Armor Materials Market: an Overview
Armor materials are used as protective covering, especially designed to prevent damage to inner surface of object to be protected from any external force or damage. Generally, armor materials are used in military purpose mainly during war and combats. Body armor are common type of armored system, wore by army men during the wars. These are intended to prevent damage from any projectile damage by incoming bullets and other ballistics objects. Similarly, armored vehicle, invisible to damage by bullets can easily sustain heavy damages in extreme combat situation. Thus, military application are key hotspots for armor materials. Global armor materials market is thus anticipated to witness heavy growth with a higher single digit CAGR during forecast period. Furthermore, demand for armor materials would be continuous for high powers in defense systems such as Russia and US, due to continuous investment in strengthening defense system.
Armor Materials Market: Dynamics
Terrorism around the world has led to an increasing number of workforce in defense activities. For incorporating proper defense and security of people, government bodies have improved spending in strengthening ammunition system. For this purpose, several countries have been investing in design and manufacturing of giant military equipment such as battle tanks and submarines, which raised demand for armor materials during its construction and fabrication. Thus, to eradicate global issue of terrorism, military services are funded by government, which involves funding and financial supports to all players involved in providing these military equipment. However, global consumption of armor materials are considered sensitive, as it directly effects the security system of a country. Therefore, the production and consumption of armor materials are subjected to strict regulations form government agencies to fortify and protect the supply & value chain for materials.
Segmentation Analysis of Armor Materials Market
The global armor materials market is bifurcated into four major segments: product type, protection type, application and region.
On the basis of product type, Armor Materials market has been segmented as follows:
- Metals & Alloys
- Armor Steel
- Ceramic and Composite
- Matrix Materials
- Hybrid Composites
- 3d Composites
- Para-aramid Fiber
On the basis of protection type, Armor Materials market has been segmented as follows:
- Airborne Ballistics
- Blasts & Explosion
On the basis of application, Armor Materials market is segmented as
- Battle tanks
- Body Armor
- Civil Armor
- Marine Armor
- Military Application
- Sentry Boxes
- Vehicle Armor
On the basis of geographic regions, Armor Materials market is segmented as
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Armor Materials Market: Regional Outlook
From regional perspective, Europe has been dominating the demand pie for the consumption of armor materials. North America region just ranks behind Europe in terms of demand for armor materials. United States, Russia, Germany and Italy are amongst the largest consumers of armor materials globally. These countries have been identified as having large fleet of army vehicles, battle tanks and submarines which has been demanding continuous supply of armor materials.
Rising homeland security worries due to terrorism have led to construction of newer army vehicles and body armors during war. Countries like US and Russia are also amongst the largest military spending nation globally. Thus have high spending in the purchase of armor materials required in securing strong defense system. Furthermore, countries from Asia such as India & China also have been amongst the fastest growing in armor materials market. Annual consumption rate in these countries have been increased in last one decade, due to military modernization, thus, offer lucrative opportunities for manufacturers to invest in the region.
Armor Materials Market: Key Players
Key players in global armor materials market included are Du Pont, Honeywell International Inc., Saint-Gobain SA, Allegheny Technologies Incorporated, Saab AB, Morgan Advanced Materials, Tata Steel Limited, ArcelorMittal and others
Global armor materials market is slightly fragmented in nature with different players having strong presence in regional market. Also, manufacturers of different product of armor materials are having different regional share. For instance, armor steel market is dominated by players such as SSAB, while for composite and other products other players such as Morgan and DuPont have high market share.
The research report presents a comprehensive assessment of the Armor Materials market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Armor Materials Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Armor Materials Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic)
- Eastern Europe (Russia, Poland & CIS)
- East Asia (China, Japan, South Korea)
- South Asia (India, Malaysia, Indonesia, & Thailand)
- Oceania (Australia & New Zealand)
- Middle East & Africa (GCC Countries, South Africa, Turkey)
The Armor Materials report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Armor Materials report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Armor Materials report also maps the qualitative impact of various market factors on market segments and geographies.
The Armor Materials Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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