South & Central America Smoke Grenade Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis.

The South & Central America smoke grenade market size is expected to reach US$ 11.03 million by 2031 from US$ 9.24 million in 2023. The market is estimated to record a CAGR of 2.2% from 2023 to 2031.

Executive Summary and South & Central America Smoke Grenade Market Analysis:

There is a rise in demand for smoke grenades in marking targets or landing zones, signaling, screening devices for army unit movements, law enforcement, and other commercial applications. In addition, the increasing utilization of smoke grenades in army training for ground-to-air and ground-to-ground signaling is projected to boost the smoke grenade market growth during the forecast period. Moreover, setting up smoke grenades in football stadiums in Brazil, Argentina, and other countries has long been a tradition in the region. Hence, the rise in the use of smoke grenades in cultural events, sports events, and celebrations is expected to fuel the market growth during the forecast period. Moreover, the rise in military spending in the region from US$ 46.1 billion in 2022 to US$ 50.7 billion in 2023 is further projected to boost the demand for smoke grenades in the coming years.

Furthermore, upgrading the features of military combat and surveillance vehicles is another major factor likely to propel the growth of the smoke grenade market in the coming years. For instance, in October 2023, the Chilean army opened a bid to acquire 40 new eight-wheel drive all-terrain armored vehicles. These vehicles are expected to be integrated with optional 7.6 mm machine guns and two quadruple smoke grenade launchers. The rise in the enhancements of military vehicles, such as the integration of smoke grenade launchers on military vehicles, is expected to boost the smoke grenade market growth from 2023 to 2031.

South & Central America Smoke Grenade Market Strategic Insights

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South & Central America Smoke Grenade Market Segmentation Analysis

Key segments that contributed to the derivation of the South & Central America smoke grenade market analysis are type, application, and end user.

• Based on type, the South & Central America 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 North America 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 South & Central America smoke grenade market is bifurcated into military & law enforcement and commercial. The military & law enforcement held a larger share of the market in 2023.

South & Central America Smoke Grenade Market Outlook

The rise in commercial applications of smoke grenade products is expected to bring another significant trend in the smoke grenade market. The increasing use of smoke grenades in photography, amateur filming, movie shoots, weddings, and other occasions propels the adoption of smoke grenades for multiple commercial applications. Another major commercial application of smoke grenades is paintball gaming arenas, which involve several non-lethal weapons and ammunition to provide a lifelike simulation for the players. Further, commercial security forces use smoke grenade cartridges to control an emergency, provide security to VIPs, or handle emergency crowd/riot control situations. Such factors have been pushing the growth of smoke grenade market for commercial applications.

South & Central America Smoke Grenade Market Country Insights

Based on country, the South & Central America smoke grenade market comprises Brazil and the Rest of South & Central America. Brazil held the largest share in 2023.

The rise in demand for smoke grenades from military and law enforcement agencies, as well as commercial applications such as sporting events, victory celebrations, concerts, and festivals, is anticipated to drive market growth in the coming years. Smoke grenades are also used for signaling, military training applications, and creating diversions in tactical situations, which is anticipated to fuel the market growth during the forecast period. In addition, the rise in government spending toward strengthening the military and defense sector in Brazil is expected to propel the demand for smoke grenades in the coming years. For instance, Brazil spent nearly US$ 23 billion in 2023, which increased by 3.1% compared to 2022. Key players operating in the value chain of the smoke grenade market include Condor Non-Lethal Technologies, AmmoTerra, and ANSgear.

South & Central America Smoke Grenade Market Report Highlights

South & Central America Smoke Grenade Market Company Profiles

Some of the key players operating in the market 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.

South & Central America 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

South & Central America Smoke Grenade Market Country and Regional Insights