Armor Market to reach USD 67.35 Bn at a CAGR of 6.27 percent over the forecast period
Maximize Market Research, a global Consumer Goods & Services market research firm has published a market research report on the “Armor Market”. The Armor Market size was valued at USD 44.01 Bn in 2023. The total Armor Market revenue is expected to grow at a CAGR of 6.27 percent from 2024 to 2030, reaching USD 67.35 Bn during the forecast period.
Armor Market Report Scope and Research Methodology
Market Size in 2023: USD 44.01 Billion
Market Size in 2030: USD 67.35 Billion
CAGR: 6.27 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 228
No. of Tables: 134
No. of Charts and Figures: 189
Segment Covered: By material, By Application.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Armor Market Scope and Research Methodology
The report provides a comprehensive examination of the Armor Market, including a competitive analysis that highlights company profiles, financial performance, product portfolios, and strategic initiatives of leading players in the sector. It also explores critical insights such as primary factors driving market growth, challenges faced by industries , and opportunities for growth. Additionally, the report offers an in-depth assessment of market players’ investments geared towards expanding their presence on the international stage, making it an essential resource for investors seeking valuable market insights.
The report examines segments including by material,by Application within the Armor market. Data collection both Secondary research methods as well as Primary research methods , The size of the Armor market was determined using a bottom-up approach for estimation.
Armor Market Overview
Armour, protective clothing with the ability to deflect or absorb the impact of projectiles or other weapons that used against its wearer. The global Armor market influenced by technological advancement , rising security concerns, and increased Defense spending across the globe. The use of nanotechnology materials and fibers in the manufacturing of lightweight and flexible armor is projected to be the driving factor for Armor Market during the forecast period.
Armor Market Dynamics
The demand for Armor is driven by various factors like Heightened geopolitical tensions, increasing terrorism, and evolving warfare tactics.The Armor market experience rapid growth because of rising concern of terrorism Advancements in materials such as ceramics, composites, and 3D printing have revolutionized armor, making it lighter, more resilient, and customizable.innovation in materials such as lightweight composite and advanced ceremics driving the Armor market technologies such as active protection systems,electric armor and situational awareness systems propelling the growth of Armor market Growing disputes in various territories, uprising, political turmoil and uncertainly as well as terrorism incidents all over the world have forced the military and civilians plus material science to research for measures that guarantee safety.
Armor Market Regional Analysis
Asia Pacific region held the largest Armor Market share accounting for 31.29 percent in 2023 and is expected to dominate the market over the forecast period. Asia Pacific region is experiencing growth in global armor market increase in defense spending from countries like India and China. North America is a major customer and manufacturer of the Armor market Development in military and defense technology in the U.S. and Canada is boosting the armor market growth in the North America region. North America is the biggest market for armour materials owing to increasing need for homeland security solutions. Also, much headway made in producing sophisticated armour materials and making progressive armour systems for vehicles and aircrafts. Besides, American Berry amendment as law requires defence contractors to purchase only locally produced goods; this includes armour plates among others. Thus regionally produced such as bullet proof plates see their market grows courtesy of American laws which restrict arms imports for most countries outside its borders.
Armor Market Segmentation
By Material
- Metals and Alloys
- Ceramics
- Composites
- Para-aramid Fiber
- Ultra-high-molecular-weight Polyethylene
- Fiberglass
- Others
By Application
- Vehicle Armor
- Body Armor
- Aerospace Armor
- Marine Armor
Based on Application , The market divided into Vehicle Armor, Body Armor, Aerospace Armor, and Marine Armor. In countries such as India, China, Brazil, and South Korea that are showing economic activity on some level, people may be worried about their safety because they need automatic protection outfits when risking their lives as well as creating a situation with exchange of gunfire; all this leads to the application for body armor so as to safeguard life against bullets.
Armor market key players include
North America
- Du Pont De Nemours and Company (United States)
- 3M Ceradyne Inc. (United States)
- AR500 Armor (United States)
- Honeywell International Inc (United States)
- Saint-Gobain (United States)
- ATI (United States)
- CoorsTek, Inc. (United States)
- ArmorWorks
- Armacel Armor
- Citizen Armor
Europe
- BAE Systems (United Kingdom)
- Morgan Advanced Materials PLC (United Kingdom)
- Koninklijke ten cate Bv. (Netherlands)
- Ceramtec (Germany)
- SAAB AB (Sweden)
- TenCate Advanced Armour
Asia Pacific
- Aegis Engineering Ltd. (India)
- Craig International Ballistics Pty Ltd. (Australia)
- Deekon (Shanghai) Industry Co
- Deqing Fox Armour Co., Ltd.
- Ningbo Chowey Police Equipment Co.
Middle East & Africa
- Ballistic Body Armor Ltd (Israel)
- SK Group Israel
- XX
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Key questions answered in the Armor Market are:
- What are Armor ?
- What was the Armor market size in 2024?
- What is the expected Armor market size by 2030?
- What is the demand pattern for the Armor market?
- Which region held the largest share in the Armor market?
- Who are the key players in the Armor market?
- What is the growth rate of the Armor Market?
- Which are the factors expected to drive the Armor market growth?
- Which segment dominated the Armor market growth?
- Who is the largest key player in the Armor Market Growth?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Product Type, Services, and Application.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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