Ceramic Armor Market worth $2.6 Bn by 2024

Tuesday 16 July 2019, Amsterdam

The ceramic armor market size is estimated to grow from USD 1.8 billion in 2019 to USD 2.6 billion by 2024, at a CAGR of 7.8% during the forecast period. The ceramic armor market is witnessing significant growth because of the growing demand from applications such as body armor, vehicle armor, and aircraft armor.

The body armor application is estimated to account for the largest share of the ceramic armor market in 2019  
Body armor is the major application in the ceramic armor market in 2019. North America and Europe are the key markets due to the huge demand for body armors. The vehicle armor application is expected to grow at the fastest rate due to the increasing adoption of ceramic armor in the manufacturing of vehicular components.  

North America is expected to be the largest market for ceramic armor during the forecast period.
North America is expected to dominate the ceramic armor market during the forecast period due to the substantial adoption and manufacturing of products based on ceramic armor technology. The increasing demand from the body armor, vehicle armor, and marine armor industries in North America are also driving the market in the region. In addition, strong support from the governments for ceramic armor and the presence of key manufacturers in the region are expected to drive the market further.

Major ceramic armor manufacturers are Saint-Gobain (France), CoorsTek, Inc. (US), Koninklijke Ten Cate BV (Netherlands), 3M Company (US), CeramTec (Germany), and  ArmorWorks Holdings Inc. (USA).