Armor Materials Market

In terms of value, the armor materials market size is projected to reach USD 16.1 billion by 2027 from USD 11.0 billion in 2021, at a CAGR of 6.6%. One of the main factors creating an optimistic outlook for the market is the military and defence sectors' notable expansion. In order to shield soldiers in battle and lessen the force of oncoming weapons and bullets, armor materials are frequently utilised. Also, the extensive use of the product to shield military vehicles from missiles, bullets, and shrapnel is encouraging market expansion. The market is expanding as a result of numerous product advancements, such as the introduction of lightweight armour materials that are highly flexible and sustainable and offer improved protection to users.

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Market Dynamics

Driver: Growing demand for homeland security

The primary driver for the armor materials market is the increasing demand from the defense and security sectors. The need for advanced armor materials to protect soldiers, vehicles, and critical infrastructure from ballistic, explosive, and other types of threats is driving the growth of this market. The rise in geopolitical tensions, particularly in regions such as the Middle East and Asia Pacific, has led to an increased demand for armor materials. Countries are increasing their defense spending and investing in advanced armor solutions to protect against potential threats.

Restraints : Government regulations over production capacity and supply chain

The global consumption of armor materials directly impacts the security system of the country. Thus, the production and consumption of armor materials are subject to strict regulations from the government agencies. This is to fortify and protect the supply & value chain of these materials. In addition, armor materials industry is subject to strict regulations related to safety, performance, and quality standards. Meeting these regulations can be challenging, particularly for small and medium-sized companies, which can limit their ability to enter the market.

Opportunities: Rising military modernization programs

Technological advancements in materials science and engineering are driving the development of new and innovative armor materials. For example, the development of lightweight and high-strength materials such as ceramics, composites, and nanomaterials has revolutionized the armor materials industry. Modernization programs are essential for militaries to maintain their competitive edge, as technological advancements can quickly render older equipment and tactics obsolete. In addition, modernization programs can also improve operational efficiency, reduce costs, and enhance the safety and welfare of military personnel.

Restraints: High cost of lightweight armor materials

Advanced armor materials such as ceramics, composites, and nanomaterials can be expensive to produce, which can limit their adoption in some applications. The high cost of these materials can also make them less competitive compared to traditional armor materials.

Armor Materials Market Ecosystem

Prominent companies in this market include well-established, financially stable armor materials. These businesses have been in business for a while and have a broad range of products, cutting-edge technologies, and robust international sales and marketing networks. Prominent companies in this market include DuPont De Nemours, Inc. (US), Teijin Limited (Japan), 3M Company (US), ATI, Inc. (US), and Honeywell International Inc. (US).

Based on application, vehicle armor is projected to be the largest market for armor materials, in terms of value, during the forecast period.

Vehicle armor is the largest application for armor materials due to the high demand for protection in the defense and security sectors. Vehicles are used extensively in military and law enforcement operations, and protecting these vehicles and their occupants against ballistic, explosive, and other threats is of utmost importance.

Based on materials type, metals & alloys was the largest segment for armor materials market, in terms of value, in 2021.

The metals and alloys segment accounted for largest market share in 2021, owing to growing application of titanium and its alloys in military armor and vehicles, which is expected to drive the market growth. Because of its low density and high corrosion resistance, titanium is used extensively to make lighter vehicles and body armor.

“North America accounted for the largest market share for armor materials market, in terms of value, in 2021”

In terms of value, North America is the largest market for armor materials, followed by Europe. This is due to the rise in demand for homeland security applications and the creation of cutting-edge armor systems and materials for automobiles and aerospace. Also, the Berry Amendment Act in US encourages the use of domestically made goods, such as armor materials (steel, fiber), supporting the expansion of the regional market.

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Key Market Players

The key players profiled in the report include DuPont De Nemours, Inc. (US), Teijin Limited (Japan), 3M Company (US), ATI, Inc. (US), and Honeywell International Inc. (US) among others, are the key manufacturers that secured major market share in the last few years. Major focus was given to the contracts and new product development due to the changing requirements of commercial, homeland security and defense & space users across the world.

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Scope of the Report

This report categorizes the global armor materials market based on material type, application, and region.

On the basis of material type, the armor materials market has been segmented as follows:

• Metals & Alloys
  • High-density steel
  • Aluminum
  • Titanium
  • Ceramics
  • Aluminum Oxide
  • Silicon Carbide
  • Boron Carbide
• Composites
  • Fibers
  • Fabrics
  • Matrix Materials
  • Prepegs
  • Hybrid Composites
  • 3D Composites
• Para-Aramid Fiber
• UHMWPE
• Fiberglass
• Others

On the basis of application, the armor materials market has been segmented as follows:

• Vehicle Armor
• Aerospace Armor
• Body Armor
• Civil Armor
• Marine Armor

On the basis of region, the armor materials market has been segmented as follows:

• Asia Pacific
• North America
• Europe
• Middle East & Arica
• South America

Recent Developments

• In February 2021, Teijin Limited expanded its Teijin Aramid production capacity in the Netherlands. Installing the new equipment was just the latest step in a multi-year program designed to increase both production capacity and sustainability at Teijin Aramid locations.
• In February 2021, DuPont acquired Tex Tech’s Core Matrix Technology, a monolithic fabric structure that would significantly reduce backface trauma. It resulted in enhancing ballistic and fragmentation performance for law enforcement and military personnel.
• In November 2020, Teijin Limited developed high-performance fibers with green raw material. The fibers would be used in diverse applications, including car tires, airfreight containers and protective clothing.

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