The armor materials market is projected to grow from an estimated USD 8.67 billion in 2017 to USD 12.11 billion by 2022, at a CAGR of 6.92% during the forecast period. Emerging countries such as Brazil, China, India, and Russia are spending heavily on defense activities owing to rising internal conflicts and tensions with neighboring countries, which is expected to drive the armor materials market. The armor materials market has been segmented on the basis of product type, application, and region.
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Key players operating in the armor materials market include E. I. Du Pont De Nemours and Company (US), DSM NV (Netherlands), Honeywell International Inc. (US), Compagnie de Saint-Gobain SA (France), Allegheny Technologies Incorporated (US), 3M Ceradyne, Inc. (US), Alcoa Corporation (US), Royal TenCate NV (Netherlands), Saab AB (Sweden), CoorsTek Inc. (US), Morgan Advanced Materials (UK), Tata Steel Limited (India), AGY Holding Corp. (US), PPG Industries Inc. (U.S.), and CeramTec GmbH (Germany).These players have adopted various strategies to expand their global presence and increase their market shares. New product launches, expansions, collaborations, partnerships, agreements, joint ventures, and acquisitions are some of the major strategies adopted by these players to enhance their business prospects in the armor materials market.
The growth of the armor materials market was largely influenced by agreements over the past five years. Companies such as E. I. Du Pont De Nemours and Company (US), DSM NV (Netherlands), Honeywell International Inc. (US), Royal TenCate NV (Netherlands), and 3M Ceradyne Company (US) adopted expansions, agreements, and new product launches to expand their regional presence and enhance their product offerings.
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In June 2016, DuPont expanded its research & development activities on the Soldier Protection and Individual Equipment Project of the US Army. It also announced the expansion of its capacity for the production of specialty colored DuPont Kevlar yarn, in June 2013. In November 2013, the company launched two new products, DuPont Kevlar XP S104 and DuPont Kevlar AS450X. These are developed for anti-stab, anti-spike and combined ballistic protection in armor applications, and offer significant mobility and driving comfort, particularly when donned in patrol vehicles.
Royal TenCate NV (Netherlands), which is a leading manufacturer of armor materials, adopted agreements, expansions, and new product launches as key growth strategies to expand its business globally. In September 2015, the company signed a contract to supply the TenCate ABDS active blast countermeasure system for the US Army combat vehicle prototype. In addition to this, it also entered into an agreement, in February 2015, to supply protection materials for modernization programs of CV90 vehicles to the Norwegian Army. In May 2015, the company launched military combat fabrics using TenCate Defender M fabrics and TenCate Coolderm technology. In June 2014, it developed a helicopter armor solution based on the Dyneema Force Multiplier Technology from DSM aimed to reduce weight and increase aircraft payload. The company is the official launch partner of DSM Dyneema at Eurosatory.
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