Global Ballistic composites Market By Matrix Type (Polymer Matrix Composites, Polymer-Ceramic, Metal Matrix); By Fiber Type (Aramid Fibers, UHMPE, Glass, Others); By Application (Vehicle Armor, Body Armor, Helmets & Face Protection, Others); By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The Global Ballistic Composites Market accounted for USD 1.28 billion in 2016 and is projected to grow at a CAGR of 7.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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TOP Competitors of Market:
Some of the major players in the ballistic composites market include
- Honeywell International Inc.,
- BAE Systems,
- Royal Ten Cate NV,
- DSM,
- Gurit,
- Dupont,
- Teijin,
- Morgan Advanced Materials,
- Southern States LLC,
- Barrday Corporation,
- PRF Composites,
- Gaffco Ballistics,
- M Cubed Technologies, Inc.
- FY Composites OY,
- MKU Limited,
- ArmorSource,
- Elmon and many more.
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Competitive Landscape:
The global ballistic composites market is highly consolidated with the presence of a limited number of players. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Drivers:
- Increasing demand for personal protection
- Growing threats from the internal and external conflicts
- Rising investment in the defense products
Market Segmentation:
On the basis of matrix type:- Polymer matrix composites, polymer-ceramic, metal matrix. Polymer matrix is expected to grow at the highest CAGR over the forecast period.
On the basis of fiber type:- Aramid fibers, UHMPE, glass, others. Others include M5 and Hybrid.
On the basis of application:- Vehicle armor, body armor, helmets & face protection, others.
Vehicle armor is further segmented:- marine vehicle armor, land vehicle armor and air vehicle armor. Body armor is further segmented into body vests, shields and protective under garments.
On the basis of geography:- North America, South America, Europe, Asia-Pacific and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Market Definition:-
Ballistic composites are required to be the lightweight and resistant and damage tolerant. Military forces are the major users of the ballistic composites. Increasing investment in the defense products will drive the growth of the market over the forecast period. Ballistic composites are used in vehicle armor, helmets, face protection and body armor.
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