Armor Materials Market Size (2024 - 2029)

The armor materials market is projected to experience significant growth over the forecast period, driven by the development of body armor and advanced weapons, alongside increasing homeland security concerns. Despite challenges such as high production costs, the market is expected to benefit from rising defense budgets and military modernization programs. North America currently holds the largest market share and is anticipated to maintain its dominance. The market's expansion was notably supported during the pandemic as many manufacturers adapted to continue production, ensuring a steady supply to meet demand.

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Market Size of Armor Materials Industry

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Armor Materials Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 13.59 Billion
Market Size (2029) USD 19.09 Billion
CAGR (2024 - 2029) 7.03 %
Fastest Growing Market North America
Largest Market North America

Major Players

Armor Materials Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Armor Materials Market Analysis

The Armor Materials Market size is estimated at USD 13.59 billion in 2024, and is expected to reach USD 19.09 billion by 2029, growing at a CAGR of 7.03% during the forecast period (2024-2029).

Due to COVID-19-related lockdown restrictions, many manufacturing industries came to a halt. However, several armor manufacturing companies, such as TenCate Advanced Armor and NP Aerospace, continued to run their production by re-organizing, ensuring the safety of employees, and following government regulations to provide continuous supply to customers. Such unhindered production boosted the armor materials market during the pandemic.

  • Over the short term, the development of body armor and advanced weapons and increasing homeland security concerns are major factors driving the growth of the market studied.
  • However, high cost of production of defense products are likely to restrain the growth of the studied market.
  • Nevertheless, increasing defense budget and rising military modernization programs are likely to create lucrative growth opportunities for the global market soon.
  • North America dominated the market, holding the largest share, and is expected to dominate the market during the forecast period.

Armor Materials Industry Segmentation

An armor is a defensive covering used to prevent damage against damage inflicted by humans or projectiles, as well as damage caused by a hazardous environment or operation. Personal armor is used to protect soldiers and war animals. Vehicle armor is used on armored fighting vehicles and warships. The armor materials market is segmented by product type, application, and geography. By product type, the market is segmented into metal and alloy, ceramic and composite, para-aramid fiber, ultra-high-molecular-weight polyethylene, and other product types. By application, the market is segmented into aerospace, body armor, civil armor, marine armor, and vehicle armor. The report also covers the market size and forecasts for the armor materials market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).

Product Type
Metal and Alloy
Ceramic and Composite
Para-aramid Fiber
Ultra-high-molecular-weight Polyethylene
Other Product Types (Including Fiber Glass, etc.)
Application
Aerospace
Body Armor
Civil Armor
Marine Armor
Vehicle Armor
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa
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Armor Materials Market Size Summary

The armor materials market is poised for significant growth, driven by the increasing demand for body armor and advanced weaponry, alongside heightened homeland security concerns. Despite challenges such as the high cost of production for defense products, the market is expected to benefit from rising defense budgets and military modernization programs. North America currently holds a dominant position in the market, largely due to the United States' substantial military expenditure and its focus on addressing terrorism-related security threats. The ongoing geopolitical tensions and the need for robust defense capabilities are further propelling the demand for armor materials, with the body armor segment anticipated to lead the market during the forecast period.

The market landscape is characterized by a few key players, including DuPont, Teijin Aramid B.V., TenCate Protective Fabrics, NP Aerospace, and Honeywell International Inc. These companies are actively innovating and expanding their product offerings to meet the growing demands of the defense sector. For instance, DuPont recently introduced advanced materials like Kevlar and EXO aramid fiber, which are designed to provide superior protection and flexibility under demanding conditions. Similarly, NP Aerospace is expanding its business units to enhance its personal protection and platform armor product lines. Such strategic initiatives by leading companies are expected to sustain the market's growth trajectory, as they continue to address the evolving needs of military and defense applications globally.

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Armor Materials Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Development of Body Armor and Advanced Weapons

      2. 1.1.2 Increasing Homeland Security Concerns

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Cost Of Production Of Defense Products

      2. 1.2.2 Others

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Product Type

      1. 2.1.1 Metal and Alloy

      2. 2.1.2 Ceramic and Composite

      3. 2.1.3 Para-aramid Fiber

      4. 2.1.4 Ultra-high-molecular-weight Polyethylene

      5. 2.1.5 Other Product Types (Including Fiber Glass, etc.)

    2. 2.2 Application

      1. 2.2.1 Aerospace

      2. 2.2.2 Body Armor

      3. 2.2.3 Civil Armor

      4. 2.2.4 Marine Armor

      5. 2.2.5 Vehicle Armor

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Rest of Middle East and Africa

Armor Materials Market Size FAQs

The Armor Materials Market size is expected to reach USD 13.59 billion in 2024 and grow at a CAGR of 7.03% to reach USD 19.09 billion by 2029.

In 2024, the Armor Materials Market size is expected to reach USD 13.59 billion.

Armor Materials Market Report Snapshots

Armor Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)