Fighter jets and submarines always grab the headlines. But there's a quieter market that grows more steadily — the stuff a soldier actually wears: ballistic helmets, body armor, chemical-protection masks, night-vision goggles, all the way up to cutting-edge heads-up displays. This is the story of an industry that turned "one soldier" into a platform that has to be kitted out and re-equipped, over and over, without end.
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Theme index· base 100 · USD total return
Why is Soldier Systems & Protective Equipment moving?
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Defense budgets and new orders lift soldier gear demand
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Capex-heavy market regime favors defense spending Goldman Sachs says market leadership is shifting to capex-heavy sectors like defense, with S&P 500 capex up 38% year over year. This supports sustained military spending, which ultimately drives demand for soldier systems and protective equipment.
It explains a broad macro force that increases defense budgets, benefiting the theme.
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THEON wins €70M in soldier system orders THEON received about €70 million in new orders, including from Rheinmetall for Germany's Future Soldier program. This shows strong and accelerating demand for soldier systems, with order intake up sharply and further growth expected.
It is a direct, company-level example of rising demand for soldier systems.
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Biodefense market growth boosts CBRN gear demand The biodefense market is projected to grow from $17.7 billion in 2025 to $29.2 billion by 2035, with military applications making up 60%. This directly increases demand for soldier protective equipment like CBRN gear and countermeasures.
It quantifies a growing market that directly pulls demand for protective equipment.
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Axon's non-lethal push and ICE contract Axon may win a $220 million ICE TASER contract, boosting demand for less-lethal gear. But its new Apollo cartridge aims to replace bullets, which could reduce demand for traditional ammunition and some protective gear over time.
It shows both a near-term demand boost and a long-term competitive threat to traditional gear.
Q3 2026
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Soldier Systems Demand Rises on Orders, Budgets, and Conflict
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Strong orders and guidance THEON won about €70 million in soldier system orders, and Cadre raised its guidance on record demand for armor and duty gear, showing customers are buying more protective equipment.
Directly shows demand strength through company orders and guidance.
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Defense budgets and conflict support spending Defense budgets and capital spending trends favor military outlays, while Middle East conflict and a $191.6 million Army wheel/tire contract add to demand for soldier systems and protective gear.
Highlights macro and geopolitical forces driving the sector.
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New medical and CBRN technologies boost gear New FDA-cleared battlefield medical technologies and biodefense growth are increasing demand for CBRN gear and advanced protective equipment for soldiers.
Shows technology and regulation driving new demand areas.
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Less-lethal tech may shift demand Axon's Apollo cartridge aims to replace bullets, potentially reducing demand for traditional ammunition and some protective gear over time, though a possible $220 million ICE TASER contract supports less-lethal gear.
Presents a real counterweight: evolving technology could shift demand away from conventional protective equipment.
News & notes movingSoldier Systems & Protective Equipment
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Soldier Systems & Protective Equipment▲impact 4
TISCO Says Era of Capital Competition Will Keep Interest Rates High Through 2028
The TISCO Economic and Strategic Analysis Center, or TISCO ESU, assesses that global financial markets are entering a phase of capital competition, as governments around the world need to borrow heavily to expand defense budgets while private-sector big tech and hyperscaler firms seek to raise enormous sums to accelerate the buildout of data center infrastructure, chip fabrication plants, AI facilities, and power plants. This is pushing interest rates and government bond yields up by roughly 0.60 to 0.90 percent. Komson Prapakpol, head of the TISCO Economic and Strategic Analysis Center, said the United States plans to expand its defense budget from 1 trillion dollars to 1.5 trillion dollars, an increase of 50 percent, while Japan aims to raise defense spending from below 2 percent to 3.5 percent of GDP, the highest level since the period from 1970 to 1980. Germany and France are also accelerating increases in their security budgets. Thanaphat Thanachat, an analyst at TISCO ESU, said the United States has public debt exceeding 100 percent of GDP, or more than 40 trillion dollars, and a fiscal deficit as high as 6 percent of GDP per year, driving its interest burden to double that of four to five years ago. France's public debt has risen by nearly 20 percent of GDP between 2019 and 2025, with an annual deficit of 5 percent of GDP. As for the interest rate path of the three major central banks, TISCO ESU expects the Federal Reserve to raise rates one more time, by about 0.25 percent, at its December meeting, ending at 4.25 percent, and to hold at that level through 2027 before cutting in 2028. The European Central Bank is expected to raise rates one more time, by about 0.25 percent, in December, while the Bank of Japan is expected to gradually keep raising rates until they reach 1.75 percent in mid-2027. The yield on 10-year U.S. government bonds is expected in the base case to hold steady at 5 percent through the end of 2026, but if the Federal Reserve fails to control inflation, the worst case could see the bond yield rise to 6 percent.
