Smart Guns

PUBLISHED: October 11, 2024

PAGES: 128 Pages

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Description

Global Smart Guns Market to Reach US$467.6 Million by 2030

The global market for Smart Guns estimated at US$309.9 Million in the year 2023, is expected to reach US$467.6 Million by 2030, growing at a CAGR of 6.1% over the analysis period 2023-2030. RFID Technology, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$268.9 Million by the end of the analysis period. Growth in the Biometrics Technology segment is estimated at 5.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$81.5 Million While China is Forecast to Grow at 5.9% CAGR

The Smart Guns market in the U.S. is estimated at US$81.5 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$74.9 Million by the year 2030 trailing a CAGR of 5.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.6% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Global Smart Guns Market - Key Trends & Drivers Summarized

How Are Smart Guns Redefining Firearm Safety and Control?

Smart guns represent a significant technological advancement in firearm safety, offering the potential to reduce unauthorized use and accidents. These firearms are equipped with biometric authentication systems, such as fingerprint sensors or RFID chips, allowing only authorized users to fire the weapon. This innovation addresses major concerns around gun-related accidents and stolen firearms being used in criminal activities. By integrating identity verification technologies, smart guns ensure that even if a firearm is stolen or found by an unauthorized individual, it cannot be discharged. This is particularly relevant in households with children, as the risk of accidental discharges is a major concern among gun owners. In addition to preventing unauthorized use, smart guns also have the potential to provide law enforcement and military personnel with an additional layer of security, preventing their firearms from being turned against them in volatile situations. The introduction of smart guns is gradually reshaping how firearms are perceived, with an increasing focus on safety and responsible ownership.

What Technologies Are Driving the Development of Smart Guns?

The evolution of smart guns is largely driven by advancements in biometric and RFID (Radio Frequency Identification) technologies. Biometric systems, such as fingerprint recognition and grip sensors, allow firearms to be activated only by pre-registered users, ensuring that only authorized individuals can fire the weapon. These systems are highly sensitive and capable of functioning in various environmental conditions, making them reliable even in situations where traditional firearms might fail. RFID technology also plays a crucial role, where firearms can be paired with an RFID-enabled watch or ring, ensuring that only the wearer can discharge the weapon. Further developments in microelectronics and wireless communication are enhancing the efficiency of these systems, with faster authentication times and improved durability. Additionally, innovations in battery technology have enabled smart guns to remain powered for longer periods without frequent recharging, making them more practical for everyday use. As technology continues to advance, the smart gun industry is seeing the incorporation of more sophisticated systems that improve both safety and ease of use.

How Is Consumer Perception Shaping the Adoption of Smart Guns?

Consumer behavior is playing a pivotal role in shaping the demand for smart guns. While the technology offers clear advantages in terms of safety, there is still resistance among certain segments of gun owners who are concerned about reliability and potential technological malfunctions. Many traditional firearm users value the simplicity and durability of conventional guns and may be hesitant to adopt models that depend on biometric sensors or RFID signals. However, growing awareness of gun safety and increasing reports of accidental shootings, especially involving children, are beginning to shift public perception. Among newer generations of firearm owners, particularly those who prioritize safety and responsible gun ownership, smart guns are seen as a viable solution to reduce the risk of unauthorized use. Additionally, in regions with stricter gun control laws, smart guns could serve as a way to comply with regulatory requirements while maintaining access to firearms. As consumer demand evolves, manufacturers are focusing on improving the reliability and ease of use of smart gun technology to meet the needs of a broader audience.

What Factors Are Driving Growth in the Smart Guns Market?

The growth in the smart guns market is driven by several factors related to technological advancements, evolving end-use cases, and shifting consumer attitudes towards safety. One of the primary drivers is the increasing concern over gun-related accidents, theft, and misuse, particularly in households with children or where firearms are more accessible. This has led to a growing demand for safer alternatives, with biometric and RFID-based smart guns offering a solution to these issues. End-use cases, particularly in law enforcement and military sectors, are expanding as these industries explore the potential for smart guns to prevent the weapon from being used by unauthorized individuals in high-risk situations. Additionally, the introduction of stricter gun safety regulations in various regions is pushing manufacturers to develop and market smart guns that comply with new legal standards. As technology becomes more reliable and affordable, more consumers are likely to adopt smart guns, especially those concerned with personal safety and responsible ownership. The combination of these factors, including advancements in authentication technologies and the rise of safety-conscious consumers, is fueling the expansion of the smart guns market.

