Honeywell International Inc. (U.S.), Royal Ten Cate NV (Netherlands), BAE Systems (U.K.), DSM (Netherlands), Gurit (Switzerland) are the Renowned Players in Ballistic Composites Market - Report by MarketsandMarkets™

According to recent research "Ballistic Composites Market by Fiber Type (Aramid, UHMWPE, S-Glass), Matrix Type (Polymer, Polymer-Ceramic, Metal), Application (Vehicle Armor, Body Armor, Helmet & Face Protection), and Region - Global Forecast to 2021", published by MarketsandMarkets™, The ballistic composites market is projected to reach USD 1.80 Billion by 2021, growing at a CAGR of 7.12%, from 2016 to 2021. The rising demand for ballistic composites in personal protection due to its light weight and high strength properties is the major driver for the growth of the ballistic composites market.

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Agreements, New Product Launches, Expansions, Mergers, and Acquisitions are the key development strategies adopted by the leading market players to drive the global ballistic composites market

Ballistic composites are gaining high acceptance in the military and defense industry, and are majorly used in applications such as vehicle armor, body armor, and helmets and face protection, among others. Ballistic composites offer high level protection against ballistic threats such as attacks of bullets, missiles, and bombs, among others. The advantageous properties of ballistic composites such as being light weight, provides convenience in the mobility of soldiers and high strength, which is majorly driving the market for these composites. In terms of value, the ballistic composites market is projected to reach USD 1.80 billion by 2021, at a CAGR of 7.12% from 2016 to 2021.

The key players in the ballistic composites market adopted growth strategies such as expansions, new product launches, agreements, mergers and acquisitions to strengthen their positions in the market. For instance, in June 2016, Morgan Advanced Materials (U.K.) adopted the new product developments strategy and launched its ballistic composite helmet to cater to the defense sector.

The major growth strategies adopted by the key players in the ballistic composites market are agreements and new product launches. The leading players in the ballistic composites market majorly adopted the agreements strategy and enhanced their network of customers from the military and defense industry. The new product launches growth strategy helped players to fortify their positions as innovators in the ballistic composites market.

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The growing demand for light weight and high performance materials in the defense application is enhancing the growth of the ballistic composites market globally

Asia-Pacific is the fastest-growing region in the ballistic composites market. This growth can be attributed to the increase in military spending due to high regional tensions and disputes over territories in this region. Also, the Asia-Pacific has been identified as a major export market for armor. The governments of major countries in this region are signing contracts with western nations for technology transfer and collaborations in the defense sector, which is expected to drive the ballistic composites market in this region.

The U.S. leads the ballistic composites market in North America as well as globally due to the highest concentration of ballistic composites manufacturers in the country. In the U.S., ballistic composites consumption has increased significantly in military aircraft and next-generation aircraft. Ballistic composites usage is growing due to the increased demand for ballistic composites for spall-liners, rocket nozzles, and nose caps from advanced fighter aircraft models. Also, companies in the ballistic composites market are focusing on new product developments. For instance, Hardwire LLC (U.S.) has developed and validated a vehicle blast protection system with Dyneema HB26 and HB50 UHMWPE fiber. The crucial aspect of this blast protection system is the Structural Blast Chimney (SBC) that is expected to protect passengers of light military vehicles from Improvised Explosive Devices (IEDs).

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The major players profiled in the ballistic composites report are Honeywell International Inc. (U.S.), Royal Ten Cate NV (Netherlands), BAE Systems (U.K.), DSM (Netherlands), Gurit (Switzerland), DuPont (U.S.), Teijin (Japan), Morgan Advanced Materials (U.K.), CoorsTek Inc.(U.S.), Southern States LLC (U.S.), Barrday Corporation (Canada), Solvay (Belgium), and 3M (U.S.), among others. These companies have wider product portfolios to cater to the growing demand from the ballistic composites market. For instance, BAE Systems (U.K.) provides composite helmets that offer excellent protection to soldiers against ballistic threats.

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