New York, United States, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The Global Ballistic Composites Market Size is to Grow from USD 1.93 Billion in 2022 to USD 4.32 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.4% during the projected period. The global ballistic market is projected to expand sustainably over the forecast period as a result of rising external and internal security threats as a result of country conflicts and increased warfare situations. Concerns about enhancing soldier survivability are projected to have a positive impact on product expansion.
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Ballistic composites are specially designed materials used in the production of protective gear such as vehicle armor, military helmets, body armor, and so on. Polymers, metals, and polymer-ceramics are examples of ballistic composite materials. Each of these materials is used differently depending on the type of product required. The defense industry is the largest end-user of ballistic composites. Ballistic composites are classified into land, marine, and aviation platforms based on their platforms in the defense sector. Ballistic composites are strong fibers capable of absorbing shock from fires and explosions. For increased strength and stiffness, they are made of layered structural composite materials with a polymer matrix reinforced with para-aramid fibers, glass, and carbon. A large number of products made with ballistic composites are for the land segment. Because of the benefits it provides, the polymer is the primary ballistic composite material. Polymers are stronger and more resistant to temperature and chemical corrosion. Polymers are also more flexible, lightweight, and easy to manipulate than metals. Aside from military applications, ballistic composites are used in products used by homeland security for peacekeeping, dealing with explosives, and dealing with terrorist attacks. However, the high cost of ballistic protection equipment has had an impact on demand for ballistic composite, which is expected to stymie growth throughout the forecast period.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Ballistic Composites Market Size, Share, and COVID-19 Impact Analysis By Matrix Type (Polymer, Polymer-Ceramic, Metal), By Fiber Type (Aramid Fibers, UHMPE, Glass, Others), By Product (Vehicle Armor, Body Armor, Helmet & Face Protection), By Platform (Land, Airborne, Marine), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The polymer segment is expected to grow at the fastest pace in the global ballistic composites market during the forecast period.
The global ballistic composites market is divided into three segments based on matrix type: polymer, polymer-ceramic, and metal. The polymer segment is projected to expand at the highest rate in the global ballistic composites market throughout the forecast period. The increasing acceptance of polymers can be attributed to characteristics such as low weight, high friction, and temperature resistance, which make it a widely used product.
The aramid fibers segment is expected to grow at the fastest pace in the global ballistic composites market during the forecast period.
The global ballistic composites market is segmented by fiber type, which includes aramid fibers, UHMPE, glass, and others. The aramid fibers segment is projected to expand at the highest pace in the global ballistic composites market throughout the forecast period. Because of its superior properties, such as flexibility, strength, durability, stability, lightweight, and resistance to heat, temperature, and moisture, aramid fiber has been used for a variety of purposes in the military and homeland security.
The vehicle armor segment dominated the largest share of the global ballistic composites market in 2022.
The global ballistic composites market is segmented by product into vehicle armor, body armor, helmet & face protection. In 2022, the vehicle armor segment held a major share of the global ballistic composites market. Ballistic composites are utilized in vehicle armor in order to provide high levels of defense against ballistic effects and to protect the lives of military people that travel in vehicles.
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North America dominated the largest revenue share of the global ballistic composites market in 2022.
In 2022, North America held the biggest revenue share of the global ballistic composites market. North America is the leading consumer of ballistic composite due to increasing demand from the United States and other countries. Vehicle armor, body armor, and helmets are among the most common ballistic composite product categories in the North American market.
During the forecast period, Asia Pacific is predicted to expand at the highest rate in the worldwide ballistic composites market. The APAC economy is mostly influenced by the economic dynamics of nations such as China and India, however, the current scenario is changing due to increased foreign direct investment for South East Asia's economic growth. The automobile industry in South East Asian countries is expanding rapidly. Because of safety concerns, there is a growing demand for bulletproof armored cars, which is moving the market ahead internationally.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Ballistic Composites Market include Honeywell International Inc., SOLVAY, BAE Systems plc, Royal Ten Cate N.V., ArmorSource, LLC, Koninklijke DSM N.V., Gurit Holdings, Dupont De Nemours, Inc., Teijin Ltd., Morgan Advanced Materials, Southern States, LLC, and Others.
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Recent Developments
- In July 2022, BAE Systems plc has signed a contract with the US Army to provide operations, maintenance, and management services for The Defense Supercomputing Resource Center (DSRC), as well as program-wide services for high-performance computer (HPC) customers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Ballistic Composites Market based on the below-mentioned segments:
Global Ballistic Composites Market, By Matrix Type
- Polymer
- Polymer-Ceramic
- Metal
Global Ballistic Composites Market, By Fiber Type
- Aramid Fibers
- UHMPE
- Glass
- Others
Global Ballistic Composites Market, By Product
- Vehicle Armor
- Body Armor
- Helmet & Face Protection
Global Ballistic Composites Market, By Platform
- Land
- Airborne
- Marine
Global Ballistic Composites Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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