Energy Transition & Power Demand › Grid, Transmission & Power Equipment ▼Capital
TISCO.BK · Monetary · Neutral TISCO ESU forecasts higher-for-longer rates (Fed to 4.25% through 2027), a macro-rate view from the group's research arm rather than a company-specific event.
GM and Ford Expand Century-Old Rivalry Into Defense and Energy Storage
General Motors and Ford are taking their century-old rivalry into defense contracting and energy storage, CNBC reported on September 5. Ford joined GM this year in seeking U.S. military contracts after the Trump administration approached domestic automakers about using their mass manufacturing expertise, but GM is years ahead, already building a backlog around a U.S. Army contract for Infantry Squad Vehicles that could exceed $1 billion depending on congressional appropriations, and GM expects its 2026 defense revenue to grow to almost $700 million while targeting positive earnings in the segment this year. Both companies are also entering the energy storage system market, betting on rising electricity costs and data center power demand, with the global Energy Storage System market projected to grow from $668.7 billion in 2024 to $5.12 trillion by 2034. Ford Energy sits within its Model e electric vehicle segment, which is guided to a $4 billion loss in 2026 before targeting breakeven by 2029, and CEO Jim Farley told investors in July that Ford is in the third inning of selling out 20 gigawatt-hours of energy storage production capacity, backed by a five-year framework agreement with EDF Power Solutions North America.
F · Demand · Positive Ford joined GM in seeking U.S. military contracts and is selling out 20 GWh of energy storage capacity under a five-year EDF framework agreement
GM · Demand · Positive GM is years ahead with a U.S. Army Infantry Squad Vehicle contract potentially exceeding $1 billion and expects 2026 defense revenue near $700 million
EDF Power Solutions · Demand · Positive EDF Power Solutions North America signed a five-year framework agreement backing Ford's 20 GWh energy storage capacity
US strikes Iran, Iran announces missile and drone retaliation
The United States launched strikes on targets of Iran's Islamic Revolutionary Guard Corps (IRGC) inside Iran at 12:00 p.m. Eastern Time, according to U.S. Central Command (CENTCOM), following attempts to attack commercial ships in the Strait of Hormuz and U.S. personnel in the region. CENTCOM has not disclosed the number and locations of the targets hit, nor the munitions used. President Donald Trump said on Truth Social that the strikes were large and powerful, and were retaliation against Iran after it attempted to lay naval mines in the Strait of Hormuz and fired missiles at U.S. bases in Jordan. He warned that if Iran retaliates, the U.S. will escalate with heavier and more severe strikes. Later, Iran's Tasnim news agency reported that the Iranian military has begun decisive operations, and that U.S. bases and interests across the region will be targeted by Iranian missiles and drones. The situation makes a prolonged war more likely and could create political pressure ahead of the U.S. midterm elections in November. A Reuters/Ipsos poll showed Trump's approval rating at 33%, and only 36% of Americans approve of war with Iran. The strikes mark a new escalation in the conflict, after the U.S. and Iran resumed tit-for-tat attacks over the weekend for the first time in about a month. On Sunday, U.S. forces struck a rocket launch site on Iran's Larak Island, and Iran responded by firing missiles at U.S. bases in Jordan, but they were intercepted. The United Arab Emirates also said it intercepted Iranian drones over its waters. The Strait of Hormuz is the world's most important energy transit route; before the war, about one-fifth of global oil supply passed through it, according to the U.S. Energy Information Administration (EIA). The escalation increases risks to shipping and energy transport through the Strait, which could create volatility in global oil markets.
OSI Systems Reports Record Q4 Earnings and Backlog
OSI Systems reported fourth quarter revenues of $484 million, down approximately 4% year over year, while delivering record non-GAAP earnings per share of $3.78, up 17%. Full year revenues reached a record $1.79 billion, up 4%, and adjusted earnings per share grew to a record $10.35, up 11%. The company ended the year with a record backlog of approximately $1.9 billion, and fourth quarter operating cash flow was a record $182 million. Management attributed the revenue shortfall to about $50 million of planned security deliveries deferred beyond the June 30 fiscal year end due to conflict-related delays and site access constraints in the Middle East, emphasizing these are deferred, not lost, orders. For fiscal 2027, OSI Systems guided revenues of $1.875 billion to $1.93 billion and adjusted earnings per share of $11.13 to $11.49.
