Ballistic Protection Materials Market to Grow at Approximately a CAGR of 6% to Be Valued at US$ 21 Billion From 2022 to 2032 | Future Market Insights, Inc.

Published Via 11Press : NEWARK, Del: The worldwide ballistic protection materials market is projected to amass a revenue of US$ 21 billion by 2032, driven by a positive CAGR of 6% from 2022 to 2032. The ballistic protection materials market was valued at US$ 11.80 billion in 2022 and is driven by a surge in demand for technologically sophisticated equipment along with greater research efforts to produce lightweight armor.

The increasing demand for aramid, which possesses characteristics such as flexibility, strong resistance, and lightweight, makes it an ideal material for shooting protection of boundary troops. Twaron, Kevlar, and Nomex are the most popular aramid products and are utilized in the production of tactical vests, body armor, helmets, and vehicle armor.

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During the projected timeframe, the global market for ballistic protection is anticipated to experience notable growth due to escalating political instability and social unrest, as well as an uptick in occurrences of terrorism and Naxalite movements worldwide. Previously, fabrics like woven silk were utilized for ballistic protection, but currently, high-modulus fibers composed of aliphatic nylon 6, 6 are preferred due to their higher degree of crystallinity. The efficacy of a material's ballistic protection is determined by its ability to efficiently absorb energy and transfer the acquired energy locally at a high speed. As a result, the demand for ballistic protection is on the rise due to all of these factors.

Governments' growing awareness of the need to enhance active and passive safety measures to withstand terrorist attacks and protect their paramilitary forces, military, and citizens is predicted to fuel market growth. The market is also receiving a boost from significant efforts to reduce the weight of ballistic protection equipment globally.

Additionally, the heightened priority given by nations to national security and safety is contributing to the rise in demand for ballistic protection equipment, which is driving the market's growth. The defense sector's increasing demand for ballistic protection is expected to create lucrative opportunities for market growth, as defense spending rises and national conflicts escalate. To protect against chemical explosions, the defense industry employs several ballistic protection equipment such as gloves, protective vests and jackets, helmets, shields, and shoes, which ultimately drives market demand.

Key Takeaways:

• Implementation of strict regulations regarding the emission of volatile organic compounds (VOCs) will stymie the growth of the ballistic protection materials market.
• Asia Pacific will emerge as an opportunistic pocket for the ballistic protection materials market due to greater military spending across the region.
• The ballistic protection materials market in North America will account for a revenue of US$ 600 million by 2032, driven by increasing demand for security and safety.

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Competitive Landscape 

FY-Composites Oy, BAE Systems, Koninklijke Ten Cate nv., DuPont, Morgan Advanced Materials plc, ArmorSource LLC, TEIJIN LIMITED, Ceradyne, Inc., and Rheinmetall AG,  among others, are a few of the eminent players in the ballistic protection materials market profiled in the full version of the report.

Leading market players are focusing on increasing investment in research and development efforts to produce novel and sophisticated products while also improving manufacturing capacity. These businesses also employ various organic and inorganic growth strategies to gain a competitive edge. 

More Insights Into Ballistic Protection Materials Market

Providing an unbiased and honest assessment, FMI presents an analysis of the worldwide ballistic protection materials market, including historical data from 2015 to 2020 and forecasted statistics spanning 2022 to 2032. The report encompasses an examination of market drivers, opportunities, challenges, and trends. To ascertain the potential, growth, and extent of the global market, it is segmented based on product group (polyethylene-based, aramid-based (aromatic amide)), armor type (soft, hard), applications (body armor, helmets, face protection, vehicle armor, others), end-user (defense, homeland security, commercial use), and region.

According to FMI estimations, based on segmentation, aramid-based ballistic protection materials will gain rapid popularity during the assessment period. This segment will contribute substantially to the overall growth of the market. In terms of end-use, the defense sector will dominate the global marketplace. Based on region, the ballistic protection materials market in Asia Pacific will perform remarkably well in the upcoming years. This region will emerge as a highly remunerative pocket for the market owing to high defense spending by countries across the region. In addition, elevated demand for security will propel the ballistic protection materials market forward in North America. Hence, North America and Asia Pacific will fuel the overall growth of the ballistic protection materials market.

Key Segments Profiled in the Industry Survey

Product Group:

• Polyethylene-based
• Aramid-based (Aromatic Amide)

Armor Type:

• Soft
• Hard

Application:

• Body Armor
• Helmets
• Face Protection
• Vehicle Armor
• Other Applications

End User:

• Defense
• Homeland Security
• Commercial Use

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Japan
• Middle East & Africa

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