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.
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.
Among various types of material types, aramid fiber materials are set to be extensively used across numerous industries. As of 2024, the material is projected to hold a prominent share of 42.7% in terms of volume.
The global ballistic protection material industry is predicted to surge over 1.8x through 2034, amid a 3.3% increase in expected CAGR compared to the historical one. This is due to the growing demand for ballistic protection equipment from various applications, such as body armor, helmets, and face protection.
| Attributes | Description |
|---|---|
| Estimated Ballistic Protection Material Market Size (2024E) | USD 16,070.3 million |
| Projected Ballistic Protection Material Market Value (2034F) | USD 28,965 million |
| Value-based CAGR (2024 to 2034) | 6.1% |
Global sales of ballistic protection materials are set to rise due to increasing cross-border tension between countries as well as surging government expenditure on defense and military development across the globe. By 2034, the industry is set to reach USD 28,965 million.
The ballistic protection material industry is experiencing significant growth due to global security concerns, military modernization, and personal safety concerns. Materials such as aramid fibers and ceramics are vital in manufacturing body armor, helmets, and vehicle armor, providing protection against ballistic threats. These materials are set to be essential for military personnel, law enforcement, and civilians, offering resilience against bullets and shrapnel. Their lightweight yet robust properties make them ideal for designing wearable protective gear.
The United States and China dominate the ballistic protection material market due to substantial defense budgets and strategic research investments. The United States excels in innovation and partnerships, while China leverages manufacturing capabilities and military modernization to lead in terms of production volumes.
The global security threat escalation, particularly in Asia Pacific, has increased defense spending and demand for cutting-edge protection materials. Surge in terrorism has also prompted nations to prioritize the procurement of sophisticated protective gear. The field of ballistic protection materials is evolving with the launch of innovative technologies and materials, such as fibers and composites, further enhancing protective gear performance.
The market's proactive approach toward personal safety and national security is vital in the face of changing global dynamics. Collaborations, innovations, and strategic investments among leading companies and manufacturers are set to play pivotal roles in shaping the industry trajectory.
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The annual growth rates of the business from 2024 to 2034 are illustrated in the table below. Starting with the base year 2023 and going up to the present year 2024, the report examines how the growth trajectory changes from the first half of the year, i.e. January through June (H1) to the second half consisting of July through December (H2). This gives stakeholders a comprehensive picture of the industry’s performance over time and insights into potential future developments.
In the first half (H1) from 2023 to 2033, the market is predicted to surge at a CAGR of 5.6%, followed by a slightly higher growth rate of 6.2% in the second half (H2) of 2023 to 2033.
| Particulars | Value CAGR |
|---|---|
| H1 | 5.6% (2023 to 2033) |
| H2 | 6.2% (2023 to 2033) |
| H1 | 5.9% (2024 to 2034) |
| H2 | 6.3% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2024, the CAGR is projected to slightly decrease to 5.9% in the first half and it will further increase to 6.3% in the second half. In the first half (H1), the industry saw a steady growth of 30 BPS while in the second half (H2), there was a slight surge of 10 BPS.
Cross-border Collaborations in Defense and Security Industry Promote Growth
Cross-border collaborations in the defense and security industry are driving growth of the ballistic protection material industry. This not only enhances protective gear capabilities but also creates a diverse business with access to unique materials. The mutual sharing of knowledge accelerates the development of cutting-edge solutions across military, law enforcement, and civilian applications.
Recent international collaborations, like the Israel-Greece Military Technology Cooperation Agreement, United States-India Defense Technology and Trade Initiative, and United States-Japan Joint All-Domain Command and Control Initiative, are enhancing military and defense capabilities. Initiatives like the Eurofighter Typhoon Program, involving the United Kingdom, Germany, Italy, and Spain, aim to develop and manufacture a multi-role combat aircraft, promoting cross-border technology exchanges.
Growing Defense Budgets Worldwide Fuel Demand for Cutting-edge Armor Solutions
High global defense budgets are augmenting growth in military capabilities and enhancing armor solutions like aramid fibers, polyethylene, and composite ceramics to address evolving security threats. The United States leads the global defense budget with an amount of USD 876.9 billion in 2022.
The country is followed by China, Russia, and India with budgets of USD 291.9 billion, USD 86.3 billion, and USD 81.3 billion, respectively. This increase in military spending influences the industry, boosting growth as nations enhance their defense capabilities and demand for advanced materials.
Requirement for High-performance Raw Materials is a Costly Affair
The high cost of raw materials in the industry significantly affects the affordability and accessibility of cutting-edge protective solutions. High-performance ballistic protection gear requires materials like Kevlar, Dyneema, and advanced ceramics. However, their production involves complex processes and expensive chemicals, increasing production costs. These materials are expensive to manufacture, making them less accessible to a broad market, especially in cost-sensitive sectors like law enforcement and civilian protection.
The high cost of raw materials is set to deter small-scale manufacturers from entering the market, reducing competition and innovation. The restriction necessitates continuous research to find cost-effective alternatives or more efficient production methods to make advanced ballistic protection materials highly affordable and accessible.
