The Asia Pacific Ceramic Armor market was valued at US$ 409.37 million in 2019 and is projected to reach US$ 716.86 million by 2027; it is expected to grow at a CAGR of 7.4% during 2020–2027.
Ceramic armor has been the best material of choice for the production of safety armors. It is generally used by armored vehicles. The lightweight property and higher flexibility are the most important factors for the expansion and growth of the Asia Pacific ceramic armor market. The increasing spending capacity of various countries for the security for its military is another factor contributing to the expansion of the market. Moreover, various governments across Asia Pacific are initiating numerous R&D plans for the development for the applications of ceramic armors, which is fuelling the growth of the market.
Based on material type, the Asia Pacific ceramic armor market is segmented into alumina, boron carbide, silicon carbide, ceramic matrix composite, and others. In 2019, the alumina segment dominated the market. Based on application, the Asia Pacific ceramic armor market is segmented into body armor, aircraft armor, marine armor, vehicle armor, and others. In 2019, the body armor segment accounted for the largest share in the market.
By country, the Asia Pacific Ceramic Armor market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC. China accounted for the largest share of the market. China is heavily contributing to this market as it is known as the manufacturing hub. The Chinese economy is flooded with manufacturing and assembly units of a few of the major manufacturers of ceramic armor and packaging industries. The rising production capacity of these products is creating a strong market presence. Additionally, China has the largest population in APAC, and this leads to the growing demands for chemical & materials and other services & products, which is driving the growth of the Ceramic Armor market in China.
3M; BAE Systems Plc.; Coorstek, Inc.; CeramTec GmbH; Morgan Advanced Materials Plc.; Koninklijke Ten Cate BV; Point Blank Enterprises, Inc; Safariland, LLC.; and Seyntex N.V. are among the major players present in the Asia Pacific Ceramic Armor market.
Overall size of the Asia Pacific Ceramic Armor market has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific Ceramic Armor market.
Impact of COVID-19 Pandemic on Asia Pacific Ceramic Armor Market
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of March 2020, China and India are among the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 outbreak is affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to the pandemic is hindering the growth of the Asia Pacific Ceramic Armor market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.