Product Code: 61953
The market for ballistic composites is expected to register a CAGR of greater than 6% during the forecast period. One of the major factors driving the market is the increasing demand from the defense and aerospace industries.
The oil and gas industry dominated the market and is expected to grow during the forecast period, owing to the increasing oil and gas activities across the world.
- The rise in defense expenditures and budgets of many countries, and the demand for lightweight materials for protection against ballistic threats are likely to act as opportunities in the future.
- North America dominated the market across the world, with the largest consumption from countries, such as the United States and Canada.
Key Market Trends
Increasing Demand for Vehicle Armors
- Vehicle armors go into ground vehicles, sea vehicles, and helicopters.
- Increasing warfare across the world is increasing the demand for military vehicles required in warships, which is likely to increase the demand for vehicle armor during the forecast period.
- Composite materials have gradually crept into armor systems for naval vessels and land combat vehicles. They have displaced steel, aluminum, and even titanium alloys, partly due to improved ballistic efficiencies similar to the significant advancements in specific strength and stiffness made in structural materials, as well as being lightweight. Composite parts can be part of the primary armor, especially effective against fragmentation, originating from grenades, mortars, artillery, and other explosive devices. Vehicles can use armor laminates of either S-glass or Kevlar fabric.
- Land combat vehicles are protected by armor sufficient to withstand heavy machinegun fire and overhead artillery fire. These vehicles have external armor kits, which include glass fiber reinforced support plates. A strengthened undercarriage protects the personnel inside from mines. Exterior armor design generally includes modular expandable armor system panels, made with ceramic-faced woven aramid, roof interiors consist of molded-woven aramid reinforced composites, and interior sides contain molded, S-fiberglass-reinforced composites.
- Armor protection is also required on the bottom of helicopters against ground fire from small arms. As the fuselage of helicopters needs to be light, the base portion is generally vulnerable to small arms fire from the ground, which puts the occupants at risk. Lightweight armor for the bottom of helicopters has been in use for many years.
- In the area of vehicle armor, ballistic composites have provided the following benefits: reduced the weight of a vehicle, increased mobility, decreased number of components required to armor, increased fuel efficiency, and increased life of the vehicle.
North American Region to Dominate the Market
- The North America region dominated the global market share, due to the growing aerospace and defense industrial activities and the increasing need to bring down the cost, lower carbon dioxide emissions, and fuel consumption.
- The United States is the largest consumer of the market studied.
- By 2023, the Navy forces may increase by 16,900, the Marine Corps by 1,400, and the Air Force by 13,700, increasing the total active-duty military to 1,365,500 personnel.
- The proposal also includes an investment of USD 6.5 billion, to place more tanks, armored vehicles, and other combat equipment in Europe, as part of the Pentagon plan to reassure European allies.
- Owing to the aforementioned factors, the ballistic composites market in the region is expected to increase at a significant rate, during the forecast period.
The ballistic composites market is highly consolidated, with top five players accounting for 50% of the market share. The major companies include DowDuPont, Royal DSM, Honeywell, Royal Ten Cate, and Teijin, among others.
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Table of Contents
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rise in Defense Expenditure of Many Countries
- 4.1.2 Increasing Demand for Lightweight Materials in the Aerospace and Defense Industry
- 4.2 Restraints
- 4.2.1 Need for High Investments in R&D
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 Fiber Type
- 5.1.1 Aramids
- 5.1.2 Ultra-high-molecular Weight Polyethylene (UHMWPE)
- 5.1.3 S-glass
- 5.1.4 Others
- 5.2 Matrix Type
- 5.2.1 Polymer
- 5.2.2 Polymer-ceramic
- 5.2.3 Metal
- 5.3 Application
- 5.3.1 Vehicle Armor
- 5.3.2 Body Armor
- 5.3.3 Helmet & Face Protection
- 5.3.4 Others
- 5.4 Geography
- 5.4.1 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 India
- 18.104.22.168 Japan
- 22.214.171.124 South Korea
- 126.96.36.199 Australia & New Zealand
- 188.8.131.52 Rest of Asia-Pacific
- 5.4.2 North America
- 184.108.40.206 United States
- 220.127.116.11 Canada
- 18.104.22.168 Mexico
- 5.4.3 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 Italy
- 184.108.40.206 France
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.4.4 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
- 5.4.5 Middle-East and Africa
- 184.108.40.206 Saudi Arabia
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 BAE Systems
- 6.4.2 Barrday Corporation
- 6.4.3 Royal DSM NV
- 6.4.4 DuPont de Nemours, Inc.
- 6.4.5 FY Composites OY
- 6.4.6 Gaffco ballistics
- 6.4.7 Gurit Holding AG
- 6.4.8 Honeywell International Inc.
- 6.4.9 II-VI M CUBED
- 6.4.10 MKU Limited
- 6.4.11 PRF Composite Materials
- 6.4.12 Koninklijke Ten Cate BV
- 6.4.13 Morgan Advanced Materials
- 6.4.14 Southern States LLC
- 6.4.15 Teijin Limited
- 6.4.16 Waco Composites
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Terrain Motor Vehicles with Ballistic Protection