New York, September 2021: Axiom Market Research & Consulting™ added a report on Ballistic Composites Market which includes study on type, fiber type, usage, and geography. The Ballistic Composites Market was projected to grow at a CAGR of 6.19% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the Ballistic Composites Market.
The factors such as increase in the defence expenditure of several countries, growing internal and external threats, the increasing demand for the lightweight materials in the defence and aerospace industry, lightweight and comfortable materials, increase in the demands of personal protection, increased R&D and mass production of ballistics fibres are contributing towards the healthy growth of ballistic composites market. The factors such as high cost and stringent standards of ballistic composite products, complexity to design ballistic composite, failure in providing full protection, need for investment in R&D are somehow hampering the ballistics composites market. The covid-19 pandemic has also hampered the ballistic composites market.
The report analyses the global ballistic composites market is segmented by type, fiber type, application, and geography. By type, the ballistic composites market is segmented into polymer matrix, metal matrix, and polymer-ceramic matrix. By fiber type, the ballistic composites market is segmented into aramid, UHMPE, M5, glass, hybrids, ultra-high molecular weight polyethylene. The ballistic composites are used in the areas like armour, body armour, face protection and helmets and others. By geography, the ballistics composites market is studied across the regions including North America, Europe, Asia Pacific, and Rest of the World.
The polymer matrix composites are having the qualities like high resistance, light weight, high rate of durability and low frictions because of which it is holding the highest market share in the ballistic composites market.
The aramid fiber type is having some derivatives like meta-amid and para-amid, and the highest holding the global ballistic composites are also taken by the aramid fibers in 2020. The aramid fiber also have the highest market share among the other fiber type segments in the ballistic composites market.
The vehicle armours of the usage segment is holding the highest shares in the global ballistic composite market as the vehicle armours are light in weight, and they also have high mobility than other along with better fuel efficiency.
The region of North America is providing more expenditure on the region’s army and research and development. North America also has the highest number of suppliers for the ballistic composites market across the globe.
The key players of ballistic composites market are Armorsource, Bae Systems, Barrday Corporation, Dsm, Dupont De Nemours Inc., Elmon, Fy Composites Oy, Gaffco Ballistics, Gurit, Honeywell International Inc., M Cubed Technologies, Inc., Mku Limited, Morgan Advanced Materials, Prf Composites, Royal Ten Cate Nv, Southern States Llc, Teijin Bae Systems, Tencate among others.
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