Ballistic Composites Market to offer a healthy CAGR of 7.6% during 2020-25
February 13, 2020
Ballistic Composites Market Overview:
Ballistic composites market is likely to witness an impressive CAGR of 7.6% during the forecast period. The growing demand for ballistic composites in personal safety owing to their high strength and lightweight properties drives the ballistic composites market globally.
Report Overview:
This new report from Stratview Research analyses the Ballistic Composites Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Ballistic Composites Market Segment Insights:
Dominance Of: Aramid Fiber
Based on the fiber type, the market is segmented as aramid fiber, UHMPE fiber, glass fiber, and others. The aramid fiber segment held the largest share of the market in 2018, and is expected to remain dominant during the forecast period owing to its extensive use in the helmets, shields, and vest protection applications.
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https://www.stratviewresearch.com/toc/643/ballistic-composites-market.html
Dominance of: Polymer Matrix and Vehicle Armor
Based on the matrix type, the market is segmented as polymer matrix, polymer-ceramic, and metal matrix. The polymer matrix segment is expected to remain dominant during the forecast period owing to its exceptional properties such as lightweight, temperature-resistant, low friction and high durability. Polymer matrix are extensively used in applications such as helmets and body vests.
Based on the application type, the ballistic composites market is segmented as vehicle armor, body armor, helmets & face protection, and others. The vehicle armor segment leads the market as there is an enormous need to protect the vehicles from missiles, bullets, grenades and other ammunitions. Further, the lightweight property of composite materials in the military vehicles leads to better fuel efficiency and ease in mobility.
A highly/moderately/fragment consolidated Market
Some of the major ballistic composite manufacturers are Honeywell International Inc., BAE Systems plc, Koninklijke Ten Cate bv, Koninklijke DSM N.V., E. I. du Pont de Nemours and Company, Morgan Advanced Materials, Southern States, LLC, Barrday Corporation, PRF Composite Materials, and Gaffco Ballistics Inc.
Regional Hegemony of North America
In terms of regions, North America is estimated to lead the ballistic composites market during the forecast period. The USA is the growth engine of the region’s market owing to the world’s largest defense spending, significant investment towards research and development, and presence of a large number of ballistic composite suppliers. Asia-Pacific is expected to witness the highest growth during the forecast period owing to increasing defense budget, offset policies in countries such as India, rising tension among the countries in the region, and growing demand for advanced materials for body and vehicle armor.
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