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INT’L – INDUSTRY INSIDER – Insights on the Worldwide Shotgun and Rifles Industry to 2025

Technological advancements like the Internet of Things (IOT) and the penetration of digitalization are driving the growth of the market currently. One such result of the penetration of the technological advancements in this industry is the smart gun technology. Though this technology is available for the industry since a long time, their demand has seen a surge in the number of lost/stolen rifles and shotguns in countries such as United States of America in the last 5-10 years. Even though the numbers reduced in the last two years, they are still significantly high, which has resulted in the regaining of traction in terms of emphasis on smart guns. Smart guns can only be operated by its legal owner and prevents the access by other people. This can help in lowering the gun related injuries and homicides. A law passed in New Jersey requires every gun shop to sell only smart guns three years after the technology is commercially available. 40% of the gun owners in United States are ready to adopt smart guns. Many new startups in United States have started focusing on development of smart guns again after the backlash the market received during 2014-2015 by gun right activists, National Rifle Association, retailers, and others. SAAR, a Switzerland based company is planning to start selling smart assault rifles equipped with user recognition technology to law enforcement agencies. The company aims to start selling the gun from second half of 2020. Increasing use of RFID and fingerprint recognition technology is fueling the market growth for smart guns. Such developments are expected to help the growth of the market in the years to come.  [full article]

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