Chemicals and Materials Global Armor Materials Market (2016-2024)- Researc | Page 6

Global Armor Materials Market Overview
Armor materials refer to the materials which are used to strengthen
and upgrade the armor. These armor materials are used in various
armors such as helmet, vest, vehicle and others. Several global armor
material manufacturers are developing and manufacturing light
weight and durable armor materials. These lightweight armor systems
are more effective in complex situations.
Market Size and Forecast
Global armor materials market is anticipated to register a CAGR of
7.1% over the forecast period 2017-2024. Additionally, the market of
Armor Materials Market was held at a valuation of USD 8.9 Billion
in 2016 and is expected to reach 13.2 Billion by the end of 2024. This
significant growth of the armor materials market can be attributed to
rising security concerns. Further, development and manufacturing of
advance armor and weapons is expected to strengthen the growth of
armor materials market.
In the regional platform, North America is the largest market in the
term of market share of overall armor materials market. Further,
North America is expected to continue its dominance over the
forecast period. The market of armor materials is majorly driven by
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