Mar 12, 2019   SOURCE: BusinessWire

The Worldwide Market for Ballistic Composites, 2019: Analysis by Fiber Type, Matrix Type, Application and Geography - ResearchAndMarkets.com

The "Ballistic Composites Market - Segmented by Fiber Type, by Matrix Type (Polymer, Polymer-Ceramic, Metal), by Application (Vehicle Armor, Body Armor, Helmet & Face Protection, Fishing Line), and Geography - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The ballistic composites market is expected to register a healthy growth rate, during the forecast period (2018-2023). Rise in defense expenditure of many countries and increasing demand of lightweight materials in the aerospace & defense industry are expected to drive the market, through the forecast period.

Rise in Defense Spending by Many Countries

Ballistic composites are being used in numerous applications, due to its beneficial mechanical properties, such as high strength, impact resistivity, abrasion thermal degradation resistance, etc. Aramid fiber and UHMWPE (Ultra-High-Molecular-Weight Polyethylene) is used in protective clothing. It is also used in stab-resistant products, such as protective gloves and helmets. These fibers, when used in clothing, imparts several properties, such as high strength, lightweight, cut-resistivity, and high energy absorption into the clothing material.

It also provides resistance from heat and flames and does not melt or adhere to the skin. With an increase in the recruitment of army personnel, countries are considering new and advanced uniforms and bullet-proof jackets. For instance, the Indian military is planning to provide advanced equipment, such as glove, knee guards, bulletproof jackets, etc. This increase in defense expenditure, by countries, is expected to contribute to the demand for ballistic composites, during the forecast period.

Vehicle Armor - The Dominating Application for Ballistic Composites Market

Due to strict environmental regulations related to emissions and better fuel efficiency, the trend of weight reduction in the automobile is increasing. In comparison to other structural metallic materials that are presently dominant, such as steel, iron, and aluminum. The industry is currently taking advantage of the potential of these composites for their lightweight characteristic.

The benefits of light-weighting can be translated into the potential savings of 8 million metric ton of CO2 per year, in the EU. This was calculated using a theoretical 33% weight reduction on a 10% volume of the entire EU fleet. They are used for fishing rods, body, floor, and wall composite materials of automobiles. With the increasing demand for automobiles, especially the high-end ones, the market for ballistic composites is expected to grow at a steady pace, during the forecast period.

Europe to Lead the Ballistic Composites Market

The European Union has decided to increase its defense budget, with EUR 1.5 billion in funding for defense, EUR 0.5 billion in funding for military research, and EUR 1 billion for development and acquisition. France too has added EUR 1.8 billion funding to its 2018 defense budget, which is expected to reach EUR 34.2 billion as part of a planned rise in military spending, over the next five years.

With defense spending increasing through the years, the use of protective gear in defense too will rise, thus driving the market for ballistic composites in the defense sector. These positive trends in the European region are expected to drive the growth of the market studied, over the forecast period.

Ballistic Composites Market Major Players:

  • BAE Systems
  • Barrday Corporation
  • Royal DSM N.V.
  • Honeywell International Inc.
  • Morgan Advanced Materials
  • Royal Ten Cate N.V.
  • Teijin Limited

Topics Covered

1. Introduction

1.1 Scope of the Report

1.2 Market Definition

1.3 Study Assumptions

1.4 Study Deliverables

1.5 Research Phases

2. Executive Summary

3. Ballistic Composites Market Insights

3.1 Industry Value Chain Analysis

3.2 Industry Attractiveness - Porter's Five Forces Analysis

3.3 Patent Analysis

4. Market Dynamics

4.1 Ballistic Composites Market Drivers

4.1.1 Rise in Defense Expenditure of Many Countries

4.1.2 Increasing Demand of Lightweight Materials in the Aerospace & Defense Industry

4.2 Ballistic Composites Market Restraints

4.2.1 Need for High Investments in R&D

4.2.2 Other Restraints

4.3 Ballistic Composites Market Opportunities

4.3.1 New Technology Inventions in Wind Energy Sector

5. Market Segmentation and Analysis (Market Size, Share, and Forecast)

5.1 Ballistic Composites Market By Fiber Type

5.1.1 Aramids

5.1.2 UHMWPE (Ultra-High-Molecular Weight Polyethylene)

5.1.3 S-Glass

5.1.4 Others

5.2 Ballistic Composites Market By Matrix Type

5.2.1 Polymer

5.2.2 Polymer-Ceramic

5.2.3 Metal

5.3 Ballistic Composites Market By Application

5.3.1 Vehicle Armor

5.3.2 Body Armor

5.3.3 Helmet & Face Protection

5.3.4 Fishing Line

5.3.5 Others

6. Ballistic Composites Market Regional Analysis (Market Size, Share, and Forecast)

6.1 Asia-Pacific Ballistic Composites Market (2018-2023)

6.2 North America Ballistic Composites Market (2018-2023)

6.3 Europe Ballistic Composites Market (2018-2023)

6.4 South America Ballistic Composites Market (2018-2023)

6.5 Middle East & Africa Ballistic Composites Market (2018-2023)

7. Ballistic Composites Market Competitive Landscape

7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements

7.2 Market Share Analysis

7.3 Strategies Adopted by Leading Players

8. Ballistic Composites Market Company Profiles

8.1 BAE Systems

8.2 Barrday Corporation

8.3 Royal DSM NV

8.4 Gaffco Ballistics

8.5 Gurit Holding AG

8.6 Honeywell International Inc.

8.7 M Cubed Technologies Inc.

8.8 MKU Limited

8.9 Morgan Advanced Materials

8.10 PRF Composite Materials

8.11 Royal Ten Cate NV

8.12 Southern States LLC

8.13 Teijin Limited

8.14 Waco Composites

For more information about this report visit https://www.researchandmarkets.com/research/bw4532/the_worldwide?w=4