Non-Lethal Weapons Market- Global Segments and Forecast upto 2021
Albany, NY -- (SBWIRE) -- 08/25/2015 -- An increase in the number of riots and public protests, the deployment of military forces in non-combat zones, and a rekindled interest in military spending will collectively contribute to the expansion of the global non-lethal weapons market. Transparency Market Research recently said that the valuation of the global market for non-lethal weapons was US$3,201.6 million as of 2014. The market is expected to reach a value of US$4,868.1 million by 2021, charting a CAGR of 6.1% in this period.
Browse full Non-Lethal Weapons Market report at http://www.transparencymarketresearch.com/non-lethal-weapons-market.html
Urban Warfare Influences Demand for Non-Lethal Weapons
Urban warfare is a challenge that countries – both developed and developing – are trying to effectively contend with. Civil unrest and anti-terrorism operations have necessitated the reliance on non-lethal weapons as they help manage the task at hand effectively while reducing collateral damage.
The global non-lethal weapons market can be segmented on the basis of product type, technology, application, and geography. The product segment is sub-segmented into directed energy weapons, conducted energy weapons, sprays and gases, explosives, and water weapons. As of 2014, the explosives segment accounted for the highest share of the revenue, contributing over 30% to the overall non-lethal weapons market. However, emerging trends in warfare tactics point toward a growing demand for directed energy weapons. It is thus expected that this segment will report healthy growth in the coming years.
Likewise, sub-segments that can be created within the technology segment of the global non-lethal weapons market are: Mechanical and kinetic, acoustic, chemical, electromagnetic, and others. Analysts note that the electromagnetic, acoustic, and chemicals segments are poised to report a healthy CAGR through the next six years.
The applications segment can also be split into law enforcement agencies, military, and civilians. Law enforcement agencies are expected to lead in the usage of non-lethal weapons – this application segment will exhibit a CAGR of 6.1% from 2015 to 2021.
Get the sample report at http://www.transparencymarketresearch.com/sample/sample.php?flag=b&rep_id=5705
U.S. to Hold on to its Leading Position in Non-Lethal Weapons Market
On the basis of geography, the global non-lethal weapons market can be split into: North America, Europe, Asia Pacific, and Rest of the World. In terms of market share, the North America non-lethal weapons market was in a leading position globally, accounting for over 30% of global market revenue in 2014. It is unlikely that this region will be displaced from its premier position over the next few years. The strong position commanded by the North America region in the non-lethal weapons market can be credited to the United States. The country will maintain its leadership as the largest national market for non-lethal weapons globally.
Trailing North America in 2014 were Europe and Asia Pacific – the two regions collectively accounted for over 45% of the market revenue of the global non-lethal weapons market. Although North America will remain the largest, Asia Pacific will report robust growth, making it the fastest-growing region in the global market. APAC is expected to post a 6.8% CAGR between 2015 and 2021.
Companies that have an established presence in the non-lethal weapons market include: The Boeing Company, Raytheon Company, TASER International Inc, BAE Systems Plc, Safariland Group, FN Herstal, LRAD Corporation, General Dynamics Corporation, and PepperBall Technologies, Inc.
Browse the full Non-Lethal Weapons Market press release at http://www.transparencymarketresearch.com/pressrelease/non-lethal-weapons-market.htm
About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.