Published Date : Sep 23, 2016
Growing threat to human life coupled with rising cases of crimes have significantly increased the demand for non-lethal weapons across the world. Governments across the world are striving to modernize their defense and military groups. As a result of this, the deployment of non-lethal or less-lethal weapons is likely to boost over the forthcoming years. The requirement for non-lethal weapons is also considerably high in war inflicted areas for controlling an outraged crowd. In war zones and war torn areas such as Israel, India, Ukraine, and Brazil, the demand for non-lethal weapons is rising at a substantial rate. To establish themselves in the market, manufacturers of non-lethal weapons are focusing on the development of advanced non-lethal weapons which decrease collateral damage along with maintenance of stealth such as directed energy weapons.
Growth in Military Budget to Enable High Affordability of Advanced Non-lethal Weapons
The progress of the non-lethal weapons market can be attributed to the technological advancements taking place in the development of high-end non-lethal weapons. The entry of new players in the global non-lethal weapons market is also propelling the growth of the market. With rising threat from terrorist groups and witnessing an alarming rise in the criminal activities across the globe, the demand for non-lethal weapons among civilians has taken a surge. Civil unrest and unstable political situations coupled with cross border threats have impelled governments to increase their military budget. As a result of the increase in spending capacity of governments on weapons, the sales of non-lethal weapons is likely to rise over the forthcoming years. Moreover, the development of advanced counter personal weapons for citizens is expected to give rise to a plethora of profitable opportunities for manufacturers of non-lethal weapons.
North America to Emerge Global Leader in Deployment of Non-lethal Weapons
The evolution of new warfare tactics is the primary factor driving the growth of the non-lethal weapons market in North America. The expansion of law enforcement organizations further contributed to the rising demand for non-lethal weapons in the region. The North America non-lethal weapons market is expected to expand at a compound annual growth rate of 5.8% from 2015 to 2021.
With reference to all these factors, the global non-lethal weapons market is projected to reach a valuation of US$4.8 bn by 2021 from a market worth US$3.2 bn in 2014. The market is anticipated to expand at a 6.1% CAGR over the forecast period.