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Ceramic armor Market 2019 Explored in Resent Research Update

07-02-2021 02:21 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: AllTheResearch

Growth in the security concerns across the globe, increase in demand for homeland security, and rise in development of lethal ammunition and weapons are expected to drive the growth of the ceramic armor market. The global ceramic armor market was valued at USD 1,645.9 million in 2018 and is expected to reach USD 2,867.7 million in 2026, growing at a CAGR of 7.1% during the forecast period.

Ceramic armor is widely adopted and incorporated in the defense and security sectors. It is called a soft ballistic vest. It is a lightweight material used for preventing high-velocity projectiles and have a high quality of durability and performance. Most of the ceramic plates used in body armor provides the National Institute of Justice Type III protection and prevent rifle bullets to enter the body of the personnel.

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The increase in demand for lowest weight and most cost-effective solution for defeat a specified threat in the military and defense applications such as body armor, aircraft armor, marine armor, and vehicle armor. The increase in spending for safety from the developed countries and developing countries such as the US, the UK, China, India, Russia, and France among others. This increase in spending is expected to massively increase in the demand for ceramic armor in the global market. Ceramic plates are primarily issued and sanctioned by the US military are called Enhanced Small Arms Protective Inserts (ESAPI). The global defense industry are creating demand for the high production of for lighter armor systems and awareness propelling the growth in military modernization programs are expected to create demand and sales opportunities for the ceramic armor manufacturers in the global market in the coming years.

However, there is continuous fluctuation in the raw material prices and limited availability of pure form of raw materials for the manufacturing of ceramic armor are expected to slow down the growth of the market in the coming years.

Key Findings:

Based on product, the alumina of ceramic armor accounted for approximately 35% of the share in the global ceramic armor market in 2018.
Based on application, the body armor segment accounts of the largest share in the market and expected to grow at a CAGR of around 8.5% during the forecast period.
North America accounted for nearly 48% share of the global ceramic armor market in 2018.
Recent News:

In November 2017, Koninklijke Ten Cate BV revealed body armor plate system, TenCate Multi-light CXP461lC, which can resist different threat levels. The developed new product is 25% lighter than the currently marketed plates.
In October 2017, Koninklijke Ten Cate BV launched the TenCate Cratus hard body armor for the application of military, law enforcement, and federal agency requirements
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