At 2.2% CAGR, the South & Central America Smoke Grenade Market is Projected to be Worth US$ 11.03 Million by 2031, Says Business Market Insights 

According to Business Market Insights' research, the South & Central America smoke grenade market was valued at US$ 9.24 in 2023 and is expected to reach US$ 11.03 million by 2031, registering a CAGR of 2.2% from 2023 to 2031. Rising global military expenditure and rise in commercial applications are among the critical factors attributed to the South & Central America 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. 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 existence of counterfeit products hamper the growth of South & Central America smoke grenade market.

Based on type, the South & Central America smoke grenade market is bifurcated into hand operated and launcher operated. The hand operated segment held 73.1% share of the South & Central America smoke grenade market in 2023, amassing US$ 6.75 million. It is projected to garner US$ 8.23 million by 2031 to expand at 2.5% CAGR during 2023–2031.

Based on application, the South & Central America smoke grenade market is segmented into signaling, screening and obscuring, riot control, and others. The signaling segment held 46.2% share of the South & Central America smoke grenade market in 2023, amassing US$ 4.27 million. It is projected to garner US$ 5.01 million by 2031 to expand at 2.0% CAGR during 2023–2031.

Based on end user, the South & Central America smoke grenade market is segmented into military & law enforcement and commercial. The military & law enforcement segment held 83.5% share of the South & Central America smoke grenade market in 2023, amassing US$ 7.71 million. It is projected to garner US$ 9.10 million by 2031 to expand at 2.1% CAGR during 2023–2031.

Based on country, the South & Central America smoke grenade market is segmented into Brazil and the Rest of South & Central America. Brazil held 85.5% share of South & Central America smoke grenade market in 2023, amassing US$ 7.89 million. It is projected to garner US$ 9.54 million by 2031 to expand at 2.4% 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.

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