Ceramic Armor Market is projected to reach $3.5 billion by 2027 Globally, at a CAGR of 8.6%, says MarketsandMarkets™

Ceramic Armor Market is projected to reach $3.5 billion by 2027 Globally, at a CAGR of 8.6%, says MarketsandMarkets™

Written by Customer Service on . Posted in Dividend Reports And Estimates.

Chicago, Nov. 04, 2022 (GLOBE NEWSWIRE) — The global “Ceramic Armor Market size is projected to grow from USD 2.3 billion in 2022 to USD 3.5 billion by 2027, at a CAGR of 8.6%, during the forecast period, as per the recent study by MarketsandMarkets™. The high growth of the ceramic armor market can be attributed to its substantial demand from the body and vehicle armor applications. Increasing threats from asymmetric warfare, regional conflicts, riots, and terrorism are creating the demand for protective clothing and safe vehicles for safeguarding armed forces, especially in disputed regions across the globe.

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Browse in-depth TOC on “Ceramic Armor Market”

210 – Market Data Tables
45 – Figures
198 – Pages

List of Key Players in Ceramic Armor Market:

  1. BAE Systems plc (UK)
  2. Koninklijke DSM N.V. (Netherlands)
  3. Morgan Advanced Materials (UK)
  4. Saint-Gobain (France)
  5. CoorsTek, Inc. (US)
  6. 3M Company (US)
  7. CeramTec (Germany)

Drivers, Restraints, Opportunities and Challenges in Ceramic Armor Market:

  1. Driver: Security concerns in developing regions
  2. Restraint: Complexity of ceramic armor design
  3. Opportunity: Need for more lightweight armor systems
  4. Challenge: Development of durable ceramic armor as per threats

Key Findings of the Study:

  1. Silicon Carbide ceramic armor comprises a major share of the ceramic armor market in terms of value and volume.
  2. Body armor product type led the global ballistic composites market in terms of value and volume
  3. North America is expected to account for the largest market share in the ceramic armor market during the forecast period.

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Silicon Carbide ceramic armor comprises a major share of the ceramic armor market in terms of value and volume.

Silicon carbide is one of the key ceramic materials for producing ceramic armor. Silicon carbide is extensively used in armor for protection against larger projectiles. The high demand for body armor that provides higher defense and lower weight has increased the market for silicon carbide market globally. Silicon carbide ceramic material is the most preferred material for defending rifle bullets because of its high strength and hardness. The material is less expensive and offers higher mechanical properties.

Body armor product type led the global ballistic composites market in terms of value and volume

Ceramic armor are significantly utilized for the manufacturing of vehicle armors as these armors provide a high-level of protection against ballistic threats. Moreover, the use of ceramic armor in the manufacturing of vehicle armor provides them with lightweight, high-strength and corrosion resistance properties, which helps in easy maneuverability and ease of maintenance of vehicle armors. The demand for vehicle armor is expected to be driven by several military programs, such as the HMMWV Modernized Expanded Capacity Vehicle (MECV), the Joint Light Tactical Vehicle (JLTV) – and a replacement for the M113 Armored Personnel Carrier, and the Ground Combat Vehicle (GCV).

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North America is expected to account for the largest market share in the ceramic armor market during the forecast period.

North America is the largest market for ceramic armor. The major international players are exploring opportunities in the region owing to raw materials, and high demand from various end-use industries. Demand of ceramic armor in North America is growing due to the rising demand from military and law-enforcement sectors and heavy spending on research and military programs. The presence of a large number of ceramic armor manufacturers makes the region the most promising market for ceramic armors.

The key players in the market include BAE Systems plc (UK), Koninklijke DSM N.V. (Netherlands), Morgan Advanced Materials (UK), Saint-Gobain (France), CoorsTek, Inc. (US), 3M Company (US), and CeramTec (Germany), among many others. These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composites market. These players have taken different organic and inorganic developmental strategies over the past five years.

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