Smart Gun Market Product Driving Factors, Capacity and Growth Rate Analysis to 2025

08th Apr 2020 –   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.

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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.

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 following manufacturers are covered in this report:

  • Armatix
  • iGun Technology
  • Biofire Technologies
  • TriggerSmart Technologies
  • Identilock

Smart Gun Breakdown Data by Type

  • RFID
  • Biometrics
  • Other

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The key point are:

  • To analyze and research the global Smart Gun status and future forecast involving, production, revenue, historical and forecast.
  • To present the key Smart Gun manufacturers, production, revenue, market share, and recent development.
  • To split the breakdown data by regions, type, manufacturers and applications.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends, drivers, influence factors in global and regions.
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

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