Ballistic Composite Market Growth, Trade, Sales Forecast 2017-2025
Posted: Dec 29, 2017
Ballistic composites have been used in projectile components such as in rockets or bullets that are fired from weapons. This type of composite material has been used with gravitational force only. The global ballistic composite market is expected to see a steady growth rate during the forecast period.
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Ballistic composite witnesses growing usage in military and defense applications. This material is light weight and has high strength and owing to these features witnesses growing demand over time. Developed as well as emerging economies such as India and China have increased their budgetary allocation for defense spending, These countries spend a large portion of their total earning in defense materials. Rising investment in defense products increases the demand for ballistic composite in these economies. Ballistic composites have been substantially used in armor vehicles, body armor equipment such as armor vests, helmets, and others. Ballistic composites offer heat resistant properties and these features help to increase the demand for ballistic composites in war field and in any adverse situation. With the rising usability of these products by military and law enforcement departments, the market prospects of ballistic composites is expected to experience a steady growth rate during the forecast period.
Ballistic composites are able to absorb moisture and this limits its efficiency while being used as armor products. Hence, ballistic composites are more sensitive to the environment than glass and other materials and this factor hinders the growth prospect of this market. Moreover, ballistic composite products are relatively costly and this is also likely to retrain the growth prospect of this market over the forecast period.
The global ballistic composite market is segmented into four types on the basis of fiber type and the segments are Aramid, UHMPE, glass, and others. Aramid fiber held the dominant market share and this segment is expected to be the fastest growing over the forecast period. Aramid fiber offers high strength and has heat resistant properties as well. This fiber is long and made from synthetic. As this is made from synthetic, it provides high tension, strength, and good thermal condition which increase its applicability in body armor products.
Based on matrix type, the global ballistic composite market is segmented into three types - polymer, polymer ceramic, and metal. Ballistic composite based on polymer matrix held the leading market share in 2016. This type of matrix offers high friction, low weight, and temperature resistance properties. These features increase its applicability in body armor equipment such as helmet, body protective garments, and others. These features will help to boost the market share of the global ballistic composite market during the forecast period.
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According to application, the global ballistic composite market is segregated into four types - vehicle armor, helmet and face protection, body armor, and others. Vehicle armor held the largest market share in the global ballistic composite market. This type of vehicle armor provides protection against ballistic impact and provides greater safety to military personnel. These products find their maximum application during wartime as military personnel can be protected with the help of these products.
On the basis of geographic locations, the global ballistic composite market is divided into five regions. These include North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America held the largest share in the global ballistic composite market owing to the high investment in military spending and implementation of safety measures by the U.S. government. The U.S. military uses large amounts of ballistic composites as military equipment to save the lives of military personnel and this is expected to drive the demand for ballistic composites in this region during the forecast period.
Some of the key market players in the ballistic composite market include Honeywell International Inc., Royal Ten Cate NV, Morgan Advanced Materials, Barrday Corporation, and Southern States LLC.
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