Report : Europe Ceramic Armor Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Material Type (Alumina, Boron Carbide, Silicon Carbide, Ceramic Matrix Composite, and Others); Application (Body Armor, Aircraft Armor, Marine Armor, Vehicle Armor, and Others), and Country
Advantage of using Ceramic Armor is projected to escalate the Ceramic Armor market growth at CAGR of 7.0% during 2020–2027
According to our latest market study on “Ceramic Armor Market Forecast to 2027 – COVID-19 Impact and Europe Analysis – By Material Type (Alumina, Boron Carbide, Silicon Carbide, Ceramic Matrix Composite, and Others); and Application (Body Armor, Aircraft Armor, Marine Armor, Vehicle Armor, and Others), and Country,” the market was valued at US$ 561.14 million in 2019 and is projected to reach US$ 955.82 million by 2027; it is expected to grow at a CAGR of 7.0% during the forecast period. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.
Ceramic armor has been the best material of choice for the production of safety armors. It is generally used by armored vehicles. This industry is characterized by the presence of small and medium companies that provide customized products to meet the strong demand for international and domestic manufacturing industries. The rise in disposable income and governmental initiatives to possess a gun for domestic security have propelled the demand for new and improved variety of products. The body armor is another strong contributor in the rising demand for ceramic armor in Europe. The key players in the market are focused towards new and improved product offering, so that it could meet out the demand of specific end use industry in the market, which is further expected to boost this market.
The growing demand for homeland security and changing battlefield scenario will drive the growth for ceramic armor market. Furthermore, the emergence of lethal ammunition and weapons will propel the demand for the ceramic armor market. Also, military modernization programs and need for lighter armor system will create the opportunity for the ceramic armor market. These factors are anticipated to fuel the Europe Ceramic Armor market in the upcoming years.
The Europe Ceramic Armor market is concentrated with a few well-established players such as 3M, BAE Systems Plc., Coorstek, Inc., CeramTec GmbH, Morgan Advanced Materials Plc., Koninklijke Ten Cate BV, Point Blank Enterprises, Inc, Seyntex N.V.
Impact of COVID-19 Pandemic on Ceramic Armor Market
In Europe, as per the recent data, Russia has recorded the highest number of COVID cases. Other than this, France, Spain, UK, Italy and Germany have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.
The report includes the segmentation of the Europe Ceramic Armor market as follows:
By Material Type
- Boron Carbide
- Silicon Carbide
- Ceramic Matrix Composite
- Body Armor
- Aircraft Armor
- Marine Armor
- Vehicle Armor
- Rest of Europe
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