Ballistic Composites Market Size, Share, Trends, Growth 2032
Ballistic Composites Market By Type (Polymer-Ceramic, Metal Matrix, and Polymer Matrix Composites), By Fiber Type (UHMPE, Aramid Fibers, Glass, and Others), By Application (Vehicle Armor, Body Armor, Helmets & Face Protection, and Others), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 2.00 Billion | USD 3.83 Billion | 7.5% | 2023 |
Ballistic Composites Market Insights
Zion Market Research has published a report on the global Ballistic Composites Market, estimating its value at USD 2.00 Billion in 2023, with projections indicating that it will reach USD 3.83 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.5% over the forecast period 2024-2032.
The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Ballistic Composites industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
Ballistic Composites Market: Overview
Ballistic composites are the raw substances used in myriad defense applications like vehicle armors, vests, and helmets. These materials absorb the impact energy caused as a result of explosives. These products are mainly utilized by defense and law enforcement agencies. Moreover, ballistic composites are fulfilling the demand for protective gear and other advanced defense equipment. Apart from this, massive popularity of lightweight and flexible defense armors that helps in enabling mobility will steer the expansion of ballistic composites industry.
Ballistic Composites Market: Growth Drivers
Surge in spending on defense & military activities due to rising competition between various countries will propel the market trends. Apart from this, escalating requirement for new gadgets & equipment with constant technological breakthroughs will pave a way for the expansion of the ballistic composites industry over the estimated timeframe. In addition to this, beneficial features like outstanding thermal characteristics, high dynamic energy absorption, and high modulus will crop up the expansion of the business in the foreseeable future.
Large-scale usage of the product in army vehicles for offering protection to the personnel in the vehicles for providing safety will prompt the business growth over the forthcoming years. Escalating demand for strong defense force in each country across the globe is anticipated to boost the market size over the ensuing years. Nonetheless, huge costs involved in the purchase of the ballistic protection equipment will impede the product sales over the ensuing years.
Ballistic Composites Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Ballistic Composites Market |
| Market Size in 2023 | USD 2.00 Billion |
| Market Forecast in 2032 | USD 3.83 Billion |
| Growth Rate | CAGR of 7.5% |
| Number of Pages | 110 |
| Key Companies Covered | BAE Systems; MKU Limited; Honeywell International Inc.; DSM; ArmorSource; Royal Ten Cate NV; Dupont; Gurit; Morgan Advanced Materials; FY Composites OY; M Cubed Technologies, Inc.; Teijin; Barrday Corporation; Southern States LLC; Gaffco Ballistics; PRF Composites; and Elmon |
| Segments Covered | By Type, By Fiber Type, By Application And By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America To Account For Major Market Share By 2032
The expansion of the industry in the region over the forecast timeline is due to surge in the budget allocation for defense & military activities along with huge focus on security maintenance in the countries like the U.S. Apart from this, introduction of strict laws by the U.S. government for ensuring safety of the military forces will prompt the regional market growth over the forecast timespan. Furthermore, many of the military programs like armored multipurpose vehicle and joint light tactical vehicle carried out by the U.S. authorities will spearhead the scope of the market in the North American continent over the forecasting period.
Ballistic Composites Market: Competitive Analysis
The global ballistic composites market is led by players like:
- BAE Systems
- MKU Limited
- Honeywell International Inc
- DSM
- ArmorSource
- Royal Ten Cate NV
- Dupont
- Gurit
- Morgan Advanced Materials
- FY Composites OY
- M Cubed Technologies, Inc
- Teijin
- Barrday Corporation
- Southern States LLC
- Gaffco Ballistics
- PRF Composites
- Elmon
The global ballistic composites market is segmented as follows:
By Type
- Polymer-Ceramic
- Polymer Matrix Composites
- Metal Matrix
By Fiber Type
- UHMPE
- Aramid Fibers
- Glass
- Others
- Polymer-Ceramic
- M5
By Application
- Vehicle Armor
- Land Vehicle Armor
- Marine Vehicle Armor
- Air Vehicle Armor
- Body Armor
- Shields
- Body Vests
- Protective Under Garments
- Helmets & Face Protection
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table Of Content
Methodology
FrequentlyAsked Questions
Ballistic composites are sophisticated materials that are engineered to offer protection against ballistic threats, including bullets, shrapnel, and explosive debris. These composites are employed in a diverse array of applications, such as armoured vehicles, personal protective equipment (such as bulletproof garments), and military equipment.
The demand for ballistic composites is driven by the increasing defence budgets and investments in advanced military technology. These materials are indispensable for the creation of armoured vehicles, personal protective equipment, and other defence applications.
Zion Market Research has published a report on the global Ballistic Composites Market, estimating its value at USD 2.00 Billion in 2023, with projections indicating that it will reach USD 3.83 Billion by 2032.
Zion Market Research has published a report on the global Ballistic Composites Market is expected to expand at a compound annual growth rate (CAGR) of 7.5% over the forecast period 2024-2032.
The expansion of the industry in the region over the forecast timeline is due to surge in the budget allocation for defense & military activities along with huge focus on security maintenance in the countries like the U.S. Apart from this, introduction of strict laws by the U.S. government for ensuring safety of the military forces will prompt the regional market growth over the forecast timespan.
Key players influencing the market growth are BAE Systems; MKU Limited; Honeywell International Inc.; DSM; ArmorSource; Royal Ten Cate NV; Dupont; Gurit; Morgan Advanced Materials; FY Composites OY; M Cubed Technologies, Inc.; Teijin; Barrday Corporation; Southern States LLC; Gaffco Ballistics; PRF Composites; and Elmon.
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