The global optical ceramics market is estimated to grow at a CAGR of 12% during the forecast period attributed to the growing demand for polycrystalline transparent materials in the aerospace and defense industry. The defense and security forces use transparent armor extensively for ground vehicle protection. For Instance, the ground vehicles equipped with transparent armor include high-mobility multipurpose wheeled vehicles (Humvees) and mine-resistant ambush-protected (MRAP and M-ATV) vehicles and trucks.
For military aircraft applications weight, mechanical integrity, and transparency are essential properties that are fulfilled by the optical ceramic materials. Aerospace structures have to encounter diverse environments that include extreme temperature and moisture. The structures are also subjected to have a connection with deicing fluid, jet fuel, and hydraulic fluid. Moreover, the optical ceramic material is made to withstand ultraviolet exposure, lightning strikes, and erosion from dust. The typical aviation applications optical ceramics include windshields, blast shields, windows for sensor protection, and armored "lookdown" windows for helicopters, combat aircraft, and other airborne systems.
Browse the full report description of "Global Optical Ceramics Market Size, Share & Trends Analysis Report by Material (Sapphire, Spinel, Aluminum Oxynitride, Yttrium Aluminum Garnet (YAG), and Others), By End-User (Aerospace & Defense, Optics and Optoelectronics, Healthcare, and Others), and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/optical-ceramics-market
Furthermore, growing defense expenditure across the globe contributes to the optical ceramics market. The countries are supporting the defense expenditure with huge budget sanctions which as a result is propelling the purchasing and acquisition power of military organizations under the defense protocols. The major factor attributing to the high expenditure on defense is an important concern of the governments to take lead as the world leader in the military and defense industry.
Some of the developed economies across the globe such as the US, China, and Japan are the huge investors in the military and defense sector of their respective countries. According to the SIPRI, the total expenditure of the US was around $649 billion, China was $250 billion, Saudi Arabia was $67.5 billion, Russia was $61.3 billion, India was $66.5 billion, and France was $63.8 billion in 2018. Therefore, the high expenditure in defense indirectly propels the growth of the market.
Substantial Growth in Emerging Market
The global optical ceramics market is projected to exhibit ample opportunities in emerging regions such as Asia-Pacific. The growth is mainly attributed to the growing manufacturing and aerospace industry in the region, which is primarily involved in the development of advanced transparent ceramic materials for various aerospace and defense applications. Furthermore, the increasing spending on the defense sector propels the market growth in the region.
Globally, China holds the second position in military spending with $250 billion in 2018. Moreover, India held the fourth position and invested $66.5 billion in 2018, as per SIPRI. This rise in military spending results due to encouragement in the modernization of military power and rising demand for advanced military equipment. A significant rise of 15.7% in military spending of China was reported during 2016-2018 that further provide ample opportunity for the market growth in Asia-Pacific.
Global Optical Ceramics Market Segmentation
By Material
By End-User
Optical ceramics Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World