DUBLIN--(BUSINESS WIRE )--The "Armor Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global armor materials market reached a value of US$ 11.2 billion in 2021. Looking forward, the market is projected to reach a value of US$ 16.5 billion by 2027, exhibiting a CAGR of 6.20% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Armor materials are specialized protective fabrics that are used for absorbing shocks and minimizing the impact or damage caused by external forces. These materials absorb the impact of bullets by dispersing the energy across the surface. They are manufactured using leather, ceramics, metals, para-aramid fiber, alloy and fiberglass materials.
Armor materials are also produced using ceramics, such as aluminum oxide, boron carbide, titanium boride, silicon carbide, synthetic diamond composite (syndite) and aluminum nitride.
These materials are widely used in bulletproof vests, armors, helmets and vehicles and exhibit high structural strength, fracture and crack resistance and chemical inertness. They are comfortable to wear, lightweight, durable and provide enhanced protection against handguns and sharp-edged weapons.
Significant growth in the military and defense industries is one of the key factors creating a positive outlook for the market. Armor materials are widely used to protect the soldiers on the battlefield during combat and reduce the intensity of bullets and approaching weapons.
Moreover, the widespread product utilization to protect military vehicles from bullets, shrapnel and missiles is favoring the market growth. Various product innovations, such as the launch of lightweight armor materials that are highly sustainable and flexible and provide enhanced protection to the users, are providing a thrust to the market growth.
In line with this, the increasing product demand in the marine industry to protect assets against underwater torpedoes, shellfire and ultraviolet (UV) rays is positively impacting the market growth.
Other factors, including the widespread adoption of ultra-high-molecular-weight polyethylene to manufacture flexible, lightweight and durable bulletproof vests, along with the implementation of various government initiatives to promote soldier modernization strategy, especially in the developing nations, are anticipated to drive the market toward growth.
Key Questions Answered in This Report
The competitive landscape of the industry has also been examined along with the profiles of the key players being
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900