Armour Steel Plate Market

Armour Steel Plate Market Outlook (2024 to 2034)

The global armour steel plate market size has been projected to reach US$ 2.1 billion by the end of 2034, up from a value of US$ 1.45 billion in 2024. A CAGR of 3.8% has been forecasted by Fact.MR for this market from 2024 to 2034.

Armour steel plates serve as protective shields in safety suits. They are usually crafted from a mix of ceramics and bullet-resistant materials. These plates are commonly found in bullet-resistant vests, offering extra protection against bullets from rifles and pistols.

Demand for these armour plates has risen in recent years due to an increase in territorial conflicts worldwide. The growing need for protective shields among civilians has opened up several opportunities in the industry. Demand for armour steel plates for civilian use is linked to a rise in crimes, burglaries, home invasions, and similar incidents.

• Citizen Armor, a United States-based company, manufactures protection equipment and provides ballistic plates for civilians.

Steel plates have an edge over ceramic ones as they offer protection against multiple hits.

• For instance, in 2023, TenCate Protective, a leading provider of geosynthetics and industrial fabrics, launched a thinner level III armour ballistic plate. This body armour highlights TenCate Protective’s advanced heat stress reduction and proprietary trauma reduction technology by making thinner plates effective against rifle ammunition.

Growing number of soldier casualties and severe injuries due to the rise in terrorism and hostile activities globally necessitates ballistic protection suits to protect armed forces. The increase in asymmetric warfare activities and global cross-border tensions is prompting many governments to initiate modernization programs to enhance soldiers’ survivability. These programs involve procuring modern protection equipment and shields for the armed forces. The armour steel plate market is currently experiencing a steady global expansion alongside the ballistic composites market and more.

Report Attributes	Details
Armour Steel Plate Market Size (2024E)	US$ 1.45 Billion
Projected Market Value (2034F)	US$ 2.1 Billion
Global Market Growth Rate (2024 to 2034)	3.8% CAGR
China Market Value (2034F)	US$ 296 Million
Canada Market Growth Rate (2024 to 2034)	1.9% CAGR
North America Market Share (2024E)	21.6%
East Asia Market Value (2034F)	US$ 516.6 Million
Key Companies Profiled	Algoma Astralloy Masteel BAE Systems Hellweg International Shah Alloys Ceradyne Inc. Safariland, LLC

What are the Key Drivers Behind Rising Demand for Armour Steel Plates?

“Rising Geopolitical Tensions and Conflicts across the World”

Benefits of steel such as its superior strength at high temperatures and oxidation resistance when quenched are contributing to demand for armour steel plates. The heat treatment process enhances the hardness, elasticity, ductility, and toughness of steel.

Demand for armour steel plates is primarily driven by the increasing need for safety and protection in various sectors. In the military sector, armour steel plates are essential for manufacturing armoured vehicles, body armour, and other protective structures due to their high strength and ballistic resistance. The rise in geopolitical tensions and conflicts worldwide has led to increased defence budgets, thereby boosting the demand for armour steel plates. In the civilian sector, these plates are used in security doors, safe rooms, and bank vaults where robust and impenetrable materials are required.

What is the Scope of Application for Armour Steel Plates in the Defense Sector?

“Emphasis on Modernization of Battlefield Operations Driving Use of Armour Steel Plates”

Steel is widely utilized in the production of military vehicles and weaponry, including the F-35, F-18, C-17, and other advanced military vehicles. It is also employed in the fabrication of various components of ammunition, missile parts & batteries, tanks, and more.

The global defence sector has been experiencing consistent growth. Armed forces worldwide are harnessing the power of digitalization and creating network-centric defence ecosystems to enhance readiness and modernize battlefield operations. These factors are paving the way for substantial growth opportunities in the market.

Armour steel plates play a significant role in the defence sector, offering enhanced protection and safety for military personnel and equipment. They are primarily used in the manufacturing of armoured vehicles, body armour, and protective shelters due to their high strength and ballistic resistance.

Country-wise Insights

Fact.MR, a market research and competitive intelligence provider, through its newly published analysis, asserts that East Asia is projected to hold 24.6% share of the global market by 2034. Manufacturers of armour steel plates are forging alliances with emerging and successful companies around the globe to solidify their presence in the market and secure a dominant share.

Which Factors are Influencing the Market in the United States?

