Advantage of using Ceramic Armor is projected to escalate the Ceramic Armor market growth at CAGR of 6.0% during 2020–2027

According to our latest market study on “Ceramic Armor Market Forecast to 2027 – COVID-19 Impact and South America Analysis – By Material Type (Alumina, Boron Carbide, Silicon Carbide, Ceramic Matrix Composite, and Others); and Application (Body Armor, Aircraft Armor, Marine Armor, Vehicle Armor, and Others), and Country,” the market was valued at US$ 74.86 million in 2019 and is projected to reach US$ 117.84 million by 2027; it is expected to grow at a CAGR of 6.0% during the forecast period. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.

Ceramic armor has been the best material of choice for the production of safety armors. The continuous technological and armor developments have positively impacted on the economic growth of countries such as Brazil and Argentina. The changing economic condition in South America coupled with the growth of armor automotive, aerospace and other industries along with increasing support from the government for increasing demand for a more flexible and light weighted armor provide a huge developing potential for the ceramic armor market players in South and Central America. Moreover, the constant research and development by the key players to develop innovative products are anticipated to provide a developing opportunity for the market players over the forecast period.

The growing demand for homeland security and changing battlefield scenario will drive the growth for ceramic armor market. Furthermore, the emergence of lethal ammunition and weapons will propel the demand for the ceramic armor market. Also, military modernization programs and need for lighter armor system will create the opportunity for the ceramic armor market. These factors are anticipated to fuel the South America Ceramic Armor market in the upcoming years.

The South America Ceramic Armor market is concentrated with a few well-established players such as 3M, BAE Systems Plc., Morgan Advanced Materials Plc., Point Blank Enterprises, Inc, Seyntex N.V.

Impact of COVID-19 Pandemic on Ceramic Armor Market

Brazil has the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained.

The report includes the segmentation of the South America Ceramic Armor market as follows:

By Material Type

• Alumina
• Boron Carbide
• Silicon Carbide
• Ceramic Matrix Composite
• Others

By Application

• Body Armor
• Aircraft Armor
• Marine Armor
• Vehicle Armor
• Others

• Brazil
• Argentina
• Rest of South America