Global Ballistic Composites Market to Reach US$ 2.6 Billion by 2032, Impelled by Rising Incidences of Border Threats

May 20, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled "Ballistic Composites Market Report by Fiber Type (Aramids, Ultra-High Molecular Weight Polyethylene (UHMWPE), S-Glass, and Others), Matrix Type (Polymer Matrix Composite (PMC), Ceramic Matrix Composite (CMC), Metal Matrix Composite (MMC)), Application (Armor, Helmets and Face Protection, and Others), and Region 2024-2032," the global ballistic composites market reached a value of US$ 1.6 Billion in 2023. Ballistic composites refer to high-performance substances that are primarily used in the manufacturing of military devices and armaments that aid in deterring projectiles. Their structure comprises a containment material and a strike face, which are produced from a combination of phenolic resin and glass reinforcement that provide the required stiffness and strength to the composites, which can be further enhanced by altering the resin and fiber types. They are mainly designed in a way to meet various necessities, such as cost restrictions, threat levels and weight requirements. The demand for ballistic composites has increased over the years due to their benefits, including high thermal conductivity and durability and resistance to heat and corrosion.

Global Ballistic Composites Market Trends:

The global market is primarily driven by the rising incidences of border threats and geographical conflicts. This has encouraged numerous public and private agencies to heavily invest in upgrading the overall defense infrastructure. Along with this, continual technological advancements and the incorporation of advanced technologies across the defense sector for improving the survivability of the fight troops are contributing to the market. Coupled with the increasing demand for lightweight materials that aid in the easy handling of armors, this has provided a boost to the demand for ballistic composites. In line with this, the rising need to minimize carbon dioxide emissions and fuel consumption due to an enhanced focus on sustainable development is significantly supporting the product demand. Furthermore, since they are effective against fragmentation originating from mortars, grenades and artillery, there has been a considerable rise in the adoption of ballistic composites in the manufacturing of defense armors. Other factors, including the expanding defense budgets of numerous countries and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.6 Billion by 2032, exhibiting a CAGR of 5% during 2024-2032.

Market Summary:

  • On the basis of the fiber type, the market has been segmented into aramids, ultra-high molecular weight polyethylene (UHMWPE), s-glass and others.
  • Based on the matrix type, the market has been classified into polymer matrix composite (PMC), ceramic matrix composite (CMC) and metal matrix composite (MMC).
  • On the basis of the application, the market has been categorized into armor, helmets and face protection, and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include BAE Systems plc, Barrday Inc., Gaffco Ballistics Inc., Gurit Holding AG, Honeywell International Inc., II-VI Incorporated, Koninklijke DSM N.V., Koninklijke Ten Cate B.V., MKU Limited, Morgan Advanced Materials, PRF Composite Materials, Southern States LLC and Teijin Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
 Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Fiber Type, Matrix Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BAE Systems plc, Barrday Inc., Gaffco Ballistics Inc., Gurit Holding AG, Honeywell International Inc., II-VI Incorporated, Koninklijke DSM N.V., Koninklijke Ten Cate B.V., MKU Limited, Morgan Advanced Materials, PRF Composite Materials, Southern States LLC and Teijin Limited
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
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Global Ballistic Composites Market to Reach US$ 2.6 Billion by 2032, Impelled by Rising Incidences of Border Threats
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