The global ballistic composites market size was valued at USD 1.74 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2030. Rising armed conflicts, terrorism, and security risks have pushed law enforcement to use advanced ballistic materials, such as ballistic composites. There is an increased demand for ballistic equipment such as helmets, body armor, and vehicle protection. This equipment aids in the protection of military and law enforcement officers in times of armed conflict. Hence, these factors are responsible for the growth of the ballistic components market.
The rise in terror activities and inter-border conflicts has increased the utilization of ballistic composites. Governments are spending heavily to improve the safety of their military and police professionals during armed conflicts. The rising crime rate and the need for protection against armed criminals have led to increased adoption of ballistic composites. Military and defense professionals prefer ballistic composites as they offer properties such as high strength and low weight. Furthermore, the rise in personal safety awareness has increased the demand for ballistic composites. They safeguard the user without increasing its weight, helping in swift movements and target positioning. Hence, the rise in demand for equipment such as helmets, body armor, and vehicle armor triggers market growth.
Gather more insights about the market drivers, restrains and growth of the Global Ballistic Composites Market
The rise in the popularity of outdoor activities such as target shooting, hunting, and other sporting activities encourages market growth. Many activity centers offer proper equipment to provide real-life experience of target shooting and hunting. Furthermore, increased disposable income has led the population to opt for ballistic composites to improve vehicle safety and protection. There is an increased adoption of ballistic components by security personnel of high-profile populations such as celebrities, politicians, athletes, businesspeople, and others. Hence, these factors are responsible for the growing demand in the ballistic composites market.
Regional Insights
North America dominated with a market share of 39.0% in 2023 pertaining to a high number of military and police personnel and high budgets for defense spending. Governments in the region are spending heavily to improve the protection of their military professionals. Furthermore, the presence of major defense equipment manufacturing companies also aids in the regional market growth.
Key Company Share & Insights
Some major companies in the ballistic composites market are Honeywell International Inc.; TEIJIN LIMITED.; BAE Systems.; DuPont, and more. Companies are focusing on improving their end-user portfolio with the help of technological advancements, mergers, acquisitions, and investing in research and development.
Honeywell International Inc. offers advanced technology products and services. The product portfolio of Honeywell includes aerospace and automotive products, control systems, specialty chemicals and plastics, engineered materials, electronics, and more.TEIJIN LIMITED is a company that offers services to industries such as chemical, information technology, pharmaceutical, and more. The company also provides materials such as aramid, composites, carbon fibers, resins, film sheets, and more.Key Ballistic Composites Companies:
The following are the leading companies in the ballistic composites market. These companies collectively hold the largest market share and dictate industry trends.
Honeywell International Inc.TEIJIN LIMITEDBAE SystemsDuPontAvient CorporationMorgan Advanced Materials3MSaint-Gobain Performance Plastics CorporationTenCate FabricsGurit Services AGOrder a free sample PDF of the Ballistic Composites Market Intelligence Study, published by Grand View Research.
