Armor Market: Industry Analysis and Forecast (2021-2027) by Material, and Application.

Armor Market size was valued at US$ 38.97 Bn in 2020 and the total revenue is expected to grow at CAGR 6.27% through 2021 to 2027, reaching nearly US$ 59.65 Bn.

Armor Market Overview:

An armor is a protective covering with the ability to absorb the impact of projectiles or another weapon on an object, individual, or vehicle. With the rise of terrorism and the use of powerful weapons by terrorists and criminals, the armor materials are used by police, military force private non-military security forces, and non-combatants to safeguard themselves. The use of nanotechnology materials and fibers in the manufacturing of lightweight and flexible armor is projected to be the driving factor for Armor Market during the forecast period. Armor Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.

Armor Market Dynamics:

Growing conflicts across different regions, insurgency, political unrest and instability, incidences of terrorism worldwide have driven military and law enforcement forces, and the materials science community to develop effective solutions that can ensure security. In addition, political conflicts in Israel, Palestine, Syria, Egypt, Libya, Iraq, Afghanistan, Russia-Ukraine, India- Pakistan, and India-China, Russia-Turkey, and Columbia-Peru, are increasing the necessity for advanced armor. These factors are driving the demand for protective equipment, resulting in significant growth in the Armor market. Thanks to increasing military expenditure from various countries governments, resulting in the growth of the armor market. . According to new data published in 2021 by the Stockholm International Peace Research Institute (SIPRI), total global military expenditure rose to $1981 billion in 2020, an increase of 2.6% as compared to 2019. The five biggest spenders in 2020, are the United States, China, India, Russia, and the United Kingdom which together accounted for 62% of global military expenditure. Budget spending on military by China grew for the 26th consecutive year. Such initiatives from leading countries are expected to positively impact the armor market growth. The high cost of production of defense products is expected to hinder the market's growth to some extent. The production and application of armor are regulated by government agencies, so regulation imposed by government agencies controls the production and sales of armor.

Armor Market Segment Analysis:

Based on the Material, the market is segmented into Metals and Alloys, Ceramics, Composites, Para-aramid Fiber, Ultra-high-molecular-weight Polyethylene, Fiberglas, and Others. The Metals and Alloys captured the largest market share, accounted for 32.79% of the market in 2020. The growing application of metals and alloys in military armor is expected to drive market growth. Metals such as high-density steel, aluminum, and titanium, coupled with their alloys, are used as armor materials for vehicle, aerospace, and marine armor systems. The properties like low density, high corrosion resistance, and lightweight metals and alloys are beneficial in the production of armor material, which drives the market growth. The Ceramic segment is expected to witness the fastest CAGR of 8.2% during the forecast period. Ceramic materials have low density, high hardness, high elastic modulus, good comprehensive strength, and sufficient flexure. The growth of the Ceramic segment is due to the increased necessity of ceramic materials used in the manufacturing of armor materials. Armor Market Based on Application, the market is segmented into Vehicle Armor, Body Armor, Aerospace Armor, and Marine Armor. The body Armor segment has dominated the market accounted for 33.26 % in 2020. The increasing security concerns in the emerging economies like, India, China, Brazil, and South Korea and to protect law enforcement and military personnel, resulting in high demand for body armor. A large number of active military personnel in the countries also require the acceptance of body armor for safeguarding the personnel. The significant growth of weapons and ammunition is also a driving factor for the growth of the body armor segment. The vehicle segment has dominated the Armor Market and accounted for the value of 25.77 Bn during 2020. The vehicle segment is expected to grow a CAGR of 6.1% during the forecast period. The rise in the instances of cross-border conflicts and increasing incidences of warfare across the globe are major factors driving the growth of the armored vehicles market. The US defense department has announced its plans to spend about USD 1.4 billion on manufacturing lightweight tanks during the forecast period. Armor Market

Armor Market Regional Insights:

Asia Pacific region held the largest market share accounting for 31.29% in 2020 and is expected to grow with a CAGR of 6.9% during the forecast period. Increasing defense budgets in countries like India and China are driving the Global Armor Market growth in the Asia Pacific region. In the year 2020, the government of India has allocated a budget of US $ 72 Bn for the defense sector, While China has allocated 252Bn. Moreover, the modernization of military programs across countries such as China, India, Japan, and South Korea, is expected to drive the market demand for armor materials. North America is a major customer and manufacturer of the Armor market and held a 28.71% market share in 2020. Development in military and defense technology in the U.S. and Canada is boosting the armor market growth in the North America region. The U.S. has spent US$ 778 Bn on the military department in 2020, which accounted for 39% of total spending on military worldwide. According to the U.S. Congressional Budget Office, the budget for defense is expected to rise from 596 billion U.S. dollars in 2014 to 915 billion U.S. dollars by 2031. The objective of the report is to present a comprehensive analysis of the Armor Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Armor Market dynamic, structure by analyzing the market segments and project the Armor Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Armor Market make the report investor’s guide.

