Friday, October 4, 2013

Overview of Non Lethal Weapons Market - Drivers and Restraints Until 2018


Non lethal weapons are designed to be less accurate in killing the living target than other conventional weapons. These weapons are designed to minimize the risk without diminishing the effect of using the weapons. These weapons are often used in combat situations that limit conflict escalation. Global non lethal weapons market is largely driven by complex international relations, political unrest, uncertain economic circumstances and deteriorating security practices in various parts of the world are encouraging armed force and law enforcement officers to use non-lethal weapons, especially in the civil and urban security scenarios. This is the biggest driving factor for the global non lethal weapons market.

Key Takeaways

Also known as less lethal weapons, non-lethal arms are specially designed to incapacitate a vehicle or individual without completely demolishing them. It reduces the impact or injury and minimizes the damage to the person, vehicle as well as the surroundings. These weapons are basically divided into two categories, based on their capabilities, namely, counter-material and counter-personal weapons. Apart from that, the non lethal weapons market has a vast segmentation based on their types, market stakeholders and geographical demand patterns. Based on geography, the industry is further sub-segmented into different countries. On the basis of geography, the industry is segmented into North America, Latin America, Europe, Middle East, Asia and Africa.

  •      Types: Disperse, blunt, non lethal electric devices, anti vehicle and direct energy non lethal weapons
  •     Stakeholders: Ministry of defense, weapon and sub-component manufactures and department of homeland security

Drivers and Forecasting

Global non lethal weapons industry is estimated to rise at a steady CAGR of over 5%. These trends will continue from 2013 to 2018. As of 2013, the market is poised at $880.5 million. However, at the expected compound annual growth rate, the market is anticipated to become worth $1,146.2 million by the end of 2018. These are positive signs for the non-lethal weapons market from the futuristic angle. Changing nature of global warfare, especially in the urban terrains is the biggest driving factor for the industry. Austerity in most western countries and bigger players vying for contracts will create better future for the industry. Based on the current trends, Europe is dominating the global industry, which is followed by North America and Asia. On the basis of the types, crowd dispersal weapons segment is expected to dominate the global industry.

Summary: Nonlethal Weapons Market will grow at steady CAGR. Increasing investments and uncertain circumstances are the biggest driving factors for the industry.