Asia Pacific Smoke Grenade Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis.

The Asia Pacific smoke grenade market size is expected to reach US$ 132.41 million by 2031 from US$ 72.81 million in 2023. The market is estimated to record a CAGR of 7.8% from 2023 to 2031.

Executive Summary and Asia Pacific Smoke Grenade Market Analysis:

Asia Pacific accounted for 24.5% of the total smoke grenade market share in 2023 and is expected to register a CAGR of 7.8% from 2023 to 2031. The market growth can be attributed to the rise in demand for smoke grenades in applications such as signaling, helicopter landing zone creation, screening, riot control, obscuring, and other commercial applications. In addition, the key factors driving the smoke grenade market growth include the growing demand from ground-to-air signaling, increasing military expenditure, and growing utilization of smoke grenades in commercial applications such as photoshoots, movie production, sports events, cultural events, and festivals. As per the report from SIPRI, the military expenditure in Asia Pacific was valued at US$ 595 billion in 2023, an increase of 4.4% from 2022 to 2023. In addition, China and India are among the top five countries worldwide for military spending. Such a rise in military spending in the region is anticipated to drive the smoke grenade market growth from 2023 to 2031.

Asia Pacific Smoke Grenade Market Strategic Insights

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Asia Pacific Smoke Grenade Market Segmentation Analysis

Key segments that contributed to the derivation of the Asia Pacific smoke grenade market analysis are type, application, and end user.

• Based on type, the Asia Pacific smoke grenade market is bifurcated into hand operated and launcher operated. The hand operated held a larger share of the market in 2023.
• Based on application, the Asia Pacific smoke grenade market is segmented into signaling, screening and obscuring, riot control, and others. The signaling held the largest share of the market in 2023.
• Based on end user, the Asia Pacific smoke grenade market is bifurcated into military & law enforcement and commercial. The military & law enforcement held a larger share of the market in 2023.

Asia Pacific Smoke Grenade Market Outlook

Military departments of various countries have been focusing on upgrading their respective military vehicles and equipping them with cutting-edge smoke grenade systems, which is further catalyzing the growth of the smoke grenade market. For instance, in January 2024, the Indian Defence Research and Development Organisation (DRDO) announced the completion of development and integration of its "new age smoke protection system" into military vehicles. This system allows the vehicle to generate moving smoke curtains that hamper the enemy's capability to predict and target the vehicle. Further, the system is able to generate smoke clouds instantly that offers instant protection in surprise attack scenarios. The DRDO's new-age smoke protection system also includes capabilities such as integrated countermeasures that incorporate infrared jamming and decoying capabilities, enhancing the protection from laser-guided and other direct energy weapons. The emergence of such systems can also be attributed to the rise in the deployment of suicide/kamikaze drones in military forces, which have the capabilities to identify, locate, and destroy the target assigned to them. Smoke grenades allow the military vehicle to generate a shield across itself to get enough time to escape and protect itself from incoming threats.

Hence, the procurement of military ground vehicles with upgraded smoke grenade technology in large numbers across different military forces is another major factor likely to generate new opportunities for market vendors in the coming years.

Asia Pacific Smoke Grenade Market Country Insights

Based on country, the Asia Pacific smoke grenade market comprises Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held the largest share in 2023.

Smoke grenades are used in several applications, including photography, filmmaking, military and law enforcement, and other commercial applications. They are also used in applications such as smoke screening, fighting, evacuation, public safety, and others. The government initiative and investment toward the stock up of ammunition solutions or military equipment by investing in the sector is anticipated to fuel the demand for smoke grenades in the coming years. As per the report from SIPRI, the military expenditure in China, estimated at US$ 296 billion in 2023, increased by 4.3% from 2022 to 2023. In addition, China ranked second in military expenditure, accounting for 12% of the total share globally. Such rise in military expenditure by the Chinese government is anticipated to drive the smoke grenade market growth during the analyzed timeframe.

Asia Pacific Smoke Grenade Market Report Highlights

Asia Pacific Smoke Grenade Market Company Profiles

Some of the key players operating in the 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. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Asia Pacific Smoke Grenade Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Asia Pacific Smoke Grenade Market Country and Regional Insights