[133 Pages Report] The ballistic composites market was valued at USD 1.20 billion in 2015 is projected to reach USD 1.80 billion by 2021 at a CAGR of 7.12% from 2016 to 2021. In this study, 2015 has been considered as the base year, while the forecast period is from 2016 to 2021.

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Some of the key global players in the ballistic composites market are Honeywell International Inc. (U.S.), Royal Ten Cate NV (Netherlands), BAE Systems (U.K.), DSM (Netherlands), Gurit (Switzerland), DuPont (U.S.), Teijin (Japan), Morgan Advanced Materials (U.K.), CoorsTek Inc.(U.S.), Southern States LLC (U.S.), Barrday Corporation (Canada), Solvay (Belgium), and 3M (U.S.), among others. These players have strong business strategies and product offerings for the ballistic composites market.

Drivers

Rising demand in personal protection
Increasing threat from growing internal and external conflicts
Need for lightweight, comfortable, and high strength materials
Opportunities

Increasing R&D and mass production of ballistic fibers
Evolution and adoption of new technologies and products
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Aramid fiber comprises a major share in the ballistic composites market in terms of value and volume

Aramid fiber has the largest share in the global ballistic composites market and the market for aramid fiber ballistic composites is projected to grow at the highest CAGR in terms of both, value and volume. Aramid fibers are strong synthetic fibers with high heat-resistant properties. These fibers are extensively used for the body armor application. The high dynamic energy absorption characteristics, high modulus, high specific strength, and excellent thermal properties is leading to the growth of aramid fiber in the ballistic composites market.

The major share in the ballistic composites market is owned by polymer matrix

Polymer matrix used in ballistic applications have low weight, high friction, and temperature resistance properties. Polymer matrix ballistic composites are considered the material of choice for various applications such as body vest, protective garments, and helmets. Owing to the advantageous properties offered, polymer matrix composites were estimated to be the largest segment of the ballistic composites market in 2015, by value as well as volume.

Ballistic composites are largely used in the vehicle armor application

The vehicle armor application led the global ballistic composites market and accounted for the largest share in terms of value and volume, both for the year 2015. Vehicle armor is equipped with ballistic composites to ensure high level protection against ballistic impacts and to provide high protection to the lives of military personnel in these vehicles. Owing to the high level of safety provided by the use of ballistic composites, it is largely utilized for the vehicle armor application.

North America is a major region driving the ballistic composites market

North America accounted for the largest market share in ballistic composites, globally, in 2015. The growth of the ballistic composites market in this region is driven mainly by established players in this region. High spending by the military industry on maintenance of security, and stringent standards by the U.S. government emphasizing the safety of the defense forces is another major reason leading to the high growth of the ballistic composites market in North America. For instance, high spending of the U.S government on several military programs such as Armored Multipurpose Vehicle (AMPV) Joint Light Tactical (JLTV) program and others are expected to drive the demand for ballistic composites in the defense sector in North America.

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