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Ceramic Armor Market worth $2.6 billion by 2024 | Key players Saint-Gobain, CoorsTek, Koninklijke Ten Cate BV, 3M, CeramTec

01-21-2022 09:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Ceramic Armor Market, Ceramic Armor

Ceramic Armor Market, Ceramic Armor

According to recent market research "Ceramic Armor Market by Material Type (Alumina, Boron Carbide, Silicon Carbide, Ceramic Matrix Composite, Titanium Boride, Aluminium Nitride), Application (Body Armor, Aircraft Armor, Marine Armor, Vehicle Armor), and Region - Global Forecast to 2024", The ceramic armor market size is estimated to grow from USD 1.8 billion in 2019 to USD 2.6 billion by 2024, at a CAGR of 7.8% during the forecast period. The ceramic armor market is witnessing significant growth because of the growing demand from applications such as body armor, vehicle armor, and aircraft armor.

Browse 71 market data Tables and 37 Figures spread through 117 Pages and in-depth TOC on "Ceramic Armor Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/ceramic-armor-market-243047101.html

Body armor is the major application in the ceramic armor market in 2019. North America and Europe are the key markets due to the huge demand for body armors. The vehicle armor application is expected to grow at the fastest rate due to the increasing adoption of ceramic armor in the manufacturing of vehicular components.

North America is expected to dominate the ceramic armor market during the forecast period due to the substantial adoption and manufacturing of products based on ceramic armor technology. The increasing demand from the body armor, vehicle armor, and marine armor industries in North America are also driving the market in the region. In addition, strong support from the governments for ceramic armor and the presence of key manufacturers in the region are expected to drive the market further.

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The ceramic armor market size is estimated to grow from USD 1.8 billion in 2019 to USD 2.6 billion by 2024, at a CAGR of 7.8% between 2019 and 2024. Ceramic armor is made up of ceramic materials, namely, alumina, silicon carbide, and boron carbide. Ceramic armor offers various advantages such as high hardness, low weight, durable, design flexibility, and high resistance to creep & stress rupture. The ceramic armor product is five times stronger and 70% lighter than steel. The ceramic armor can absorb the kinetic energy of the attack caused by a projectile such as shotguns and long guns. This armor offers a high level of protection against the ballistic threat such as bullets and exploding munitions. The ceramic armor is lightweight and offers a high level of convenience in mobility to the warriors wearing them.

The major ceramic armor manufacturers are Saint-Gobain (France), CoorsTek, Inc. (US), Koninklijke Ten Cate BV (Netherlands), 3M Company (US), CeramTec (Germany), ArmorWorks Holdings Inc. (USA), BAE Systems (UK), II-VI Incorporated (US), Morgan Advanced Materials plc (UK), and Safariland, LLC (US), among others. These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. New product launch and partnerships were the dominant strategies adopted by the major players, between 2015 and 2019, which helped them to offer innovative products and broaden their customer base.

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Koninklijke Ten Cate BV (Netherlands) has a prominent presence in the global ceramic armor market. The company has a strong brand image, and it caters to the growing demand for ceramic armor, in major applications. It opted for organic growth strategies through launching new ceramic armor, namely, TenCate Multi-light CXP461lC and TenCate Cratus hard body armor. The company has experts working in a wide range of fields, such as production technology, technical design, and chemical engineering to maintain its comprehensive portfolio of ceramic armor products that have significant growth potential.

CoorsTek, Inc. (US) has secured a strong position in the North American market. It is also establishing its presence in Latin America and MEA and is now focusing on APAC. The company manufactures and develops high-performance components for various industries, such as automotive, defense & security, medical, food & agriculture, energy, chemicals, electronics, and semiconductor. It has a strong focus on R&D and has adopted an inorganic growth strategy by acquiring BLS Textiles (Canada) which provides ballistic vehicle door panels. Additionally, CoorsTek, Inc. is highly engaged in offering customized solutions to customers by utilizing over half of the known elements to ensure high customer value.

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