At 4.2% CAGR, the Europe Smoke Grenade Market is Projected to be Worth US$ 129.41 Million by 2031, Says Business Market Insights 

According to Business Market Insights' research, the Europe smoke grenade market was valued at US$ 93.44 in 2023 and is expected to reach US$ 129.41 million by 2031, registering a CAGR of 4.2% from 2023 to 2031. Rising global military expenditure and growing demand from ground-to-air signaling applications are among the critical factors attributed to the Europe smoke grenade market expansion.

The defense budget allocation supports army and military forces to procure advanced technologies and equipment from domestic or international developers. There is an increase in military and army vehicle upgrades owing to the growing defense budget allocation. Furthermore, the increasing governmental expenditure showcases governments' focus on strengthening national security forces. There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments/ammunitions, and vehicles, among others; hence, military forces worldwide are focusing on investing significant amounts in procuring pyrotechnic munitions and other less lethal products. Defense forces' constant inclination to acquire new technologies for noncombat and combat operations further boosts military expenditure worldwide.

As per the Stockholm International Peace Research Institute, the US, China, India, Russia, and Saudi Arabia were the top five spenders in 2023, accounting for ~63% of global expenditures. The figure given below depicts the yearly spending of these countries.

Military Expenditure of Top Five Countries (2021–2023)

Source: SIPRI

The increasing military expenditure encourages procurements of pyrotechnic munitions and less-lethal products such as illumination rounds, smoke grenades, flashbang grenades, rubber-bullet shotguns, and concussion grenades. In addition, a high military budget supports the countries in assigning resources for advancing and upgrading their artillery ammunition.

Further, the rise in geopolitical conflicts among countries is another major factor generating awareness among different countries for the procurement of ammunition and pyrotechnic munitions to strengthen their respective armed forces. The rise in regional conflicts has created the need for training and drill exercises for the armed forces, which boosts the demand for smoke grenade market, along with other simulation training products.

On the contrary, certification challenges and the existence of counterfeit products hampers the growth of Europe smoke grenade market.

Based on type, the Europe smoke grenade market is bifurcated into hand operated and launcher operated. The hand operated segment held 75.0% share of the Europe smoke grenade market in 2023, amassing US$ 70.11 million. It is projected to garner US$ 98.14 million by 2031 to expand at 4.3% CAGR during 2023–2031.

Based on application, the Europe smoke grenade market is segmented into signaling, screening and obscuring, riot control, and others. The signaling segment held 44.5% share of the Europe smoke grenade market in 2023, amassing US$ 40.75 million. It is projected to garner US$ 55.50 million by 2031 to expand at 3.9% CAGR during 2023–2031.

Based on end user, the Europe smoke grenade market is segmented into military and law enforcement and commercial. The military and law enforcement segment held 81.9% share of the Europe smoke grenade market in 2023, amassing US$ 76.54 million. It is projected to garner US$ 103.74 million by 2031 to expand at 3.9% CAGR during 2023–2031.

Based on country, the Europe smoke grenade market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. Russia held 30.5% share of Europe smoke grenade market in 2023, amassing US$ 28.52 million. It is projected to garner US$ 36.11 million by 2031 to expand at 3.0% CAGR during 2023–2031.

Key players operating in the smoke grenade market are ARSENAL; Rheinmetall AG; Chemring Group Plc; Condor Non-Lethal Technologies; Nammo AS; NonLethal Technologies, Inc.; Centanex Ltd; 3rd Light Ltd; Wescom Group; and HFI Pyrotechnics Inc, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com