Principal Consultant
Global sales of ballistic protection materials grew at a CAGR of 2.8% between 2019 and 2023. Total market revenue reached USD 15,247.8 million in 2023. From 2019 to 2023, it experienced significant growth due to rising defense budgets and increasing security measures worldwide.
The industry size surged significantly, with a CAGR reflecting robust demand. Technological advancements in material sciences, such as lightweight materials like aramid fibers, ceramics, and ultra-high molecular weight polyethylene (UHMWPE), have enabled the development of stronger and lighter ballistic protection solutions.
Military modernization programs also augmented significant investments in cutting-edge ballistic protection materials to equip armed forces with state-of-the-art protective gear and armored vehicles. The use of protection materials in civil applications has surged due to increased security concerns and the necessity for PPE to withstand ballistic threats.
Regional dynamics have shifted, with North America and Europe mainly dominating the market due to extensive defense budgets and strong research and development capabilities. Asia Pacific has emerged as a significant region, driven by rising geopolitical tensions and increasing defense spending across countries like China and India.
Key market players are shifting toward sustainable and cost-effective solutions, with a high focus on creating eco-friendly materials and optimizing production processes to reduce costs without compromising performance. The industry is anticipated to sustain its growth trajectory, fueled by ongoing military modernization activities and rising applications in both defense and civilian sectors. In the forecast period, the industry is set to thrive at a CAGR of 6.1%.
Tier 1 companies include leaders with annual revenues exceeding USD 7,000 million. These companies are currently capturing a significant share of 30% to 35% globally. These frontrunners are characterized by high production capacity and a wide product portfolio.
Tier 1 companies are distinguished by extensive expertise in manufacturing and a broad geographical reach, underpinned by a robust consumer base. These firms provide a wide range of products and utilize the latest technology to meet regulatory standards. Prominent companies within Tier 1 include Honeywell International Inc., DuPont, TEIJIN Ltd., Rheinmetall AG, and BAE Systems.
Tier 2 companies encompass mid-sized participants with revenues ranging from USD 2,000 to 7,000 million, holding a presence in specific regions and exerting significant influence in local economies. These firms are distinguished by their robust presence overseas and in-depth business expertise.
Tier 2 companies possess strong technology capabilities and adhere strictly to regulatory requirements. However, the firms may not wield cutting-edge technology or maintain an extensive global reach. Noteworthy entities in Tier 2 include Hyosung Corporation, TenCate Protective Fabrics, Kolon Industries Inc., and Rochling Group.
Tier 3 encompasses most of the small-scale enterprises operating in the regional sphere and catering to specialized needs with revenues below USD 2,000 million. These companies are notably focused on meeting local demands and are hence categorized within the Tier 3 segment. They are small-scale participants with limited geographical presence.
In this context, Tier 3 is acknowledged as an informal sector, indicating a segment distinguished by a lack of extensive organization and formal structure in comparison to the structured one. Tier 3 includes FY-Composites Oy, Final Advanced Materials, and others.
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The section below covers the business analysis for the sales growth for different countries. Demand analysis of key countries in several regions of the globe, including North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa, is provided.
The United States is anticipated to remain at the forefront in North America, with a CAGR of 5.3% through 2034. In East Asia, China is projected to witness a CAGR of 7.1% during the forecast period.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 5.3% |
| China | 7.1% |
| Russia | 6.2% |
The United States is projected to reach USD 10,287.7 million by 2034. Over the assessment period, demand for ballistic protection materials in the country is set to rise at 5.3% CAGR.
The country’s military modernization efforts are set to increase demand for advanced technologies and equipment, bolstering growth. Need for protective gear, including body armor, remains high due to soaring crime rates and potential armed encounters, fueling sales of ballistic safety material.
Demand for ballistic protection materials is further driven by increasing awareness among civilians about personal safety and the easy availability of protective solutions. Collaborations between the United States government, defense agencies, and private companies foster innovation and boost the development of effective materials. Legislative measures, particularly in law enforcement, also contribute to the sustained demand for protective gear to meet compliance standards and personnel safety.
China is prioritizing national defense and security due to geopolitical challenges and regional tensions. This has led to a surging demand for cutting-edge ballistic protection materials.
The country is investing in innovative equipment to enhance the safety and effectiveness of its military personnel. Furthermore, China’s economic growth has increased the demand for protection materials for police and other security forces.
Rising terrorism has led to a surging demand for protective measures, particularly ballistic protection materials. The country’s government is taking various efforts to enhance internal security and defense capabilities, which are likely to increase the demand for protection materials.
Rapid infrastructure development has raised workplace safety awareness, requiring protection materials in various sectors to ensure workers’ well-being. Sales in China are projected to soar at a CAGR of around 7.1% during the assessment period.
Ongoing conflict between Russia and Ukraine has increased demand for protection materials, as military personnel's protection becomes essential. Manufacturers are focusing on innovative solutions to address the specific challenges posed by the conflict, resulting in a high demand for these materials in Russia. This geopolitical factor reinforces the market's significance in the regional security landscape.
The industry value in the country is anticipated to reach USD 1,379.7 million by 2034. Over the forecast period, ballistic protection material demand in Russia is set to rise at a robust CAGR of 6.2%.
