Non-Lethal Weapons Market is expected to reach USD 4,868.1 million in 2021
According to a new market report published by Transparency Market Research “Non-Lethal Weapons Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2021,” global non-lethal weapons market was valued at USD 3,201.6 million in 2014, growing at a CAGR of 6.1% from 2015 to 2021 to account for USD 4,868.1 million in 2021.
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The non-lethal weapons market is primarily driven by growing need for effective crowd control weaponry in various urban warfare applications globally. The increase in importance for the security and safety of civilian lives during adversary combat, anti-terrorism operations, hostage rescue and insurgency control in urban areas is also influencing the growth of global non-lethal weapons market. The non-lethal weapons provide advantages to the armed troops in terms of effectiveness, economy, and accuracy with reduced collateral damages.In terms of product type, the explosive held the highest revenue share accounting for more than thirty percent of the overall market in 2014. With the changing warfare tactics, the demand for directed energy weapons is also observing substantial growth globally. In terms of technology, the electromagnetic segment, chemical segment and acoustic segment are analyzed to be growing at rapid CAGR globally. The application of non-lethal weapons by law enforcement agencies are also expected to grow at a CAGR of 6.1% over the forecast period from 2015 to 2021.
Geographically, North America led the non-lethal weapons market with more than thirty percent market revenue share globally in 2014 and is expected to continue its dominance throughout the forecast period. The factors responsible for the dominance of the North America region are growing interest for effective crowd control weapons and growing adoption of high-end weapon systems to gain advantage in asymmetric warfare. Moreover, civilian awareness and rising security needs is further contributing to the growth of non-lethal weapons market in North America. The U.S. is estimated to be the largest market for non-lethal weapons in the world and is expected to remain so throughout the forecast period. Europe and Asia Pacific followed North America in the global non-lethal weapons market to collectively account for more than forty five percent of the global market revenue share. Asia Pacific is estimated to be the fastest growing region in the non-lethal weapons market with a CAGR of 6.8% from 2015 to 2021. The report includes the market revenues of 17 major countries in the non-lethal weapons market.
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The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, historical roadmap and recent developments in the field of non-lethal weapons. Major market participants profiled in this report include the Raytheon Company, BAE Systems Plc, the Boeing Company, TASER International Inc, Lamperd Less Lethal, Inc., FN Herstal, Safariland Group, General Dynamics Corporation, LRAD Corporation and PepperBall Technologies, Inc. among others.
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