Ceramic Armor Materials Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2027
Market Overview
The Global Ceramic Armor Materials Market is expected to reach USD 280 Billion in 2025 exhibiting a CAGR of 7.65% during the forecast period. The growth of the market is primarily driven by the extensive use of ceramic matrix composites (CMCs) in major end-use industries such as aerospace and vehicles armor. Ceramic matrix composites are extensively used in the manufacturing of armors used in the aerospace industry.
CMCs offer excellent wear and corrosion resistance in a wide range of environments and temperatures, high strength-to-weight ratio, high strength retention at elevated temperatures, high chemical stability, and hardness, as well as lightweight. These materials are strong and weigh one-third as metals and can operate at 2,400°Fahrenheit, i.e., 500° higher than the most advanced alloys. The ability of CMCs to withstand high temperature enables the jet engine to operate in extreme temperatures, which makes it suitable for use as an armor product.
Increasing demand for ballistic ceramic materials in fuel-efficient and lightweight military aircraft for counterterrorism and homeland security purpose is a key factor projected to boost the demand for the ceramic armor materials. For instance, the US Geological Survey reported that the global aircraft fleet is projected to double over the next 20 years. According to the Bureau of the Census, US Department of Commerce, and Foreign Trade Division, the total US aerospace exports stood at USD 150.61 billion by the end of 2018, which was around 143.17 billion in 2017. The five major destinations for the US aerospace exports in 2018 were China, France, the UK, Canada, and Germany. Thus, the growth of the aerospace armor is expected to increase the demand for CMCs and drive the growth of the global ceramic armor materials market during the forecast period.
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Regional Analysis
The North American ceramic armor material market is likely to exhibit remarkable growth owing to increasing spending on the defense sector by the government authorities. The region is witnessing an increase in the number of exports of defense products, i.e., boron carbide bulletproof vest, which is further propelling the demand for boron carbide body armor for manufacturing, during the forecast period. Europe market is led by UK aviation and defense industry, it is one of the largest exporters and manufacturers of defense products such as boron nitride armor and titanium boride armor, which is driving regional market growth. The Asia-Pacific market is likely to witness steady growth owing to rising threats of the terrorist attack in the region. The governments of countries such as India, China, and Japan are investing in the manufacturing of defense products to combat terrorist attack when needed, thus surging market growth.
The Middle East & African and Latin American markets are likely to register healthy CAGRs during the forecast period.
Market Segmentation
Based on material, the global market has been segmented into boron carbide, silicon carbide, alumina, ceramic matrix composite, titanium boride, aluminum nitride, and others. By application body armor, aircraft armor, marine armor, vehicles armor, and others. The ceramic matrix composites segment is estimated to register a significant CAGR owing to the high demand in a wide range of applications. The body armor is projected to be the fastest-growing segment of the global ceramic armor material market.
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Competitive Analysis
Some of the leading players operating in the global ceramic armor materials market are 3M (US), Saint-Gobain (France), BAE Systems (UK), CoorsTek, Inc (US), Axiom Materials, Inc (US), Morgan Advanced Materials PLC (UK), Ultramet (US), Safariland, LLC (US), Ceramtec (Germany), and CFC Carbon Co, Ltd (China), among others.
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