The following section highlights the growth trajectory of the leading segments in the global market. The aramid fiber segment in terms of material type is projected to dominate with a CAGR of 6.6% between 2024 and 2034.
Based on end-use, the military and defense segment is projected to hold a share of 56.6% in 2024. The analysis would enable potential clients to make effective business decisions for investment purposes.
| Segment | Aramid Fiber (Material Type) |
|---|---|
| Value Share (2024) | 42.7% |
Aramid fibers, such as Kevlar and Twaron, command a high value share in the industry due to their exceptional combination of lightweight and high-strength properties. These fibers provide superior resistance to impact, making them highly effective in absorbing and dispersing energy upon impact, which is essential for ballistic protection. Their superior versatility allows for the creation of flexible and comfortable protective gear, a key factor in their widespread adoption.
Over the forecast period, demand for aramid fiber-based ballistic protection items is forecast to rise at a CAGR of 6.6% CAGR. By 2034, the target segment is estimated to reach USD 13,037 million.
| Segment | Military and Defense (End-use) |
|---|---|
| Value Share (2024) | 56.6% |
The military and defense industry currently holds around 56.6% of the value share due to the continuous need for unique protective gear. Demand for cutting-edge protective solutions is set to be primarily bolstered by the need for improved soldier safety, modern warfare threats, and substantial investments in research and development.
As per the India Brand Equity Foundation (IBEF), India was in the fourth position worldwide in 2024 with a defense budget of USD 74.7 billion. The country’s government has also introduced the Atmanirbhar Bharat Initiative, which has listed around 509 military and defense-related products to be produced domestically instead of imports. Such initiatives for the military and defense sectors in various countries are anticipated to create new growth opportunities.
The section provides comprehensive assessments and insights that highlight current opportunities and emerging trends for companies in developed and developing countries. It analyzes innovations in manufacturing and identifies the latest trends poised to bolster new applications in the business.
Leading manufacturers and vendors in the ballistic protection material industry are actively enhancing capabilities and resources to cater to the growing demand for materials across diverse applications. Key companies are also leveraging partnership and joint venture strategies to co-develop innovative products and bolster their resource base.
A handful of companies are investing in continuous research for the development of new products and increasing their manufacturing capacity to meet end-user demand. Also, a rising focus on adopting strategies, such as partnerships, acquisitions, mergers, and facility growth helps to strengthen their geographical footprint.
Industry Updates
A few key materials are aramid fibers, polyethylene (PE), composite ceramics, glass fiber reinforced plastics (GFRP), steel and titanium alloys, and others.
Based on armor type, the industry is split into soft and hard.
Application segments included in the report are body armor, vehicle armor, aircraft armor, marine armor, helmets and face protection, and others.
Leading end-users included in the report are military and defense, law enforcement, and civilians.
Analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.
The industry is anticipated to rise at 6.1% CAGR by 2034.
The industry is projected to reach USD 28,965 million by 2034.
Soft-rigid composite textile for ballistic protection consists of ceramic armor plates coated or contained in high-modulus organic polymers like para-aramids.
Kevlar, a heat-resistant, strong, and lightweight synthetic fiber, is widely used in both military and civilian applications for wearable bulletproof items.
High hardness armor steel (HHA) with a 6.5 mm thickness is used to provide good fatigue resistance.
Ballistic materials, including steel, plastic, ceramics, and titanium, provide mechanical protection against bullets and shrapnel, with hard and soft types available.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Material Type 6.2. Armor Type 6.3. Application 6.4. End Use 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material Type 7.1. Aramid Fibers 7.2. Polyethylene (PE) 7.3. Composite Ceramics 7.4. Glass Fiber Reinforced Plastics (GFRP) 7.5. Steel and Titanium Alloys 7.6. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Armor Type 8.1. Soft 8.2. Hard 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 9.1. Body Armor 9.2. Vehicle Armor 9.3. Aircraft Armor 9.4. Marine Armor 9.5. Helmets and Face Protection 9.6. Others 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 10.1. Military and Defence 10.2. Law Enforcement 10.3. Civilians 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. East Asia 11.6. South Asia Pacific 11.7. Middle East and Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. South Asia Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 19. Sales Forecast 2024 to 2034 by Material Type, Armor Type, Application, and End Use for 27 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Honeywell International Inc. 21.2. DuPont 21.3. TEIJIN Ltd. 21.4. Rheinmetall AG 21.5. TenCate Protective Fabrics 21.6. Kolon Industries Inc. 21.7. BAE Systems 21.8. Rochling Group 21.9. Morgan Advanced Materials Plc. 21.10. Beijing Tongyizhong New Material Technology Corporation 21.11. FY-Composites Oy 21.12. Final Advanced Materials 21.13. ArmorSource LLC 21.14. HUVIS Corp 21.15. Hyosung Corporation 21.16. Kordsa 21.17. Toyobo Co., Ltd. 21.18. Avient Corporation 21.19. Saint-Gobain S.A. 21.20. Bally Ribbon Mills
Chemicals & Materials
January 2023
REP-GB-16568
240 pages
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Ballistic Protection Material Market
