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How much money is spent yearly for the police force personal equipment globally
Hello! Thanks for your question about global expenditure on police equipment. In short, I was not able to locate any publicly available global expenditure statistics that separated personal equipment from total spend. However, extrapolating from the data we do have available, we can reasonably assume that between $7.95 billion and $8.5 billion is spent yearly on personal equipment for law enforcement personnel worldwide.
For more a detailed explanation of how I reached this conclusion, please read on.
METHODOLOGY
To investigate your query, I examined industry whitepapers, scholarly articles, textbooks, news media, and market reports to try and locate either a direct reporting of the data you require, or enough contextual data that I could calculate a reasonable estimate for you.
As you will see in the following breakdown, I was able to find a close approximation of the former, but also engaged with the latter to give you the most in-depth analysis possible.
METHOD 1: TOTAL EQUIPMENT SPEND
A recent market report projected the global law enforcement equipment market to reach US $8.5 billion by 2019, with a 4% CAGR between 2015 and 2019. Knowing this CAGR assumption, we can retroactively calculate the current market size at about $7.83 billion. However, this number accounts for all law enforcement equipment, not specifically personal equipment. That means department equipment is included in this larger figure, including vehicles.
METHOD 2: BACK-OF-THE-ENVELOPE CALCULATIONS
To get a more specific figure that can give us a ballpark approximation of the global spend on personal equipment, we will have to perform some back-of-the-envelope calculations using additional data available to us.
I'll take you through this process step-by-step so you can see what assumptions I make, and the data to which I apply them. Essentially, we're going to start with some US-based data points and use global trend data to extrapolate global spend from that.
1. Using a couple of data points on personal equipment costs for police officers in the US, we can get an average equipment cost of about $3,500 per officer in the US (4,640 + 2,487 / 2 = 3,563.5).
3. Multiplying the number of police officers in the US by the average personal equipment cost per officer gives us a total personal equipment cost of about $2.2 billion. (627,949 X 3,500 = 2,197,821,500).
Now that we have an estimated US spend that's specific to personal equipment, we can combine this with global trend information to extrapolate a global total expenditure.
4. According to analyses of UN data, law enforcement spend is highly correlated with GDP; most countries spend (on average) 1% of their GDP on their police force.
5. Dividing our earlier calculation of US personal equipment costs of $2.2 billion, we can divide that number by the US GDP of $18 trillion to yield the percentage of US GDP spent on personal police equipment: about 0.01%.
6. Since the relationship between GDP and law enforcement spend has observed to be broadly similar in all countries at about the same ratio (1%), we can assume the same holds true of proportion of GDP spent on equipment (0.01%).
7. Therefore, to find the total global expenditure on personal equipment for police officers, we can calculate 0.01% of the global GDP ($79.5 trillion as of 2017). Doing so gives us a final figure of $7.95 billion.
FINDINGS
Using the data points from methods 1 and 2, we can reasonably assume that a broad ballpark range for global expenditure on personal equipment for police officers falls somewhere between $7.95 billion to $8.5 billion.
CONCLUSION
To wrap up, somewhere between $7.95 billion and $8.5 billion is spent on police officers' personal equipment worldwide every year. Thanks for using Wonder! Please let us know if we can help with anything else!