Ballistic Composites Market Will Reach USD 1773.6 Million By 2028 With A CAGR of 4.0% | Valuates Reports
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
- The global Ballistic Protection market size is estimated to be worth USD 10770 million in 2022 and is forecast to be a readjusted size of USD 12970 million by 2028 with a CAGR of 3.2% during the forecast period.
- The global armor materials market size was valued at USD 10.6 billion in 2019, and is projected to reach USD 15.7 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027.
- The global Aramid market was valued at USD 4427.8 million in 2020 and it is expected to reach USD 4982.4 million by the end of 2027, growing at a CAGR of 1.7% during 2021-2027.
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- Global Missile Composites Market Insights and Forecast to 2028
- Global Aramid Fibre Market Research Report 2022
- The global Ultra High Molecular Weight Polyethylene Fiber (UHMWPE) market was valued at USD 681 million in 2020 and it is expected to reach USD 1108 million by the end of 2027, growing at a CAGR of 7.2% during 2021-2027.
- Global Anti-Riot Equipment Market Research Report 2022
- Global High Strength Aramid Fiber Market Research Report 2022
- Global Ballistic Protective Ceramic Market Insights, Forecast to 2028
- Global Carbon Fiber Market Outlook 2022
- The global Bio-Composites market size is estimated to be worth USD 31720 million in 2022 and is forecast to be a readjusted size of USD 62880 million by 2028 with a CAGR of 12.1% during the review period.
- The global Glass Fiber Reinforced Plastic (GFRP) Composite Material market was valued at USD 23590 million in 2020 and it is expected to reach USD 32150 million by the end of 2027, growing at a CAGR of 4.5% during 2021-2027.
- The global Advanced Composites market size is estimated to be worth USD 25780 million in 2022 and is forecast to be a readjusted size of USD 36990 million by 2028 with a CAGR of 6.2% during the review period.
- The global Recycled Carbon Fiber market size is estimated to be worth USD 133.2 million in 2022 and is forecast to a readjusted size of USD 234.5 million by 2028 with a CAGR of 9.9% during the review period.
- The global thermoplastic composites market size was valued at USD 15.2 billion in 2019, and is projected to reach USD 22.8 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
- The global High Purity Quartz market size is estimated to be worth USD 611950 million in 2022 and is projected to reach USD 803340 million by 2028 with a CAGR of 4.6% during the review period.
- The Containerboard market was valued at USD 155920 million in 2022, and it is anticipated to reach USD 198430 million by 2028, registering a CAGR of about 4.1% during the forecast period (2022–2028).
- The global Water Electrolysis market size is estimated to be worth USD 263.4 million in 2022 and is forecast to a readjusted size of USD 733.1 million by 2028 with a CAGR of 18.6% during the review period.
- The global methionine market size was valued at USD 6423 million and it is expected to reach USD 8380.2 million by the end of 2027 with a CAGR of 4.0% during 2021-2027.
- The global Maleic Anhydride market size is projected to reach USD 4963.6 million by 2027, from USD 3145.3 million in 2020, at a Compound Annual Growth Rate (CAGR) of 7.9% during 2021-2027.
- The global polylactic acid market size is estimated to be worth USD 1108.3 million in 2022 and is projected to reach USD 1346.7 million by 2028 with a CAGR of 3.3% during the forecast period.
- The global Ceramic Capacitor market size is estimated to be worth USD 14660 million in 2022 and is forecast to be a readjusted size of USD 23790 million by 2028 with a CAGR of 8.4% during the review period.
- The global Bentonite market size is estimated to be worth USD 1422.7 million in 2022 and is forecast to be a readjusted size of USD 1640.3 million by 2028 with a CAGR of 2.4% during the review period.
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