The global armor materials market is expected to witness a CAGR of 6.3% during the forecast period of 2018 - 2023. The major factor driving the market is the development of advanced weapons and the increasing homeland security concerns.

Growing Demand for Advanced Weapons

Armors are widely used in applications including aerospace, body armors as shields, civil armors, marine armors, and vehicle armors. The major factor driving the market for armor materials is the development of advanced weapons and ammunition. This is expected to increase the demand for armor solution at a great pace during the forecast period. However, the high cost involved in their production process is expected to hinder the market.

Aerospace Dominates the Market

The aerospace industry is expected to witness the highest demand for armor materials during the forecast period. It is also expected to have the fastest growth. Armor materials are heavily required in the production of aircraft. With the increase in the number of aircraft production, the demand for armor materials is likely to increase, hence, benefitting the market for armor materials during the forecast period.

North America - The Most Dominating Region

North America is expected to witness the highest demand for armor materials during the forecast period. The United States is one of the largest consumers of armor materials globally. This is majorly owing to the rising homeland security concerns due to terrorism. Europe is expected to have the second highest demand, and Asia-Pacific is expected to witness the fastest growth due to the increasing defense budget, and military modernization programs.

Key Developments in the Market

May 2017: DSM Dyneema expanded its global ballistic materials R&D capabilities for helmets.

The major players include Saint-Gobain, Tata Steel, 3M, Alcoa Inc., and Honeywell Spectra, amongst others.

Reason to Purchase the Report

Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
To understand the dominating application in the market.
Identify the countries expected to witness the fastest growth during the forecast period.
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