Ballistic Composites Market Demand, 2022-2028

1. Ballistic Composites Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2022-2028

2. Global Ballistic Composites Market - Industry Trends & Forecast Report, 2028 BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates global ballistic composites market size at USD 1.82 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects global ballistic composites market size to grow at a significant CAGR of 11.4% reaching a value of USD 3.86 billion by 2028. The rising need and demand for lightweight, comfortable, and high-strength materials, the expansion of ballistic fiber research, development, and mass production, and the growing threat posed by expanding internal and external conflicts are the main drivers of the ballistic composites market's growth. The growing demand for personal protection products is driving the growth of the ballistic composites market.

3. Growth Drivers  Surging demand for personal protection care The demand for personal protection products is growing, which is what is driving the market growth for ballistic composites. The market for ballistic composites will see additional lucrative growth opportunities because of rising defense and military equipment spending intended to strengthen the defense sector. The demand for ballistic composites will continue to increase as combat weapons and explosives technology advances. Ballistic composite demand will rise due to the rising demand for flexible, lightweight armor that facilitates easy mobility.

4. Restraints  Complexities involved in designing the protective equipment The complexity of designing protective gear will be a significant obstacle to the market for ballistic composites' rate of growth. Ballistic composites are expensive, and the government has strict regulations that limit their use, which will further limit this market's potential for growth. The growth rate of the ballistic composites market will be further slowed down if the protective equipment is unable to offer complete protection. Sample Copy of the Report: https://www.blueweaveconsulting.com/report/ballistic-composites-market/report-sample

5. Impact of COVID-19 The COVID-19 outbreak posed several challenges for the defense industry. Manufacturing facilities and supply chains were affected. Defense equipment and related services were in short supply. Supply-side shocks were among the most visible consequences of the pandemic's impact on the defense industry. Companies located in virus-affected countries or those reliant on supply chains located in affected countries were the immediate victims of the pandemic. Countries had effectively closed their manufacturing units, putting pressure on equipment manufacturers. Major countries, such as the US and India, import raw materials and electronic components from China, affecting the supply chain of many equipment and product manufacturers. The market growth improved in 2021, with the market regaining its original traction by 2022.

6. By Region Geographically, global ballistic composites market covers five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America held the highest share. North America is expected to grow at a significant ate. The market's pace is being set by seasoned players in this sector. Another factor contributing to North America's explosive growth is the military sector's increased spending on security maintenance and the US government's strict regulations, which place a high priority on the safety of the armed forces. 

7. Competitive Landscape Global ballistic composites market is fiercely competitive. Prominent players in the market include Honeywell International Inc., BAE Systems, TenCate Protective Fabrics, Koninklijke DSM N.V., Gurit, DuPont, TEIJIN LIMITED, Morgan Advanced Materials plc, Southern States, LLC, Barrday Inc., Plastic Reinforcement Fabrics Ltd, Gaffco Ballistics, M Cubed Technologies, FY-Composites, ARMORSOURCE, LLC, Elmon, and JPS Composite Materials. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

8. Recent Development In 2019 - United Shield, a leading manufacturer of personal ballistic and fragmentation protection equipment, launched the E.R.T shield. The product is delivered in various US firearm units, as it has satisfied the requirement for a lighter, more versatile ballistic shield without degrading the product’s strength, integrity, and toughness.

9. Key Players Honeywell International Inc., BAE Systems, TenCate Protective Fabrics, Koninklijke DSM N.V., Gurit, DuPont, TEIJIN LIMITED, Morgan Advanced Materials plc, Southern States, LLC, Barrday Inc., Plastic Reinforcement Fabrics Ltd, Gaffco Ballistics, M Cubed Technologies, FY-Composites, ARMORSOURCE, LLC., Elmon, JPS Composite Materials

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