Select Competitors (Total 44 Featured) -

Biofire Technologies, Inc.
Gun Guardian, LLC
Identilock LLC
iGun Technology Corp
Lockheed Martin Corporation
LODESTAR WORKS, Inc.
NORDSON Corporation
Northrop Grumman Corporation
O.F. Mossberg & Sons, Inc.
Smart Firearms

Product Code: MCP24430

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Smart Guns - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Concerns Over Gun Safety Drive Demand for Smart Gun Technologies
- Expansion of Smart Wearables and Their Use in Firearm Authentication Generates Growth for Smart Guns
- Advancements in Biometric Authentication Technology Strengthen Business Case for Smart Guns
- Rising Demand for Personalized Firearms Security Drives Adoption of User-Recognition Smart Gun Systems
- Increased Awareness About Accidental Gun Deaths Expands Addressable Market for Safety-Oriented Smart Guns
- Integration of IoT and Smart Connectivity Features Creates New Opportunities for Smart Gun Innovations
- Growing Consumer Interest in High-Tech Personal Security Drives Adoption of Smart Guns
- Smart Home Security Systems and Their Integration with Smart Guns Spurs Market Expansion
- Advancements in RFID Technology Propel Growth in Smart Guns with Enhanced User Verification Systems
- Increased Focus on Child Safety Strengthens Demand for Biometric-Enabled Firearms
- Public Safety and Law Enforcement Agencies Drive Demand for Smart Guns with Advanced Control Features
4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Smart Guns Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Smart Guns by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 3: World Historic Review for Smart Guns by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 4: World 16-Year Perspective for Smart Guns by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
- TABLE 5: World Recent Past, Current & Future Analysis for RFID Technology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 6: World Historic Review for RFID Technology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 7: World 16-Year Perspective for RFID Technology by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 8: World Recent Past, Current & Future Analysis for Biometrics Technology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 9: World Historic Review for Biometrics Technology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 10: World 16-Year Perspective for Biometrics Technology by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030

III. MARKET ANALYSIS

UNITED STATES
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 11: USA Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 12: USA Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 13: USA 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
CANADA
- TABLE 14: Canada Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 15: Canada Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 16: Canada 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
JAPAN
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 17: Japan Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 18: Japan Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 19: Japan 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
CHINA
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 20: China Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 21: China Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 22: China 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
EUROPE
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 23: Europe Recent Past, Current & Future Analysis for Smart Guns by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
- TABLE 24: Europe Historic Review for Smart Guns by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 25: Europe 16-Year Perspective for Smart Guns by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
- TABLE 26: Europe Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 27: Europe Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 28: Europe 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
FRANCE
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 29: France Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 30: France Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 31: France 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
GERMANY
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 32: Germany Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 33: Germany Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 34: Germany 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
ITALY
- TABLE 35: Italy Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 36: Italy Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 37: Italy 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
UNITED KINGDOM
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 38: UK Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 39: UK Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 40: UK 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
REST OF EUROPE
- TABLE 41: Rest of Europe Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 42: Rest of Europe Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 43: Rest of Europe 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
ASIA-PACIFIC
- Smart Guns Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 44: Asia-Pacific Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 45: Asia-Pacific Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 46: Asia-Pacific 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030
REST OF WORLD
- TABLE 47: Rest of World Recent Past, Current & Future Analysis for Smart Guns by Technology - RFID Technology and Biometrics Technology - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
- TABLE 48: Rest of World Historic Review for Smart Guns by Technology - RFID Technology and Biometrics Technology Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
- TABLE 49: Rest of World 16-Year Perspective for Smart Guns by Technology - Percentage Breakdown of Value Sales for RFID Technology and Biometrics Technology for the Years 2014, 2024 & 2030