Global Market Insights, Inc. adds a new Global Armor Materials Market Research Report for forecast period that shows the growth of the market is rising at a steady CAGR from 2018 to 2025. Armor Materials Market size is expected to grow with a considerable CAGR during the projected timeperiod due to the increasing focus on the survivability of the soldiers in various defense organizations. The lack of ballistic protection and continuous rise in modern artillery technologies and equipments will surely augment the market for protection materials. Armors are basically of two types i.e. personal armor, used to protect soldiers & war animals and vehicle armor, used on warships and armored fighting vehicles.
Even transporting defense personnels or any crucial merchandise require armored vehicles for the safe travel to the destination. Many new protective materials have been introduced to make the armor lightweight and impenetrable. The Future Integrated Soldier Technology (or FIST), a project by British Army is likely to drive the armor materials market. The aim is to improve the regiment’s battle effectiveness by integrating a soldier with all kinds of modern equipments, weapons, sighting systems and defense materials.
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Armor materials market is regulated by various standards and acts governed by three regulatory bodies which are Underwriters Laboratories (UL India), National Institute of Justice (NIJ) and United States Department of Defense (DoD). These regulations are led down to check the impenetrability & quality of the body armor and to control the possession of the armor through Body Armor Control Act and Body Armor Possession Act 2015.
The armor material market may face some hindrances owing to the recent economical recession which has lowered the military spendings in the emerging countries. Countries including the UK, Germany and Russia have witnessed cutback in the defense funds due to the macroeconomic circumstances and recent financial crisis. Nevertheless, the increasing anti-nationalist activities and terrorist activities have led to the ceaseless implementation for law and defense enforcement safety applications.
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The armor materials market size has huge opportunities for growing in the Asia-Pacific. The large-scale urbanization activities on going in the region and growing border disputes would become a boon for the armor materials market. For instance, South Korea is under imminent danger from North Korea from its continuous nuclear threats, that instantly demands better personal protection and weapons for the national army.
The rising need for distributing personal protection armors to the army in the Asia Pacific region, along with regular investments from the government for obtaining high end ammunitions and protection equipment are likely to propel the armor material market size.
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Armor materials market size share is commanded by various defense manufacturing players. Some of the key players involved in the business are Du Pont, 3M, Honeywell International, Saab AB, DSM NV, Tata Steel Limited, Tencate NV, Allegheny Technologies, Saint Gobain, Alcoa Corporation, ATI, Craig International Ballistics Pty Ltd., Pacific Safety Products, Point Blank Enterprises and JPS Composite Materials.
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