Ceramic Armor Market Key Player(Armor Works Inc., CeramTec,)

Posted by parker89 on September 24th, 2019

Ceramic Armor Market: Introduction

Ceramic armor is commonly used in defense and security sectors. It is used in soft ballistic vests. Ceramic armor helps in defeating the high velocity projectiles. It is a lightweight material, which guarantees durability and performance. Rise in advancements in the defense sector is expected to drive the demand for ceramic armor during the forecast period.

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Ceramic Armor Market: Segmentation

The ceramic armor market can be segmented based on material and application. Based on material, the ceramic armor market can be divided into boron carbide, ceramic metal composite, alumina, silicon carbide, and others. Alumina is expected to hold major share of the ceramic armor market in the near future. Properties associated with alumina such as high modulus of elasticity and hardness make it a highly attractive material for ceramic armor. Based on application, the ceramic armor market can be segregated into aircraft, defense, marine, and body. Ceramic armor is largely used for defense purposes. Thus, the defense segment held prominent share of the ceramic armor market in 2017. Rise in defense spending in developing and developed countries are propelling the demand for ceramic armor in the defense segment. Technology advancements in ammunition and weapon systems are also boosting the demand for ceramic armor.

Ceramic Armor Market: DROs

Increase in demand for high quality apparel at lower prices and rapidly changing fashion trends are driving the ceramic armor market. Ceramic armor is also increasingly used in military & defense applications. It is also employed in the manufacture of textiles accessories such as smart textiles or automotive textiles. These factors are also anticipated to boost the market. However, rise in number of substitutes such as polypropylene and para-aramid ceramic synthetic fibers is anticipated to restrain the market during the forecast period.

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Ceramic Armor Market: Region-wise Outlook

Based on region, the ceramic armor market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of volume and revenue, North America held key share of the ceramic armor market in 2017. The U.S. is the leading country for ceramic armor. It is likely to remain the dominant country during the forecast period. North America dominates in terms of military and defense sector the world. Rise in investments in the military & defense sector in North America is expected to drive the demand for ceramic armor in the region during the forecast period.

After North America, Europe is a prominent region of the global ceramic armor market. Rise in demand for body armors and lightweight materials, and increase in focus on soldier survivability are key factors anticipated to propel the demand for ceramic armor in Europe. Germany, Russia, and France are the major countries of the ceramic armor market in the region. These countries are focusing on modernizing their defense forces. This is estimated to drive the market.

Asia Pacific is expected to exhibit significant growth rate for ceramic armor during the forecast period. China and India are the key countries of the ceramic armor market in Asia Pacific. Rise in cross-border disputes and terrorist activities in Asia Pacific is the major factor creating the need for modernization of the defense & military sector. The Government of India is also planning to increase the FDI percentage in the defense sector in order to gain technology advantage and boost the modernization of the defense sector. The ceramic armor market in Middle East & Africa and Latin America is anticipated to expand at a sluggish pace during the forecast period.

Ceramic Armor Market: Key Players

Large numbers of companies operate in the global ceramic armor market. Prominent companies functioning in the ceramic armor market include Armor Works Inc., CeramTec, Ceradyne, Inc., Saint Gobain Ceramics, Coorstek Inc. Companies are focusing on research and development activities in order to strengthen their position in the market.1