Future Market Insights, Inc.’s forecast paints a robust picture for the ballistic protection material market, driven by a potent blend of military might and civilian prudence. Delve deeper into these trends and uncover lucrative opportunities for stakeholders in this ever-evolving market.
NEWARK, Del., Jan. 11, 2024 /PRNewswire/ — The Global Ballistic Protection Material Market value is forecast to increase from US$ 15,330.8 million in 2023 to US$ 31,135.2 million by 2033. Over the assessment period, global ballistic protection material demand is projected to surge at a CAGR of 7.4%.
The market for ballistic protection materials is predicted to expand around 2.0X through 2033. This growth is attributed to increasing cross-border tensions and conflicts in numerous countries.
Request Exclusive Sample Report: Ballistic Protection Material Market Strategic Insights, https://www.futuremarketinsights.com/reports/sample/rep-gb-1033
Demand remains exceptionally high for aramid fibers like Kevlar, owing to their excellent properties, including lightweight and high strength. The target segment is anticipated to register a CAGR of 7.9% during the forecast period.
The expanding defense budgets globally serve as a driving force for the ballistic protection material market. Similarly, increasing the allocation of funds toward enhancing military capabilities propels the demand for advanced armor solutions.
Global civilian safety equipment demand is rising due to growing concerns about threats from terrorists and criminals. This, in turn, is expected to drive growth of the ballistic protection material market.
Civilians are increasingly proactive in protecting themselves, leading to expansion in the market for body armor, helmets, and vehicle armor. This trend signifies a global societal shift towards prioritizing personal safety and security.
The growing need for ballistic protection in the defense sector offers substantial opportunities for market expansion. This is propelled by a surge in defense spending and increasing national conflicts.
A variety of ballistic protection equipment, such as shields, gloves, helmets, protective vests, shoes, and jackets, are employed to enhance defense operations against chemical explosions. Rising products and usage of these equipment are set to uplift demand for ballistic protection materials.
Key Takeaways from the Report
The global market for ballistic protection materials is projected to thrive at a 7.4% CAGR through 2033.
By material type, the aramid fibers segment is expected to total US$ 14,004.1 million by 2033.
North America is expected to account for a significant market share of about 37.7% in 2033.
The United States industry value is anticipated to reach US$ 11,289.8 million by 2033.
China is projected to attain a valuation of US$ 4,880.5 million by 2033.
Demand in India is predicted to rise at 9.3% CAGR through 2033.
“The ballistic protection material industry is poised to rise robustly amid growing geopolitical tensions and the evolving threat of terrorism. Military modernization programs and the imperative for law enforcement agencies to enhance officer safety will also contribute to the increasing demand for ballistic protection materials,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Ballistic Protection Material Industry Research Scope
|
Attribute |
Details |
||
|
Estimated Market Size (2023) |
US$ 15,330.8 million |
||
|
Projected Market Size (2033) |
US$ 31,135.2 million |
||
|
Anticipated Growth Rate (2023 to 2033) |
7.4 % |
||
|
Historical Data |
2018 to 2022 |
||
|
Forecast Period |
2023 to 2033 |
||
|
Quantitative Units |
Value (US$ million) and Volume (million tons) |
||
|
Report Coverage |
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
||
|
Market Segments Covered |
By Material Type: Aramid Fibers By Armor Type: By Application: Body Armor By End-use: Military and Defense By Region: North America |
||
|
Key Countries Covered |
United States
|
BENELUX
|
China
|
Following are the leading manufacturers of ballistic protection materials profiled in the full version of the report.
Honeywell International Inc.
DuPont
TEIJIN Ltd.
Rheinmetall AG
TenCate Protective Fabrics
Kolon Industries Inc.
BAE Systems
Rochling Group
Morgan Advanced Materials Plc.
Beijing Tongyizhong New Material Technology Corporation
Dexcraft
FY-Composites Oy
Final Advanced Materials
ArmorSource LLC
Key players are focusing on developing innovative materials with enhanced features like lightweight and high strength to boost their sales. They also adopt strategies like facility expansions, mergers, collaborations, partnerships, and acquisitions to expand their presence and stay ahead of the competition.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Recent Development-
In October 2023, Dyneema unveiled its next-generation unidirectional (UD) material innovation to enhance the safety and mobility of military forces and law enforcement officers.
More Insights into the Ballistic Protection Material Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global ballistic protection material market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the report is segmented based on material type, armor type, application, end-use, and region.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI’s Extensive Coverage in the Materials and Chemicals Domain:
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact UsNandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Logo – https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg