The Non-Lethal Biochemical Weapons by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Non-Lethal Biochemical Weapons, The non-lethal biochemical weapons market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.17 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to impact of historical incidents, cost and availability, public perception and acceptance, geopolitical factors, ethical and moral concerns, regulatory frameworks.
The non-lethal biochemical weapons market size is expected to see strong growth in the next few years. It will grow to $3.08 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing demand, ethical considerations, learnings from previous incidents, public perception, cost-efficiency.. Major trends in the forecast period include innovative research and development, increased demand for civilian use, environmental and health concerns, integration of ai and robotic, market liberalization.
Increasing military expenditure is expected to propel the growth of the non-lethal biochemical weapons market going forward. Military expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. Government spending on the military would support the development of various aspects of the military market including non-lethal biochemical weapons. For instance, in December 2022, according to the European Defense Agency, a Europe-based defense agency, member states are spending a record amount of $53.4 USD billion (€52 billion) on the purchase of defense equipment, a rise of 16% compared to 2020. Further, total European defense spending reached a new high of $228.6 USD billion (€214 billion), up 6% from 2020 and continuing a seven-year trend of expansion. Therefore, increasing military expenditure is driving the non-lethal biochemical weapons market.
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The non-lethal biochemical weapons market covered in this report is segmented –
1) By Product Type: Directed Energy, Direct Contact
2) By Operation Type: Defensive, Offensive, Genetic Attack
3) By End User: Military Forces, Law Enforcement Agencies
Development in non-lethal weapons is a key trend gaining popularity in the non-lethal biochemical weapons market. Major companies operating in non-lethal biochemical weapons are developing innovative weapons to sustain their position in the market. For instance, in October 2021, Apasteron Pvt. Ltd, an India-based company operating in non-lethal weapons is developing non-lethal weapons for the Indian army to tackle Chinese soldiers. Vajra, Trishul, and sapper punch are three weapons that are developed that offer more security by tasing and blocking the vehicles of the enemy and also act as a protective glove.
The non-lethal biochemical weapons market report table of contents includes:
1. Executive Summary
2. Non-Lethal Biochemical Weapons Market Characteristics
3. Non-Lethal Biochemical Weapons Market Trends And Strategies
4. Non-Lethal Biochemical Weapons Market – Macro Economic Scenario
5. Global Non-Lethal Biochemical Weapons Market Size and Growth
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26. South America Non-Lethal Biochemical Weapons Market
27. Brazil Non-Lethal Biochemical Weapons Market
28. Middle East Non-Lethal Biochemical Weapons Market
29. Africa Non-Lethal Biochemical Weapons Market
30. Non-Lethal Biochemical Weapons Market Competitive Landscape And Company Profiles
Top Major Players:
- Lamperd Less Lethal Inc
- BAE Systems Inc
- QinetiqGroup Inc
- General Dynamics Corporation
- TASER International Inc
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