223 Users Online
Global Ballistics Composite Market by Fiber Type (Aramid, UHMPE, Glass, and other Fiber Type)
Newly-released Ballistics Composite Market analysis report by Persistence Market Research shows that global sales of Ballistics Composite Market in 2022 were held at US$ 1.8 Billion. With 7%, the projected market growth during 2022 - 2033 is expected to be slightly higher than the historical growth. Aramid-based Ballistics Composites Fiber type is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 7.6% during 2022 – 2033.
|
Attributes |
Details |
|
Ballistic Composites CAGR% (2018 – 2022) |
5.5% |
|
Ballistic Composite Market Size (2023) |
US$ 1.9 Billion |
|
Ballistic Composites Market Size (2033) |
US$ 3.8 Billion |
|
U.S. Market CAGR (2022 – 2033) |
6.8% |
|
Key Companies Covered |
|
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
As per the Global Ballistics Composite Market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of the Ballistics Composite Market increased at around 5.5% CAGR.
The key revenue drivers, which affect the Ballistics Composites demand, include an increase in the usage of Ballistics Composites for various Army personnel bulletproof helmets, vests, and other armor systems and in the production of military vehicles, land-based shelters, ships, and aircraft. It can also be used as a structural material or as secondary plate armor only for protection.
The market for ballistic composites will continue to expand due to their extensive use in the production of racing cars and racing bike tires, fireproof clothing, body armor, and other military personnel armor.
Furthermore, the long life of Ballistics Composites-based products and their low maintenance requirements are significant factors boosting their demand during the forecast period.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized VersionThe key factors which are propelling the Ballistics Composites demand are its properties like impact resistance, anti-corrosion, tensile strength, lightweight characteristic, easy moldability, high strength, high modulus, low density, excellent resistance to fatigue, creep, creep rupture, wear, and low coefficient of thermal expansion.
The increase in demand for personal protection in military survival is anticipated to positively affect product growth. Furthermore, market expansion is anticipated because of rising defense costs brought on by regional economic expansion and growing international competition among nations to demonstrate their superiority. The market is anticipated to increase during the projected period as a result of the rising demand for new gadgets and technologies brought on by ongoing technological advancements.
Instead of being outfitted with steel, the new armored vehicles are instead laden with lightweight ballistic composite materials, which efficiently extend their operational range and reduce the need for refueling which significantly affects military mobility and is anticipated to impede industry development. It is anticipated that increased utilization of innovative raw materials to reduce the weight of ballistic defense systems will open up new business prospects.
Vehicle Armor, Body Armor, Helmets, and, Face Protection for soldiers, policemen, and general security personnel are among the key end-use industries of Ballistics Composites. Due to their lightweight characteristic, fatigue resilience, and high rigidity, ballistic composites are commonly employed in the manufacturing of these accessories. As a result, the worldwide ballistics composite market is being driven by a rise in the number of army personnel accessories.
The increase in the demand of personal safety is also leading to the growth of the market of ballistic composites, with more and more people investing in the bulletproofing of their cars led by companies like Armormax, and Minerva.
Ballistic composite manufacturing is a highly complex process. The market's expansion will be constrained by the high cost of ballistic combinations and the stringent regulations the government has placed on ballistic composites. The average cost of bulletproofing a car starts from US$ 18,000 to US$ 100,000. Ballistic compound industry growth will be slowed down by defense technology's inability to completely safeguard users.
Sales Team
Client Partner
The Honeywell Corporation’s Invention called Spectra Fiber can be a threat to the ballistic composites market. Since polyethylene is a highly processed molecule, Spectra offers one of the highest weight-bearing strengths of any synthetic fiber. It is also stronger and lighter than the majority of commercial modulus fibers. Pure white polyethylene is around 40% more robust than aramid fiber and 10 times stronger than steel pound for pound. It also lasts longer than polyester.
