9 July 2019 – 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.
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.
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.
Market Segment:
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
Smart Gun Breakdown
Data by Application
• Law Enforcement
• Defense
• Other
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