Threat of Terrorist Attacks Generates Growth for Ceramic Armor Market
In countries such as the U.S., China and India, heavy investment in defense applications is expected to fuel market growth for ceramic armor during the forecast period.
The global ceramic armor market is expected to post a CAGR of over 6% from 2018-2022, according to a recent market research report by Technavio. The defense sector accounts for a significant share of the global ceramic armor market. In countries such as the U.S., China and India, heavy investment in defense applications is expected to fuel market growth during the forecast period.
Increasing threats from terrorist groups represent one of the key emerging trends in the global ceramic armor market. With the rising number of terror attacks, governments are focusing on protecting their countries by using tactical resources, such as vehicle armor.
“Governments of various countries protect civilians through border surveillance and improved security measures,” said a senior analyst. “The use of body armors, vehicle armors, and aircraft and marine armors will drive the global ceramic armor market during the forecast period.”
The defense armor segment held the largest market share in 2017, compared to body armor, accounting for nearly 45% of the market. This application segment is expected to dominate the global market throughout the forecast period.
In terms of region, the Americas led the market in 2017 with a market share of nearly 45%. This region is expected to dominate the market through 2022, though with a decrease in its market share.
Additional details are available at www.technavio.com.