“Defense Enhancement Programs Driving Armour Steel Plate Sales”

Attribute	United States
Segment Value (2024E)	US$ 224 Million
Growth Rate (2024 to 2034)	1.9% CAGR
Projected Value (2034F)	US$ 270.1 Million

The United States accounts for 71.7% of the armour steel plate market share in North America. The market in the United States is influenced by factors such as defence funding at the federal level, the increased risk of terrorist attacks, and the need to enhance national security. The United States has many defence enhancement programs that are projected to provide a multitude of opportunities for manufacturers of armour steel plates during the forecasted period.

• For example, major armour plate manufacturers such as ArcelorMittal, Cliffs Natural Resources, and Nucor have filed a petition in the United States to limit the use of imported armour steel. In response to this, the United States Defense Department has implemented a rule that mandates the use of domestically produced steel armour plates for the United States military.

There is no justification for countries such as China and Russia to produce the steel used in the United States military vehicles and equipment. As a result, limited supply coupled with the increasing defence expenditure in the United States is driving the demand for armour steel plates across the country.

Which Strategies are Driving Market Growth in China?

“Focus on Building Highly Durable and Lightweight Armour Steel Plates”

Attribute	China
Segment Value (2024E)	US$ 183.5 Million
Growth Rate (2024 to 2034)	4.9% CAGR
Projected Value (2034F)	US$ 296 Million

China has emerged as one of the leading manufacturers of armoured vehicles by significantly contributing to the regional market growth. The development of lightweight and highly durable armour materials that provide enhanced protection is a major focus area for manufacturers.

Advancements in manufacturing technologies such as 3D printing and nanotechnology and a focus on customization are key armour steel plate market trends. Armour steel plate manufacturers have developed a wide range of specifications for their current products by enabling end users to select the perfect specification of armour plate best suited for their application. These strategies are forecasted to drive armour steel plate market growth in China.

Category-wise Insights

What Driving Demand for Airborne Ballistic Systems in Countries Prioritizing Defense Spending?

“Efforts Targeted at Enhancement of Military Capabilities and Armament Innovation”

Attribute	Airborne Ballistic
Segment Value (2024E)	US$ 444 Million
Growth Rate (2024 to 2034)	3.8% CAGR
Projected Value (2034F)	US$ 646.8 Million

Countries are increasingly investing in the enhancement of their military capabilities through the acquisition of sophisticated weaponry. The focus on airborne ballistic systems is intensifying as cutting-edge technologies enable these weapons to strike at extended ranges and be controlled from afar.

This advancement not only allows for the engagement and neutralization of adversaries in aerial combat but also drives the demand for airborne ballistic missiles and related systems. The production of such ballistic systems heavily relies on the use of armour steel plates. As a result, the growing investments in military growth and the creation of state-of-the-art armaments are propelling the market demand for these materials.

Why is There Increasing Use of Armour Steel Plates in Bulletproof Vehicles?

“Increased Terrorist Threats and Risks to Prominent Figures”

Attribute	Bulletproof Vehicles
Segment Value (2024E)	US$ 65.1 Million
Growth Rate (2024 to 2034)	3.6% CAGR
Projected Value (2034F)	US$ 92.4 Million

Due to terrorist threats and heightened risks to prominent figures and political leaders, armoured vehicles have become crucial for security purposes. Governments across the globe are channelling funds into the defence sector to enhance the security of their officials and military staff. High-profile individuals such as celebrities and the wealthy are increasingly choosing armoured vehicles for their personal safety. In nations where civilians are authorized to own firearms, there is a substantial market for these secure vehicles, presenting significant expansion prospects for manufacturers.

Competitive Landscape

Market growth is being driven by several factors, including evolving consumer preferences, technological advancements, and global economic conditions. Key players in the armour steel plate market are Algoma, Astralloy, Masteel, BAE Systems, Hellweg International, Shah Alloys, Ceradyne Inc., and Safariland, LLC.

• In 2023, the United Kingdom Ministry of Defense granted a contract valued at US$ 48 million to BAE Systems for the development of the Striker II Digital Helmet-Mounted Display, designed for Typhoon fighter pilots. This advanced helmet represents a significant upgrade, transitioning to a fully digital interface from the previously used Striker model.

Key Segments of Armour Steel Plate Market Research

• By Protection Type :

  • Airborne Ballistic Systems
  • Blast & Explosion

• By Application :

  • Battle Tanks
  • Bulletproof Vehicles
  • Bulletproof Jackets
  • Cash-in-Transit Trucks
  • Security Booths
  • Sentry Boxes
  • Submarines

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa