SAN FRANCISCO, August 1, 2017 /PRNewswire/ --
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.
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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.
Browse full research report with TOC on "Ballistic Composites Market Analysis By Product [Polymer Matrix Composite (PMC), Polymer-Ceramic Matrix Composite (CMC), Metal Matrix Composite (MMC)], By Application, And Segment Forecasts, 2015 - 2025" at: http://www.grandviewresearch.com/industry-analysis/ballistic-composites-market
Further key Findings from the Study 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.
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Grand View Research has segmented the ballistic composites market on the basis of product, application and region:
- Global Ballistic Composites Product Outlook (USD Million, 2014 - 2025)
- Global Ballistic Composites Application Outlook (USD Million, 2014 - 2025)
- Helmets & Face Protection
- Global Ballistic Composites Regional Outlook (USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Middle East and Africa
- Central & South America
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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