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Armor materials market is predicted to cross USD 15.7 billion by 2027 and witnessing a CAGR of 5.3% from 2020 to 2027, According to the report published by Allied Market Research. The report offers an extensive analysis of changing market trends, top winning strategies, key segments, business performance, and competitive scenario.The report provides a detailed analysis of the global armor materials market based on material type, application, and region.
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Based on material type, the metal & alloys segment accounted for the highest share in 2019, holding nearly two-fifths of the global market share, and is estimated to maintain its dominant share during the forecast period. However, the composites segment would witness the highest CAGR 6.7% from 2020 to 2027.
Leading players of the global armor materials market profiled in the report include DuPont, Honeywell International Inc., DSM, 3M, Saint-Gobain, SAAB AB, KONINKLIJKE TEN CATE BV., and ATI.
Rise in application of lightweight materials, surge in number of warfare activities, and increase in concern from government over safety have boosted the growth of the global armor materials market. However, limited application of multi-layered composite material and high cost hamper the market. On the contrary, advancements in armor material plates are expected to create lucrative opportunities for the market players in the future.
By application, the vehicles segment held the largest share in 2019, contributing to around two-fifths of the global armor material market, owing to growing application of lightweight aluminum alloys in military vehicles such as personnel carriers. However, the body segment is expected to portray the highest CAGR of 6.5% during the forecast period, due to increase in application for Kevlar fabrics and Dyneema fabrics in armor vests.
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Based on region, North America contributed to the highest share in 2019, contributing to more than half of the total market share, and is estimated to continue its dominance during the forecast period. However, Asia-Pacific is projected to witness the fastest CAGR of 6.8% from 2020 to 2027.
Key offerings of the report:
• Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
• Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
• Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
• Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
• Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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Organization: Allied Market Research
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