ID: MRFR/A&D/2910-HCR | 100 Pages | Published By Sejal Akre on March 2023
An electroshock weapon is an incapacitating weapon that is utilized for disrupting superficial muscle functions of a person by inducing an electric shock. A conductive energy device is a type of electroshock weapons that fires projectiles that administer the shock through a thin, flexible wire. Other electroshock weapons such as stun batons, electroshock belts, and stun guns, induce an electric shock by direct contact. The growing demand for crowd control weapons is driving market growth. The rising civil unrest across the globe due to economic and political crises has compelled military and law enforcement agencies to utilize such weapons that do not cause severe injury. Additionally, increasing military expenditure by developing countries such as China and India is also driving the global electroshock weapons market. Also, the growing deployment of military personnel in non-combat zones to adhere to law and order and maintain peace has also boosted the market growth. However, strict government regulations and concerns regarding the environment are some of the factors projected to hinder market growth.
Segmentation of the Global Electroshock Weapons Market
Based on product type, the global electroshock weapons market has been divided into direct contact weapons and direct energy weapons. The direct energy weapons segment dominated the market in 2018 and is expected to register a higher CAGR during the forecast period. The growing investment by the government of countries such as the US in developing direct energy weapons is driving the growth of the segment. On the basis of end user, the market has been segmented into military and law enforcement. The law enforcement segment dominated the market in 2018 and is expected to register a higher CAGR during the forecast period. The growing demand for less lethal weapons by law enforcement agencies for maintaining peace and protecting the citizens is driving the segment growth. Based on regions, the global electroshock weapons are divided into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America dominated the market in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Increasing military expenditure of developing countries such as China and India and rising regional conflicts are factors driving the market growth in the region.
The key players in the global electroshock weapons market are Axon, OBERON-ALPHA, March Group Ltd., Safariland, LLC, and TBOTECH Safety & Security, LLC.
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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The top factors responsible for the market growth include the mounting demand for crowd control weapons, surge in civil unrest owing to political and economic crises compelling military and law enforcement agencies to use these weapons that do not cause severe injury.
A restraining factor in the Electroshock Weapons Marketcan be the presence of strict government regulations.
The key product types considered in the report are direct contact weapons and direct energy weapons.
The law enforcement segment dominated the market in 2018 and is expected to register a higher CAGR during the forecast period.
APAC is on track to achieve the fastest growth rate thanks to the rising military expenditure in China and India along with the soaring regional conflicts.