Armor material is used to make protective gear that absorb or deflect attack done by any type of projectile. Increasing demand for advanced armor in defense sector and modernization of law enforcement agencies are factors driving the growth of the global armor materials market. However, high cost of armor materials and government regulation on armors are factors expected to hamper growth of the target armor materials market in the near future.
The global armor materials market report has been segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into ceramics, para-aramid fiber, ultra-high-molecular-weight polyethylene (UHMWPE, UHMW), fiberglass, metals & alloys, and others. Ceramic segment dominates the global market in terms of revenue and expected to maintain its position over the forecast period, owing to increasing demand of lightweight armors for vehicles and aerospace armor purposes. Metal and alloy segment is expected to witness a robust growth in terms of revenue in the near future, owing to its use in vehicle armor and less cost of material. On the basis of application, the market is segmented into body armor, civil armor, marine armor, aerospace armor, and vehicle armor. Vehicle armor segment expected to witness lucrative growth in terms of revenue over the forecast period, due to increasing adoption of armor vehicles in defense sector.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate the global market in terms of revenue over the forecast period, owing to presence of major manufacturing companies in this region. The market in Asia Pacific is expected to witness fastest growth in terms of revenue, owing to increasing military budgets of many countries in the region such as China, India, and South Korea.
Key players operating in the global armor materials market include E. I. du Pont de Nemours and Company, DSM NV, Honeywell International Inc., Compagnie de Saint-Gobain S.A., Allegheny Technologies Incorporated, Ceradyne, Inc., Alcoa Inc., Royal Ten Cate NV, Saab AB, and CoorsTek, Inc.