The new report by Expert Market Research titled, ÔGlobal Ceramic Armour Market Share, Size, Trends, Growth, Outlook, Report and Forecast 2023-2028Õ, gives an in-depth analysis of the global ceramic armour market, assessing the market based on its segments like materials, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and PorterÕs Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 2 Billion
- Forecast CAGR (2023-2028): 7.5%
- Forecast Market Size (2027): USD 3.1 Billion
The rising application of ceramic armour in the marine armour system is driving the market growth. This can be attributed to the growing need to prevent the marine soldiers from threats, terrorist attacks, explosions, military weapons, fire, hurricane or any heavy-cutting machinery.
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The growing investments towards the development of naval vessels is anticipated to boost the market growth owing to the fact that ceramic armours can save lives of people on the deck or inside the vessel.
Moreover, the growing adoption of ceramic armour by the police, commandos, security personnel and anti-terrorist forces in the emerging military powers across the world is likely to aid the market in the forecast period. Geographically, North America accounts for a significant share in the market owing to the rising military expenditure and the increasing development of light-combat aircrafts to prepare the country for asymmetric warfare.
Furthermore, the growing emphasis on homeland security in the United States of America due to the rising geopolitical tension and rising terrorism activities is likely to bolster the market growth in the region in the forecast period.
Ceramic Armour Industry Definition and Major Segments
Ceramic armour refers to an armour, which is used to prevent the body or a structure of the product, from the penetration of any foreign object. Most frequently utilised in the military and defence sector, ceramic armour augments the impeding of high-velocity projectiles. Moreover, ceramic armours are extensively utilised in machines, vehicles, and personal body armours.
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By material, the market can be segmented into:
- Boron Carbide
- Ceramic Metal Composite
- Alumina
- Silicon Carbide
- Others
The significant applications of ceramic armour include:
- Body Armour
- Aircraft Armour
- Defence Armour
- Marine Armour
- Others
The regional markets for ceramic armour include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Ceramic Armour Market Trends
The increasing inclination of the major body armour manufacturers towards utilising ceramic as an alternative to steel or alumina, owing to the lightweight, high strength, and high hardness of the material, is likely to be a key trend in the market.
The rising investments towards the optimisation of ceramic armours due to the technological advancements in aircrafts is anticipated to be another major trend in the market. Furthermore, the market growth will be aided by the technological advancements in the military and defence sector, in order to boost the war preparation in case of a war.
Key Market Players
The major players in the market are CeramTec GmbH, ArmorWorks, Ceradyne, Inc., and CoorsTek Inc., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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