the market players in the future.

COVID-19 scenario:

1. Increased in warfare across the borders of India-China, the demand for armor materials has increased.
2. However, the shortage of labor, lack of raw materials, and disrupted supply chain hamper the manufacturing of armors.

Interested in Procuring this Report? Visit Here:

Major market players

1. China National Bluestar (Group) Co. Ltd.
2. Kermel
3. Guangdong Charming Co., Ltd.
5. Suzhou Zhaoda Specially Fiber Technical Co., Ltd.
6. JSC Kamenskvolokno
7. Tango Engineering Ltd.
8. YF International BV
9. Lydall Performance Materials Inc.
10. Polymer Technologies Pte. Ltd.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Similar Report:

Aerospace Materials Market

Technical Ceramics Market

David Correa
Allied Analytics LLP
+18007925285 ext.
email us here
Visit us on social media:

Have a Press Release to Share ?

Need A Website ?

Our Distribution

subscribe our Newsletter

For exclusive content regarding the latest press release, editorials and stories.

Get In Touch

PR Wire India is a popular online Press Release distribution portal. If you are looking for news all over the world, we are the only source from India

Press release owners and distributors are responsible for all the content and other legal actions