Global Ballistic Composites Market to Reach US$ 2.2 Billion by 2028, Impelled by Rising Incidences of Border Threats

May 20, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled "Ballistic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global ballistic composites market reached a value of US$ 1.5 Billion in 2022. 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$ 2.2 Billion by 2028, exhibiting a CAGR of 5.77% during 2023-2028.

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	2022
Historical Period	2017-2022
Forecast Period	2023-2028
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
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Global Ballistic Composites Market to Reach US$ 2.2 Billion by 2028, Impelled by Rising Incidences of Border Threats

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