Market Trends

Ceramic Armor Market Overview Ceramic Armor Market size is estimated  to be $2,170million  in 2020, growing  at a CAGR of 7.44%  during the forecast period 2021-2026. Ceramic armor are used for the containment of blast fragments and prevention of bullet penetration in defense industry. The most common ceramic materials used for armor application includes alumina, boron carbide, silicon carbide and titanium diboride. The growing demand of lightweight protection materials in defense and military sector coupled with the increasing government spending in military & defense are some of the key factor contributing to its market growth. For instance, in February 2021, US Government accountability office stated that, the Defense spending amounted to $714 billion in financial year 2020 and is expected to increase to $733 billion in financial year 2021. Moreover, the worldwide aerospace and military industry grew by 6.7 percent year over year in 2019, according to data from the Aerospace In