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Rising political unrest, instability, and incidences of terrorism worldwide have prompted military and law enforcement forces and the materials science community to develop effective solutions to ensure security, increasing the need for advanced armours. Domestic conflicts in many countries have been boosting the market for ammunition to ensure national security. This is driving the demand for protective equipment. The increasing adoption of new technologies and modernization of the defence sector in developed and developing economies is also propelling the growth of the global market. The growing need for protective gears to protect from advanced weapons and ammunitions is also expected to boost the growth of the global market over the forecast period. The development of cost-effective, lightweight armour can create higher revenue opportunities for players in the target market. Growing preference for lightweight armour materials such as Kevlar aramid fibres and ceramics materials over conventional steel metal alloys will further enhance the market growth. The growth of the global market can also be attributed to the increasing demand for vehicle, marine, and aircraft protection applications.
Several companies are involved in developing materials used in body armours. The companies compete aggressively to produce the lightest and most robust materials possible for mergers, acquisitions, and partnerships. For instance, in January 2020, Avon Rubber (LON: AVON), the U.K. based military technology provider, announced their acquisition of 3M Company (NYSE: MMM). This will give them an edge in body armour, ballistic helmets, flat armour, and related helmet-attachment products.
Market Analysis by Material Type, Application, and Regions:
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The major players in the global armour materials industry are DuPont de Nemours, Inc., Koninklijke DSM N.V., Honeywell International Inc, Compagnie de Saint-Gobain S.A., and the 3M Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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