Ceramic Armor Market Will Value USD 4.74 Billion By 2030 : G...| MENAFN.COM

Monday, 30 January 2023 10:37 GMT

Ceramic Armor Market Will Value USD 4.74 Billion By 2030 : Greyviews


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Pune India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the ceramic armor market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the ceramic armor market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the material, application, platform and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.

The significant players operating in the global ceramic armor market are 3M Technical, Armorworks, Armorstruxx, BAE Systems, Ceramtec, Cerco Corporation, Hard Shell Ltd., CoorsTek Inc., FMS Enterprises Migun Ltd., and II-VI Incorporate. among other. To achieve a substantial market share in the worldwide ceramic armor market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Due to its great compressive strength and hardness, ceramic armour is typically employed in armoured vehicles and personal armour to resist bullet penetration. Soft ballistic vests typically have ceramic plates as inserts. Ceramic armour is a growing industry with various potential in the military and defence sectors. Ceramic armour is widely used to make aircraft armour because it provides a high level of protection against ballistic threats. This is predicted to drive the market for ceramic armour growth throughout the course of the forecast period. There will be fewer fractured sternums, shattered ribs, and collapsing lungs as a result. Ceramic offers a better performance surface for bullets that pierce supersonic armour. Ceramic or trauma plates are used as inserts in soft ballistic vests. Ensuring that a bullet or other weapon is deflected, which happens when the armour material pushes out on the bullet with roughly the same force as the projectile pushes in, is difficult enough to prevent armour from being penetrated. By absorbing the kinetic energy that bullets produce, shotguns and long guns can employ this characteristic to disintegrate projectiles and defend people. Ceramic armour is commonly used in the security and defence industries to create a variety of equipment.

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Scope of Ceramic Armor Market Report

Report Metric Information
Study Period 2022-2030
Base Year 2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Material, Application, Platform and Regions
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players ArmorWorks (U.S.), SAAB AB (Sweden), M Cubed Technologies (U.S.), Olbo & Mehler (Germany), Saint-Gobain S.A. (France), 3M Company (U.S.), II-VI Incorporated (U.S.), Morgan Advanced Materials (UK), and Safariland, LLC (U.S.). among other

Segmentation Analysis

The ceramic metal composite segment is expected to be the fastest-growing segment in 2022.

The material segment is a ceramic metal composite, alumina, boron carbide, SiC, and others. The ceramic metal composite segment is expected to witness the highest growth rate during the forecast period. The demand for more protective materials that are breathable, comfortable, and strong is fueling the rise of the ceramic armour industry. Alumina commanded the ceramic armour sector in terms of revenue in 2021 due to the extensive use of alumina by armour manufacturers. High cost-benefit ratio, high hardness, refractoriness, and elastic modulus are all characteristics of alumina. Boron carbide is often utilised in ceramic plates, which serve as body armour and are employed in armoured helicopters to defend against smaller missiles. Because operations are so important, armour materials must adhere to tight standards. Design and performance criteria are regulated by several regulatory agencies. For instance, the National Institute of Justice in the United States has established requirements for armour performance compliance (NIJ).

The body armor segment is expected to be the fastest-growing segment in 2022.

The application segment is defense armor, body armor, marine armor, and aircraft armor. The body armor segment is expected to witness the highest growth rate during the forecast period. Body armor currently has the greatest market share in the ceramic armour sector and is anticipated to develop at the fastest rate due to the demand for it from homeland security organisations around the world. Because it is lightweight and corrosion-resistant, ceramic armour is used to produce body armor, which increases mobility and facilitates construction. Due of the threat efficacy of modern weapons, more body armour is required. Body armour deflects ballistic strikes and decreases their force by lowering the kinetic energy of the collision. The most lucrative markets are those in the US, China, and Russia. Body armour is increasingly being provided to first responders like firefighters, police officers, and Emergency Medical Service (EMS) employees in the United States and Europe.

The defense segment is expected to be the fastest-growing segment in 2022.

The platform segment is civilians, defense, and homeland security. The defense segment is expected to witness the highest growth rate during the forecast period. The defence sector owns the largest share of the global ceramic armour market due to the material's widespread application in the defence industry for the protection of people, vehicles, and building infrastructure.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the ceramic armor include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

  • The North America region witnessed a major share. Government military programmes like the Extremity Protection programme and Soldier Protection System-Torso for providing full body armour to the armed services are expected to stimulate the growth of the ceramic armour industry in the local market. In 2021, the United States was the top spender on the military. The growth of the ceramic armour business has been aided by the creation and widespread use of body armour in the North American market as well as the high spending on military applications and services.

Country Analysis

  • Germany

Germany's ceramic armor market size was valued at USD 0.17 billion in 2022 and is expected to reach USD 0.33 billion by 2030, at a CAGR of 9% from 2023 to 2030. The German government is expanding its military modernization budget, which is promoting market growth. In accordance with its federal budget forecasts for the years up to 2020, the country anticipates spending USD 43.9 billion on the modernization plan.

  • China

China's ceramic armor market size was valued at USD 0.18 billion in 2022 and is expected to reach USD 0.36 billion by 2030, at a CAGR of 9.2% from 2023 to 2030. According to a budget document that was made public in March 2018, China intends to increase its military spending by 8.1% in order to pay for the modernization of its armed forces. China is also modernising its aviation and air defence units. It is projected that rising consumer demand for durable yet lightweight materials will encourage market growth.

  • India

India's ceramic armor market size was valued at USD 0.14 billion in 2022 and is expected to reach USD 0.28 billion by 2030, at a CAGR of 9.1% from 2023 to 2030. Due to a rise in both cross-border warfare and terrorist activity. Additionally, it is anticipated that the market for ceramic armour in the region would grow in the coming years as a result of the increase in demand for durable and lightweight materials to improve the capabilities of aviation forces and air defence units.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of the ceramic armor market is mainly driven by rise in usage in military sector.

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GreyViews
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