Armor Materials Market Trends, Top Companies, Share, Growth And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Armor Materials Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/armor-materials-global-market-report

Market Drivers and Trends:

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.

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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=10590&type=smp

Major Key Players of the Market:

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.

Armor Materials Market 2024 Key Insights:

• The armor materials market will grow to $16.87 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Rise In Terrorist Threats To Drive Market Growth
• Product Innovations Transforming The Armor Materials Market
• North America was the largest region in the armor materials market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=10590&type=smp

Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.