Ballistic Composites Market Will Reach USD 1773.6 Million By 2028 With A CAGR of 4.0% | Valuates Reports

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Oct 07, 2022, 13:00 ET

BANGALORE, India, Oct. 7, 2022 /PRNewswire/ -- The global Ballistic Composites market is segmented by Type - Aramid, UHMWPE, Glass, Others, by Application - Vehicle Armor, Body Armor, Helmets & Face Protection, Others. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Plastics & Polymers Category.

Due to the COVID-19 pandemic, the global Ballistic Composites market size is estimated to be worth USD 1401.7 million in 2022 and is forecast to a readjusted size of USD 1773.6 million by 2028 with a CAGR of 4.0% during the forecast period 2022-2028.

Major Factors Driving The Growth Of The Ballistic Composites Market are

Due to increased demand from the military and law enforcement sectors, the ballistic composites industry is expanding.

Ballistic Composites are becoming more popular for personal protection. However, the enormous demand for high-performance materials is what is driving up the market for ballistic composites.

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TRENDS INFLUENCING THE BALLISTIC COMPOSITES MARKET

The expanding external and internal security concerns brought on by international conflicts and the escalating nature of warfare are likely to propel the worldwide ballistic Composites market to sustained expansion throughout the forecast period. Growing concerns about enhancing military survival are anticipated to positively impact product growth.

The Ballistic Composites market expansion is also anticipated to be fueled by rising defense spending as a result of expanding regional economies and increased competition between nations to project their influence. The market is anticipated to be driven by the rising demand for newer gadgets and devices as a result of ongoing technological improvement.

Demand for Ballistic Composites Rising in Personal Protection is expected to drive the ballistics composites market. New ballistic risks to soldiers' safety are now better protected, and overall body armor weight has decreased while comfort has increased. Modern military vehicles are now clad with lightweight ballistic materials rather than only steel armor, extending their range between refueling stops and enhancing mobility. Ballistic composites that are lightweight help reduce the weight of military vehicles and improve mobility by starting with fiber production and ending with commercial products and testing. The market will grow as a result of this element in the upcoming years.

The evolution and adoption of new technologies and products are expected to drive the Ballistic Composites market. Multipurpose ballistic materials are being tested at military research facilities to be included in troop protection gear. These materials have conductive qualities that should make it possible to track a soldier's heart rate. These research facilities are working to integrate antenna communication right into composite vests, which should make them lighter. To improve the ballistic performance of composite materials, businesses are using nanotechnology.

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BALLISTIC COMPOSITES MARKET SHARE ANALYSIS

Based on region, North America is expected to hold the lucrative market share. Due to the significant demand from the US and other nations, North America is the region that consumes the most ballistic composite. Vehicle armor, body armor, and helmets are a few examples of the major product types of ballistic composites in the North American market. The ballistic composites market in North America is primarily driven by regulatory frameworks, government standards, and technological advancements.

Aramid fiber is expected to hold the lucrative market share. Aramid fiber is utilized for a variety of purposes in the military and homeland security because of its exceptional qualities, including strength, flexibility, durability, stability, low weight, and resistance to heat, temperature, and moisture. It is used to create a variety of goods, including face and body armor, body armor for vehicles, and helmets. Due to its lightweight and corrosion resistance qualities, aramid fiber-based ballistic composites are projected to see an increase in demand.

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Market By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key players

BAE Systems
Gurit
Honeywell International
Koninklijke Ten Cate
Royal DSM
II-VI M Cubed
Barrday
FY-Composites
Gaffco Ballistics
JPS Composite Materials
Matrix Composites
Morgan Advanced Materials
Plastic Reinforcement Fabrics
Southern States
TEIJIN

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SIMILAR REPORTS

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