CERAMIC ARMOR MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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As geopolitical conflicts continue to intensify across different parts of the world, more countries are allocating higher military budgets for procuring improved personal protective equipment including advanced ceramic armor systems for their troops. For instance, according to the data published by the U.S. Department of Defense, in April 2022, the defense budget was USD 703.7 Bn in 2021 and 742.3 Bn in 2022. Nations involved in counterinsurgency and counterterrorism operations especially recognize the need to safeguard soldiers engaged in combat against lethal ballistics and explosive threats. Lightweight but highly durable ceramic armor plates provide reliable protection against a wide range of ammunition without compromising on mobility. With ceramic materials undergoing constant refinement to block penetrations more effectively at lower weights, defense agencies see value in frequent upgrades of armor solutions. Manufacturers are accordingly engaged in new product innovations and customizing offerings as per customer requirements to benefit from rising defense expenditures devoted to soldier modernization with cutting-edge survivability gear. Additionally, greater usage of private military contractors in overseas deployments also contributes to the broadening market scope. With combat scenarios becoming more complex, there is diminished reluctance to spend substantially on battlefield protection technologies that can save lives.

• Koninklijke DSM N.V.
• BAE Systems
• Morgan Advanced Materials
• Saint-Gobain S.A.
• 3M Company
• CeramTec
• II-VI Incorporated
• Safariland, LLC
• Coorstek, Inc.
• MKU Limited