2024 Armor Materials Market Report : Market Size, Growth Drivers, And Key Trends | DuPont de Nemours Inc., Honeywell International Inc., 3M Company, Saab AB

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The Business Research Company offers in-depth market insights through Armor Materials Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The armor materials market size has grown strongly in recent years. It will grow from $12.3 billion in 2023 to $13.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to military conflict and warfare, focus on soldier safety, regulatory standards and requirements, strategic geopolitical shifts, protection for vehicles and equipment.

The armor materials market size is expected to see strong growth in the next few years. It will grow to $16.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing defense expenditure, rising security threats, focus on soldier protection, shift towards urban warfare, military modernization programs. Major trends in the forecast period include r&d in material science, sustainability and environmental impact, integration of sensor technologies, evolving threat landscape, adoption of additive manufacturing.

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Market Segmentation:
The armor materials market covered in this report is segmented -

1) By Material Type: Metals And Alloys, Composites, Para-Aramid Fiber, UHMWPE (Ultra-High-Molecular-Weight Polyethylene), Fiberglass, Other Materials
2) By Product Type: Vest, Helmets, Other Products
3) By Protection: Level II, Level IIA, Level III, Level IIIA, Level IV
4) By Application: Vehicle Armor, Aerospace Armor, Body Armor, Civil Armor, Marine Armor
5) By End-User: Defense, Law Enforcement And Security Personnel, Civilians

Major Driver - Rise In Terrorist Threats To Drive Market Growth
The increasing terrorist threat is expected to boost the growth of the armor material market going forward. A terrorist threat refers to an act of violence that would put others in danger while showing a blatant disdain for the harm it would do. High-strength armor materials are used to shield wearers from projectiles like knives, shell fragments, and bullets during terrorist attacks or other critical situations. Hence, the increasing terrorist threat will increase the demand for the armor material market. For instance, according to a report published by The Center for Strategic and International Studies (CSIS), a US-based non-profit organization, the number of terrorist acts and conspiracies in the United States increased from 2% in 2019 to 47% in 2020 and 53% in 2021. Further, 43% of all attacks in 2021's domestic terrorism were directed toward the government, armed forces, and law enforcement. Therefore, the increasing terrorist threat is driving the growth of the armor material market.

Competitive Landscape:
Major companies operating in the armor materials market report are DuPont de Nemours Inc., Honeywell International Inc., 3M Company, Saab AB, Compagnie de Saint-Gobain S.A., Teijin Aramid B.V., Koninklijke Ten Cate BV., CeramTec GmbH, CoorsTek Inc., Morgan Advanced Materials plc, The Safariland Group LLC, PPG Industries Inc., NP Aerospace Ltd., Ballistic Body Armour Ltd., Pacific Safety Products Inc., ATI CeramTec GmbH, Ceradyne Inc., Allegheny Technologies Incorporated, AGY Holding Corp., White Horse Research and Development Inc., Megiddo Global LLC, Hard Shell U.S., ArmorCo Advanced Armoring Products Inc., Tata Steel Ltd., Armorup LP, Tex Tech Industries Inc., SAE Manufacturing Specialties Corp., SafeGuard Armor Ltd., Schunk Carbon Technology LLC, Aloca Inc.

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Top Trend - Product Innovations Transforming The Armor Materials Market
Product innovation is the key trend gaining popularity in the armor materials market. Major companies operating in the armor materials market are focusing on developing new products. For instance, in April 2023, DuPont, a US-based provider of technology-based materials and solutions, launched Kevlar EXO, a next-generation aramid fiber. Kevlar EXO's unique feature makes it stand out from other aramid fibers in ballistic performance without sacrificing weight. This quality makes it possible to create the best-in-class, lightest-weight ballistics soft armor solutions currently on the market. It has an innate resistance to heat and flame, which won't melt or ignite up to 500 °C (932 °F). It is the most significant advancement in aramid fiber and a brand-new technological platform created to support many applications where protection and performance are necessary under complex and demanding circumstances.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Armor Materials Market Characteristics
3. Armor Materials Market Trends And Strategies
4. Armor Materials Market - Macro Economic Scenario
5. Armor Materials Market Size And Growth
…..
27. Armor Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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