Global Ballistic Composites Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The market for ballistic composites is expected to register a CAGR of 6.34% during the forecast period (2019-2024). One of the major factors driving the market is the increasing demand from the defense and aerospace industries.
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Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
BAE Systems, Barrday Corporation, Royal DSM NV, DowDuPont, FY Composites OY, Gaffco Ballistics, Gurit Holding AG, Honeywell International Inc., II-VI M Cubed, MKU Limited, PRF Composite Materials, Koninklijke Ten Cate BV, Morgan Advanced Materials, Southern States LLC, Teijin Limited, Waco Composites
The oil and gas industry dominated the market in 2017, and is expected to grow during the forecast period, owing to the increasing oil and gas activities across the world.
– The rise in defense expenditures and budgets of many countries, and the demand for lightweight materials for protection against ballistic threats are likely to act as opportunities in the future.
– North America dominated the market across the world, with the largest consumption from countries, such as the United States and Canada.
Increasing Demand for Vehicle Armors
– Vehicle armors go into ground vehicles, sea vehicles, and helicopters.
– Increasing warfare across the world is increasing the demand for military vehicles required in warships, which is likely to increase the demand for vehicle armor during the forecast period.
– Composite materials have gradually crept into armor systems for naval vessels and land combat vehicles. They have displaced steel, aluminum, and even titanium alloys, partly due to improved ballistic efficiencies similar to the significant advancements in specific strength and stiffness made in structural materials, as well as being lightweight. Composite parts can be part of the primary armor, especially effective against fragmentation, originating from grenades, mortars, artillery, and other explosive devices. Vehicles can use armor laminates of either S-glass or Kevlar fabric.
– Land combat vehicles are protected by armor sufficient to withstand heavy machinegun fire and overhead artillery fire. These vehicles have external armor kits, which include glass fiber reinforced support plates. A strengthened undercarriage protects the personnel inside from mines. Exterior armor design generally includes modular expandable armor system panels, made with ceramic-faced woven aramid, roof interiors consist of molded-woven aramid reinforced composites, and interior sides contain molded, S-fiberglass-reinforced composites.
Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa
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North American Region to Dominate the Market
The North America region dominated the global market share in 2018, due to the growing aerospace and defense industrial activities and the increasing need to bring down the cost, lower carbon dioxide emissions, and fuel consumption. In February 2018, the US government proposed a defense budget of USD 716 billion for FY 2019. The United States was the most significant defense spending nation in 2018, with a spending of USD 647 billion, which shows an increase of 6.07% from that of FY 2017. The United States also struck a major deal with Saudi Arabia for arms deal sales, along with the sale of F-35 combat aircraft. Moreover, the US army announced its plans of spending about USD 1.4 billion on the manufacturing of lightweight tanks project, over the forecast period. Owing to the aforementioned factors, the ballistic composites market in the region is expected to increase at a significant rate, during the forecast period.
Major points covered in this research are:-
- Ballistic Composites Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2024), Competition by Manufacturers
- Global Market Size (Value) of Ballistic Composites (2019-2024)
- Global Ballistic Composites Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)
- Global Ballistic Composites Production, Revenue (Value), Price Trend by Type
- Global Ballistic Composites Market Analysis by Application
- Global Ballistic Composites Manufacturers Profiles/Analysis
- Ballistic Composites Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Global Ballistic Composites Market Forecast (2019-2024)
- Competitive Landscape
- Research Findings and Conclusion
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Finally, this Ballistic Composites report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Ballistic Composites product development and gives an outline of the potential Global market.
Irfan Tamboli (Sales)
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