Ballistic composites Market to Grow with a CAGR of 7.63% through 2028
Surge in research and development activities is
expected to drive the Global Ballistic Composites Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Ballistic
composites Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Ballistic Composites Market
is expected to reach USD 1.89 billion by 2028 and is anticipated to grow with a
CAGR of 7.63% in the forecast period, 2023-2028. The initiatives taken by
government based on ballistic composites has led to favorable market conditions
for the Global Ballistic Composites Market. Several factors contribute to the
growth of various ballistic composites products.
Government initiatives have been instrumental in
driving the growth of the ballistic composites market. These initiatives are
specifically designed to encourage research, development, and wider adoption of
ballistic composites across various sectors, including defense and security.
One notable example of such initiatives is the
establishment of compliant products lists by government agencies like the
National Institute of Justice (NIJ) in the United States. These lists serve as
comprehensive guidelines and standards for manufacturers, ensuring the highest
quality and effectiveness of ballistic-resistant body armor certified by the
NIJ.
By implementing these initiatives, governments aim to
enhance the safety and protection of individuals involved in high-risk
professions while also fostering innovation and advancements in the field of
ballistic composites. Such concerted efforts contribute to the overall growth
and development of the market, ensuring that cutting-edge technologies and
materials are readily available to meet the evolving needs of defense and
security applications.
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Ballistic Composites Market”
Extensive research and development efforts have played
a crucial role in advancing the performance of ballistic composites. Through
meticulous testing and experimentation, researchers have not only improved the
design and composition of these composites but have also enhanced their ability
to withstand a wide range of ballistic threats. The continuous pursuit of
innovation and optimization has resulted in composites that exhibit exceptional
durability and resilience, making them highly effective in critical situations.
Furthermore, the relentless dedication to research and
development has enabled the customization of ballistic composites, tailoring
them to specific applications and requirements. This level of adaptability
allows these composites to excel in diverse scenarios, ensuring optimal
performance and protection. Whether it's defense, security, or other
specialized industries, the ability to fine-tune ballistic composites according
to unique needs has revolutionized their utilization and effectiveness.
In addition to the significant advancements in
performance and customization, research and development activities have also
opened up new frontiers for ballistic composites by integrating
multifunctionalities. Researchers are actively exploring ways to incorporate
additional features such as fire resistance, electrical conductivity, or
thermal insulation into these composites. This expansion of capabilities has
broadened the scope of applications, transcending traditional defense and
security sectors. Industries like automotive and construction now recognize the
immense potential of these multifunctional composites, leading to a surge in
demand and unlocking unprecedented opportunities for innovation and
collaboration.
The Global Ballistic Composites Market is segmented
into fibre type, matrix type, application, regional distribution, and company
Based on its matrix type, the Polymer Matrix
Composites segment held the largest share in the market. Polymer matrix
composites (PMCs) are extensively used due to their remarkable features,
including low weight, high friction, and temperature resistance properties.
These properties make them highly suitable for a wide range of applications,
such as protective garments, helmets, and body vests.
Moreover, PMCs have gained attention in the automotive
industry, with many car manufacturers conducting investigations to incorporate
natural fiber polymer composites into their products. This approach aims to
enhance the performance and sustainability of vehicles.
One notable characteristic of PMCs is their ability to
expand slightly when exposed to heat, rather than melting. This unique behavior
further contributes to their suitability in various high-temperature
applications.
Considering their favorable properties, polymer matrix
composites are expected to dominate the market both in terms of value and
volume. They hold a significant share in the ballistic composites market, owing
to the advantages they offer.
In summary, the wide utilization of PMCs, their
ability to withstand extreme conditions, and ongoing research in the automotive
sector contribute to their prominent position in the composites industry.
Based on region, North America segment is expected to
grow during the forecast period. In the dynamic landscape of the defense industry,
experienced players continue to shape the market pace, driving innovation and
growth. The North American market has witnessed rapid expansion due to various
factors. Notably, the military industry's increased expenditure on security
maintenance and the U.S. government's stringent regulations prioritizing the
safety of defense forces have contributed significantly.
Furthermore, the defense sector in North America is
expected to witness a surge in demand, fueled by the introduction of several
military programs. Notable examples include the Joint Light Tactical Vehicle
(JLTV) and the Armored Multipurpose Vehicle (AMPV), both initiated by the U.S.
government. These programs are set to revolutionize combat capabilities and
bolster the defense sector in the region. Looking ahead, the Asia Pacific region is projected to
emerge as the fastest-growing market. Developing countries in the region are
proactively focusing on high-end combat solutions and the development of new
technologies. This emphasis stems from a growing awareness of the crucial role
played by deployed soldiers and vehicles and the need to enhance their safety
and effectiveness.
Major companies operating in Global
Ballistic Composites Market are:
- Barrday Corporation
- Royal DSM NV
- DuPont de Nemours, Inc.
- FY Composites OY
- Gurit Holding AG
- Honeywell International Inc.
- MKU Limited
- Koninklijke Ten Cate BV
- Southern States LLC
- Teijin Limited
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“Growing application of ballistic composites in
various end user industries are key drivers of the ballistic composites market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of ballistic
composites with every passing year are anticipated to register an impressive
growth to Global Ballistic Composites Market in the forecast period.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Ballistic composites Market By
Fibre Type (Aramid Fibres, UHMPE, Glass and Others), By Matrix
Type (Polymer Matrix Composites, Polymer-Ceramic, and Metal Matrix), By
Application (Vehicle Armor, Body Armor, Helmets & Face Protection, Others),
By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Ballistic Composites Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Ballistic
Composites Market.
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