Global Armour Material Market is expected to grow at a significant
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.
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Driving
factors responsible for 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.
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.
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