ALBANY, N.Y.--(BUSINESS WIRE)--The global non-lethal weapons market is set to grow at a CAGR of 6.1% from 2015 to 2021. It was valued at US$3,201.6 million in 2014 and is expected to be worth US$4,868.1 in 2021, according to a report released by Transparency Market Research.
The report, titled “Non-Lethal Weapons Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021”, is currently available for sale on the company’s website.
Urban areas around the world are showing a growing need for crowd control equipment. As such, the crowd control weaponry and urban warfare segments are showing major scope for growth of the global non-lethal weapons market.
Major aspects of modern combat involve anti-terrorism operations, insurgency control, and hostage rescue situations. The provision of non-lethal weapons allows for a greater magnitude of control to be exerted by the armed troops to extract the most suitable outcome.
Non-lethal weapons, according to the report, also provide a definite advantage in terms of economy, accuracy, and effectiveness. They also help in avoiding major collateral damage.
Within the various products available in the global non-lethal weapons market, explosives held the largest share in 2014.
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Another segment that promises a large scope of growth is directed energy weapons.
From a technology point of view, the fastest growing segments in the global non-lethal weapons market are electromagnetic weapons, acoustic weapons, and the chemical segment.
Law enforcement agencies are adopting non-lethal weapons at a rapid rate. This segment’s CAGR stands at 6.1% from 2015 to 2021.
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Geographically, Asia Pacific will be the fastest growing region in the global non-lethal weapons market, growing at a CAGR of 6.8% from 2015 to 2021. The market leader till 2014 was North America, holding over 30% of the market.
Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.