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Taser could see more competition in the stun gun market it has long dominated as Digital Ally develops its own prototype. (EPA/Newscom)

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Current wireless, long-range offerings fire electroshock projectiles from a regular shotgun, Digital Ally said. But those projectiles, due to the "extreme velocity" at which they're fired, risk killing or badly injuring the people they're fired at. The devices can be expensive and the weaponry too big for someone to carry.

Digital Ally (DGLY) on Tuesday said it plans to enter the nonlethal weapons market that has long been dominated by rival Taser International (TASR), broadening its competition with the company beyond body-worn cameras.

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Project Requirements   Projects must focus on the development of an advanced manufacturing technology or process to improve ISRU.

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Digital Ally, which has focused on developing cameras and digital-video storage technology for law enforcement, has seen its shares slide over the past two years as Taser develops its own body cameras and evidence-management systems.

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6/01/2020 Makers of surveillance, security and law enforcement equipment rose amid protests over the police killing of George Floyd.

Digital Ally said in a release that it has developed the intellectual property for a wirelessly controlled electronic weapon that could shoot a shock-administering projectile at someone. A police officer would be able to operate the weapon, and control the shock delivered by the projectile launched from the weapon, wirelessly through radio frequency, the company said.

IBD'S TAKE: Taser shares jumped the day after the election, on expectations that President-elect Trump might follow through on his promise to be the "law and order candidate." Steel stocks have also surged on Trump's potential plans to direct more money toward infrastructure development.

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"We are now proceeding to develop our product prototype," CEO Stan Ross said in a statement. It was unclear when such a product might be available for sale.

Digital Ally shares closed down 1% at 5.05 in the stock market today, with shares coiling around their 200-day line over the past month. Taser edged up 0.4% to 28.19, trading more tightly in recent weeks as it inches toward the higher end of a consolidation pattern with 30.25 buy point.

Demand for body cameras and evidence-storage systems has risen over the past two years, with scrutiny of law-enforcement practices intensifying following a string of shootings of unarmed black men.

The company said it filed a U.S. patent application for its first electroshock weapon in May of last year and that the application was set to be examined by the U.S. Patent and Trademark Office.

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