| Product Code: ETC5726616 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 | |
In 2024, Latvia continued to heavily rely on neighboring countries such as Lithuania, Poland, and Ukraine for its armor materials imports, with Czechia and the UK also playing significant roles. The high Herfindahl-Hirschman Index (HHI) indicates a market dominated by a few key suppliers. Despite a modest compound annual growth rate (CAGR) of 1.6% from 2020 to 2024, the slight increase in growth rate from 2023 to 2024 at 1.34% suggests a steady but gradual expansion in the armor materials import market for Latvia.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Latvia Armor Materials Market Overview |
3.1 Latvia Country Macro Economic Indicators |
3.2 Latvia Armor Materials Market Revenues & Volume, 2021 & 2031F |
3.3 Latvia Armor Materials Market - Industry Life Cycle |
3.4 Latvia Armor Materials Market - Porter's Five Forces |
3.5 Latvia Armor Materials Market Revenues & Volume Share, By Materials Type, 2021 & 2031F |
3.6 Latvia Armor Materials Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Latvia Armor Materials Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing focus on military modernization and defense capabilities in Latvia |
4.2.2 Rising security concerns and geopolitical tensions in the region |
4.2.3 Growing investments in research and development for advanced armor materials |
4.3 Market Restraints |
4.3.1 Budget constraints and limited government funding for defense procurement |
4.3.2 Regulatory challenges and compliance requirements for armor material manufacturers |
4.3.3 Dependence on imports for advanced armor materials due to limited domestic production capabilities |
5 Latvia Armor Materials Market Trends |
6 Latvia Armor Materials Market Segmentations |
6.1 Latvia Armor Materials Market, By Materials Type |
6.1.1 Overview and Analysis |
6.1.2 Latvia Armor Materials Market Revenues & Volume, By Metals & Alloys, 2021-2031F |
6.1.3 Latvia Armor Materials Market Revenues & Volume, By Ceramics, 2021-2031F |
6.1.4 Latvia Armor Materials Market Revenues & Volume, By Composites, 2021-2031F |
6.1.5 Latvia Armor Materials Market Revenues & Volume, By Para-Aramid Fibers, 2021-2031F |
6.1.6 Latvia Armor Materials Market Revenues & Volume, By UHMWPE, 2021-2031F |
6.1.7 Latvia Armor Materials Market Revenues & Volume, By Fiberglass, 2021-2031F |
6.2 Latvia Armor Materials Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Latvia Armor Materials Market Revenues & Volume, By Vehicle, 2021-2031F |
6.2.3 Latvia Armor Materials Market Revenues & Volume, By Aerospace, 2021-2031F |
6.2.4 Latvia Armor Materials Market Revenues & Volume, By Body, 2021-2031F |
6.2.5 Latvia Armor Materials Market Revenues & Volume, By Civil, 2021-2031F |
6.2.6 Latvia Armor Materials Market Revenues & Volume, By Marine, 2021-2031F |
7 Latvia Armor Materials Market Import-Export Trade Statistics |
7.1 Latvia Armor Materials Market Export to Major Countries |
7.2 Latvia Armor Materials Market Imports from Major Countries |
8 Latvia Armor Materials Market Key Performance Indicators |
8.1 Percentage increase in defense budget allocation year-on-year |
8.2 Number of government contracts awarded for armor material development and procurement |
8.3 Research and development expenditure as a percentage of total revenue for armor material manufacturers |
8.4 Number of domestic armor material production facilities established |
8.5 Adoption rate of advanced armor materials in defense applications |
9 Latvia Armor Materials Market - Opportunity Assessment |
9.1 Latvia Armor Materials Market Opportunity Assessment, By Materials Type, 2021 & 2031F |
9.2 Latvia Armor Materials Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Latvia Armor Materials Market - Competitive Landscape |
10.1 Latvia Armor Materials Market Revenue Share, By Companies, 2024 |
10.2 Latvia Armor Materials Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |