The ceramic armor market has gained immense popularity in recent years owing to the increasing terrorism and insurgency activities across the world. Ceramic armor provides high ballistic protection against bullets, shrapnel and shell fragments. It consists of hard, strong materials that are able to resist penetration from high-velocity projectiles like armor-piercing bullets and shell fragments while still remaining relatively lightweight. The global ceramic armor market is estimated to be valued at US$ 2.6 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the ceramic armor market are Koninklijke DSM N.V., BAE Systems, Morgan Advanced Materials , Saint-Gobain S.A., 3M Company, CeramTec, II-VI Incorporated, Safariland, LLC, Coorstek, Inc., MKU Limited. These key players are focusing on new product launches and mergers & acquisitions to strengthen their market position.
The key opportunities in the Ceramic Armor Market Demand include development of advanced lightweight ceramic armor materials and increasing procurement of ceramic armor by military & defense and homeland security agencies across the world. Moreover, increasing focus on soldier modernization programs by various countries is anticipated to offer lucrative growth opportunities for ceramic armor manufacturers during the forecast period.
The ceramic armor market is expanding globally driven by increasing demand from North America, Europe and Asia Pacific. Asia Pacific is emerging as a high growth region on account of rising defense expenditures by China and India. Moreover, increasing conflicts and insurgency activities in Middle East & Africa is propelling the demand for ceramic armor in the region.
Market Drivers
The key driver for the growth of ceramic armor market is the increasing terrorism and insurgency activities across the world. With rising threats from extremist groups, the demand for lightweight and high-performance body armors have surged from military and law enforcement agencies globally. Moreover, increasing defense budgets of developed and emerging economies is accelerating the procurement of advanced ceramic armors to modernize the armed forces which is fueling the market growth.
PEST Analysis
Political: Government regulations related to use of ceramics for armors are getting stringent. New directives are focusing on increasing safety of armors used by law enforcement and military personnel.
Economic: Growth in defense spending of major economies is driving demand for advanced ceramic materials for armors. Rise in terrorism and geopolitical tensions are prompting investments in personal protection equipment.
Social: Increasing conflicts and law and order issues are raising safety concerns. This is boosting utilization of lightweight and durable ceramic armors for protecting human lives.
Technological: Continuous innovations are leading to development of new ceramic compounds with superior ballistic and abrasion resistance. Additive manufacturing and 3D printing technologies are enabling mass production of customized ceramic armor designs.
In terms of value, the ceramic armor market is concentrated in North America and Europe. Major defense spending by US, UK, France and other European nations is propelling sales of ceramic plates, vests and other protective equipment in these regions.
The Asia Pacific market is poised to witness fastest growth during the forecast period. Rising military budgets of India and China coupled with increasing concerns over cross-border terrorism are fueling demand for ceramic armors. Modernization of armed forces with advanced personal protection systems will further support the market expansion in Asia Pacific.
The global Ceramic Armor Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Ceramic Armor include Ceradyne, SAAB AB, CeramTec, ArmorWorks, CeramTec, Koninklijke Ten Cate BV, CoorsTek Inc., Olbo & Mehler, Koninklijke Ten Cate BV, M Cubed Technologies, and Safariland LLC..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Ceramic Armor Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/ceramic-armor-market/download-sampleMarket SegmentationThe broad Ceramic Armor has been sub-grouped into the Material Type, Application and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
The global Ceramic Armor Market was appreciated by US$ 1.75 billion in the year 2017.
Plans for the transformation of the military, all over the world and emphasis on soldier survivability are fundamental issues motivating the progress of the business.
The subdivision of defense, all over the world, deeply financing in innovative armor resources for example ceramics, that deliver higher airborne presentation.
The Ceramic Armor market on the source of Type of Application could span Marine Armor, Aircraft Armor, Defense Armor, Body Armor.
The subdivision of defense responsible for the biggest stake in the ceramic armor market such as the material discovers widespread use in the subdivision of defense sector, for shielding of warriors, automobiles, and structure set-up.
North America is a homeland for the number of companies of ceramic armor, that supports them to increase a reasonable advantage above the companies functioning in additional areas.
Ceramic Armor Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
The study has done with respect to market share, size, outlook, estimation and forecast period 2021-2027.
Further, this report also highlights the regional and country-level market analysis.The ceramic armor market is vast, with many local and global players.
The ceramic armor market is extensive, with many regional and international players.
The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe.
For instance, in October 2017, Koninklijke Ten Cate BV launched the TenCate Cratus hard body armor for law enforcement, military, and federal agency requirements.The key players studied in the report are Ceradyne, SAAB AB, CeramTec, ArmorWorks, CeramTec, Koninklijke Ten Cate BV, CoorsTek Inc., Olbo & Mehler, Koninklijke Ten Cate BV, M Cubed Technologies, and Safariland LLC.Get more information on "Global Ceramic Armor Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/ceramic-armor-market/download-sampleMarket SegmentationThe entire horse riding apparel market has been sub-categorized into material type, application, and region.
