Ceramic Armor Market 2019-2024: Market Size is Estimated to Grow from USD 1.8 Billion in 2019 to USD 2.6 Billion by 2024

DUBLIN, June 28, 2019 /PRNewswire/ -- The "Ceramic Armor Market by Material Type (Alumina, Boron Carbide, Silicon Carbide, Ceramic Matrix Composite, Titanium Boride, Aluminium Nitride), Application (Body Armor, Aircraft Armor, Marine Armor, Vehicle Armor) & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Ceramic Armor Market Size is Estimated to Grow from USD 1.8 Billion in 2019 to USD 2.6 Billion by 2024, at a CAGR of 7.8% Between 2019 and 2024.

Ceramic armor manufactured using alumina material is expected to grow at the fastest rate during the forecast period, owing to the properties offered by alumina, such as high modulus of elasticity, refractoriness, and hardness. Also, it provides the best cost-benefit among other ceramic armor material type. Additionally, the high demand for ceramic armor for the vehicle armor application is one of the major reason behind the high growth of alumina material type.

Vehicle armor application expected to register the highest CAGR between 2019 and 2024.

The vehicle armor application will register the highest CAGR in the ceramic armor market. The ceramic armor is significantly utilized for the manufacturing of vehicle armors as they provide excellent protection against the ballistic threats and projectiles. Ceramic armor also offers superior protection to vehicles from extreme and unfavorable weather conditions, resistance against corrosion, and convenience in the mobility of the vehicles.

North America accounted for the largest market share in the ceramic armor market

North America is expected to be the major market for ceramic armor during the forecast period. Increasing demand for ceramic armor for body armor and aircraft armor is driving the growth of the ceramic armor market in North America. The U.S. leads the market for ceramic armor in North America.

Further, the increased budget for the military and huge investments for R&D of ceramic armor is also driving the growth of ceramic armor in the North American market.

Market Dynamics

Drivers

• Security Concerns in Developing Regions
• Increasing Demand for Homeland Security
• Changing Battlefield Scenario
• Development of Lethal Ammunition and Weapons

Restraints

• Failure to Provide Complete Protection
• Complexity of Ceramic Armor Design

Opportunities

• Need for Lighter Armor Systems
• Military Modernization Programs

Challenges

• Developing Durable Ceramic Armor According to Different Threats

Companies Mentioned

• 3M Company
• Armorstruxx LLC
• Armorworks Enterprises, LLC
• BAE Systems
• Ceramtec
• Cerco Corporation
• Coorstek, Inc.
• FMS Enterprises Migun Ltd.
• Hard Shell
• II-VI Incorporated
• Koninklijke Ten Cate BV
• Morgan Advanced Materials PLC
• Point Blank Enterprises, Inc.
• SAAB AB
• SM Group
• Safariland, LLC
• Saint-Gobain
• Schunk Carbon Technology
• Seyntex NV
• Sinoarmor

For more information about this report visit https://www.researchandmarkets.com/r/qmysm7

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