Armour Steel Plate Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

Published on : Mar-2020 | List of Tables : 70 | List of Figures : 100 | No. of Pages : 170 | Report Code : FACT4659MR |

Backed by Military Modernization Programs, Amour Steel Plate to Showcase Amplified Demand Growth

Being a high profit-margin market, armour steel plate is set to present enormous opportunities for the market players over the assessment period. Armour steel plates protect objects i-e bulletproof vehicles and other equipment from projectile damage or pressure during civil war. Manufacturers involved in armour steel plate market are primarily catering to demand from military applications. Armour steel plate is predominantly utilized in construction and production of high performance armour tanks, vehicles and submarines used in defence applications. Thus, amplified funding and investments in advanced and high-performance defence equipment is set to boost global armour steel plate market which is foreseen to grow at a moderate rate of around 4% during forecast period of 2019 to 2029.

Bulletproof Vehicles to Remain High on Demand, with 40% of Overall Market Share

Global armour steel plate market is forecast to witness absolute opportunity of around US$ 500 Mn during the forecast period. Of all applications, bulletproof vehicles nearly account for 40% of total absolute opportunity created during forecast period. Army battle tanks close in, in terms of armour steel plate consumption. Growing political turbulence, uncertainty and occurrences of terrorism worldwide, have encouraged military & law enforcement forces to develop operative solutions that ensure proper security of people. Thus, for incorporating proper defence and security measures, government bodies have boosted their country`s ammunition system, which in turn increases the demand for armour tanks and bulletproof vehicles.

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National Security Agencies to Keep Eye on Consumption of Armour Steel Plate

Global consumption of steel armour plates is considered sensitive, as it directly impacts the security system of a country. Therefore, the production and consumption of armour steel plates are regulated by government agencies to fortify and protect the supply & value chain for armour steel plates. Regulations enforced are meant to regulate supply and demand for armour steel plates to other countries or foreign agencies, the safety of the production technology, and import from other countries.

Europe & North America Reign Supreme, Market in Asia to Reflect High Growth  

Amongst all regions, Europe accounts for largest production of armour steel plate followed by North America as it currently has a large fleet of army vehicles and battle tanks. Russia & US collectively account for more than 600-kilo tons of armour steel plate demand. These countries are largest manufacturers and suppliers of military equipment and vehicles such as battle tanks, & bulletproof vehicles in world. Furthermore, countries from Asia such as China & India also have higher armour steel consumption rate, thus, offering lucrative opportunities for manufacturers to invest in the region.

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Manufacturers Working In Collaboration with Federal Defence Agencies to Achieve Long-Term Customer Loyalty

Prominent players with established market presence in global armour steel plate market are ArcelorMittal S.A., SSAB AB, Thyssenkrupp AG, Astralloy (Nucor) and Evraz. Other players which emerged in last one decade with strong presence in regional market includes Bisalloy Steel Group, Shah Alloys Ltd., Essar Steel India Private Limited, CMC Impact Metals and SIJ Acroni. Global armour steel market is fairly fragmented, with top five to six players accounting for around 40% market share. Growth in global armour steel plate market is highly dependent on sales of equipment or services used in defence applications such as tanks and bulletproof vehicles. Thus active market players have been investing in federal defence systems to get long term supply contracts for armour steel plate.

 Market players have targeted emerging regions and deepened their roots with long term supply contracts. Key strategy however remains to secure contracts from federal governments to supply armour steel plates for demanding applications such as battle tanks and submarines. For instance, Bisalloy has secured multiple supply contracts from federal governments of Israel, South Africa and Thailand. In addition players such as Arcelormittal, Nucor and SSAB are largest suppliers of armour steel plate to United States Defence Force. However, Suppliers of armour steel plates to US defence forces are barred from selling materials to other companies or countries without getting approved permission from the government. 

Armour Steel Plate Market- Scope of the Report

The recent study by Fact.MR on armour steel plate market offers a 10-year forecast between 2019 and 2029. The study analyzes crucial trends that are currently determining the growth of armour steel plate market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of armour steel plate. The study also provides dynamics that are responsible for influencing the future status of the armour steel plate market over the forecast period.

A detailed assessment of armour steel plate value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the armour steel plate market along with their product portfolio enhances the reliability of this comprehensive research study.

Armour Steel Plate Market: Report Summary

The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in armour steel plate market across the globe.

A comprehensive estimate on armour steel plate market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of armour steel plate during the forecast period. Price point comparison by region with global average price is also considered in the study.

 Armour Steel Plate Market Segmentation

Fact.MR has studied the armour steel plate market with detailed segmentation on the basis of product type, application and key regions.

Protection Type



Airborne Ballistics

Battle tanks

Latin America

Blasts & Explosion

Bulletproof Vehicles

North America


Bullet  Proof Jacket

East Asia


Cash-in transit truck

Middle East & Africa


Security Booths



Sentry Boxes

South Asia & Oceania






“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Armour Steel Plate Market: Analysis on Market Size Evaluation

Armour steel plate market has been analyzed for each market segment, in terms of volume (KT) and value (US$ Mn).

Market estimates at global and regional levels for armour steel plate is available in terms of “US$ Mn” for value and in “KT” for volume. A Y-o-Y growth contrast on prominent armour steel plate market segments, along with the market attractiveness evaluation has been incorporated in the report. Furthermore, the absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve along with identifying potential resources, considering sales and distribution perspective in the global armour steel plate market.

Armour Steel Plate Market: Inspected Assessment on Regional Segments

Key sections have been elaborated in the armour steel plate report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of armour steel plate market during the forecast period.

Country-specific valuation on demand for armour steel plate has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

Armour Steel Plate Market: In-Depth Analysis on Competitive Landscape

The report sheds light on the leading manufacturers of the armour steel plate along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of the armour steel plate, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis on each player. The company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in armour steel plate market. Prominent companies operating in the global armour steel plate market, include Algoma, Arcelormittal, Astralloy, Bisalloy, Champak Steel & Engg. Co., Chapel Steel, CMC Impact Metals and Essar Steel India Limited

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Armour Steel Plate Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029