Turkey's Albayraklar Defense Technologies Industry Inc. was awarded a global prize by a prestigious United Kingdom-based business magazine, media reports said Tuesday.

International Finance Magazine which rewards the most successful companies, handed this year's "fastest growing defense company" prize to the Turkish company that stood out with its Wattozz electroshock weapon and Wattozz T61 firearm modification system.

Albayraklar Corporate Group Chairman Adnan Albayrak said that the Wattozz was developed by the company over the course of five years of work and has become a global brand shortly after it was introduced to the market.

Albayrak also thanked CEO Sertan Ayçiçek and those who contributed to the company.

Wattozz, a remote-controlled, multi-shot wireless electroshock weapon, has seen demand from many countries of the world.

The company describes Wattozz as "the most advanced nonlethal law enforcement weapon in the world." The weapon is designed to incapacitate an offender from a safe distance without causing death or permanent injury.

The award ceremony will be simultaneously held in Dubai and Bangkok in the first week of January.