Global Non-Lethal Biochemical Weapons Market: Snapshot
The rising occurrence of political unrest and armed violence has compelled governments to look for methods of countering boisterous crowd but without causing injuries. Because non-lethal biochemical weapons optimize the risk of unintended or incidental casualties, there use in dispersing crowd in policing situations has increased. The global non-lethal biochemical weapons market will therefore witness lucrative opportunities in regions exhibiting a high defense expenditure. For instance, the demand for non-lethal biochemical weapons is high in India, South Korea, China, and Turkey is considerably high as these countries showcase a high budget allocation to the defense sector. Besides the market is also expected to gain from the increasing research and development in this sector.
On the downside, stringent regulations, opposition from human rights association, and the declining budget allocation for the defense sector in developed economies will pose threat to the market. Nevertheless, Transparency Market Research (TMR) forecasts the global non-lethal biochemical weapons market to exhibit a CAGR of 8% between 2016 and 2024. At this pace, the market is projected to reach US$2.32 bn by the end of 2024, from a valuation of US$1.17 bn in 2015.
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Middle East and Africa Exhibit Strongest Demand for Non-lethal Biochemical Weapons
Asia Pacific, Europe, North America, Latin America, and the Middle-east and Africa constitute the key regional segments in the global non-lethal biochemical weapons market. Among these regions, the demand witnessed in the Middle East and Africa is the highest. The region held a dominant share of 35% in the overall market in 2015, trailed by North America. This trend is forecast to remain constant through the course of the forecast period, during which Asia Pacific will also emerge as a lucrative market.
The rising allocation to the defense budget and the use of innovative weaponry to counter policing situations are expected to bolster opportunities the non-lethal biochemical weapons manufacturers in Asia Pacific. The demand from the military forces segment is forecast to be the highest in the region. Besides this, the demand for directed energy variant of non-lethal biochemical weapons will be considerably high in North America.
Military Forces to Remain Dominant End-use Segment
Based on end-use, the global non-lethal biochemical weapons market can be bifurcated into law-enforcement agencies and military forces. Among these, the demand witnessed in the latter segment is the highest. As per TMR, the military forces segment accounted for over 82% of the overall market in 2015 and is expected to remain dominant through the course of the forecast period. The rising use of non-lethal biochemical weapons by military forces is ascribable to the increasing need for crowd control across emerging nations. In addition, these weapons offer advanced methods of countering challenges to internal security. This is a crucial factor driving the demand for non-lethal biochemical weapons in countries such as India, Brazil, Ukraine, and Israel.
Some of the key players operating in the global non-lethal biochemical weapons market are Lamperd Less Lethal (Canada), BAE Systems, Inc. (United Kingdom), QinetiqGroup, Inc. (United Kingdom), General Dynamics Corporation (United States), TASER International,Inc. (Arizona), Moog, Inc. (New York), Raytheon Company (United States), Chemring Group PLC. (United Kingdom), Textron Systems, Corp. (United States), and LRAD Corporation (United States).
Non-lethal Biochemical Weapons Market to Gain from Increasing Investments to Strengthen Military Sector
The rising investment on the defense sector of various developed and emerging nations stands as a key factor aiding in expansion of the global non-lethal biochemical weapons market. The rising event of political agitation and outfitted viciousness has constrained governments to search for techniques for countering rambunctious group however without causing wounds. Since non-deadly biochemical weapons advance the danger of unintended or coincidental losses, there use in scattering swarm in policing circumstances has expanded.
In terms of end use segmentation, the market is dominated by military forces rather than its counterpart law-enforcement. This is owing to the rising use of non-lethal biochemical weapons by military forces, further attributed to the growing need for crowd control in the developing and under developed nations such as Israel, Ukraine, Brazil, India, and others. Some of the players functioning in the global non-lethal biochemical weapons market include LRAD Corporation, Lamperd Less Lethal , Textron Systems, Corp., Chemring Group PLC., Raytheon Company, Moog, Inc., TASER International Inc., General Dynamics Corporation, QinetiqGroup, Inc., BAE Systems, Inc., and others.
In between national rivalries, and during characteristic or artificial calamities military utilize non-deadly biochemical weapons. These conditions build the odds of limitless development of non-deadly biochemical weapon market. Developing weaknesses across countries have expanded the guard financial plan across country, which will demonstrate useful for the market
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Developing human help administrations for law authorization is relied upon to support the interest for non-deadly biochemical weapons market. Changing political situations in couple of locales additionally qualities to ascent of the market. Political strife in nations, for example, Israel, Egypt, India, France, Syria, China, and the U.S. have been answerable for the popularity for the non-deadly biochemical weapons market.
Regionally, the market for non-lethal biochemical weapons is dominated by North America on account of the presence of major players. Additionally, this region will also gain notable revenue in the coming years and continue dominance on account of the increasing demand for directed energy variant. On the other side, Asia Pacific will gain a significant revenue in the coming years on account of the increasing investments in military and defense sector.
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