The global ballistic composites market is expected to reach
USD 2.18 billion by 2025, according to a new report by Grand View Research,
Inc. Unstable geopolitical relations, increasing cross-border tensions have
forced nations to strengthen their defense units. Providing lightweight,
efficient and advanced combat equipment has been on top priorities of most of
the developed as well as developing countries. This has triggered the use of
ballistic composites over the past few years.
Several factors, like the
propensity of the composite armor of supporting the weight of an externally
attached component, anchoring composite armor with a platform, safeguarding of
ballistic weaknesses at panel joints and corners are taken into consideration
while product designing and production are executed.
Ballistic vests are envisioned to
deflect bullets from several types of guns, while armored vehicles must
withstand projectiles, shells fired from tanks and roadside bombs. The layout
of ballistic materials thus presents challenges familiar to any composites
manufacturer.
North America is slated to
account for larger market share. Active involvement of the U.S. military to
counter terror threats is expected to fuel the product demand. Rising pressure
on the U.S. government to maintain its military dominance is also expected to
drive the regional market.
The key value chain components
for the ballistic protective equipment market include raw material suppliers,
ballistic equipment manufacturers, and end-users. The raw material suppliers
form the first component in the value chain and provide various metals,
materials, and fabrics required for producing ballistic protection suits.
Major companies in the global
ballistic composites market include DuPont, Teijin, DSM and Honeywell
International. The market can be characterized by increasing R&D spending
and continuous efforts for new product development.
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Browse full research report on
Ballistic
Composites Market
Further key findings from
the report suggest:
- Asia Pacific
is expected to emerge as the fastest growing market in terms of product
technology upgradation. Rising awareness in this region pertaining the
life of deployed soldiers and vehicles is likely to trigger government
budgets allocated for defense.
- North America
is likely to emerge the largest market for ballistic composites on account
of favorable government budgets, policies and regulations pertaining
defense initiatives.
- Polymer
matrix composite is expected to experience a significant growth on account
of their low cost and simple fabrication methods. Its significance lies in
its ability to grow fatter and short upon being heated.
- During the
forecast period, ballistic composites market is expected to be majorly
driven by armor applications in body vests and defense vehicles.
For
more information: http://www.grandviewresearch.com
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