Axon Faces New Competition as Law Enforcement Tech Market Shifts

Axon Enterprise NASDAQ: AXON has long dominated law enforcement technology, securing its position as a leader in less-lethal policing solutions. Its suite of products, including Taser weapons, body cameras, and digital evidence management software, has become a primary provider for police agencies nationwide. Investors have taken note, pushing Axon’s stock higher and bringing its market capitalization near $50 billion.

Despite this stronghold, Axon is facing growing competition. Under increasing public scrutiny, law enforcement agencies seek safer alternatives to compliance tools like Tasers.

A Market Ripe for Disruption

Technologies that offer pain-free compliance have been gaining traction. Wrap Technologies NASDAQ: WRAP, the maker of BolaWrap, is emerging as a direct competitor to Axon and positioning itself as a leader in next-generation public safety technology.

Despite Axon’s dominance, some agencies are voicing concerns about its closed ecosystem and rising costs. Departments using Axon’s tools often commit to long-term contracts bundling equipment with proprietary cloud-based software, leading to recurring expenses that strain municipal budgets.

Beyond financial concerns, the effectiveness of Tasers is also debated. While marketed as an alternative to deadly force, Tasers are not foolproof. A 2019 APM Reports investigation found that 106 of 250 fatal police shootings occurred after a Taser was deployed. The same report showed Tasers fail to subdue a subject 40% of the time, depending on factors such as clothing thickness and probe placement. When non-lethal tools fail, officers often resort to physical altercations, increasing injury risks.

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Public scrutiny of policing tactics continues to rise, with body cam and smartphone footage fueling calls for reform. Agencies are looking for safer solutions, opening the door for Wrap Technologies.

BolaWrap: A Less-Lethal Alternative

Wrap Technologies developed BolaWrap to provide a pain-free method of restraint. The device deploys a Kevlar tether to wrap around a subject’s arms or legs, temporarily restricting movement when verbal commands fail. This allows officers time to de-escalate situations without force.

BolaWrap is particularly useful in encounters involving individuals experiencing a mental health crisis or those who are unarmed and non-compliant. By reducing reliance on pain-based tools, officers can focus on de-escalation.

Since its 2018 launch, more than 1,000 U.S. police departments have adopted BolaWrap. International expansion has also accelerated, with the product now used in over 40 countries, including Italy, Morocco, and Chile.

Managed Safety and Response (MSR): A New Approach

Following the widespread adoption of BolaWrap, Wrap Technologies has also recently expanded its approach to law enforcement innovation by introducing its Managed Safety and Response (MSR) program. This full-service, managed solution equips departments with Wrap’s made-in-America tech stack while integrating ongoing support and training for police departments.

Virginia became the first state to pilot MSR following an announcement by Gov. Glenn Youngkin in November 2024. After a successful trial, Wrap expanded its training offerings to include video content for daily roll calls, digital short courses, immersive VR scenarios, and AI-driven coaching.

Wrap recently acquired W1 Global to enhance its training capabilities, bringing in former FBI, DEA, and DoD experts to bolster its operational support.

A More Competitive Market for Law Enforcement Tech

While Axon’s stock remains strong, investors should take note of the shifting law enforcement technology landscape. Agencies demand more options, lower costs, and solutions focused on de-escalation rather than pain compliance.

Wrap Technologies is positioning itself as a formidable competitor, offering tools that help reduce injuries, mitigate liability, and improve public trust. Whether this signals a broader market shift remains to be seen, but as policing evolves, so too will the competitive landscape for law enforcement technology.

Featured Image Credit: Photo by Brett Sayles; Pexels

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