The 10 largest police departments in the United States have paid a combined $1.02 billion in settlements and court judgments for police misconduct cases, with most centered around the improper use of force, according to recent data. This staggering figure underscores a pressing need for innovative, non-lethal tools that can help law enforcement de-escalate encounters without causing injury or loss of life.
Wrap Technologies Inc. (NASDAQ: WRAP) is positioning itself as a key provider in this space with its BolaWrap remote restraint device. The handheld tool discharges an eight-foot Kevlar tether to restrain an individual at a range of 10-25 feet, offering a humane option that does not inflict pain. Developed by award-winning inventor Elwood Norris, the company’s chief technology officer, BolaWrap assists law enforcement in safely controlling encounters, especially those involving individuals experiencing a mental crisis.
The company’s traction is evident: over 140 police departments across the United States received BolaWrap products in 2019, along with law enforcement agencies in 19 other countries. Wrap Technologies has received over 1,700 requests for demos, training, and quotes from U.S. police departments, as well as more than 600 requests from international markets. This demand comes as the global non-lethal weapons market is projected to grow from $6.32 billion in 2016 to $11.85 billion by 2023, according to industry forecasts.
Wrap Technologies currently can manufacture up to 1,800 BolaWrap devices per month and plans to expand production capacity to 3,600 per month. The company strengthened its financial position in June 2020 by raising $12.4 million through a primary share equity placement, with proceeds earmarked for scaling engineering, funding product development, and providing working capital.
Intellectual property is a cornerstone of Wrap’s strategy. The company holds five U.S. patents granted, with eight additional U.S. patents pending, and has filed four trademarks. It also has patents pending in 34 other countries, creating a moat around its technology.
The $1.02 billion in police misconduct payouts—driven largely by excessive force cases—highlights the urgent need for effective non-lethal options. BolaWrap offers a potential alternative that could reduce injuries and legal liabilities for departments. As public scrutiny of policing practices intensifies, the adoption of tools like BolaWrap may become a priority for agencies seeking to rebuild trust and improve officer safety.
For more information on Wrap Technologies, visit the company’s newsroom at https://ibn.fm/WRAP.
