Smart Weapons Market: Overview
With shift in nature of warfare, demand dynamics of weapons is changing across the globe. Lately, countries are opting for smart weapons. Integration of technology in weapons is shaping smart weapons. Moreover, the integration is facilitating ease of application of these smart weapons. At the same time, it is increasing the risk of causality even in case of slight mistake.
Most of these weapons are powered by laser and similar advanced technology. As a result, it offers high accuracy, reliable shots, and quick hit capability. Also, light weight of the weapon is minimizing the logistics carrying cost. All these factors conjointly are boosting the adoption rate of smart weapons in defense system to enhance security system of country. Although, stringent arm regulations applied in various countries are likely to limit the growth of smart weapons market in forthcoming years.
The upcoming smart weapons market report provides insights about the segments and trends influencing growth of the market. The market report is divided on the basis of product type, end-user, application area, and regions. Further, role of each category is specified in the growth of market in the duration of forecast period (2019-2027).
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Smart Weapons Market: Notable Developments
Lately, Indian Police were supposed to be equipped with with biometric weapon safety and tracking system (WSTS). This will assist in tracking stolen weapons. Also, any stealing case could be easily prevented.
In the past few years, the police filed complaint of numerous incident of gun-snatching. As per the report, since 2016, almost 200 weapons, including AK-47s have fallen into hands of militants.
The weapon safety and tracking system has palm print and finger print scanners built into the grip that helps in operating trigger locks. Further, the integrated GPS in the weapon will enable easy tracking of the weapon, if lost. The devices can only be removed by biometric authorization of the enrolled user.
Some of the pioneers in smart weapons market are-
- BAE Systems plc
- The Boeing Company
- L3Harris Technologies Inc.
- Thales Group
- Raytheon Company