During the projected period, Ballistic composites Market is estimated to grow at a CAGR of morethan 6%. The growing demand from the defence and aerospace industries is one ofthe primary drivers driving the market.
Due to increased oil and gas operations around the world,the oil and gas industry dominated the market and is predicted to risethroughout the projection period.
· The rise in defence spending and budgets in manynations, as well as the demand for lightweight materials for ballisticprotection, are anticipated to present opportunities in the future.
· North America dominated the global market, withthe United States and Canada accounting for the majority of consumption.
In 2016, the global ballisticcomposites market was worth USD 1,205.7 million. The growing demand forinnovative gadgets is expected to propel the industry forward. Over theforeseeable period, high costs connected with ballistic protective systems arelikely to stifle expansion.
The global ballistic protection market is predicted toincrease steadily throughout the projected period, owing to rising external andinternal security concerns resulting from international wars and rising combatsituations. Growing worries about enhancing army survival are predicted to havea favourable impact on product development.
Increased defence spending due to developing regionaleconomies, as well as increased competition among governments to demonstratetheir power, are likely to drive market expansion. The market is expected to bedriven by the growing demand for newer gadgets and devices as a result ofongoing technological advancements over the forecast period.
Over the forecast period, the high cost of ballisticprotective equipment is likely to limit market growth. High gear weight, whichhas a negative impact on military mobility, is also expected to stifle industryexpansion.
Efforts and spending to produce effective raw materials toincrease product performance are expected to have a significant impact. Agrowing emphasis on improving soldier survivability is likely to play asignificant effect. Growing defence spending, as well as increased competitionamong regional economies to demonstrate their defence prowess, are projected topropel the industry forward.
Over the forecast period, the market is likely to be drivenby the growing need for newer gadgets and technologies to keep up with ongoingtechnological innovation. Over the foreseeable period, high costs connectedwith ballistic protective systems are likely to stifle expansion.
The most popular type was polymer matrix composite, whichgenerated over USD 619.0 million in global revenue in 2016. Polymer is a widelyutilised product because of its low weight, high friction, and temperatureresistance qualities. PMC is used in a variety of products, includingprotective clothing, helmets, and body armour.
Ballistic composites marketare the raw materials utilised in a wide range of military products, includingvehicle armour, vests, and helmets. The impact energy caused by explosives isabsorbed by these materials. Defense and law enforcement agencies are theprimary users of these items. In addition, ballistic composites are meeting thedemand for protective gear and other modern defence gear. Aside from that, thegrowing popularity of lightweight and flexible defence armors that aid mobilitywill propel the ballistic composites sector forward.
Increased spending on defence and military activities as aresult of increased competition among countries will drive market developments.Aside from that, the growing need for new gadgets and equipment, together withcontinual technical advancements, will pave the way for the ballisticcomposites market to grow during the forecasted period. Furthermore,advantageous qualities such as superior thermal properties, high dynamic energyabsorption, and high modulus will help the company expand in the near future.
In the ballistic composites industry, head and faceprotection are showing promising trends. During armed conflicts, as well ascertain law enforcement and peacekeeping circumstances, head protection iscritical. In such a situation, the lightest possible head protection withmaximal protection against a wide range of bullets and fragments is desirable.Aramid fibres are largely employed in the aerospace and defence industries toprepare helmets.
