During the assessment period, the global demand for ballistic protection materials is expected to grow at a CAGR of 7.4%, with the market value projected to increase from US$ 15,330.8 million in 2023 to US$ 31,135.2 million by 2033.
Aramid fibers like Kevlar continue to be in high demand due to their lightweight and high strength properties, with a forecasted CAGR of 7.9% in the target segment.
The market for ballistic protection materials is set to expand by 2.0X by 2033, driven by increasing cross-border tensions and conflicts in various countries.
Rising defense budgets globally and the allocation of funds towards enhancing military capabilities are key factors propelling the demand for advanced armor solutions.
The global civilian safety equipment demand is on the rise due to concerns about threats from terrorists and criminals, driving the growth of the ballistic protection material market.
There is a global societal shift towards prioritizing personal safety and security, leading to an increase in the market for body armor, helmets, and vehicle armor.
Key players in the industry are focusing on developing innovative materials with enhanced features like lightweight and high strength to boost sales. They are also engaging in strategies like facility expansions, mergers, collaborations, partnerships, and acquisitions to stay competitive.
In October 2023, Dyneema unveiled its next-generation unidirectional (UD) material innovation aimed at enhancing the safety and mobility of military forces and law enforcement officers.
The global market for ballistic protection materials is projected to grow at a CAGR of 7.4% through 2033, with the aramid fibers segment expected to reach US$ 14,004.1 million by 2033.
North America is expected to account for a significant market share of about 37.7% in 2033, with the United States industry value anticipated to reach US$ 11,289.8 million by 2033.
China is projected to achieve a valuation of US$ 4,880.5 million by 2033, while demand in India is predicted to rise at a CAGR of 9.3% through 2033.
Future Market Insights offers an unbiased analysis of the global ballistic protection material market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. The report is segmented based on material type, armor type, application, end-use, and region.