The global ballistic composites market is projected to reach $165.2 million by 2028, at a CAGR of 5.3% during 2023-2028. The growth of ballistic composites market is driven by growing demand for environment-friendly components, increasing demand for lightweight and flexible armor to enable mobility, and rising demand for innovative gadgets.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the ballistic composites market by fiber (aramid fiber, UHMWPE fiber, S-glass fiber, and others), application (vehicle armour, body armour, helmet, face protection, and others), platform (land, marine, and airborne), product (polymer matrix composite, ceramic matrix composite, and metal matrix composite), end use industry (military, homeland security, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the ballistic composites market?
Q.4 What are some changing demands of customers in the ballistic composites market?
Q.5 What are the new developments in the ballistic composites market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this ballistic composites area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this ballistic composites market?
Based on product, the ballistic composites market is segmented into polymer matrix composite, ceramic matrix composite, and metal matrix composite. The polymer matrix composite segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its properties like low weight, high friction, and temperature resistance.
North America will remain the largest region due to the rising advancement in technology, growing modernization of fighter jet fleet and other military vehicles and growing investment by the government towards military sector in the region.
Key Players in the ballistic composites market are Honeywell International, BAE Systems, Royal Ten Cate, Koninklijke DSM, Gurit Holdings, Dupont De Nemours, and Teijin.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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