Lucintel Blog: Lucintel Forecasts Ballistic Composites Market to Reach $165.2 Million by 2028

Friday, April 28, 2023

Lucintel Forecasts Ballistic Composites Market to Reach $165.2 Million by 2028

According to the recent study the ballistic composites market is projected to reach an estimated $165.2 million by 2028 from $118.1 million in 2023, at a CAGR of 5.3% from 2023 to 2028. Growth in this market is primarily driven by growing demand for environment-friendly components, increasing demand for lightweight and flexible armor to enable mobility, and rising demand for innovative gadgets.

A more than 150–page report is developed to understand trends, opportunities and forecast in ballistic composites market by fiber (aramid fiber, UHMWPE fiber, S-glass fiber, and others), application (vehicle armour, body armour, helmet, face protection, and others), platform (land, marine, and airborne), product (polymer matrix composite, ceramic matrix composite, and metal matrix composite), end use industry (military, homeland security, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link

https://www.lucintel.com/ballistic-composites-market.aspx

“Polymer matrix composite market is expected to remain the largest segment during the forecast period.”

Based on product, the ballistic composites market is segmented into polymer matrix composite, ceramic matrix composite, and metal matrix composite. Lucintel forecasts that the polymer matrix composite market is expected to remain the largest segment due to its properties like low weight, high friction, and temperature resistance.

“Within the ballistic composites market, the vehicle armour segment is expected to remain the largest application.”

Based on application the vehicle armour segment is expected to witness the highest growth over the forecast period due to its benefits like high level of safety, reducing weight and increasing the strength of the materials.

“North America will dominate the ballistic composites market in near future.”

North America will remain the largest region due to the rising advancement in technology, growing modernization of fighter jet fleet and other military vehicles and growing investment by the government towards military sector in the region.

Download Brochure of this report by clicking on https://www.lucintel.com/ballistic-composites-market.aspx.

Major players of ballistic composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Honeywell International, BAE Systems, Royal Ten Cate, Koninklijke DSM, Gurit Holdings, Dupont De Nemours, and Teijin are among the major ballistic composites providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/ballistic-composites-market.aspx or helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com.

Contact:
Roy Almaguer

Director of Client Engagements

Lucintel

Dallas, Texas, USA

Cell: 210-878-7693

roy.almaguer@lucintel.com

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