Electrical Weapons - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Electrical Weapons - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Electrical Weapons Market size is estimated at USD 1.67 billion in 2024, and is expected to reach USD 2.28 billion by 2029, growing at a CAGR of 6.34% during the forecast period (2024-2029).

The electrical weapons market is poised to witness significant growth in the coming years owing to the increasing need for effective self-defense solutions for law enforcement as well as military agencies. Factors such as the growing number of violent clashes worldwide have led various law enforcement agencies to increase their acquisitions of electrical weapons, which is expected to drive the growth of the market studied. The increase in the number of investments by electrical weapons companies to develop technologically advanced weapons that are cost-effective and provide high countermeasure capabilities is anticipated to lead to the growth of the market studied during the forecast period.

On the other hand, the growing number of legal and regulatory challenges coupled with the potential capability of misuse of electrical weapons by law enforcement or military personnel are expected to hamper the growth of the market studied in the long run. Nevertheless, the growing integration of electrical weapons with advanced technologies such as IoT and the growing potential for the need for electrical weapons globally are expected to open up new business opportunities for various manufacturing companies, leading to significant growth in the market studied.

Electrical Weapons Market Trends

Law Enforcement Segment Will Showcase Remarkable Growth During the Forecast Period

The law enforcement segment is anticipated to show significant growth in the electrical weapons market. There has been noteworthy growth in terms of the need for the usage of electrical weapons by law enforcement agencies worldwide, with conducted electrical weapons such as taser guns gaining greater significance. The need for such weapons has primarily been boosted by the increasing number of violent clashes between police and civilians in recent years. The rise in such cases has led to enforcement personnel being issued with electrical weapons ranging from electric shock batons and other hand-held weapons to weapons capable of delivering dart-like projectiles that administer an electric shock to a person located at some distance. Various companies have also invested in integrating advanced technologies into their products to provide a competitive edge to law enforcement agencies. For instance, in June 2023, the Salt Lake City police department announced that they would be making use of new stun guns as well as other devices, which have been demonstrated by the company Axon Enterprises Inc. The new range of tasers comes equipped with ten cartridges and fire one probe per shot, thereby allowing precise contact with the target.

Asia-Pacific to Dominate the Market During the Forecast Period

Asia-Pacific holds the highest shares in the market studied and is expected to continue its domination during the forecast period. Factors such as growing investments by various countries in the Asia-Pacific for procurement of advanced electrical weapons for law enforcement as well as the military are expected to generate growth in the market studied.

According to the data presented by the Armed Conflict Location and Event Data Project (ACLED), there has been a significant growth in conflicts in the Asia-Pacific region in recent times. Violent clashes in countries such as India, Japan, South Korea, and Myanmar have led to growth in the need for new electrical weapons acquisitions within the region. Furthermore, various manufacturing companies in the Asia-Pacific are now also looking forward to investing significantly in research to develop hi-tech electrical electrical weapons.

For instance, in October 2021, a startup firm based in Uttar Pradesh, India, announced that they had developed new taser weapons to help law enforcement agencies in situations where the use of deadly force is not authorized. The electrical weapons that were developed by Apasteron Pvt. Ltd has been manufactured under the request made by the Indian security forces after their violent clashes against the Chinese troops. In addition, the electrical weapon, which has been dubbed Vajra, was designed as a trident. It is a metal rod taser used in hand-to-hand combat scenarios with the additional ability to penetrate bullet-proof vests.

Electrical Weapons Industry Overview

The electrical weapons market is fragmented, with various players dominating the market. Some of the major players in the electrical weapons market are General Atomics, RTX Corporation, BAE Systems PLC, Lockheed Martin Corporation, and Honeywell International Inc., among others.

The market is characterized by intense competition with the presence of major key players. In the present scenario, various electrical weapons manufacturing companies are partnering with different technological firms to integrate advanced technologies in the development of the product, thereby creating product differentiation to capture greater market share. Moreover, growing investments in research are also being carried out by electrical weapon manufacturing companies to develop high-end products that meet the requirements of law enforcement as well as the military worldwide and also to expand their product portfolio. Furthermore, the increasing development in terms of new-age technology by technology-based firms is expected to open up new business opportunities, driving the growth of the market studied during the forecast period.

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