The report "Ballistic Composites Market by Fiber Type (Aramid, UHMWPE, S-Glass), Matrix Type (Polymer, Polymer-Ceramic, Metal), Application (Vehicle Armor, Body Armor, Helmet & Face Protection), and Region - Global Forecast to 2021", is projected to reach USD 1.80 Billion by 2021, growing at a CAGR of 7.12%, from 2016 to 2021. The rising demand for ballistic composites in personal protection due to its light weight and high strength properties is the major driver for the growth of the ballistic composites market.
The ballistic composites market includes raw material suppliers, manufacturers, and end users of ballistic composites Honeywell Spectra(U.S.), DSM Dyneema (Netherlands), BAE Systems (U.K.), Royal Tencate (Netherlands), Morgan Advanced Materials (U.K.), DuPont Protection Technologies (U.S.), Solvay (Belgium), Gurit (Switzerland), 3M (U.S.), CoorsTek (U.S.), Teijin Limited (Japan), and others are the leading players operating in the market.
Aramid fiber comprises a major share in the ballistic composites market in terms of value and volume
Aramid fiber has the largest share in the global ballistic composites market and the market for aramid fiber ballistic composites is projected to grow at the highest CAGR in terms of both, value and volume. Aramid fibers are strong synthetic fibers with high heat-resistant properties. These fibers are extensively used for the body armor application. The high dynamic energy absorption characteristics, high modulus, high specific strength, and excellent thermal properties is leading to the growth of aramid fiber in the ballistic composites market.
North America is a major region driving the ballistic composites market
North America accounted for the largest market share in ballistic composites, globally, in 2015. The growth of the ballistic composites market in this region is driven mainly by established players in this region. High spending by the military industry on maintenance of security, and stringent standards by the U.S. government emphasizing the safety of the defense forces is another major reason leading to the high growth of the ballistic composites market in North America. For instance, high spending of the U.S government on several military programs such as Armored Multipurpose Vehicle (AMPV) Joint Light Tactical (JLTV) program and others are expected to drive the demand for ballistic composites in the defense sector in North America.
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Key Target audience
- Ballistic composites manufacturers
- Raw material suppliers
- Distributors & suppliers
- Industry associations
The ballistic composites market includes raw material suppliers, manufacturers, and end users of ballistic composites Honeywell Spectra(U.S.), DSM Dyneema (Netherlands), BAE Systems (U.K.), Royal Tencate (Netherlands), Morgan Advanced Materials (U.K.), DuPont Protection Technologies (U.S.), Solvay (Belgium), Gurit (Switzerland), 3M (U.S.), CoorsTek (U.S.), Teijin Limited (Japan), and others are the leading players operating in the market.
Aramid fiber comprises a major share in the ballistic composites market in terms of value and volume
Aramid fiber has the largest share in the global ballistic composites market and the market for aramid fiber ballistic composites is projected to grow at the highest CAGR in terms of both, value and volume. Aramid fibers are strong synthetic fibers with high heat-resistant properties. These fibers are extensively used for the body armor application. The high dynamic energy absorption characteristics, high modulus, high specific strength, and excellent thermal properties is leading to the growth of aramid fiber in the ballistic composites market.
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North America accounted for the largest market share in ballistic composites, globally, in 2015. The growth of the ballistic composites market in this region is driven mainly by established players in this region. High spending by the military industry on maintenance of security, and stringent standards by the U.S. government emphasizing the safety of the defense forces is another major reason leading to the high growth of the ballistic composites market in North America. For instance, high spending of the U.S government on several military programs such as Armored Multipurpose Vehicle (AMPV) Joint Light Tactical (JLTV) program and others are expected to drive the demand for ballistic composites in the defense sector in North America.
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