The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Ceramic Armor Market.
It was estimated prior to this unanticipated outbreak that the Ceramic Armor Market was expected to grow at a CAGR of 7.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Ceramic armor is an armor used by armored vehicles and in personal armor for its attenuative features. It gives projectile resistance through its high hardness and compressive strength. It is majorly used in applications, where weight is not a constraint, owing to its lightweight property, relative to metals that are commonly used in armors.
Ceramic armor is made of different types of materials, out of which, the most commonly used materials are alumina, boron carbide, silicon carbide, and titanium diboride.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the material type, the market is segmented as alumina, boron carbide, silicon carbide, ceramic matrix composite, and others. The silicon carbide segment is estimated to account for the largest share of the market during the forecast period. The growth of this segment is owing to silicon carbide ceramic material being most widely used as shield for defending rifle bullets, by virtue of its properties, such as superior hardness and strength. In addition, as body armor made from silicon carbide offers lower weight and higher defense, the demand for silicon carbide ceramic armor is likely to increase during the forecast period.
Based on the application type, the market is segmented as body armor, aircraft armor, marine armor, vehicle armor, and others. The body armor segment is expected to be the largest application type in the ceramic armor market during the forecast period. The growth of the segment is due to body armors being used for primary application owing to their high demand, especially from law enforcement services and armed forces. Besides, the upgradation of weapons has rendered a facelift to threat effectiveness levels, which in turn, has underpinned the demand for required enhanced body armors. Also, as ceramic armor is designed to offer lightweight and comfortable mobility, it is one of the prime factors behind the increasing adoption of the body armor application.
In terms of regions, North America leads the market for ceramic armor and is estimated to maintain its dominance during the forecast period as well. The North American market is driven by the high demand for ceramic armor, majorly from the aerospace & defense industry, and from the defense as well as civilians. Also, the increase in military investments by the US government is another driving factor for the rising consumption of ceramic armor in the aircraft and vehicle armor applications. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Some of the major players in the ceramic armor market are-