According to IMARC Group’s latest report, titled “Ballistic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 1.5 Billion in 2021. Ballistic composites represent high-performance fibers capable of absorbing the shock and impact energy caused by explosions. They comprise of layered structural composites with polymer matrix reinforced with glass, carbon, para-aramid fibers, etc., for enhanced strength and stiffness. Ballistic composites are generally utilized as raw materials to manufacture helmets, vests, body and vehicle armors, shields, etc. They provide various advantages, including resistance to heat and corrosion, high thermal conductivity, durability, etc. Consequently, ballistic composites find extensive applications across several industries, such as defense, automotive, aviation, aerospace, etc.
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The increasing incidences of armed conflicts, violence, terrorism, etc., across the globe are among the primary factors driving the ballistic composites market. Moreover, the rising need for military modernization to improve national security is further catalyzing the market growth. In addition to this, the rapid development of next-generation weaponry systems to support and improve the survivability and efficiency of the troops is also bolstering the market growth. Furthermore, ballistic composites are gaining traction in the ground, air, and marine vessels to increase combat efficiencies against external and overhead artillery and machine gunfire, which is acting as another growth-inducing factor. Besides this, the launch of lightweight, comfortable, and user-friendly variants to offer enhanced protection against ballistic threats, such as bullets and flying debris, is expected to propel the ballistic composites market in the coming years. Looking forward, IMARC Group expects the ballistic composites market to reach US$ 2.1 Billion by 2027, exhibiting a CAGR of 5.87% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- BAE Systems plc
- Barrday Inc.
- Gaffco Ballistics Inc.
- Gurit Holding AG
- Honeywell International Inc.
- II-VI Incorporated
- Koninklijke DSM N.V.
- Koninklijke Ten Cate B.V.
- MKU Limited
- Morgan Advanced Materials
- PRF Composite Materials
- Southern States LLC and Teijin Limited.
Breakup by Fiber Type:
- Ultra-High Molecular Weight Polyethylene (UHMWPE)
Breakup by Matrix Type:
- Polymer Matrix Composite (PMC)
- Ceramic Matrix Composite (CMC)
- Metal Matrix Composite (MMC)
Breakup by Application:
- Helmets and Face Protection
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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