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Ballistic Composites Market 2019-2024 Summary, Dynamics, Scope, Size, Share, Growth Rate, Upcoming Trends, Forecast Details

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Ballistic Composites Market 2019-2024 Summary, Dynamics, Scope, Size, Share, Growth Rate, Upcoming Trends, Forecast Details

Ballistic Composites

This “Ballistic Composites Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Ballistic Composites market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The market for ballistic composites is expected to register a CAGR of 6.34% during the forecast period (2019-2024). 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 in 2017, 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.<

    Ballistic Composites Market Covers Manufacturers:

  • BAE Systems
  • Barrday Corporation
  • Royal DSM NV
  • DowDuPont
  • FY Composites OY
  • Gaffco Ballistics
  • Gurit Holding AG
  • Honeywell International Inc.
  • II
  • VI M Cubed
  • MKU Limited
  • PRF Composite Materials
  • Koninklijke Ten Cate BV
  • Morgan Advanced Materials
  • Southern States LLC
  • Teijin Limited
  • Waco Composites

    Scope of the Report:

  • This report studies the global Ballistic Composites market size, industry status and forecast, competition landscape and growth opportunity.

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    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 in 2018, 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. In February 2018, the US government proposed a defense budget of USD 716 billion for FY 2019. The United States was the most significant defense spending nation in 2018, with a spending of USD 647 billion, which shows an increase of 6.07% from that of FY 2017. The United States also struck a major deal with Saudi Arabia for arms deal sales, along with the sale of F-35 combat aircraft. Moreover, the US army announced its plans of spending about USD 1.4 billion on the manufacturing of lightweight tanks project, over the forecast period. Owing to the aforementioned factors, the ballistic composites market in the region is expected to increase at a significant rate, during the forecast period.

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    Target Audience of Ballistic Composites Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Ballistic Composites Market Report:

    • Analyzing various perspectives of the Ballistic Composites market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Ballistic Composites market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Ballistic Composites market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Ballistic Composites market studied, during the forecast period
    • The segments that are expected to dominate the Ballistic Composites market studied.

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