Axon Enterprises Inc.

Axon Enterprises Inc. Overview

Company Headquarters: US

Founded: 1993

Workforce: ~1,160

Company Working: Axon is a global leader in offering body-worn cameras for law enforcement applications. The company, formerly known as TASER International, changed its name to AXON Enterprises in April 2017. The company operates under two business segments: TASER Weapons and Software & Sensors. The company, under its software & sensors segment, develops, manufactures and sells fully integrated hardware and cloud-based software solutions that enable end users to capture, securely store, manage, share, and analyze videos.

The company currently sells body-worn cameras under two brand names that are Axon Body and Axon Flex. In 2018, body-worn cameras accounted for more than 6% of the total company sales largely derived from the US. Of the 69 largest metropolitan area police departments in the US, 46 are on the Axon network. Axon globally sells its products to the military, private security, correctional facilities, federal, local, and state law enforcement agencies, and consumer personal protection markets through its direct sales force, distribution partners, online stores, and third-party resellers. The major competitors of Axon in the body-worn camera market are Motorola Solutions, Panasonic Corp., Reveal Media, Watchguard, and Digital Ally.

Strategy

Axon Enterprises, Inc. consider new acquisitions, joint ventures, or other strategic investments as part of their long-term business plan. These transactions come with several difficulties and risks, such as the possibility that the transaction will not advance their business strategy, that expected synergies will not materialize, that they will not receive a satisfactory return on their investment, that they will have trouble integrating or coordinating new employees, business systems, and technology, that they will experience unexpected liabilities or impairments, and that management's focus will be diverted from their other companies. These occurrences could harm their operating performance, financial health, or cash flow.

SWOT Analysis

Strengths

Strong organic and inorganic strategies to grow in the law enforcement market
Strong R&D activities that help tp deliver innovative offerings
Focus on organic and inorganic strategies
Investment in R&D

Weaknesses

Heavy reliance on the US market for revenue, in 2018, almost 80% of the revenue was generated from the US
The Axon Enterprise is particularly concerned about the high turnover of workers at the lowest levels
Declining per unit revenue for Axon Enterprise

Opportunities

Product enhancement with advanced technology will provide an opportunity to practice differentiated pricing strategies in the new market
Scope for product enhancement with advanced technologies
The Electronic Instruments & Controls business is becoming more and more regulated, making it challenging for unorganised firms to compete.

Threats

Different infringement lawsuits
Fluctuations in foreign currency exchange rates

Key Developments

Date	Approach	Development
December 2019	Product Deployment	Axon was awarded a contract by the Corrective Services New South Wales for the deployment of 336 Axon Body 2 cameras backed by the digital evidence management system
October 2019	Product Deployment	Axon was awarded a contract for the delivery of 1000 Axon Body 3 to the Cincinnati Police Department as a part of Officer Safety Plan 7+ in the third quarter of 2019. The company delivered the first shipment of next-generation body-worn cameras in October 2019
September 2019	Product Deployment	Axon was awarded the following contracts by the California police departments  Oxnard Police Department, CA: 200 Axon Body 3 cameras  San Leandro Police Department, CA: 110 Axon Body 3 cameras on the Officer Safety Plan 7+  Tracy Police Department, CA: 99 Axon Body 3 cameras on the Officer Safety Plan 7+ The company initiated the phased deployment of these cameras in the third quarter of 2019
July 2018	Product Deployment	Axon was awarded a USD 1.63 million contract by the Queensland Police Service for the delivery of body-worn cameras over the period till 2021.
June 2019	Product Deployment	Axon was awarded a USD 1.63 million contract by the Kent Police for the delivery of body-worn cameras over the period till 2024.
April 2023	Product Launch	Axon, the global public safety technology leader, introduced its next-generation body-worn camera, Axon Body 4. Axon Body 4's advanced features are a giant leap forward for handling an incident safely in real-time
March 2022	Partnership	The Maldives Police Service (MPS) has outfitted 200 officers around the nation with Axon Body 3 body-worn cameras and Axon's digital evidence management system, Axon Evidence, according to a recent announcement from Axon, the world leader in connected public safety solutions.
August 2021	Partnership	Axon, a pioneer in connected public safety technology, announced that the Gujarat State Police would provide 10,350 body-worn cameras and Axon's digital evidence management solution to its officers throughout Gujarat, India. The real-time situational awareness software Respond for Devices from Axon will also be used by the Gujarat State Police to deploy a portion of the cameras. Respond for Devices gives supervisors access to location mapping and live streaming, giving them visibility into developing situations to guide decisions about resourcing and backup.
January 2021	Partnership	Axon announced a partnership with private security company Cancom Security Inc. Cancom is one of the first security companies to start equipping security guards with body cameras in the Ontario region with plans to add more in 2021. The company joined the Axon network by purchasing Axon Body 3 (AB3) cameras and licenses to the digital evidence management solution, Axon Evidence
December 2019	Contract	Axon was awarded a contract by the Corrective Services New South Wales to deploy 336 Axon Body 2 cameras backed by the digital evidence management system.
October 2019	Contract	Axon was awarded a contract for the delivery of 1000 Axon Body 3 to the Cincinnati Police Department as a part of Officer Safety Plan 7+ in the third quarter of 2019. The company delivered the first shipment of next-generation body-worn cameras in October 2019.
September 2019	Contract	Axon was awarded the following contracts by the California police departments: Oxnard Police Department, CA: 200 Axon Body 3 cameras San Leandro Police Department, CA: 110 Axon Body 3 cameras on the Officer Safety Plan 7+ Tracy Police Department, CA: 99 Axon Body 3 cameras on the Officer Safety Plan 7+ The company initiated the phased deployment of these cameras in the third quarter of 2019.
June 2019	Contract	Axon was awarded a USD 1.63 million contract by the Kent Police to deliver body-worn cameras by 2024.
May 2018	Acquisition	Axon has acquired VIEVU, one of the public safety camera providers and a subsidiary of The Safariland Group (Safariland). Moreover, Axon and Safariland have also entered into a long-term strategic partnership, with Safariland becoming the preferred holster supplier for Axon's TASER Conducted Electric Weapon (CEW).