Armor Market Scope: Inquire before buying

Global Armor Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 38.97 Bn.
Forecast Period 2021 to 2027 CAGR: 6.27% Market Size in 2027: US $ 59.65 Bn.
Segments Covered: by Material • Metals and Alloys • Ceramics • Composites • Para-aramid Fiber • Ultra-high-molecular-weight Polyethylene • Fiberglass • Others
by Application • Vehicle Armor • Body Armor • Aerospace Armor • Marine Armor

Geothermal Power Market, by Region

• North America • Europe • Asia Pacific • South America • The Middle East and Africa

Armor Market Key Players

• BAE Systems • Ballistic Body Armor Ltd • Du Pont De Nemours and Company • 3M Ceradyne Inc. • Morgan Advanced Materials PLC • SAAB AB • Craig International Ballistics Pty Ltd. • Aegis Engineering Ltd. • AR500 Armor • Honeywell International Inc • Saint-Gobain • Koninklijke ten cate Bv. • ATI • Ceramtec • CoorsTek, Inc.

Frequently Asked Questions:

1] What segments are covered in the Armor Market report? Ans. The segments covered in the Armor Market report are based on Material and Application. 2] Which region is expected to hold the highest share in the Armor Market? Ans. Asia Pacific region is expected to hold the highest share in the Armor Market. 3] What is the market size of Armor Market by 2027? Ans. The market size of Armor Market by 2027 is US $ 59.65 Bn. 4] Who are the top key players in the Armor Market? Ans. BAE Systems, Ballistic Body Armor Ltd, Du Pont De Nemours and Company, 3M Ceradyne Inc., Morgan Advanced Materials PLC, SAAB AB, Craig International Ballistics Pty Ltd., Aegis Engineering Ltd., AR500 Armor, Honeywell International Inc, Saint-Gobain, Koninklijke ten cate Bv., ATI, Ceramic, and CoorsTek, Inc. 5] What was the market size of Armor Market in 2020? Ans. The market size of Armor Market in 2020 was US $ 38.97 Bn.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Armor Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Armor Market 3.4. Geographical Snapshot of the Armor Market, By Manufacturer share 4. Global Armor Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Armor Market 5. Supply Side and Demand Side Indicators 6. Global Armor Market Analysis and Forecast, 2020-2027 6.1. Global Armor Market Size & Y-o-Y Growth Analysis. 7. Global Armor Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 7.1.1. Metals and Alloys 7.1.2. Ceramics 7.1.3. Composites 7.1.4. Para-aramid Fiber 7.1.5. Ultra-high-molecular-weight Polyethylene 7.1.6. Fiberglass 7.1.7. Others 7.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 7.2.1. Vehicle Armor 7.2.2. Body Armor 7.2.3. Aerospace Armor 7.2.4. Marine Armor 8. Global Armor Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Armor Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 9.1.1. Metals and Alloys 9.1.2. Ceramics 9.1.3. Composites 9.1.4. Para-aramid Fiber 9.1.5. Ultra-high-molecular-weight Polyethylene 9.1.6. Fiberglass 9.1.7. Others 9.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 9.2.1. Vehicle Armor 9.2.2. Body Armor 9.2.3. Aerospace Armor 9.2.4. Marine Armor 10. North America Armor Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Armor Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 11.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 12. Canada Armor Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 12.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 13. Mexico Armor Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 13.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 14. Europe Armor Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 14.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 15. Europe Armor Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Armor Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 16.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 17. France Armor Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 17.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 18. Germany Armor Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 18.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 19. Italy Armor Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 19.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 20. Spain Armor Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 20.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 21. Sweden Armor Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 21.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 22. CIS Countries Armor Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 22.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 23. Rest of Europe Armor Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 23.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 24. Asia Pacific Armor Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 24.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 25. Asia Pacific Armor Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Armor Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 26.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 27. India Armor Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 27.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 28. Japan Armor Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 28.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 29. South Korea Armor Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 29.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 30. Australia Armor Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 30.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 31. ASEAN Armor Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 31.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 32. Rest of Asia Pacific Armor Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 32.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 33. Middle East Africa Armor Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 33.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 34. Middle East Africa Armor Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Armor Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 35.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 36. GCC Countries Armor Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 36.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 37. Egypt Armor Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 37.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 38. Nigeria Armor Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 38.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 39. Rest of ME&A Armor Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 39.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 40. South America Armor Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 40.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 41. South America Armor Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Armorial 41.1.2. Argentina 41.1.3. Rest of South America 42. Armorial Armor Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 42.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 43. Argentina Armor Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 43.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 44. Rest of South America Armor Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Material, 2020-2027 44.2. Market Size (Value) Estimates & Forecast By Application, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Armor Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. BAE Systems 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Ballistic Body Armor Ltd 45.3.3. Du Pont De Nemours and Company 45.3.4. 3M Ceradyne Inc. 45.3.5. Morgan Advanced Materials PLC 45.3.6. SAAB AB 45.3.7. Craig International Ballistics Pty Ltd. 45.3.8. Aegis Engineering Ltd. 45.3.9. AR500 Armor 45.3.10. Honeywell International Inc 45.3.11. Saint-Gobain 45.3.12. Koninklijke ten cate Bv. 45.3.13. ATI 45.3.14. Ceramtec 45.3.15. CoorsTek, Inc. 46. Primary Key Insights

About This Report

Report ID 124378
Category Consumer Goods & Services
Published Date Oct 2021
Updated Date
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