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Ballistic Composites Market - Segmented by Fiber Type, by Matrix Type (Polymer, Polymer-Ceramic, Metal), by Application (Vehicle Armor, Body Armor, Helmet & Face Protection, Fishing Line), and Geography - Growth, Trends, and Forecast (2019 - 2024)

Ballistic Composites Market - Segmented by Fiber Type, by Matrix Type (Polymer, Polymer-Ceramic, Metal), by Application (Vehicle Armor, Body Armor, Helmet & Face Protection, Fishing Line), and Geography - Growth, Trends, and Forecast (2019 - 2024)

  • January 2019
  • 157 pages
  • ID: 5778116
  • Format: PDF
  • By Mordor Intelligence LLP

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Ballistic Composites Market 

The ballistic composites market is expected to register a healthy growth rate, during the forecast period (2018–2023). Rise in defense expenditure of many countries and increasing demand of lightweight materials in the aerospace & defense industry are expected to drive the market, through the forecast period.

Rise in Defense Spending by Many Countries

Ballistic composites are being used in numerous applications, due to its beneficial mechanical properties, such as high strength, impact resistivity, abrasion thermal degradation resistance, etc. Aramid fiber and UHMWPE (Ultra-High-Molecular-Weight Polyethylene) is used in protective clothing. It is also used in stab-resistant products, such as protective gloves and helmets. These fibers, when used in clothing, imparts several properties, such as high strength, lightweight, cut-resistivity, and high energy absorption into the clothing material. It also provides resistance from heat and flames and does not melt or adhere to the skin. With an increase in the recruitment of army personnel, countries are considering new and advanced uniforms and bullet-proof jackets. For instance, the Indian military is planning to provide advanced equipment, such as glove, knee guards, bulletproof jackets, etc. This increase in defense expenditure, by countries, is expected to contribute to the demand for ballistic composites, during the forecast period.

Vehicle Armor - The Dominating Application for Ballistic Composites Market 

Due to strict environmental regulations related to emissions and better fuel efficiency, the trend of weight reduction in the automobile is increasing. In comparison to other structural metallic materials that are presently dominant, such as steel, iron, and aluminum. The industry is currently taking advantage of the potential of these composites for their lightweight characteristic. The benefits of light-weighting can be translated into the potential savings of 8 million metric ton of CO2 per year, in the EU. This was calculated using a theoretical 33% weight reduction on a 10% volume of the entire EU fleet. They are used for fishing rods, body, floor, and wall composite materials of automobiles. With the increasing demand for automobiles, especially the high-end ones, the market for ballistic composites is expected to grow at a steady pace, during the forecast period.                     

Europe to Lead the Ballistic Composites Market 

The European Union has decided to increase its defense budget, with EUR 1.5 billion in funding for defense, EUR 0.5 billion in funding for military research, and EUR 1 billion for development and acquisition. France too has added EUR 1.8 billion funding to its 2018 defense budget, which is expected to reach EUR 34.2 billion as part of a planned rise in military spending, over the next five years. With defense spending increasing through the years, the use of protective gear in defense too will rise, thus driving the market for ballistic composites in the defense sector. These positive trends in the European region are expected to drive the growth of the market studied, over the forecast period.

Ballistic Composites Market Major Players:
BAE Systems.
Barrday Corporation.
Royal DSM NV.
Honeywell International Inc. 
Morgan Advanced Materials.
Royal Ten Cate NV. 
and Teijin Limited.

Key Developments in the Ballistic Composites Market:
- February 2017: TenCate Advanced Composites is planning to launch the next generation of fiber reinforced composite materials, TenCate Cetex TC1225, TenCate TC380, and TenCate E732, for aerospace and high-performance industrial applications.

Reasons to Purchase Ballistic Composites Market Report:
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To identify the application that is expected to dominate the market
- To identify regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)

Customize Ballistic Composites Market Report:
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