The global sensor-based gun systems market was valued at $12 billion in 2015 and is expected to surpass $15 billion by 2020, says Technavio.
Technavio has announced its latest market research report on sensor-based gun systems for the forecast period, 2016-2020. This market analysis, under the defense vertical, discusses the major drivers and key emerging trends that will influence the growth of the global sensor-based gun systems market during the forecast period. Some of the top vendors listed in this industry analysis include Armatix, DoDaaM Systems, Hanwha Techwin, Rafael Advanced Defense Systems, Saab, and TrackingPoint.
In terms of geographical analysis, the EMEA is anticipated to dominate the global market and is likely to surpass a revenue of $259 million by 2020. The market’s growth in this region will be driven primarily by increasing concerns about illegal migration and rising terrorist activities.
“Many western countries are prioritizing the maintenance of a lean military force, especially after fighting expensive wars for over a decade in countries like Iraq and Afghanistan. Besides, growing protests by political establishments, social activists, and general populations have forced the US government to cut its budget allocation for military forces. The US DoD plans to reduce the army by 40,000 soldiers over the next two years, as well as to reduce the deployed forces in Afghanistan to 5,500 by 2017 from the currently deployed forces of 9,800,” says Avimanyu Basu, a lead analyst at Technavio for defense.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased emphasized on securing international borders
The growing instances of illicit cross-border trafficking and movements have increased the threats to domestic and international security across the globe. This creates the need for tighter security measures to secure the border. In terms of securing international borders, technologies used by Israel have emerged as one of the most accepted countermeasures across the globe. Israel has initiated and implemented various state-of-the-art homeland security mechanism to ensure control over cross-border infiltration. For instance, since July 2015, the MoD of Israel has approved a plan of constructing a laser fencing system along with the Jordan Border covering a distance of 18 miles, which will be funded with $1 billion.
Emergence of smart guns
Smart guns are designed to restrict unintentional usage of guns. They encompass various technologies including proximity sensors, biometrics, RFID, and microchips to distinguish between authorized and unauthorized users. A few smart guns are already available in the market while numerous other prototypes are in the development phase. In 2013, an Irish technology company produced a prototype of an RFID-enabled gun that incorporates passive and active transmitters and receivers, personal recognition, and wireless network technologies. This technologically advanced smart gun can be remotely enabled or disabled through wireless protocols.
Use of 3D printing technology and composite materials
Several companies in the global market are now using 3D printing technologies for the manufacture of gun parts and components. For instance, in May 2013, a US-based company, Yardarm Technologies, unveiled a new smart gun prototype which was designed using 3D printing technology. The company also designed a sensor-based architecture that can be installed on any conventional firearm to enable real-time wireless control of the gun trigger.
3D printing technology helps in producing small and micro components of almost any shape or geometry. It also allows the manufacturers to reduce the overall size of both components and gun platforms. It also permits quick design and rapid changes of internal features in sensors and combat systems, which isn’t feasible with conventional manufacturing methods.
Some of the other prominent vendors identified in this report are dunok, Kalyani, TriggerSmart, and Yardarm Technologies.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Sensor-based Gun Systems Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Small Arms Market 2016-2020
- Global Shooting Ranges Market 2016-2020
- Global Light Weapons Market 2016-2020
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