Armor Materials Market Forecasts to 2028 – Global Analysis By Product (Ultra High Molecular Weight Polyethylene (UHMWPE), Ceramics), Para-Aramid Fiber, Metals & Alloys) Application (Vehicle Armor Marine Armor, Civil Armor) and By Geography

Armor Materials Market Forecasts to 2028 – Global Analysis By Product (Ultra High Molecular Weight Polyethylene (UHMWPE), Ceramics), Para-Aramid Fiber, Metals & Alloys) Application (Vehicle Armor Marine Armor, Civil Armor) and By Geography

According to Stratistics MRC, the Global Armor Materials Market is accounted for $14.36 billion in 2022 and is expected to reach $24.35 billion by 2028 growing at a CAGR of 9.2% during the forecast period. Armor materials are used as protective covering, especially designed to prevent damage to inner surface of object to be protected from any external force or damage. Metals such as high-density steel, aluminum, and titanium, along with their alloys, are used as armor materials for the vehicle, aerospace, and marine armor systems.

According to army-technology.com, the US military is focusing on lightweight body armors with increasing scalability. The wearer can adjust the equipment depending on the threat level and mission at hand. Under the new Torso and Extremity Protection System (TEP), which is a part of the new Soldier Protection System, a modular scalable vest, ballistic combat shirt, blast pelvic protection system, and a battle belt are included, which are to be provided to the armed forces. The Spanish government has announced its decision to increase its military expenditure to approximately EUR 18 billion by 2024. The Philippines is planning to modernize its military over the next decade and has allocated PHP 25 billion for the same. Under this program, the Armed Forces of the Philippines (AFP) is expected to receive more night-capable attack helicopters and fast boats, along with more body armor, rifles, and helmets.

Market Dynamics:

Driver:

Growing security concerns in emerging countries

Increasing political unrest & uncertainty and incidences of terrorism worldwide have prompted military & law enforcement forces and the materials science community to develop effective solutions that can ensure security. Currently, political conflicts in Syria, Egypt, Libya, Iraq, Afghanistan, Russia-Ukraine, India- Pakistan, India-China, Russia-Turkey, Columbia-Peru, and criminal violence in Mexico are increasing the need for advanced armors. This is driving the demand for protective equipment. Developing countries are spending heavily on defense activities owing to the rising internal conflicts and tensions with their neighbouring countries.

Restraint:

High Cost

Due to global supply and demand, fuel costs and the price and unavailability of the ores, the armor material raw material prices increases. The worldwide increasing price of iron ore is owing to the surge in global demand and tight supply due to production curbs has sent steel prices up. It is also estimated that the non-ferrous metal price is rising by next year-end as the traders see the market undersupplied. The rise in electricity prices in southern China, a tight supply of silica, and the higher price of petroleum aids to the high price of silica globally, which is restricting the market growth.

Opportunity:

Growing Demand for Lightweight Armors

There is a rising demand and need for better-quality and lightweight armor such as making bulletproof vests and other protective armor for security personnel. These armors are supple and light, with upgraded protection, and high sustainability allowing military personnel to move with ease while running or aiming their weapons. It turns into a rigid material once the bullet knocks the armor and protects soldiers from being shot. Nanocellulose has emerged as a new material class for high-end military products such as bulletproof vests, and fire radiant materials. Thus, the emergence of a new lightweight armor materials market is projected to create ample opportunity for the market.

Threat:

Government regulations

The production and use of armor materials are regulated by government agencies to strengthen and protect the value chain for armor protection systems. The guidelines enforced are in terms of production levels, the sale of armor materials to other countries or foreign agencies, the safety of the production technology, and import from other countries. For example, the companies supplying armor materials to the US defense forces are barred from selling materials to other companies or countries without permission from the government.

The Metals & Alloys segment is expected to be the largest during the forecast period

The Metals & Alloys segment is expected to be the largest during the forecast period. Titanium, high-density steel, and aluminum, along with their alloys are the metals that are used as materials for numerous applications such as vehicle, aerospace, body, civil, and marine armor systems. These armor materials deliver excellent properties such as strength and toughness through heat treatment, alloying, and working techniques, which make them capable of providing the required ballistic protection.

The Body Armor segment is expected to have the highest CAGR during the forecast period

The Body Armor segment is expected to have the highest CAGR during the forecast period, owing to increasing security concerns in the emerging economies and provision of security to law enforcement and military personnel, and modernization of weapons are the main factors contributing to the growth of the segment.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. This can be accredited to the increasing demand for homeland security applications and the development of advanced armor materials and systems for vehicles and aerospace. Additionally, the berry amendment act in the U.S. promotes the utilization of domestically produced, manufactured products including armor materials (steel, fiber); thus, strengthening the local market growth. Furthermore, the growing development of advanced armor materials and systems for vehicles and aerospace will further boost the growth of the armor materials market in the region during the forecast period.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. This is attributable to the massive reformation & modernization of the military sector, coupled with the overall increase in defense spending in emerging countries like India and China. There is an increasing demand for armor materials in the province, on account of military modernization programs by countries such as China and India. The mounting strains between countries in the province, as well as internal acrimonies, are also the driving factors for the market in the region. Asia-Pacific is projected to observe a significant amount of growth in the market due to the rise in warfare activities.

Key players in the market

Some of the key players profiled in the Armor Materials Market include Waco Composites, Tata Steel Limited, Surmet Corporation, Saint-Gobain S.A., Royal Tencate NV, PPG Industries, Inc. ,Morgan Advanced Materials, JPS Composites Materials, Honeywell International Inc., DuPont ,CPS Technologies Corp, CoorsTek, Inc. , Allegheny Technologies, Inc., AGY Holding Corp. , 3M Ceradyne, Inc., Xeracarb Ltd., Avon Rubber, Saab AB.

Key Developments:

In January 2020: Avon Rubber acquired of 3M Company at approximately USD 91 million. This will give them an edge in body armor, ballistic helmets, flat armor and related helmet-attachment products.

In February 2019: Saab has expanded its footprint in the aerospace ecosystem in India by signing new Memorandums of Understanding (MoUs) with three of the country’s leading aerospace manufacturers; Dynamatic Technologies Limited, CIM Tools Private Limited, and Sanseras.

Product Covered:
• Ultra High Molecular Weight Polyethylene (UHMWPE)
• Ceramics
• Para-Aramid Fiber
• Metals & Alloys
• Fiberglass
• Composites

Applications Covered:
• Vehicle Armor
• Marine Armor
• Civil Armor
• Body Armor
• Aerospace Armor

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances