Ballistic Composites Market is Set to Expand at A CAGR of 8.6%, To Reach USD 3.15 Billion During the Forecast Period 2022 to 2029 | Exclusive Report by Exactitude Consultancy

The significant growth of ballistic composites is attributed to the increasing demand from military and defense applications

United Kingdom


Luton, Bedfordshire, United Kingdom, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Ballistic Composites Market.

According to the latest market research completed and published by Exactitude Consultancy, the market is expected to grow at a CAGR of more than 8.6% over the forecast period from 2022 to 2029. This would grow the market size (USD) from USD 1.5 Billion in 2022 to USD 3.15 Billion in 2029.

The report discusses the market considering the key market players, their brands, the advancements made in the Ballistic composites market, and the result it renders for the safety of the users by its armed forces on a larger scale or personal protection for limited consumers. Other critical aspects of the market considered while writing the report is the increasing defense expenditure in several regional economies, the increasing need for better protection material for newer tactical and ballistic gadgets, and several countries showcasing their power which is expected to help the market to grow.

The demand side growth is attributed to the elements including the rise in the use of arms and the developments associated with required advancements made in the ballistic composites market, rising incidence of protection of people, lightweight material used for the ease of mobility, and highly secure gadgets for ensuring proper protection of the armed troops is expected to develop the need for the composites. While supply side is attributed to the efforts of the key players investing in research and development to offer innovative products and technological advancements that meet the needs of the consumer and the production companies. Furthermore, these composites add advantageous properties such as resistance to heat and corrosion, high thermal conductivity, and durability which is expected to develop the need of this segment in several developing economies.

Live Get a Sample Report of Ballistic Composites Market ->

https://exactitudeconsultancy.com/reports/11513/ballistic-composites-market/#request-a-sample

The report scope and market definition and market segments considered for the study:

The basic materials utilized to create law enforcement vests, helmets, and body and vehicle armor are known as ballistic composites. These are lightweight and have a high level of damage tolerance. The use of ballistic composites is prohibited for individuals and is primarily limited to law enforcement agencies. The projectile components for rockets, bullets, tanks, and other projectiles also utilize ballistic composites. Compared to ballistic materials, ballistic composites perform better. When compared to ballistic materials, these are also lighter in weight.

The demand for personal protection products is growing, which is what is driving the market expansion for ballistic composites. The market for ballistic composites will see further attractive growth prospects as a result of rising defense and military equipment spending intended to enhance the defense sector. The market for ballistic composites will continue to increase as combat weapons and explosives technology advances. Ballistic composite demand will rise as a result of the rising need for flexible, lightweight armor that facilitates easy mobility.

Competitive landscape and companies covered:

Some of the major players in this industry have taken a leadership position while trying to establish their market through innovative marketing strategies. These leading firms focus on expanding by developing new products or partnering with other companies for strategic initiatives that will help them conquer markets they occupied previously and make gains where it matters most- at home (geographic). There are a lot of local players in each of the regions who are trying to penetrate the market which again can be disruptive in low-income economies.

There is almost no difference in the product range for applications in the market. Almost all the top companies offer all the products thus making it much of a marketing and incentive-based market rather than innovation.

Major players operating in the global ballistic composites market include Honeywell International Inc (US), Koninklijke DSM N.V. (Netherlands), BAE Systems (UK), Royal Ten Cate (Netherlands), Morgan Advanced Materials (UK), DuPont de Nemours Inc. (US), Solvay (Belgium), Gurit (Switzerland), Teijin Limited (Japan), PRF Composites, Gaffco Ballistics (US), M Cube Technologies Inc. (US), FY-Composites Oy (Finland), and MKU Limited (India)

Browse Full Premium Report->

https://exactitudeconsultancy.com/reports/11513/ballistic-composites-market/

The research study focuses on the technology or types of tests used for ballistic composites, products used, and the end users along with the key subtypes in each of these categories. The research was conducted to look at the market from the following points and then arrive at the Total Addressable Market (TAM):

  1.  The different fiber types of Ballistic composites are Aramid Fiber, Ultra High Molecular Weight Polyethylene (UHMWPE) Fiber, and S-Glass Fiber, out of which Aramid fiber is the major contributor in the fiber segment. Aramid fiber is utilized for a variety of purposes in military and homeland security because of its exceptional qualities, including strength, flexibility, durability, stability, low weight, and resistance to heat, temperature, and moisture. It is used to create a variety of goods, including face and body armor, body armor for vehicles, and helmets. Because of its lightweight and corrosion resistance, aramid fiber-based ballistics fiber is anticipated to see an increase in demand.
  2.    The different types of matrixes used in the market for the production of ballistics are Polymer Matrix, Polymer-Ceramic Matrix, and Metal Matrix. Polymer-ceramic matrix is the most favored type of matrix due to its features like low weight, high friction, and temperature resistance.

The polymer-ceramic composite is mainly used for the production of protective garments, helmets, and body vests as it cost low and the fabrication method is also simple.

  1.  The products of this market are Vehicle Armor, Body Armor, Helmets & Face Protection, out of which vehicle armor is the major contributor and ensure high-level protection against ballistic impacts and provides high protection to the lives of military personnel in these vehicles. The body armor segment is also growing rapidly due to the protection it provides to armed soldiers, they are supposed to be light in weight for ease of mobility.
  2.   The ballistic composites market has been divided into military, homeland security, and private securities. Military applications have dominated the ballistic composites market. The majority of casualties occur during military engagements as a result of explosion-related fragments. For protection against ballistic threats while on missions, military and homeland security personnel need advanced ballistic protection gear comprised of composites, such as body armor.

Ballistic composites are generally used for the protection of the arms and the production of the armor and body vest, the importance of the composites increases when they are used in the field or any given platform be it marine or airborne. The protection of the soldier, the gadgets and equipment used by them, and the vehicles they drive is the basic trend of the ballistic composite.

Regional Growth Insights:

North America (USA and Canada) accounts for the largest share of the market. The USA keeps leading the market with the highest growth rate in the North American market. The North American region accounted for 45% of the region’s sales value in 2021. The market's pace is being set by seasoned companies in this sector. Another factor contributing to North America's explosive growth is the military sector's increased spending on security and the U.S. government's strict laws, which place a high priority on the safety of the armed services.

The U.S. government has proposed several military programs, including the Joint Light Tactical Vehicle (JLTV) and Armored Multipurpose Vehicle (AMPV), which are projected to increase demand in the North American defense industry.

The Asia Pacific region is expected to grow at a higher CAGR. Growing economies like India and China are stepping into the market and are helping the Asia Pacific region to become a dominant market. Asia-Pacific region’s growth is attributed to the induced focus on high-end combat solutions and new technology development.

The United States is the market's main growth driver since it spends the most on defense. The US market spent almost USD 410 million in 2020 in the composites market. The US makes sizable investments in research and development and has many ballistic composite suppliers which are expected to fuel the market in the future.

Increased defense spending as a result of rising tensions in the South China Sea between China, Taiwan, the Philippines, Vietnam, Malaysia, and Brunei has further fueled the expansion of the ballistic composites industry. Demand for ballistic composites in China has been primarily driven by the focus on advanced combat solutions and new technological development.

Get More Discount on the Ballistic Composites Market ->

https://exactitudeconsultancy.com/reports/11513/ballistic-composites-market/#inquire-for-discount

Key Drivers – The increase in the demand for the arms and the growing range of applications of these composites is driving the market:

Increasing crime and terrorist activities are driving the demand for ballistic bodies and vehicle armor for use by political leaders, businesspeople, bureaucrats, high-profile athletes, entertainment celebrities, and others. As ballistic composite armor is lighter and meets the highest requirements of international standards for safety, there has been a surge in the demand for composite materials in personal protective clothing and transportation. Various companies are focusing on adding composite armor to vehicles designed for civilians in luxury passenger car automakers such as Mercedes Benz and Lexus.

Ground vehicles, maritime vehicles, and helicopters all have armor. To offer high-level protection against ballistic hits and to give excellent safety for the lives of the military people within these vehicles, vehicle armor is fitted with ballistic composites. While wearing protective vests and receiving extensive protection, soldiers and security professionals always need to be able to move around easily. These materials are frequently used for vehicle armor application due to the high level of safety they offer. These composite materials are frequently used in the construction of commercial and industrial structures to protect them from little threats. The demand for military vehicles used in warships is rising due to increased global warfare, and this trend is projected to continue in the years to come.

Challenges in the market:

Identifying how well ballistic composites operate in various combat scenarios is the major issue in their design. Composite panels and armor with a high level of toughness, fracture resistance, and ballistic protection without delamination must be developed by manufacturers. For instance, armored vehicles should be able to withstand missiles, roadside explosives, and shells fired from tanks, while vests must be made to deflect bullets from many sorts of weaponry.

Objectives of the research and the key questions answered:

The research report has been written keeping in mind the following stakeholders: the current companies in the market, the new startups, the local players, investment banks and VCs, ballistic composites organizations, governments, and research personnel.

The key questions answered in the report are:

  1. -      What was the market size of the ballistic composites market before Covid-19 and what is the forecast from 2021 onwards?
  2. -      Who are the key manufacturers in the market and what are their product offerings?
  3. -      Which are the highest-growing countries in the market and their growth rates?
  4. -      What are the key factors driving the market in countries like the USA, Germany, India, China, and other major countries?
  5. -      Which is the highest-growing application for the ballistic composites market in terms of sales?
  6. -      Which type and technique of ballistic composites have the highest market potential?
  7. -      What products and technologies are likely to develop in the ballistic composites market in the future?
  8. -      What are the factors affecting the market growth and restraints?

Related Report:

  1. Armored Vehicles Market by Platform (Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles) Mobility (Tracked, Wheeled) System (Engine, Drive System, Ballistic Armor, Turret Drive, Fire Control System (FCS), Armaments, Ammunition Handling System, Countermeasure System, Command & Control System, Power System) And by Region, Global Trends and Forecast from 2022 to 2029

        https://exactitudeconsultancy.com/reports/4691/armored-vehicles-market/

  1. Fire Control System Market by the system (Target Acquisition & Guidance Systems, Ballistic Computers, Navigation Systems, Power Systems), platform (Land, Airborne, Naval), Weapon class (Automatic guns, launchers) Global Opportunity Analysis and Industry Forecast, 2022–2029

        https://exactitudeconsultancy.com/reports/5083/fire-control-system-market/

  1. Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process (Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process, Other), End-use Industry (Transportation, Aerospace & Defense, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics, Others), and Region (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America), Global trends and forecast from 2022 to 2029

        https://exactitudeconsultancy.com/reports/8920/composites-market/

  1. Construction Repair Composites Market by Fiber Type (Glass, Carbon), Resin Type (Vinyl Easter, Epoxy), Product Type (Fabric, Plate, Rebar, Mesh, Adhesive), Application (Bridge, Water Structure, Silo Flue Pipe, Oil & Natural Gas Pipeline, Industrial Structure, Commercial), and Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa), Global trends and forecast from 2022 to 2029

         https://exactitudeconsultancy.com/reports/7825/construction-repair-composites-market/

  1. Surgical Staplers– upcoming report, please ask for a sample on: sameer.s@exactitudeconsultancy.com
 

Contact Data