Armor Materials Market Size, Share And Forecast To 2030

(MENAFN- Straits Research) Introduction

Body armor is protective clothing that can deflect or absorb the impact of bullets or other weapons used against its user. The armor soldiers wore in battle was painstakingly and frequently intricately crafted until recently. Thanks to modern technology, lighter protective materials have been developed, and they are currently being fashioned into various outfits suitable for the dangers of modern warfare. Armor protects against any projectile or other weapon impact when worn as protective equipment. Body armor that is both lightweight and bulletproof is frequently constructed from modern ceramics. Bullets are absorbed by armor composed of advanced fibers, which disperse the impact's energy over a large area. Expanding composite materials in mobile military equipment, such as tanks and large ships, will stimulate market expansion.

Market Dynamics Growing Usage of Lightweight Materials and Concerns from Government Over Safety to Drive the Global Armor Materials Market

It is anticipated that the increasing popularity of lightweight armor materials, such as aluminum alloys and composite armor materials, will drive the expansion of the armor materials market during the analyzed time frame. Aluminum alloys or ceramics, such as aluminum oxide and silicon carbide, are commonly used for ballistic protection. It has a high degree of strength because powerful covalent bonds bind together the light atoms. In addition, ceramic armor is suitable for military applications due to its high stiffness and strength-to-weight ratios. These qualities make it easier for troops and vehicles to maneuver quickly. These factors increase the value of expanding the market for armor materials.

Governments' heightened concern for national security is the primary reason for the increased demand for armor-making materials. Due to increased internal conflicts and hostilities with its neighbors, more emphasis has been placed on developing the defense and military sectors. Emerging nations aggressively invest in the defense and army sectors to protect law enforcement and military personnel. This contributes to the expansion of the armor material market .

Compared to ceramic and other metals, the properties of newly developed metal armor plates, such as the alloy steel-based ATI K12-MIL, offer superior protection. Unlike conventional ceramic armor systems, ATI K12-MIL can withstand multiple ballistic impacts due to its high toughness and non-brittleness, making it an ideal choice for protecting large tanks and vehicles. In addition, ATI K12-MIL demonstrates superior corrosion resistance in comparison to conventional steel. Due to these cutting-edge advancements, the armor materials industry will be presented with enticing opportunities.

Regional Insights

North America will likely command the regional market while expanding at a CAGR of 5.17%. The market for armor materials in North America is populated by well-known producers like Dupont, Honeywell Inc., and 3M. In addition, the government's substantial spending on defense-related operations is anticipated to stimulate market growth. North America holds the largest market share, attributed to the increasing demand for homeland security applications and the development of innovative armor materials and systems for automobiles and aircraft.

In addition, the Berry Amendment Act of the United States encourages the use of domestically produced goods, such as armor materials (steel, fiber), thereby promoting the growth of the regional market. The armor materials market expansion is anticipated to be driven by the growing significance of lightweight vehicles in warfare and the government's growing concern for national security. Research and development on titanium and aluminum alloys for protection against significant ballistic strikes will drive up expenditures in the armor materials market.

According to a report by the American Ceramic Society, the U.S. government and its agencies purchase body armor, missile nose cones, and military helicopters from 3M Co., which accounts for one-third of its armor materials market. The industry will continue to expand as long as there is a steady demand for metals and alloys for large military vehicles. Aluminum alloys have supplanted traditional steel alloys in constructing both heavy and light military vehicles. Aluminum with a lower density range provides greater mobility and maneuverability in urban warfare. Furthermore, fewer aircraft can transport more lightweight vehicles to the battlefield.

The Asia Pacific is predicted to hold USD 4,547 million, growing at a CAGR of 7%. Due to its high military and defense spending, China has a sizeable market share for armor materials. The expansion of the market for armor materials can be attributed to the rise in terrorist attacks and regional hostilities. The Asia-Pacific market for armor materials is anticipated to grow substantially due to increased military operations. In addition, upgrading military programs in countries such as China, Japan, and South Korea is expected to increase demand for vehicle and aerospace armor materials. However, a small number of Asia-Pacific nations may be constrained by high production costs and a limited defense budget.

It is anticipated that the Chinese People's Liberation Army will have a high demand for body armor, particularly bulletproof vests, which will drive market demand. According to a report by BodyArmorNews, the Chinese military is expected to acquire 1,4 million pieces of body armor worth $1.85 billion in the coming years. In addition to confrontations with neighboring nations, such as Taiwan, and American provocations, the armory, and defense industry face a growing security threat. In addition, China accounts for approximately 70% of the global market for body armor, accelerating market growth.

Key Highlights

• The global armor materials market had a revenue holding of USD 11,423 million in 2021. It is expected to reach USD 18,495 million by 2030, growing at a CAGR of 5.5% during the forecast period (2022-2030).
  
• Based on the material type, the composites segment is forecasted to hold the largest share, expanding at a CAGR of 6.91%.
• Based on the application, the vehicle section is forecasted to hold the largest market share, growing at a CAGR of 4.8%.
• Based on regional analysis, North America will likely command the regional market while expanding at a CAGR of 5.17%.