Stryker Stock Jumps on $100 Million Defense Contract Modification
Stryker shares rose 2.7% after its Stryker Sales unit in Michigan won a $100 million contract modification from the US Defense Logistics Agency. The U.S. Department of Defense announced the award, as reported by MarketScreener. The stock closed at $340.05, up 2.6% from the previous close. Stryker is down 2.3% since the beginning of the year and trading 13.8% below its 52-week high of $394.34 from September 2025.
Virtuix Omni One Orders Jump 150% After Meta Launch
Virtuix Holdings reported first quarter fiscal 2027 results with Omni One orders up 72% year-over-year and approximately 150% since the launch of Omni One for Quest in collaboration with Meta. Net sales were $0.8 million compared to $1.0 million in the prior-year period, which benefited from fulfillment of the final batch of legacy backlog accumulated since 2023. Gross profit increased 29% and gross margin expanded to 30% from 17%, while net loss per share narrowed from $0.28 to $0.22. The company also announced defense expansion including a U.S. Marine Corps Infantry Fireteam Trainer, a counter-UAS trainer, a U.S. Air Force SBIR Phase I award, and first deployment to the Air National Guard. Omni One Enterprise expanded to Tesla for humanoid robot teleoperation, NASA for a Moon and Mars exploration analog mission, and Sirica Therapeutics for AI-driven healthcare.
Cabinet approves 433 million baht central budget for bunkers and broadcast towers along Thai-Cambodian border
The Cabinet approved a central budget of 433,519,268 baht for the Department of Provincial Administration under the Ministry of Interior to carry out a project supporting management and protection of rear areas in Thai-Cambodian border provinces, aimed at strengthening safety for residents and officials and improving communication and warning systems. The budget covers three urgent activities: construction of 1,669 bunkers and shelters worth 361,021,218 baht, construction of 143 village broadcast towers worth 22,880,000 baht, and upgrading the digital special-purpose radio communication system to cover seven Thai-Cambodian border provinces worth 49,618,050 baht. The project will cover seven Thai-Cambodian border provinces and support operations by administrative officials, territorial defense volunteer members, and village security teams. Previously, the Budget Bureau considered a framework of 493,819,268 baht covering four activities, including procurement of 1,675 shotguns worth 60.3 million baht, but because that procurement is still under consideration and legal permission processes, the Ministry of Interior proposed proceeding first with only the three activities that are ready and urgently needed, bringing the amount submitted for approval this time to 433.52 million baht.
Integrated Visual Augmentation Systems Market to Reach $8.22 Billion by 2035
The global integrated visual augmentation systems market is projected to grow from USD 2.99 billion in 2026 to USD 8.22 billion by 2035, a compound annual growth rate of 10.66%. The expansion is driven by military modernization programs, rising defense expenditure, and investment in soldier-wearable technologies. Microsoft, BAE Systems, Elbit Systems, and Lockheed Martin are among the leading companies in the sector. North America holds the largest market share in 2026, supported by substantial U.S. defense spending and procurement infrastructure. The report also highlights technical and regulatory challenges, including battery capacity and varying defense standards across countries.
Cadre Holdings raises 2026 guidance after record Q2
Cadre Holdings reported second-quarter net sales of $207.1 million, up 32% year over year, and raised its full-year revenue guidance to between $749 million and $769 million. Adjusted EBITDA rose 56% to $42.0 million, and the company now expects full-year adjusted EBITDA of $139 million to $144 million. The order backlog reached a record $368 million for the second consecutive quarter, driven by strong demand in nuclear safety, armor, and duty gear. The company also announced a second purchase order of $8.4 million for the U.S. military's Blast Exposure Monitoring program, bringing total BEMO funding to $18.4 million, and highlighted a five-year, $61 million FBI contract awarded to a partner using Safariland ballistic panels. Management expects at least one more acquisition in 2026 and plans to close the Alien Gear manufacturing facility in Idaho over the next 12 to 18 months.
