About Ballistic Composites
Ballistic composites are defined as the protective layer of material which is used to protect the person and object. Numerous features of ballistic composites are high impact resistance, damage tolerance, among others. It is widely used in the aerospace and defense sector. Government has taken various initiative to promote the defect sector. For instance, in February 2018, the Government of the United States has proposed a defense budget of more than USD 716 billion for FY 2019. In addition, in 2018, spending of more USD 647 billion, which shows an upsurge of 6.07% from that of FY 2017. Hence, government encouragement to promote defense and aerospace sector and increasing demand in personal protection and the growing threat from both growing internal and external conflicts are projected to drive the global ballistic composites market over the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 6.73% |
The ballistic composites market appears to be highly fragmented and with the presence of several companies including Honeywell Spectra (United States), DSM Dyneema (Netherlands), BAE Systems (United Kingdom), among others Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Ballistic Composites market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honeywell Spectra (United States), DSM Dyneema (Netherlands), BAE Systems (United Kingdom), Royal Tencate (Netherlands), Morgan Advanced Materials (United Kingdom), DuPont Protection Technologies (United States), Solvay (Belgium), Gurit (Switzerland), 3M (United States) and CoorsTek (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Teijin Limited (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Ballistic Composites market by , Application (Vehicle Armor, Body Armor, Helmets & Face Protection and Others) and Region.
On the basis of application, Vehicle Armor segment is dominating the market in the year 2023On the basis of geography, the market of Ballistic Composites has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Matrix Type, the sub-segment i.e. Polymer will boost the Ballistic Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand from the Defense and Aerospace Industries across the world
Market Growth Drivers:
Increasing Demand in Personal Protection and the requirement for Lightweight, Comfortable, and High Strength Materials and Rising Threat from Growing Internal and External Conflicts across the world
Challenges:
Problem related to Developing Durable Ballistic Composites According to Different Threats
Restraints:
The issue regarding Failure to Provide Complete Protection and Complexity of Ballistic Composite Designing and A major concern related to High Costs and Extremely Stringent Standards of Ballistic Composite Products
Opportunities:
Growing Demand from Emerging Economics such as China, India, Brazil, among others and Increasing R&D and Mass Production of Ballistic Fibers and Adoption of New Technologies of Ballistic Composites Products
Market Leaders and their expansionary development strategies
In September 2016, the Morgan Advanced Materials (United Kingdom) Company has signed a reseller agreement with Level Peaks Associates (United Kingdom) Company. In this agreement, the products will be sold by Level Peaks Associates Company to the military as well as the defense market. Therefore, this agreement helped the company to strengthen and diversify its business and product portfolio on a global scale.
In June 2016, the Morgan Advanced Materials (United Kingdom) company has launched ballistic shields for military and law enforcement applications. Hence, this launched will increase the product portfolio of the company.
Key Target Audience
Ballistic Composites Manufacturers, Raw Material Suppliers, Distributors & Suppliers and Industry Associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.