1 / 4

Ballistic Protection Material Market

The global ballistic protection material market value reached USD 15,247.8 million in 2023. Over the forecast period, the value is anticipated to rise at 6.1% CAGR. The industry is predicted to surge from USD 16,070.3 million in 2024 to USD 28,965 million in 2034. It is further projected to exhibit a Y-O-Y growth of 5.4% in 2024.<br><br>Demand for ballistic protection materials is projected to remain high for use in helmets and face protection products. The recent analysis shows that the target segment is projected to thrive at a 6.1% CAGR during the assessment period.<br><br>Read More: https://www.future

Lavanya32
Download Presentation

Ballistic Protection Material Market

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Ballistic Protection Material Market MARKET OVERVIEW & GROWTH PROJECTIONS

  2. Ballistic Protection Material Market Outlook: 2024-2034  2023 Market Value: USD 15,247.8 million  Forecast Period CAGR: 6.1%  2024 Projected Market Value: USD 16,070.3 million  2034 Projected Market Value: USD 28,965 million  2024 Y-O-Y Growth: 5.4%  Key Growth Segment: Helmets and face protection (6.1% CAGR)  Material Highlight: Aramid fiber materials (42.7% volume share in 2024)

  3. Drivers of Market Growth Key Industry Highlights Cross-border Collaborations: Enhance protective gear capabilities Promote diverse business opportunities and material access Examples: •Israel-Greece Military Technology Cooperation Agreement •US-India Defense Technology and Trade Initiative •US-Japan Joint All-Domain Command and Control Initiative •Eurofighter Typhoon Program (UK, Germany, Italy, Spain) Growing Defense Budgets: High defense spending globally, led by the US at USD 876.9 billion in 2022 Increased spending by China, Russia, and India Boosts demand for advanced materials like aramid fibers, polyethylene, and composite ceramics

  4. Challenges & Future Outlook High Costs of Raw Materials •Materials: Kevlar, Dyneema, advanced ceramics •Challenges: •Complex production processes •Expensive chemicals •High manufacturing costs •Limited accessibility for cost-sensitive sectors (law enforcement, civilian protection) •Impact: •Deters small-scale manufacturers •Reduces competition and innovation •Future Needs: •Research for cost-effective alternatives •More efficient production methods •Aim for affordable and accessible advanced ballistic protection materials

More Related