The report "Global Ballistic Composites Market, By Fiber Type (Aramids, Ultra-High-Molecular Weight Polyethylene (UHMPWPE), S-Glass, and Others), By Matrix Type (Polymer, Polymer-Ceramic, and Metal), By Application (Vehicle Armor, Body Armor, Helmet and Face Protection, and Others), and Region - Global Forecast to 2024" global ballistic composites market is projected to grow from US$ 2 billion by 2019. Major factors fostering the growth of ballistic composites include regional disputes, riots, warfare situations and increasing terrorism across the globe. Expansion of military forces and increasing use of advanced technology in weapon production fosters the growth of ballistic composites market. The demand for lightweight materials for protection against ballistic threats are likely to act as opportunities in the future

Key Highlights:

In January 2020, Honeywell Unveils Spectra Shield® 6166 For Increased Protection in Hard Body Armor.
In July 2019, XTEK Ltd signed an agreement to acquire HighCom Armor Solutions, Inc., a provider of personal protective equipment and body armour. The products sold by HighCom are certified by the National Institute of Justice.
Key Market Insights from the report:

The global ballistic composites market accounted for US$ 2 billion in 2019 and is projected to register a moderate CAGR of 6.50% over the forecast period. The market report has been segmented on the fibre type, matrix type, application, and region.

By fibre type, the aramid fibre segment is expected to hold the largest market share due to its growing use in helmets, vests and shields
By matrix type, the polymer matrix dominated in this segment, as it has low weight, high friction, and temperature resistance properties.
By application, vehicle armour is expected to account the highest revenue share, due to increasing warfare across the world.
By region, North America is projected to lead the global ballistic composites market and is expected to remain dominant during the forecast period, due to the growing aerospace and defence industrial activities.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Ballistic Composites Market”, By Fiber Type (Aramids, Ultra-High-Molecular Weight Polyethylene (UHMPWPE), S-Glass, and Others), By Matrix Type (Polymer, Polymer-Ceramic, and Metal), By Application (Vehicle Armor, Body Armor, Helmet and Face Protection, and Others), and by Region – global forecast till 2030

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The prominent player operating in the global Ballistic Composites market includes Honeywell International Inc., BAE Systems, Royal Ten Cate NV, DSM, Gurit, Dupont, Teijin, Morgan Advanced Materials, Southern States LLC, Barrday Corporation.

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