Wrap Technologies Launches WrapTactics Training System, Completing Foundation of WrapShield Platform
Wrap Technologies announced the commercial launch of its WrapTactics Learning Management System, completing the training foundation layer of its six-tier WrapShield human-centered response architecture. The launch follows the ATF's 2026 classification of the BolaWrap 150 as an instrument of restraint, which removes procurement barriers and establishes training as the accountability standard. WrapTactics delivers digital certifications, instructor-led programs, and compliance reporting through Cornerstone's FedRAMP-compliant platform, creating a recurring subscription revenue model tied to continuous training requirements. The system offers three certification pathways—Operator, Agency Instructor, and Master Trainer—and expands WRAP's addressable market into private security, healthcare, education, and other professional safety sectors.
International Motors to lay off 1,341 workers in Ohio after selling plants to Roshel
International Motors is laying off 1,341 employees at its Springfield Assembly Plant and Truck Specialty Center in Springfield, Ohio, following the sale of those operations to Canadian defense and commercial vehicle maker Roshel. The Lisle, Illinois-based truck manufacturer signed an asset purchase agreement under which Roshel will acquire the operating assets of the two facilities and transform them into a U.S. production hub for commercial, specialty and armored vehicles. According to a WARN notice, the sale is expected to close October 2, and virtually all employees at both sites will be terminated on that date, with about 1,314 layoffs at the assembly plant and 27 at the specialty center. International Motors said the contract manufacturing agreement that had sustained the Springfield complex is set to expire September 30, 2026, prompting the search for a buyer. Roshel has not disclosed when it will begin operations or whether International employees will receive hiring preferences.
Roshel · Supply · Positive Roshel acquires operating assets of two plants, expanding its U.S. production capacity for commercial, specialty and armored vehicles.
Hutchinson Industries wins up to $191.6 million U.S. Army wheel and tire assembly contract
TotalEnergies subsidiary Hutchinson Industries has won a firm-fixed-price contract worth up to $191.6 million to supply wheel and tire assemblies to the U.S. Army. The contract, awarded by the Defense Logistics Agency Weapons Support, has a five-year ordering period ending August 2, 2031, and is funded through fiscal 2026 to 2031 Army Working Capital Funds.
Spain's Interior Ministry has reported that around 49,000 migrants entered the city of Ceuta, a Spanish enclave on the North African coast, within the past 24 hours, marking one of the largest influxes in years. Many of the migrants crossed the border from Morocco by land and sea, with some swimming across the sea to reach the shores of Ceuta. The incident has placed heavy pressure on Spanish authorities to manage border security and provide humanitarian assistance. The cities of Ceuta and Melilla are Spanish territories in Africa and represent the only land borders between the European Union and the African continent.
Spain reinforces Ceuta after migrants swim from Morocco, at least 18 dead
Spain has stepped up security measures in Ceuta, its autonomous territory in northern Africa, after thousands of migrants attempted to swim across from Morocco, with at least 18 found dead. Prime Minister Pedro Sánchez and Interior Minister Fernando Grande-Marlaska are due to visit the area on Friday to assess the situation, while the government has deployed troops to join the Civil Guard after migrant reception centres and security agencies came under severe strain. Over the past week, an average of 300 migrants a day have surged into Ceuta, totalling around 1,500, most of them swimming along the coast from Morocco. The rapid increase in arrivals has left centres for unaccompanied minors and other shelters with insufficient capacity, forcing many new migrants to sleep rough in public spaces. Local police and Civil Guard forces have warned that operations are near collapse and they feel overwhelmed, saying the situation is worse than the migrant crisis of May 2021. Ceuta leader Juan Jesús Vivas has called on the central government to declare a national emergency and set up a joint command centre, but the interior ministry rejected the idea, saying the problem does not meet the criteria under civil protection law. The crisis has also spilled into a diplomatic row, after Italian Deputy Prime Minister and Foreign Minister Antonio Tajani proposed suspending Spain's Schengen rights and criticised the Spanish government's decision to regularise over 500,000 undocumented migrants as an incentive for human trafficking. Spanish Foreign Minister José Manuel Albares responded by summoning the Italian ambassador, calling Tajani's remarks inappropriate and urging European unity. Meanwhile, authorities ordered the closure of the Beni Ansar border crossing in Melilla, the only open crossing between Spain and Morocco, after hundreds of migrants tried to storm the border simultaneously. The incident follows a Spanish Supreme Court ruling that bans officials from immediately pushing back migrants arriving by sea, stating that fast-track returns are only allowed when migrants attempt to scale border fences or other physical barriers.
