Non-lethal Weapons Market is Estimated to Reach $7 Billion by 2025, Says Accurize Market Research
Non-lethal Weapons Market report published by Accurize Market Research forecast that the global market is expected to reach $7 billion by 2025; growing at a CAGR of 6.1% from 2017 to 2025. By geography, Asia Pacific and Europe are expected to grow at a CAGR of 6.9% and 6.5%, respectively, during the forecast period.
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Augmented government expenditure on military to drive the market
Increased demand for crowd control weapons, adoption of technologically enhanced product developments, and increasing military expenditure by countries are the major aspects driving the global non-lethal weapons market. Additionally, positioning of military in non-combat zones has also fuelled the market growth. However, high price of these weapons is expected to confine the market growth. Improvement in various scientific fields, such as chemicals, electronics, electromagnetic, computers and acoustics would provide several growth opportunities for the market in coming years.
The global non-lethal weapons market is segmented by products, technology, and application. Product segment is bifurcated into directed energy weapons, conducted energy weapons, gases and sprays, water weapons, and explosives. On the basis of technology, the market is segmented as mechanical and kinetic, chemical, acoustics, electromagnetic, and others. According to the application segment, the market is categorized into military, law enforcement agencies, and civilians.
Based on geography, the global non-lethal weapons market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK, Spain, Italy, Russia, and others. Asia-Pacific covers China, India, Japan, Oceanic, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
"Explosives accounted for the largest market share in the product type segment", says Accurize
By product type, explosives accounted for the largest market share in 2017, and are projected to continue its dominance during the forecast period 2016-2025. Mechanical and kinetic dominated the technology segment in 2016.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America accounted for the largest market share of 34% in 2017, owing to its popularity in U.S. North America has the largest market for non-lethal weapons in the world. Europe accounted for the second largest market share of 29%. In terms of growth, Asia-Pacific is to achieve the fastest CAGR of 6.9% during the forecast period 2017-2025, due to the repeated civil unrests and anti-state activities occurring in the countries such as Egypt, Brazil, Turkey, and Kenya.
The major companies in the market include The Raytheon Company, BAE Systems Plc, The Boeing Company, TASER International Inc., Lamperd Less Lethal, Inc., LRAD Corporation and General Dynamics, among others.
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