Smart Gun Market to show substantial growth due to the increasing adoption of automation in law enforcement sector

The Global Smart Gun Market is subject to witness a substantial growth due to the modernization and increasing adoption of automation in law enforcement sector. Factors responsible for sustained market growth for smart gun industry include prevalence of domestic violence, organized crimes, and drugs & arms trafficking. Gun violence is considered as major catalyst for propelling need for gun control, thus driving the market growth.

In addition, increase in cases related to the organized crimes and social unrest are driving need for modernization of firearms used by law enforcement agencies. These factors are expected to drive the growth of smart gun market in the upcoming years. Furthermore, growing incidence of mass shooting and increasing demand for gun control by various NGOs are predicted to fuel market over the forecast years. Increasing demand for smart guns from North American and European region are fostering market growth in the last few years. Strong protest against gun violence in U.S. and growing political pressure are anticipated to offer massive platform for manufacturers and distributors.

The recent technological advancement in the firearm industry coupled with development of the novel products & techniques such as finger print scanner and RFID technology stimulates the market demand for smart guns over the forecast period. Increasing investment for research & development of smart guns coupled with favorable government laws and regulation are projected to offer lucrative growth opportunities for industry players in the upcoming years. Incidence of drugs and arms smuggling are expected to amplify market demand for smart guns in the Asia Pacific and Africa region in the near future.

Emergence of additive manufacturing or 3D printing technology is estimated to play a major role in boosting the growth of smart gun market in the upcoming years. Rise in implementation of additive manufacturing or 3D printing technology is expected to revolutionize production of firearms. Additive manufacturing or 3D printing technology adds successive layers of materials. 3D printing technology is an automated and computer-controlled technology that reduces manufacturing time the product. Current advancements in 3D printing technology is leading to development of metals and composites printing solutions.

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A smart gun is type of a firearm, which can operated by only authorized user and uses various sensing technology to identify its authorized user. Smart guns are also termed as personalized guns. Smart guns commonly consists of different systems that helps to identify an authorized user and fire accordingly. Smart gun systems majorly consists of RFID chips or other proximity sensors, fingerprint recognition system, magnetic rings, and a mechanical lock.

These systems help to prevent unintentional firing, gun thefts, and criminal usage by individuals that are not authorized to use these guns. These factors are expected to stimulate the growth of smart gun market in the upcoming years. However, lack of awareness and reliability concerns among law enforcement officers are predicted to restrain market growth to a certain extent.

The smart gun market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the firearm industry, prevalence of domestic gun violence, and existence of well-established industrial infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the smart gun market with massive growth in forecast period. Countries such as China, Australia and Japan are leading the Asia-Pacific market with increasing incidence of social unrest, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the smart gun market are Biofire Technologies, iGun Technology Co., Safe Gun Technology Co., TriggerSmart Co., Armatix, Inc., Metal Storm Ltd., Smart Tech Challenges Foundation, Ignis Kinetics, Inc., Magloc LLC, and Simtek Co.

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