Ultra-high molecular weight polyethylene is used in the unique spinning gel process to create Spectra fiber. Scientists at Spectra Technologies have used the extraordinary natural forces at the molecular core of polyethylene, a material that is extraordinarily durable, to create the strongest and most flexible fibers. Spectra fiber can have a substantially higher solubility temperature than standard polyethylene due to the gel spinning procedure and subsequent painting operations. Owing to these characteristics, numerous high-performance materials, such as police and ballistic-resistant, protective helmets, armored vehicles, sailcloth, fishing ropes, seawater, lifting brackets, gloves, and non-slip apparel, use Spectra fiber.
During the projection period, Asia Pacific is expected to be the significant Ballistics Composites Market with more than 50% of the global market share. With rapid growth in the Automotive and Military sectors in Asian countries, the market of composite ballistics is expected to swell.
China Ballistics Composite Market Analysis
China is expected to account for a significant market of US$ 805.1 Million by the end of 2033. It is expected to be projected to have an absolute dollar growth of US$ 439.2 Million. This is due to several factors such as an increase in the usage of ballistic composites in automotive, and military and usage in the manufacturing of fireproof suits, and gloves.
The country's high-value utility for Ballistics Composites is also supported by Chinese government policy which is mentioned in “Military and security developments involving the People’s Republic of China” for Ballistic Composites Policy document. This policy supports high usage of ballistic composites focusing primarily on the Air Force, Navy, CNSA, People’s Liberation Army, Missile Defense Agency, and other sectors.
U.S. Ballistics Composite Market Analysis
The US is the second most important market for ballistic composites with a market size of US$ 764.1 Million by 2033. The market in the country is expected to swell at a CAGR of 6.8% from 2023 to 2033, with an absolute dollar opportunity of US$ 369 Million.
U.K. Ballistics Composite Market Analysis
The market in the U.K. is expected to reach a valuation of US$ 125 Million by 2033. Growing with a CAGR of 7.8% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of US$ 65.3 Million.
Japan Ballistics Composite Market Analysis
In Japan, the market is expected to grow at a CAGR of 8% from 2023 to 2033, reaching US$ 309 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of US$ 166 Million during the forecast period.
Why Aramid Fiber is projected to Witness the Fastest Growth among Ballistics Composites Product Types?
Market revenue through the Aramid Fiber in Ballistic Composites Market is forecasted to grow at a CAGR of over 7.6% during 2022-32. Aramid Fiber is a key option when compared on an equal-weight basis. It has superior mechanical qualities compared to steel and glass fibers.
The advantages of aramid fibers include their lightweight, durability, mechanical strength, and electromagnetic neutrality. Aramid fiber's strength comes from strong bonds between brief molecules. For a variety of end-use systems, processing Aramid fibre comes at a high cost.
The prominent players in Ballistic Composites Market include BAE Systems, Barrday Corporation, Honeywell International Inc., FY Composites OY, PRF Composite Materials, Morgan Advanced Materials, Southern States LLC, MKU Limited, Gaffco Ballistics, Gurit, ArmorSource, Royal Ten Cate NV, Elmon, Teijin Limited, DSM, and DuPont.
Some of the recent developments in the Ballistics Composite Market are:
By Fiber Type
By Matrix Type
By Application
By Region
The global Ballistics Composite Market is worth more than US$ 1.9 Billion at present.
The value of the Ballistics Composite Market is projected to increase at a CAGR of around 7% during 2022 – 2033.
The value of the Ballistics Composite Market increased at a CAGR of around 5.5% during 2018 – 2022.
The global demand for Ballistics Composites is being fueled by a considerable increase in the commercial aircraft segment, and their usage to obtain higher efficiency from the automotive as well as the sports and leisure market.
The growth of the market for Ballistics Composites in China is projected to expand at a CAGR of around 8.2% during 2022 – 2033.
The growth of the market for Ballistics Composites in China is projected to expand at a CAGR of around 6.8% during 2022 – 2033.
While the market in South Korea is expected to grow at nearly 7.2%, the market in Japan is projected to register a CAGR of nearly 8.0% during 2022 - 2033.
