Pune, India — 03/13/2018 — The Global Ballistic Composites Market accounted for USD 1.28 billion in 2016 and is projected to grow at a CAGR of 7.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Ballistic Composites Market
Ballistic composites are required to be the lightweight and resistant and damage tolerant. Military forces are the major users of the ballistic composites. Increasing investment in the defense products will drive the growth of the market over the forecast period. Ballistic composites are used in vehicle armor, helmets, face protection and body armor.
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Major Market Drivers:
– Increasing demand for personal protection
– Growing threats from the internal and external conflicts
– Rising investment in the defense products
Market restraint: Global Ballistic Composites Market
– High costs and stringent standards of the ballistic composite products
Market Segmentation: Global Ballistic Composites Market
The ballistic composites market is segmented on the basis of matrix type into polymer matrix composites, polymer-ceramic, metal matrix. Polymer matrix is expected to grow at the highest CAGR over the forecast period.
On the basis of fiber type, the market is segmented into aramid fibers, UHMPE, glass, others. Others include M5 and Hybrid.
On the basis of application, the market is segmented into vehicle armor, body armor, helmets & face protection, others. Vehicle armor is further segmented into marine vehicle armor, land vehicle armor and air vehicle armor. Body armor is further segmented into body vests, shields and protective under garments. Vehicle armor is expected to grow at the highest CAGR over the forecast period.
On the basis of geography, the ballistic composites market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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Competitive Landscape: Global Ballistic Composites Market
The global ballistic composites market is highly consolidated with the presence of a limited number of players. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Ballistic Composites Market
Some of the major players in the ballistic composites market include Honeywell International Inc., BAE Systems, Royal Ten Cate NV, DSM, Gurit, Dupont, Teijin, Morgan Advanced Materials, Southern States LLC, Barrday Corporation, PRF Composites, Gaffco Ballistics, M Cubed Technologies, Inc. FY Composites OY, MKU Limited, ArmorSource, Elmon and many more.
Research Methodology: Global Ballistic Composites Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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