Global Armor Materials Market – Segmented by Type, Application, and Region – Growth, Trends, and Forecasts (2017 - 2022)
The global armor materials market was valued at USD XX million in 2016 and is projected to register an estimated CAGR of XX%, during 2017-2022 (the forecast period). The demand for armor materials is driven by the development of advanced weapons and ammunitions.
An armor is a shield used to prevent damage to an individual, vehicle, or an object by weapons. Armors are used widely across applications that include aerospace, body armors as shields, civil armors, marine armors, and vehicle armors. However, factors such as the high production costs and government restrictions may restrain the market from growing at a greater pace.
The major driver for the armor materials market is the development of advanced weapons. Moreover, the rising concerns for homeland security are expected to boost the market growth. Armor materials are used extensively in a variety of applications that include aerospace, body armor, civil armor, marine armor, and vehicle armor. The application of armor material in the vehicle, civil, and body armor applications hold a large share. The global armor materials market is segmented on the basis of type into metals & alloys, ceramic & composites, para-aramid fibers, ultra-high-molecular-weight polyethylene, and others such as fiber glass, etc. Metals & alloys-based armor materials hold the largest market share by type in the global armor materials.
AREAS WITH SCOPE FOR ARMOR MATERIALS
North America accounted for the largest market size (in USD million), in terms of consumption. The market is expected to register an estimated CAGR of XX.00% during 2017-2022 (the forecast period), which is the highest among regions such as North America, Asia-Pacific, Europe, South America, and Middle East & Africa. The increasing defense budgets and the threat of terrorism in countries of Asia-Pacific are expected to provide an opportunity to the armor material market.Why Purchase Our Global Armor materials Market Report?
Know about: the latest regulations and policies regarding armor materials Analyzing various market perspectives with the help of porter’s five forces analysis Which application of armor material will dominate the market Which of the regions will witness the fastest growth during the forecast period Identify the latest developments, market shares, and strategies employed by the major market players, such as: 3M Ceradyne Company ATI Metals Safeguard Armor DuPont Royal Tencate NV