Vehicle Armor Segment to Account for Largest Share in Asia Pacific Armor Materials Market During Forecast Period
Growing instances of terrorism and increasing defence budget to
propel the growth of Asia Pacific armor materials market
According to
Tech Sci Research report, “Asia
Pacific Armor Materials Market By Type, By Application, By Country,
Competition, Forecast & Opportunities, 2025”, the Asia-Pacific armor materials market is projected to
grow at a substantial pace over the next 5 years on account of increasing
defense budget along with growing government investments on defense and
security. The armor manufacturers are focusing more on improving performance,
dynamic, reactive and active armor technologies. For instance, earlier the battle
tanks were made of steel but now are prepared using multiple materials, to
provide desired specifications, which is has boosted and positively influenced
the market growth in the region. Moreover, rising concerns regarding soldier
survivability and protection is fueling the demand for advanced armors, which
is likely to boost the market growth through 2025.
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Asia-Pacific
armor materials market can be segmented based on type, application, country and
company. On basis of application, the market can be segmented into vehicle,
aerospace, body, civil and marine. The vehicle armor segment is anticipated to
be the largest application during the forecast period owing to growing
instances of armed conflicts and disputes in the region at both intrastate and
interstate levels. In addition to this, the need for marine application is expected
to grow at a rapid pace over the coming years because of the benefit it offers including
protection against energy and ballistic attacks.
DuPont
de Nemours, Inc, Koninklijke DSM N.V., Honeywell International Inc., 3M
Company, Saab AB, Koninklijke Ten Cate BV, Armor Designs Inc., Armorsource LLC,
JPS Composite Materials, PPG Industries Inc. etc. are some of the leading
players operating in Asia-Pacific armor materials market.
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“Asia-Pacific armor
materials market is projected to expand at a rapid pace which is attributable
to increasing military up-grade programs and defense budgets. Necessity for
army training is increasing because of growing bilateral tensions. The soldiers
are meant to fight, for homeland security therefore they require weapons,
vehicles, and body shields to protect themselves, which is expected to further propel
the market growth through 2025.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Asia Pacific Armor Materials Market By Type, By
Application, By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Asia-Pacific
armor materials market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Asia-Pacific armor
materials market.
Contact
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