Global Non-Lethal Weapons Market Report, published by Variant Market Research, forecast that the global market is expected to reach $6 billion by 2024 from $4 billion in 2016, growing at a CAGR of 6.2% from 2016 to 2024. By geography, Asia Pacific and Europe are expected to grow at a CAGR of 6.9% and 6.5%, respectively, during the forecast period.
The global non-lethal weapons market is majorly driven by factors such as, adoption of technologically enhanced product developments, increasing demand for crowd control weapons, and rising military expenditure by countries. Furthermore, deployment of military in non-combat zones has also boosted the market growth. However, high price of these weapons is anticipated to hinder the market growth. Moreover, advancement in various scientific fields, such as computers and acoustics chemicals, and electronics would provide several growth opportunities for the global non-lethal weapons market in the near future.
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The global non-lethal weapons market is categorized by product type, technology, and application. By product type, the segmentations include directed energy weapons, gases and sprays, conducted energy weapons, water weapons, and explosives. By technology, the market is bifurcated as chemical, mechanical and kinetic, acoustics, electromagnetic, and others. By application, the market is segregated into military, civilians and law enforcement agencies. In 2016, by product type, explosives accounted for the largest market share, and are expected to continue its dominance during the forecast period 2016-2024. Mechanical and kinetic dominated the technology segment in 2016. Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
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In 2016, North America accounted for the largest market share of 33.8%, due to its increased popularity in the U.S. which is the world’s largest non-lethal weapons market. Europe accounted for the second largest market share of 28.5%. Asia-Pacific is to attain the fastest CAGR of 6.9% during the forecast period 2016-2024, driven by repeated civil unrests and anti-state activities occurring in the countries such as Brazil, Turkey, Egypt, and Kenya.
The major key players operating in the market comprise, The Raytheon Company, General Dynamics, TASER International Inc., BAE Systems Plc, Lamperd Less Lethal, Inc., The Boeing Company, LRAD Corporation, and Combined Systems Inc., among others.
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