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Armor Materials are the specialty materials that have the ability to deflect or absorb the impact of projectiles. A variety of armor materials exist in the market and manufacturers are competing fiercely to develop durable and lightweight armor materials. Lightweight and effective armor materials are of high importance as it enables military personnel to carry extra ammunition or other beneficiary equipment with them.
There has been a continuous increase in military and security expenditures across the world on the back of increased safety concerns. Political uncertainty along with internal conflicts in the developing countries has resulted in increased consumption of armor materials for security personnel. Regional conflicts around the world such as India-Pakistan is also fuelling the demand for armor materials. Moreover, terrorist activities are on the rise around the world, which has raised concerns for safety. Governments are spending heavily on the security of their nationals as well as peace-keepers.
Key Market Driver -
Increasing expenditure on military and security across the globe.
Key Market Restraint -
Government regulations on sales and manufacturing.
However, government regulations on the sales and manufacturing of armors confine the market growth. Defense & security industry is one of the highly regulated industries in the world. Government monitors and controls the production as well as the sales of armor, arms and other associated products for security purposes. Sales to other countries or companies are also subjected to government clearance.
On the basis of materials, the armor materials market is segmented into para-aramid fiber, composites, metals & alloys, UHMWPE (ultrahigh molecular weight polyethylene), glass & ceramics and others. Based on the applications, the armor materials market is classified into body armor, vehicle armor, civil armor, aerospace armor, and marine armor. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The global armor materials market is fairly fragmented with a number of key players operating in the market. Some of the prominent manufacturers in the global armor materials market include- E. I. Du Pont De Nemours and Company, DSM NV, Saint-Gobain, Honeywell International Inc., Ceradyne, Inc. (3M), Koninklijke Ten Cate BV, Allegheny Technologies Incorporated, Saab AB, CoorsTek Inc., Morgan Advanced Materials, AGY Holding Corp., and others.
On a geographical basis, the armor materials market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-Pacific is anticipated to dominate the global armor materials market over the forecast period owing to the rising consumption from emerging economies such as China and India. On the back of rising political and civil unrest in the region, the demand for armor materials is poised to rapidly increase. Rising terrorist activities and an increasing number of deaths of security personnel due to lack of armors have raised some serious concerns on the national security and an urgent need for armors in the region. North America is pegged as the largest manufacturer of armor materials on the back of the US.
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Also, the United States is one of the largest consumers of armor materials in the world. The demand in the region is expected to remain moderate over the forecast period owing to changes in the military policy and relative regional harmony. Europe is also one of the major consumers of armor materials. However, the demand is expected to remain steady over the forecast period on the back of regional harmony and peace. Middle East & Africa is exposed to multiple security threats. Civil and political unrest are the major challenges for the development of the region. Some of the major conflicts in the region include Yemini Crisis, Afghanistan conflicts, Kurdish–Turkish conflict, Libyan crisis, and others. The demand for armor materials is expected to grow rapidly over the forecast period due to these uncertainties. Latin America is also a region of instability that is expected to create growth opportunities for the market.
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