Electrical Weapons Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 1.67 Billion |
| Market Size (2029) | USD 2.28 Billion |
| CAGR (2024 - 2029) | 6.34 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electrical Weapons Market Analysis
The Electrical Weapons Market size is estimated at USD 1.67 billion in 2024, and is expected to reach USD 2.28 billion by 2029, growing at a CAGR of 6.34% during the forecast period (2024-2029).
The electrical weapons market is poised to witness significant growth in the coming years owing to the increasing need for effective self-defense solutions for law enforcement as well as military agencies. Factors such as the growing number of violent clashes worldwide have led various law enforcement agencies to increase their acquisitions of electrical weapons, which is expected to drive the growth of the market studied. The increase in the number of investments by electrical weapons companies to develop technologically advanced weapons that are cost-effective and provide high countermeasure capabilities is anticipated to lead to the growth of the market studied during the forecast period.
On the other hand, the growing number of legal and regulatory challenges coupled with the potential capability of misuse of electrical weapons by law enforcement or military personnel are expected to hamper the growth of the market studied in the long run. Nevertheless, the growing integration of electrical weapons with advanced technologies such as IoT and the growing potential for the need for electrical weapons globally are expected to open up new business opportunities for various manufacturing companies, leading to significant growth in the market studied.
Electrical Weapons Market Trends
Law Enforcement Segment Will Showcase Remarkable Growth During the Forecast Period
The law enforcement segment is anticipated to show significant growth in the electrical weapons market. There has been noteworthy growth in terms of the need for the usage of electrical weapons by law enforcement agencies worldwide, with conducted electrical weapons such as taser guns gaining greater significance. The need for such weapons has primarily been boosted by the increasing number of violent clashes between police and civilians in recent years. The rise in such cases has led to enforcement personnel being issued with electrical weapons ranging from electric shock batons and other hand-held weapons to weapons capable of delivering dart-like projectiles that administer an electric shock to a person located at some distance. Various companies have also invested in integrating advanced technologies into their products to provide a competitive edge to law enforcement agencies. For instance, in June 2023, the Salt Lake City police department announced that they would be making use of new stun guns as well as other devices, which have been demonstrated by the company Axon Enterprises Inc. The new range of tasers comes equipped with ten cartridges and fire one probe per shot, thereby allowing precise contact with the target.
Asia-Pacific to Dominate the Market During the Forecast Period
Asia-Pacific holds the highest shares in the market studied and is expected to continue its domination during the forecast period. Factors such as growing investments by various countries in the Asia-Pacific for procurement of advanced electrical weapons for law enforcement as well as the military are expected to generate growth in the market studied.
According to the data presented by the Armed Conflict Location and Event Data Project (ACLED), there has been a significant growth in conflicts in the Asia-Pacific region in recent times. Violent clashes in countries such as India, Japan, South Korea, and Myanmar have led to growth in the need for new electrical weapons acquisitions within the region. Furthermore, various manufacturing companies in the Asia-Pacific are now also looking forward to investing significantly in research to develop hi-tech electrical electrical weapons.
For instance, in October 2021, a startup firm based in Uttar Pradesh, India, announced that they had developed new taser weapons to help law enforcement agencies in situations where the use of deadly force is not authorized. The electrical weapons that were developed by Apasteron Pvt. Ltd has been manufactured under the request made by the Indian security forces after their violent clashes against the Chinese troops. In addition, the electrical weapon, which has been dubbed Vajra, was designed as a trident. It is a metal rod taser used in hand-to-hand combat scenarios with the additional ability to penetrate bullet-proof vests.
Electrical Weapons Industry Overview
The electrical weapons market is fragmented, with various players dominating the market. Some of the major players in the electrical weapons market are General Atomics, RTX Corporation, BAE Systems PLC, Lockheed Martin Corporation, and Honeywell International Inc., among others.
