According to a new market research report. now available on ASDReports, "Non-Lethal Weapons Market by Product (Offensive, Direct contact, & Directed energy weapon), by Technology (Electromagnetic, Mechanical & Kinetic, Acoustic, Ancillary, and Chemical), by End-User (Law enforcement agencies, defense) - Global Forecasts, Trends & Analysis to 2014 - 2020", the market is estimated to be valued $5,235.36 million in 2014 and is projected to register a CAGR of 5.45% to reach $7,198.24 million through 2020.
The key challenge faced by the non-lethal weapons market is the lack of proper training of the forces with regard to use the weapons during the times of war or homeland security purposes; this leads to injuries caused to civilians. Proper training can make sure that the weapons do not prove to be fatal.
North America accounts a significant share in the non-lethal weapons market. Europe is projected to witness a strong growth due to the increase in investments on homeland security forces in countries such as Germany, Russia, and the U.K. Technological advancements in the non-lethal weapons market are estimated to increase the demand for these systems from the law enforcement agencies and the defense segment, hence driving the non-lethal weapons by 2020.
Government regulations and policies against the use of these weapons on the civilians in European and the Middle Eastern countries are estimated to restrict the growth of this market. The inclination of the law enforcement agencies towards buying more non-lethal weapons in order to maintain the safety and security of public and property is projected to contribute to the growth of this market, globally.
The market is segmented on the basis of the key products, technologies, end users, and regions. The competitive landscape includes an analysis of the market share of the leading companies in the non-lethal weapons market. The report includes analyses of the impact of the main drivers and restraints country-wise, and region-wise to give better insight into the non-lethal weapons market. Industry and market trends have also been highlighted, which would provide competitive market intelligence to utilize business opportunities.
Key players profiled in the report are Raytheon Company (U.S), BAE Systems (U.K.), Non-Lethal Technologies (U.S.), LRAD Corporations (U.S.), Taser International Inc (U.S)., Lamperd Less Lethal (Canada) , Combined Systems Inc. (U.S.), Condor Non-Lethal Technologies (Brazil), Daekwang chemicals corporations (South Korea), Fox Labs (U.S.), Eagle Industries (U.S.), and The Safariland Group (U.S.).
Source: ASDReports - Market Research
Date: Mar 10, 2015