FDA Approves Teleflex's EZPLAZ, the First Licensed Freeze-Dried Plasma Product
Teleflex Incorporated announced that the U.S. FDA has approved its Biologics License Application for EZPLAZ Freeze Dried Plasma, making it the first FDA-licensed freeze-dried plasma product and Teleflex's first biologics license for a blood component. EZPLAZ is indicated for transfusion in adults with bleeding-related conditions requiring replacement of plasma coagulation factors, including uncontrolled hemorrhage, when plasma is needed and other plasma products are not available. Unlike current Emergency Use Authorization products packaged in glass bottles, EZPLAZ uses a patented flexible plastic bag technology designed for easier transport and storage in critical settings such as ambulances, hospitals, and battlefields. The Defense Health Agency partnered with Teleflex through its Warfighter Protection and Acute Care program to develop shelf-stable blood products for frontline medical teams. Teleflex shares closed Wednesday at $134.65, up 0.34%, and rose 1.75% in pre-market trading to $137.00.
3D Systems Enables First FDA Clearance for Implant from a Point-of-Care Institution
3D Systems announced its role in enabling the Defense Health Agency and the Walter Reed National Military Medical Center’s 3D Medical Applications Center to achieve FDA premarket clearance for the 3D MAC Titanium Cranial Plate System, the first-ever FDA-cleared implant granted to a point-of-care institution. The patient-specific titanium cranial plate will treat U.S. active duty personnel and war fighters suffering from traumatic head injuries. The clearance represents the culmination of a multi-year collaboration in which 3D Systems helped establish a robust quality management system and provided support across design, validation, and regulatory submission. This milestone marks 3D MAC’s first FDA-cleared medical device and reinforces 3D Systems’ leadership in guiding healthcare partners from concept to regulatory clearance and commercialization of 3D-printed, patient-specific devices.
Prime Minister Condemns Attack on Paramilitary Rangers, Orders Security Agencies to Step Up Measures to Restore Confidence in Southern Border Provinces
Prime Minister and Minister of Interior Anutin Charnvirakul has condemned the ambush shooting of paramilitary rangers at the Buketa Sami checkpoint in Narathiwat Province, which killed five officers and injured a ten-year-old child, calling it an extremely outrageous act. He has ordered all security agencies, especially the military, police, and administrative authorities, to enhance their prevention, suppression, and intelligence capabilities in order to restore public confidence in the southern border region. The Minister of Defence will travel to the area today to monitor the situation. Meanwhile, Government Spokesperson Ratchada Thanadirek stated that the government will strictly enforce the law against terrorist networks, integrating forces from the Fourth Army Region, the Internal Security Operations Command Region 4 Forward, the Southern Border Provinces Administrative Centre, and the Ministry of Interior to expedite the arrest and prosecution of the perpetrators as quickly as possible, and will provide maximum compensation to those affected in accordance with regulations.
Motorola Solutions earns industry-first NFPA 1930 certification for APX NEXT XN fire radio
Motorola Solutions announced that its APX NEXT XN P25 smart radio and XVN500 remote speaker microphone are the first in the industry to achieve the National Fire Protection Association's NFPA 1930 certification, the highest standard for ruggedization and safety protocols. The certification involved exposure to a 10-second direct flame, heat testing to 500 degrees Fahrenheit, and drop testing from 9.8 feet, overseen by the Safety Equipment Institute. The latest APX NEXT XN model also adds low earth orbit satellite connectivity to its existing land mobile radio and broadband capabilities, extending coverage to half a million square miles of the U.S. that are unreachable by land-based cellular towers. New voice-enabled applications include SmartQuery for accessing agency policies and SmartTranslate for voice-to-voice translation. The radio is already in use by over 1,200 firefighters across 64 stations in DuPage County, Illinois.
Reliance expands US footprint with acquisitions and DHS contracts
Reliance is expanding its U.S. footprint through acquisitions and new contract wins, including significant work with the Department of Homeland Security. The company is targeting growth opportunities in selected U.S. markets, broadening its revenue base in infrastructure and government-related demand. However, Reliance also faces margin pressure from weaker semiconductor and commercial aerospace markets and higher aluminum and other input costs. The stock last closed at $396.02, up 5.2% over the past week and 33.9% year to date.
Edison has issued a report on Theon International, a leading European developer and manufacturer of night vision and thermal imaging systems for military and security applications with a global footprint spanning 72 countries. The company is broadening into platform-based optronics and digital man-portable products, supported by an active M&A programme and structurally rising defence demand. Theon's first-quarter 2026 trading update reiterated mid-term and full-year 2026 guidance with revenues of €570 million to €600 million and mid-20s adjusted EBIT margins. Edison's unchanged valuation approach now suggests €35.3 per share, broadly unchanged from €36.4 previously.