The market is characterized by intense competition with the presence of major key players. In the present scenario, various electrical weapons manufacturing companies are partnering with different technological firms to integrate advanced technologies in the development of the product, thereby creating product differentiation to capture greater market share. Moreover, growing investments in research are also being carried out by electrical weapon manufacturing companies to develop high-end products that meet the requirements of law enforcement as well as the military worldwide and also to expand their product portfolio. Furthermore, the increasing development in terms of new-age technology by technology-based firms is expected to open up new business opportunities, driving the growth of the market studied during the forecast period.
Electrical Weapons Market Leaders
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General Atomics
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RTX Corporation
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BAE Systems plc
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Lockheed Martin Corporation
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Honeywell International Inc.
*Disclaimer: Major Players sorted in no particular order
Electrical Weapons Market News
April 2023: Law enforcement agencies in the capital city of Argentina, Buenos Aires, announced that they are planning to import 150 taser guns in the coming years and will be using such guns once proper training regarding their usage has been acquired.
January 2023: Axon Enterprise Inc. unveiled the Taser 10. It is the first product unveiled by the company after they announced a goal to help reduce gun-related deaths between law enforcement agencies and the public by more than 50% in the coming years. Furthermore, the Taser 10, with a maximum range of forty-five feet, will provide more distance coverage to help law enforcement officers resolve conflicts with greater ease.
Electrical Weapons Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Railgun
5.1.2 Directed Energy Weapons
5.1.3 Stun Guns
5.1.4 Tasers
5.1.5 Other Types
5.2 Application
5.2.1 Law Enforcement
5.2.2 Military
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Mexico
5.3.4.3 Rest of Latin America
5.3.5 Middle East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 Qatar
5.3.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 General Atomics
6.2.2 RTX Corporation
6.2.3 BAE Systems PLC
6.2.4 Axon Enterprise Inc.
6.2.5 EURO SECURITY PRODUCTS s.r.o. (Ltd)
6.2.6 March International Ltd
6.2.7 Lockheed Martin Corporation
6.2.8 Northrop Grumman Corporation
6.2.9 Honeywell International Inc.
6.2.10 Stun & Run Self Defense LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Electrical Weapons Industry Segmentation
Electrical weapons, which are majorly known as conducted energy devices, are self-defense weapons that make use of electrical energy to incapacitate the target temporarily. Such weapons deliver electric shocks that disrupt the normal functioning of the target and immobilize it for short periods. Electrical weapons have gained prominent usage in recent years in law enforcement agencies as well as the military.
The electrical weapons market is segmented into type, application, and geography. By type, the market is segmented into railguns, directed energy weapons, stun guns, tasers, and other types. Other types include stun belts and stun shields. By application, the market is segmented into law enforcement and military. The report also covers the market sizes and forecasts for the electrical weapons market in major countries across different regions. The report offers the market size in value terms in USD for all the abovementioned segments.
| Type | |
| Railgun | |
| Directed Energy Weapons | |
| Stun Guns | |
| Tasers | |
| Other Types |
| Application | |
| Law Enforcement | |
| Military |
| Geography | ||||||
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Electrical Weapons Market Research FAQs
How big is the Electrical Weapons Market?
The Electrical Weapons Market size is expected to reach USD 1.67 billion in 2024 and grow at a CAGR of 6.34% to reach USD 2.28 billion by 2029.
What is the current Electrical Weapons Market size?
In 2024, the Electrical Weapons Market size is expected to reach USD 1.67 billion.
Who are the key players in Electrical Weapons Market?
General Atomics, RTX Corporation, BAE Systems plc, Lockheed Martin Corporation and Honeywell International Inc. are the major companies operating in the Electrical Weapons Market.
Which is the fastest growing region in Electrical Weapons Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electrical Weapons Market?
In 2024, the North America accounts for the largest market share in Electrical Weapons Market.
What years does this Electrical Weapons Market cover, and what was the market size in 2023?
In 2023, the Electrical Weapons Market size was estimated at USD 1.56 billion. The report covers the Electrical Weapons Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electrical Weapons Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electrical Weapons Industry Report
Statistics for the 2024 Electrical Weapons market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Electrical Weapons analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
