Armor Materials Market – Global Upcoming Demand & Growth Analysis 2021-2031 | Du Pont, Honeywell International Inc., Saint-Gobain SA

Posted on 2021-03-04 by Future Market Insights, Inc in Chemicals // 0 Comments

Armor materials are used as protective covering, especially designed to prevent damage to inner surface of object to be protected from any external force or damage. Generally, armor materials are used in military purpose mainly during war and combats. Body armor are common type of armored system, wore by army men during the wars. These are intended to prevent damage from any projectile damage by incoming bullets and other ballistics objects. Similarly, armored vehicle, invisible to damage by bullets can easily sustain heavy damages in extreme combat situation. Thus, military application are key hotspots for armor materials. Global armor materials market is thus anticipated to witness heavy growth with a higher single digit CAGR during forecast period. Furthermore, demand for armor materials would be continuous for high powers in defense systems such as Russia and US, due to continuous investment in strengthening defense system.

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Armor Materials Market: Dynamics

Terrorism around the world has led to an increasing number of workforce in defense activities. For incorporating proper defense and security of people, government bodies have improved spending in strengthening ammunition system. For this purpose, several countries have been investing in design and manufacturing of giant military equipment such as battle tanks and submarines, which raised demand for armor materials during its construction and fabrication. Thus, to eradicate global issue of terrorism, military services are funded by government, which involves funding and financial supports to all players involved in providing these military equipment. However, global consumption of armor materials are considered sensitive, as it directly effects the security system of a country. Therefore, the production and consumption of armor materials are subjected to strict regulations form government agencies to fortify and protect the supply & value chain for materials.

Segmentation Analysis of Armor Materials Market

The global armor materials market is bifurcated into four major segments: product type, protection type, application and region.

On the basis of product type, Armor Materials market has been segmented as follows:

Metals & Alloys
- Armor Steel
- Aluminum
- Titanium
- Others
Ceramic and Composite
- Fabrics
- Matrix Materials
- Hybrid Composites
- 3d Composites
Para-aramid Fiber
Fiberglass
Others

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On the basis of protection type, Armor Materials market has been segmented as follows:

Airborne Ballistics
Blasts & Explosion

On the basis of application, Armor Materials market is segmented as

Aerospace
Battle tanks
Body Armor
Civil Armor
Marine Armor
Military Application
Sentry Boxes
Submarines
Vehicle Armor
Others

On the basis of geographic regions, Armor Materials market is segmented as

North America
Europe
Latin America
East Asia
South Asia
Oceania
Middle East & Africa

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Armor Materials Market: Key Players

Key players in global armor materials market included are Du Pont, Honeywell International Inc., Saint-Gobain SA, Allegheny Technologies Incorporated, Saab AB, Morgan Advanced Materials, Tata Steel Limited, ArcelorMittal and others

Global armor materials market is slightly fragmented in nature with different players having strong presence in regional market. Also, manufacturers of different product of armor materials are having different regional share. For instance, armor steel market is dominated by players such as SSAB, while for composite and other products other players such as Morgan and DuPont have high market share.

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