US Stocks Fall as Trump Restarts Iran Blockade; Oil Surges Above $80
US stocks fell on Monday as President Donald Trump reinstated the blockade of Iranian ships transiting the Strait of Hormuz, escalating tensions in the Middle East. The S&P 500 Index declined 0.7% and the Nasdaq 100 Index dropped 1.8%, while Brent crude traded around $83 a barrel. Trump also said the US will be reimbursed 20% of all cargo shipped through the strait. The renewed hostilities follow tit-for-tat attacks between the US and Iran, with Tehran retaliating by targeting US bases in Kuwait, Bahrain, Jordan and Oman. The conflict has raised concerns over inflation and economic growth, though the broader equity rally has remained resilient due to the artificial-intelligence boom and strength in energy and industrials sectors.
BlackRock raises energy security to high-risk category in latest geopolitical outlook
BlackRock has raised energy security to a high-risk category in its latest geopolitical outlook, warning that the conflict involving Iran has exposed the global economy's dependence on energy flows through the Strait of Hormuz and could reshape national economic and investment strategies. The asset manager said disruptions linked to the conflict have created the most significant global energy crisis since the 1970s, displacing more than one billion barrels of crude and one-fifth of the global LNG supply while driving higher energy prices and market volatility. BlackRock maintained a high-risk rating for a broader Middle East conflict, despite a fragile ceasefire between the U.S. and Iran, and warned that reaching a comprehensive agreement covering Iran's nuclear programme remains difficult, leaving the risk of renewed escalation elevated. The report also combined its previous cyber and terrorism categories into a single high-risk assessment, citing growing threats from state-backed cyber activity and increasingly capable artificial intelligence models. Another high-priority risk identified was accelerating technology decoupling between the U.S. and China, with BlackRock expecting artificial intelligence to move closer to the centre of U.S. political debate ahead of the midterm elections. The firm assigned medium-risk ratings to global trade protectionism, U.S.-China strategic competition, the Russia-Ukraine war, transatlantic relations and tensions on the Korean Peninsula.
BRENT · Geopolitics · Positive Article warns of energy security risks and disruptions in Strait of Hormuz, which would reduce supply and boost crude prices.
NATGAS · Geopolitics · Positive Disruptions to LNG supply (one-fifth of global supply) and higher energy prices are positive for natural gas futures.
BLK · Geopolitics · Neutral BlackRock's own report raises energy security risk, but impact on its business is indirect and mixed.
NG · Supply · Positive Energy crisis and higher oil prices could increase interest in gold as a safe haven, benefiting gold miners like NovaGold.
Safariland Selected for FBI Ballistic Panel Contract
Cadre Holdings subsidiary Safariland has been selected as the ballistic panel provider for an FBI armor contract. The selection integrates Safariland's SX HP panels into the Overt Armor Kit developed by Predictive Ballistics LLC, which recently secured a five-year, $61 million IDIQ contract for the FBI and other Department of Justice agencies. The SX HP panel was chosen after a rigorous evaluation against 11 competitors, demonstrating superior ballistic performance, quality, and comfort. This marks a significant commercial milestone for the product, originally introduced in 2025.
CDRE · Demand · Positive Cadre Holdings' subsidiary Safariland selected as ballistic panel provider for FBI contract, securing product integration into a $61M IDIQ award.
Predictive Ballistics LLC · Demand · Positive Predictive Ballistics LLC secured a five-year, $61M IDIQ contract for FBI and DOJ agencies, with Safariland panels integrated into its armor kit.
ATF Ruling Classifies BolaWrap 150 as Restraint, Not Firearm
Wrap Technologies announced that the Bureau of Alcohol, Tobacco, Firearms and Explosives has issued Ruling 2026-2, classifying the BolaWrap 150 as an instrument of restraint rather than a firearm or weapon under the Gun Control Act and the National Firearms Act. The ruling strengthens the company's position in the global public-safety space amid growing demand for non-lethal tools that give officers options earlier in encounters, following the Supreme Court's 2025 decision in Barnes v. Felix requiring full-context evaluation of use-of-force decisions. The BolaWrap 150 deploys a multisensory distraction and non-lethal restraint without pain compliance, and is used by more than 1,000 agencies across the United States and in 60 additional countries.
