DUBLIN--(BUSINESS WIRE)--The "Ceramic Armor Market by Material Type (Alumina, Boron Carbide, Silicon Carbide, Ceramic Matrix Composite, Titanium Boride, Aluminium Nitride), Application (Body Armor, Aircraft Armor, Marine Armor, Vehicle Armor), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global ceramic armor market size is expected to grow from USD 2.3 billion in 2022 to USD 3.5 billion by 2027, at a CAGR of 8.6% during the forecast period.
Alumina is the fastest-growing material type of ceramic armor, in terms of value
Use of Alumina to manufacture ceramic armor is expected to grow with the highest CAGR during the forecasted period due to the properties like high modulus of elasticity, refractoriness, and hardness. Also, it provides the best cost-benefit among other ceramic armor material type.
Moreover, high demand for ceramic armor from the aircraft and vehicle armor application is one of the major reason behind the high growth of alumina material type.
Aircraft armor is the fastest-growing application of ceramic armor, in terms of value
The ceramic armor market is an emerging market with large opportunities in the military & defense industry. The utilization of ceramic armor in aircraft armor, vehicle armor, body armor, and other applications.
The aircraft armor application leads the ceramic armor market. Ceramic armor are significantly utilized for the manufacturing of aircraft armors as these ceramic armor provide a high-level of protection against ballistic threats. Moreover, the use of ceramic armor in the manufacturing of vehicle armor protects them with extreme and unfavorable weather conditions, resistance against corrosion, and convenience in the mobility of the vehicles.
Asia Pacific is the fastest-growing ceramic armor market
Asia Pacific is expected to be the fastest growing market for ceramic armor during the forecasted years. As a result of high regional tension and disputes over territories, there is an increase in military spending within this region. Also, the region has been identified as a major export market for armors.
The respective governments of various countries in this region are signing contracts with western countries for technology transfer and collaboration in the defense sector, which is expected to drive the ceramic armor market in the region.
Market Dynamics
Drivers
- Security Concerns in Emerging Economies
- Increasing Demand for Homeland Security
- Changing Battlefield Scenario
- Development of Lethal Ammunitions and Weapons
Restraints
- Failure to Provide Complete Protection
- Complexity of Ceramic Armor Design
Opportunities
- Need for More Lightweight Armor Systems
- Military Modernization Programs
Challenges
- Developing Durable Ceramic Armor According to Different Threats
- Market Recovery from COVID-19
Companies Mentioned
- 3M Company
- Armorstruxx LLC
- Armorworks Enterprises, LLC.
- Bae Systems
- Ceramtec
- Cerco Corporation
- Coorstek, Inc.
- Fms Enterprises Migun Ltd.
- Hard Shell Group
- Ii-Vi Incorporated
- Koninklijke Dsm N.V.
- Morgan Advanced Materials plc
- Point Blank Enterprises, Inc.
- Saab Ab
- Safariland, LLC
- Saint-Gobain
- Schunk Carbon Technology
- Seyntex N.V.
- Sinoarmor
- Sm Group
For more information about this report visit https://www.researchandmarkets.com/r/wbe5o4
