Market Size of Latin America Non-lethal Weapons Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South America-Non Lethal Weapons Market Analysis
The Latin American non-lethal weapons market is anticipated to register a CAGR of over 3% during the forecast period.
- The COVID-19 pandemic had a negative impact on the market since there was a decrease in demand for the procurement of new non-lethal weapons by various countries worldwide due to a fall in the production of non-lethal weapons by various manufacturers. Additionally, this led to a decline in the revenues for various manufacturers across the globe, owing to late deliveries of the final product, manufacturing shutdowns, reduction of staff at the production facilities as well as limited availability of components that are essential for the manufacturing of the final product. The post-pandemic scenario has created new opportunities for non-lethal weapons manufacturers. Significant increase in procurement plans by various countries worldwide has given a boost to the production of non-lethal weapons, which is anticipated to lead to growth in the market in the coming years.
- The rise in civilian unrest and protests in the Latin American region has resulted in the governments taking precautions and arming the military and the police forces with non-lethal weapons to tackle such situations.
- Technological advancements, in terms of non-lethal weapons, are expected to provide growth opportunities for the players in the region in the years to come.
