Ceramic Armor Market: Introduction
Ceramic armor is commonly used in defense and security sectors. It is used in soft ballistic vests. Ceramic armor helps in defeating the high velocity projectiles. It is a lightweight material, which guarantees durability and performance. Rise in advancements in the defense sector is expected to drive the demand for ceramic armor during the forecast period.
Ceramic Armor Market: Segmentation
The ceramic armor market can be segmented based on material and application. Based on material, the ceramic armor market can be divided into boron carbide, ceramic metal composite, alumina, silicon carbide, and others. Alumina is expected to hold major share of the ceramic armor market in the near future. Properties associated with alumina such as high modulus of elasticity and hardness make it a highly attractive material for ceramic armor. Based on application, the ceramic armor market can be segregated into aircraft, defense, marine, and body. Ceramic armor is largely used for defense purposes. Thus, the defense segment held prominent share of the ceramic armor market in 2017. Rise in defense spending in developing and developed countries are propelling the demand for ceramic armor in the defense segment. Technology advancements in ammunition and weapon systems are also boosting the demand for ceramic armor.
Ceramic Armor Market: DROs
Increase in demand for high quality apparel at lower prices and rapidly changing fashion trends are driving the ceramic armor market. Ceramic armor is also increasingly used in military & defense applications. It is also employed in the manufacture of textiles accessories such as smart textiles or automotive textiles. These factors are also anticipated to boost the market. However, rise in number of substitutes such as polypropylene and para-aramid ceramic synthetic fibers is anticipated to restrain the market during the forecast period.
Ceramic Armor Market: Region-wise Outlook
Based on region, the ceramic armor market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of volume and revenue, North America held key share of the ceramic armor market in 2017. The U.S. is the leading country for ceramic armor. It is likely to remain the dominant country during the forecast period. North America dominates in terms of military and defense sector the world. Rise in investments in the military & defense sector in North America is expected to drive the demand for ceramic armor in the region during the forecast period.
After North America, Europe is a prominent region of the global ceramic armor market. Rise in demand for body armors and lightweight materials, and increase in focus on soldier survivability are key factors anticipated to propel the demand for ceramic armor in Europe. Germany, Russia, and France are the major countries of the ceramic armor market in the region. These countries are focusing on modernizing their defense forces. This is estimated to drive the market.
Asia Pacific is expected to exhibit significant growth rate for ceramic armor during the forecast period. China and India are the key countries of the ceramic armor market in Asia Pacific. Rise in cross-border disputes and terrorist activities in Asia Pacific is the major factor creating the need for modernization of the defense & military sector. The Government of India is also planning to increase the FDI percentage in the defense sector in order to gain technology advantage and boost the modernization of the defense sector. The ceramic armor market in Middle East & Africa and Latin America is anticipated to expand at a sluggish pace during the forecast period.
Ceramic Armor Market: Key Players
Large numbers of companies operate in the global ceramic armor market. Prominent companies functioning in the ceramic armor market include Armor Works Inc., CeramTec, Ceradyne, Inc., Saint Gobain Ceramics, Coorstek Inc. Companies are focusing on research and development activities in order to strengthen their position in the market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.