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Ballistic Composites Market worth $3.57 billion by 2030, growing at a CAGR of 8.12% - Exclusive Report by 360iResearch
Ballistic Composites Market | 360iResearch
The Global Ballistic Composites Market to grow from USD 2.06 billion in 2023 to USD 3.57 billion by 2030, at a CAGR of 8.12%.
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Ballistic composites are used in various military applications, including police jackets, helmets, and body and vehicle armor. Ballistic composite materials absorb the impact energy generated by explosives which are used to develop security systems that are both effective and lighter in weight. The demand for ballistic composites is increasing with the need for protective equipment and vehicle armor solutions. The market expansion is aided by rising demand for lightweight, flexible armor for greater mobility for military personnel. The different regulatory compliances are the significant factors that are inhibiting market growth. The military sector is increasing the defense budgets and investing in producing various ballistic composites, supporting product advancements in the ballistic composites market.
The ballistic composites market is highly developing in the Americas owing to the high demand for vehicle and body armor solutions from the U.S. and other countries due to rising border conflicts and geopolitical tensions. As per the Stockholm International Peace Research Institute (SIPRI), in 2020, military expenditure was an average of 1.5% of the GDP of American countries. In the EMEA region, continuous advancement and development have increased the demand for ballistic composites in defense areas. The primary drivers of market expansion in the Asia-Pacific area are the growing demand for high-tech materials for body and vehicle armor, rising defense spending, and offset policies in emerging economies. In addition, the major investments by the Asian economies, including China, India, Japan, South Korea, Singapore, and Australia, towards border security and surveillance have significantly increased the demand for ballistic composites in past years.
Market Segmentation & Coverage:
This research report categorizes the Ballistic Composites Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Fiber, market is studied across Aramid Fiber, Glass, Hybrid Thermoplastic Composites, and Ultra-High-Molecular-Weight Polyethylene. The Aramid Fiber commanded largest market share of 33.62% in 2023, followed by Glass.
Based on Matrix, market is studied across Metal Matrix, Polymer Matrix Composite, and Polymer-Ceramic. The Polymer Matrix Composite commanded largest market share of 43.02% in 2023, followed by Polymer-Ceramic.
Based on Application, market is studied across Body Armor, Helmets & Face Protection, and Vehicle Armor. The Body Armor is further studied across Body Vest, Protective Under Garment, and Shield. The Vehicle Armor is further studied across Air Vehicle Armor, Land Vehicle Armor, and Marine Vehicle Armor. The Vehicle Armor commanded largest market share of 46.25% in 2023, followed by Body Armor.
Based on End-Use, market is studied across Airborne, Land, and Marine. The Land commanded largest market share of 41.68% in 2023, followed by Marine.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.89% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Ballistic Composites Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Ballistic Composites Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Ballistic Composites Market, highlighting leading vendors and their innovative profiles. These include Adept Armor, Avient Corporation, Beijing Protech New Material Science Co., Ltd., Composites One LLC, CoorsTek, Inc., CS Composites Solutions Sdn Bhd, CTech-LLC, Dana Safety Supply, Defence Composites Ltd., Dexcraft, DuPont de Nemours, Inc., Final Advanced Materials, FY-Composites Oy, GAB Neumann GmbH, Gaffco, Inc., Gurit Holding AG, Honeywell International Inc., JPS Composite Materials, Kolon Industries, Inc., Koninklijke Ten Cate BV, Krempel GmbH, MKU Limited, Permali Gloucester Ltd., Plastic Reinforcement Fabrics Ltd., RMA Group Co., Ltd., Röchling SE & Co. KG, Solvay S.A., Southern States, LLC, Teijin limited, Venture Ballistic Composites, Veplas Group, and Zhejiang Mengtex Special Materials Technology Co., Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Ballistic Composites Market, by Fiber
7. Ballistic Composites Market, by Matrix
8. Ballistic Composites Market, by Application
9. Ballistic Composites Market, by End-Use
10. Americas Ballistic Composites Market
11. Asia-Pacific Ballistic Composites Market
12. Europe, Middle East & Africa Ballistic Composites Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Ballistic Composites Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Ballistic Composites Market?
3. What is the competitive strategic window for opportunities in the Ballistic Composites Market?
4. What are the technology trends and regulatory frameworks in the Ballistic Composites Market?
5. What is the market share of the leading vendors in the Ballistic Composites Market?
6. What modes and strategic moves are considered suitable for entering the Ballistic Composites Market?
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