Global Sensor-based Gun Systems Market to Reach US$ 10.7 Billion by 2032, Impelled by Rising Concern for Firearm Safety

October 04, 2023 | Aerospace and Defense

According to the latest report by IMARC Group, titled "Sensor-based Gun Systems Market Report by Type (Sensor-based Man-Portable Guns, Sensor-based Turret Guns), Application (National Defense, Law Enforcement), and Region 2024-2032," the global sensor-based gun systems market size reached US$ 5.6 Billion in 2023. A sensor-based gun system is a technologically advanced firearm that integrates various sensors, such as biometric, RFID, and gyroscopic sensors, to enhance the security, accuracy, and functionality of the weapon. The core premise behind these systems is to augment the safety measures surrounding firearms and to reduce unauthorized or accidental discharges. By deploying sensor technology, these guns can be programmed to function only when activated by an authorized user, hence providing an additional layer of safety and accountability. These systems are increasingly being adopted by law enforcement agencies, military organizations, and private security firms across the globe to elevate operational efficacy and lower the risks associated with conventional firearms. The technology is making headway into various sectors, offering a wide range of applications from personal safety to advanced warfare systems.

Global Sensor-based Gun Systems Market Trends:

The global market is primarily driven by the rising concern for firearm safety, which has led to increased investments in smart gun technology to prevent unauthorized use. This is particularly pertinent given the high incidence of gun-related accidents and violence in various parts of the world. Another key driver is the technological advancement in sensor technology itself, making the systems more reliable, accurate, and affordable. As law enforcement agencies and military organizations seek to modernize their equipment, the adoption rate of sensor-based gun systems is expected to surge. Furthermore, the market is positively influenced by governmental policies advocating for the incorporation of smart gun technology in firearm purchases, thereby establishing a legislative framework conducive to market growth. On the innovation front, companies are focusing on the development of IoT-enabled firearms that could potentially offer real-time tracking and analytics, thereby creating a new avenue for market expansion. Additionally, the growing emphasis on sustainable and eco-friendly materials in the manufacturing of sensor-based gun systems is also becoming a significant trend. As we look to the future, the amalgamation of artificial intelligence with sensor-based systems is anticipated to open new horizons, thereby cementing the market's long-term growth potential. Looking forward, the market value is projected to reach US$ 10.7 Billion by 2032, expanding at a CAGR of 7.25% during 2024-2032.

Market Summary:

On the basis of the type, the market has been categorized into sensor-based man-portable guns and sensor-based turret guns. Presently, sensor-based man portable guns represent the largest segment.
Based on the application, the market has been segmented into national defense and law enforcement. Currently, national defense dominates the market.
Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Among these, North America holds a leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include iGun Technology Corporation, Thales Group and Yardarm Technologies Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Type Application Region
Types Covered	Sensor-based Man-Portable Guns, Sensor-based Turret Guns
Applications Covered	National Defense, Law Enforcement
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	iGun Technology Corporation, Thales Group, Yardarm Technologies Inc., etc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Sensor-based Gun Systems Market to Reach US$ 10.7 Billion by 2032, Impelled by Rising Concern for Firearm Safety

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