Electrical Weapons Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Electrical Weapons Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Electrical Weapons Market is to exhibit a growth rate of more than 7% during the forecast period 2020-2025.

Key Highlights

• The rise in violent crimes, riots, etc. across the world due to which the law enforcement authorities across the globe have increased their budgets for the acquisition of non-lethal weapons. This factor is propelling the demand for non-lethal electrical weapons such as Tasers, electrical batons, stun guns, etc. across the globe.
• The growing investments into the development of advanced directed energy weapons that offer a cost-effective, high-speed, highly accurate countermeasures against aerial threats. Such investments are driving the growth of the lethal segment of the market during the forecast period.
• The growing concerns over the dangers posed by the electrical non-lethal weapons are expected to hamper the growth of the market in the coming years.

Key Market TrendsThe Non-lethal Segment Will Grow Significantly During the Forecast Period

The rising violent crimes, riots and protests across the world are resulting in violent standoffs of the people with police and law enforcement agencies. The law enforcement agencies are investing in the procurement of non-lethal electrical weapons such as tasers to harmlessly restrain the law offenders. In 2019, the use of Tasers by Swiss law enforcement agencies witnessed a growth of nearly 40% compared to 2018. Similarly, in the United Kingdom, the taser deployment grew by more than 100% between 2018 and September 2019 compared to 2015-2016. Further in March 2020, Gujarat becomes the first state in India to introduce tasers to its law enforcement arsenal as a midway alternative to batons and firearms. Similar procurement across the world are expected to accelerate the growth of the market segment during the forecast period.

North America Region holds Highest Share in 2019

The North America region currently dominates the market and is expected to continue its dominance during the forecast period. This growth is mainly due to increased investments by the US government towards procurement of non-lethal electrical weapons for the law enforcement agencies. In May 2020, San Mateo County Board of Supervisors approved a budget of approximately USD 1 million for the acquisition of 310 model 7 Tasers from Axon for the country sheriff’s department. Also, the country is investing in the development of advanced directed energy weapons for installation of land, air, and sea platforms. The Department of Defense is in plans to equip the HELIOS laser defense system on Arleigh Burke-class destroyer in 2021. This laser system will replace the Rolling Airframe Missile (RAM) system. Earlier, Lockheed Martin Corporation was awarded USD 150 million to design, build, and deliver a replacement system for RAM systems by 2020. Such robust plans of the government to induct advanced weapons systems are anticipated to accelerate the growth of the market in the North America region during the forecast period.

Competitive Landscape

The Electrical Weapons market is slightly fragmented with many players in the market that cater to the electrical non-lethal weapon requirement of the law enforcement agencies. However, there are few players in the lethal electrical weapon systems manufacturing sector. Some of the prominent players in the electrical weapons market are General Atomics, Raytheon Technologies Corporation, BAE Systems plc, and Axon Enterprise. To develop lethal electrical weapons is witnessing collaborations between various defense manufacturers, platform manufacturers, and technological firms. For instance, in June 2020, the European Defence Agency (EDA) selected a nine-member consortium (including Naval Group, Nexter Systems and Diehl Defense) to develop electromagnetic railguns. The project is expected to demonstrate rail gun in 2022 and the consortium will explore the possibility of integrating the weapon on land and naval platforms. Such partnerships and development of new and advanced systems are anticipated to help the companies increase their share in the market in the coming years.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
General Atomics
Raytheon Technologies Corporation
BAE Systems plc
Axon Enterprise
Euro Security Products s.r.o.
MARCH GROUP LTD
Lockheed Martin Corporation
Northrop Grumman Corporation

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