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Ballistic Composites Market expected to grow at a CAGR of 7.55% in the forecast period
As of 2018, the ballistic composites market collected revenue avenue of $1.5 billion, which is expected to grow at a CAGR of 7.55% in the forecast period 2019-2025.

Ballistic Composites Mrkt, 10/11/2019 - Research and development are not only limited to innovations in technologies. The mounting concern for defense and doubling expenditure budget on the same by various countries is also leading to R&D. Furthermore, the requirement for lightweight materials to conserve energy is being rampantly looked after. All these components are leading to the rising demand for ballistic composites in the defense industry, which is contributing to the growth of the ballistic composites market. The increasing warfare and innovative techniques are gradually increasing the requirement of armor vehicles, helmets, and others that are directly driving the Ballistic Composites Market . Composite materials have been gradually gaining grounds into the land and naval combat vehicles and have started replacing titanium alloys, steel, and even aluminum as they have advanced strength, stiffness and are lightweight. Thus, the Ballistic Composites Market is booming. As of 2018, the ballistic composites market collected revenue avenue of $1.5 billion, which is expected to grow at a CAGR of 7.55% in the forecast period 2019-2025.

Global Ballistic Composites Market Size Dominated by North America:

For the past several years, titanium usage in combat vehicles in the US have been replaced by ballistic composites and the trend is expected to continue further. Ballistic composites are being widely accepted because of their advantageous mechanical characteristics that heighten strength and resists impact and thermal degradation. Ballistic composites such as aramid fiber and ultra-high-molecular-weight polyethylene are extensively found in protective clothing, gloves, and helmets that even are resistant to the stabbing. North America had the largest ballistic composites market share of around 37% in 2018.

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Ballistic Composites Market: Key Application

The major utilization of ballistic composites is principally witnessed in the vehicle armors. These are generally expected to resist high-velocity rounds to not only protect the personnel but also to carry the required object at dangerous military environments. The low weight is an important factor for both the aircraft or ground vehicles, which is given by ballistic composites. Furthermore, these composites play an important part in spall and external protection.

Ballistic Composites Market: Competitive Landscape

The major market players who are currently holding maximum shares and expanding further in the ballistic composites market are BAE Systems plc, Barrday, Inc., Royal DSM, DowDuPont Dissolution, FY-Composites Oy, Gaffco Ballistics, Gurit Holding, Honeywell International Inc., MKU, Morgan Advanced Materials, PRF Composite Materials Ltd, Koninklijke Ten Cate nv, Southern States, LLC, and Teijin Limited.

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