(I-BusinessNews.Com, October 07, 2020 ) According to the latest market research report the Less Lethal Ammunition Market is projected to grow from USD 828 million in 2018 to USD 1,106 million by 2023, at a CAGR of 5.95% during the forecast period. Factors such as the increasing demand for less lethal ammunition such as rubber bullets, bean bag rounds, and smoke munitions across the world are expected to drive the less lethal ammunition market during the forecast period.
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Recent Developments
Defense Technology, a brand of The Safariland Group, launched 40mm Blunt Impact Projectile (BIP) Collapsible Gel Rounds.
Rheinmetall received a contract worth USD 3 million from the US Marine Corps to supply day and night-capable 40mm x 46 practice cartridges. These cartridges contain no environmentally damaging substances and are being produced by American Rheinmetall Munitions, Inc.
Lamperd Less Lethal, Inc. announced the signing of an agreement with Defense Optics Group Corporation that deals with dealers in the UK, Africa, Canada, and the US.
By end user, law enforcement segment is projected to grow at the highest CAGR during the forecast period.
Based on end user, the less lethal ammunition market is segmented into law enforcement, military, self-defense, and others. The law enforcement segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the rising trend of militarization of law enforcement agencies worldwide, along with increasing incidences of political disputes and civil unrest.
The rubber bullets segment is expected to lead the less lethal ammunition market during the forecast period.
Based on product, the rubber bullets segment estimated to lead the less lethal ammunition market in 2018. Due to an increase in protests and riots across the world, most countries prefer rubber bullets to bring situations under control. For example, In 2018, the police personnel in Gauteng used rubber bullets to disperse about 2,000 workers belonging to the National Union of Public Service and Allied Workers (Nupsaw), who were protesting outside Dis-Chem’s office in Midrand, Johannesburg. In addition, the police of Argentina fired rubber bullets at protesters who marched in front of the Congress against the upcoming 2019 Budget Bill, which contains steep spending cuts aimed at erasing the country’s fiscal deficit.
North America expected to be the largest market for less lethal market during the forecast period.
North America is expected to lead the less lethal ammunition market during the forecast period. One of the key factors driving the market is the continuous upgrade of non-lethal weapons and munitions with the latest technologies. The US is the major country increasingly investing in less lethal ammunition and related technologies.
Key Market Players
Key players profiled in the less lethal ammunition market report include The Safariland Group (US), Combined Systems, Inc. (US), Federal Ammunition (US), Nonlethal Technologies (US), Rheinmetall AG (Germany), ST Engineering (Singapore), Security Devices International, Inc. (US), Lamperd Less Lethal, Inc. (Canada), Condor Non-Lethal Technologies (Brazil), Less Lethal Africa (South Africa), MAXAM Outdoors S.A. (Spain), and Sellier & Bellot (Czech Republic), among others.
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