Ballistic Composites Market Size to Reach USD 2.6 Billion by 2030, Says The Brainy Insights
Defense industry is anticipated to dominant the ballistic composites market during the forecast period. Asia-Pacific is anticipated to be one of the most enticing markets during the projection period, accounting for the majority of the market’s revenue share.
Newark, Nov. 23, 2022 (GLOBE NEWSWIRE) — The ballistic composites market was estimated at around USD 1.6 billion in 2021, growing at a CAGR of nearly 5.6% during 2022-2030. The market is projected to reach approximately USD 2.6 billion by 2030.
The basic materials utilized to create law enforcement vests, helmets, and body and vehicle armor are known as ballistic composites. The use of ballistic composites is prohibited for individuals and is primarily limited to law enforcement agencies. The projectile components for rockets, bullets, tanks, and other projectiles also utilize ballistic composites. Compared to ballistic materials, ballistic composites perform better. When compared to ballistic materials, these are also lighter in weight. The demand for personal protection products is growing, which is what is driving the market expansion for ballistic composites. The market for ballistic composites will see further attractive growth prospects as a result of rising defense and military equipment spending intended to enhance the defense sector. The market for ballistic composites will continue to increase as combat weapons and explosives technology advances. Ballistic composite demand will rise as a result of rising need for flexible, lightweight armor that facilitates easy mobility.
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The alarming rise in violent incidents, armed conflicts, and acts of terrorism worldwide is the main factor driving the industry. Additionally, the market is growing as a result of the growing need for military modernization to improve national security. Governments and defense organizations, particularly those of developing countries, are quickly implementing innovative ballistic composites to assist and enhance the survivability of the combat soldiers as a result of the development of next-generation armament systems. In order to increase combat effectiveness against external and overhead machine gunfire and artillery fire, ballistic composites are also frequently utilized on land, sea, and air vehicles. Other growth-promoting elements include a number of product developments, including the creation of the Improved Outer Tactical Vest (IOTV), Deltoid and Auxiliary Protector System (DAPS), Enhanced Small Arms Protective Insert (ESAPI), and Enhanced Side Ballistic Inserts (ESBI). These innovative composites offer improved defense against ballistic threats including gunshots, flying objects, and shrapnel while being lightweight, cozy, and user-friendly.
The market for ballistic composites is anticipated to be driven by the development and adoption of new technologies and goods. In order to be used in personnel protection equipment, multipurpose ballistic materials are being studied at military research institutes. The conductive properties of these materials should make it possible to monitor a soldier’s heart rate. In order to make composite vests lighter, these research facilities are seeking to incorporate antenna communication right into them. Business uses nanotechnology to enhance the ballistic performance of composite materials.
The market for ballistic composites market is segmented into the type, application, and end use. According to the type, the polymer matrix composite segment is expected to increase at the quickest rate. Due to properties like low weight, high friction, and temperature tolerance, polymer is a substance that is frequently used. Polymer matrix composite is used in protective gear such body armor, helmets, and vests. Polymer matrix composites are widely employed because of their low cost and simple fabrication techniques. Most automakers have investigated employing natural fiber polymer composites in their products. When subjected to heat, polymer matrix composites slightly expand as opposed to melting. Polymer matrix composites are expected to dominate the market both in terms of value and volume because of their advantageous qualities. Polymer matrix composites’ beneficial attributes are what give them a considerable market share in ballistic composites.
By application, the vehicle armor segment is expected to grow at the fastest rate during the forecast period. Ballistic composites are used in vehicle armor to offer high-level protection against ballistic impacts and to give excellent safety for the lives of military troops within these vehicles. While wearing protective vests and receiving intense protection, soldiers and security professionals constantly need to move around with ease. These materials are frequently used for the application of vehicle armor because of the high level of safety they offer.
The defense segment is anticipated to hold major share in the automotive air filters market by end use during the forecast period. The main cause of the increase can be attributed to the creation and advancement oftechnology. It is expected that military capability will increase as a result of technological improvements, making it stronger overall. Currently, several nations are concentrating on developing their own defense systems as well as those to exchange with other armies. The main factor propelling the market’s expansion during the forecast period is the rise in military budgets across various countries.
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The biggest market share of the total market was held by the Asia-Pacific in the ballistic composites market. The economy of Asia-Pacific is mostly driven by the economic dynamics of nations like China and India, although the current situation is changing due to an increase in foreign direct investment. South East Asian nations are experiencing rapid expansion in the automotive industry. Safety concerns are fueling an increase in demand for bulletproof armored vehicles, which is expanding the industry globally.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Market Size(unit)||USD Billion|
|Ballistic Composites Market CAGR||5.6%|
|Segments Covered||By Product
By Vehicle Type
By End User
List of the prominent players in the Global Ballistic Composites market:
• BAE Systems
• Gaffco ballistics
• Royal Ten Cate NV
• FY Composites OY
• PRF Composite Materials
• Teijin Limited
• Barrday Corporation
• Honeywell International Inc.
• Morgan Advanced Materials
• Southern States LLC
• MKU Limited
The global Ballistic composites market is segmented as follows:
• Polymer Matrix Composite (PMC)
• Ceramic Matrix Composite (CMC)
• Metal Matrix Composite (MMC)
• Vehicle Armor
• Ballistic Body Armor
• Helmets and Face Protectives
By End use
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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