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Global Armour Materials Market to Reach USD 15.1 Million by 2027, Aided by the Increasing Security Concerns

According to a new report by EMR titled, ‘Global Armour Materials Market Report and Forecast 2022-2027’, the global armour materials industry reached a value of about USD 10.9 million in 2021. The industry is further expected to grow at a CAGR of about 5.52% in the forecast period of 2022-2027 to reach a value of around USD 15.1 million by 2027.

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:

  • The material types in the market are ceramics, composites, para-aramid fibres, ultra-high-molecular-weight polyethylene, and fibreglass, among others.
  • The leading applications of the market are vehicles, aerospace, and body, among others.
  • The regional markets for armour materials include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Key Findings of the Report:

  • Various governments' rising investments in military and defense warfare are likely to augment the market over the forecast period.
  • Growing spending on defence to improve military vehicle performance to prevent an external attack is poised to be one of the primary growth stimulants for the industry.
  • Rapid technological advancements and innovative products are among the major trends that will help the business grow in the next years.
  • The increased budget is expected to spike the growth of the armour materials market in various regions.

Key Offerings of the report:

  • The EMR report gives an overview of the global armour materials market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for material type, applications, and major regions of armour materials. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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