Pyrotechnic Munitions Market Size, Growth, Share by 2031
The pyrotechnic munitions market size is projected to reach US$ 5.83 billion by 2031 from US$ 3.51 billion in 2023. The market is expected to register a CAGR of 6.6% during 2023–2031. Introduction of electric pyrotechnics is likely to remain key trend in the market.
Pyrotechnic Munitions Market Analysis
The increase in demand for border patrolling operations, military cargo operations, search operations, and other ISR operations wherein the signaling pyrotechnics, illumination, and smoke signals are required; is fueling the demand for signaling and illumination pyrotechnic munitions which is driving the market growth. Further, the current ongoing war between different countries in Europe and Middle East regions is another major factor that has generated HAVOC among some of the major pyrotechnic munition customer countries such as Israel, Russia, Ghaza, and Ukraine.
Pyrotechnic Munitions Market Overview
The pyrotechnic munitions products are also used for crowd and riot control operation which enables the defense sector to respond to threats swiftly from a safe standoff and without risk of injury. Crowd control involves non-lethal weapons instead of pyrotechnic munitions, whereas some products such as smoke grenades, and illumination rounds are used during crowd control operations. The crowd control segment mostly involves usage of non-lethal technologies such as tear gas, pepper grenades, etc. wherein pyrotechnic munitions are used in very limited amount by law enforcement forces for crowd control operations. Major products for crowd control pyrotechnics includes smoke & colored smoke grenades and illumination rounds that are used during night operations across remote locations. Thus, such applications of the crowd control products is fueling the segment’s growth over the coming years.
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Pyrotechnic Munitions Market: Strategic Insights
Market Size Value in US$ 3,358.92 Million in 2022 Market Size Value by US$ 4,653.96 Million by 2028 Growth rate CAGR of 5.6% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Pyrotechnic Munitions Market: Strategic Insights
| Market Size Value in | US$ 3,358.92 Million in 2022 |
| Market Size Value by | US$ 4,653.96 Million by 2028 |
| Growth rate | CAGR of 5.6% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Pyrotechnic Munitions Market Drivers and Opportunities
Collaboration of Companies with Defense Forces for Live Training Simulation
The military forces worldwide train their personnel to keep their forces trained at all times. The demand for military training engages various types of military operations involving a lot of pyrotechnic munitions to create a live simulation environment. The pyrotechnic munition companies collaborate with military forces to supply an adequate volume of pyrotechnic munitions for the military’s live simulation training exercises. This has led to an increase in the adoption of live pyrotechnic munitions, such as illumination signal rounds, markers, and smoke grenades. For instance, in April 2021, the US army conducted a live training in Pulaski Country (Arkansas) wherein two Boeing Chinook Helicopters carried out the military cadets for a 4-day exercise. Under this operation, colored smoke canisters, illumination fire rounds, and other types of pyrotechnic munitions were used.
Growing Fleet of Naval Vessels and Aircraft Carriers Worldwide
The increasing fleet of naval fleet across different countries is one of the major factors likely to generate new opportunities for market vendors in the coming years. The rising fleet of naval and aircraft carrier vessels operates continuously across the country’s borders. Every aircraft carrier ship includes either 254 units of MK7 life rafts or 127 units of MK 8 life rafts. Each lifeboat comprises 6 hand flares, 4 units of rocket parachute flares, and 2 units of buoyant smoke signals. Hence, the lifeboats in naval ships or vessels is also likely to boost the adoption of pyrotechnic munitions across the naval forces in the coming years. Further, some of the countries have also been investing in large amounts for the procurement of different types of naval ships which is likely to boost the demand for pyrotechnic munitions in the coming years.
Pyrotechnic Munitions Market Report Segmentation Analysis
Key segments that contributed to the derivation of the pyrotechnic munitions market analysis are product type, application, and end user.
- Based on product type, the pyrotechnic munitions market is divided into signaling & illumination, crowd control, and training. The signaling & illumination segment held a larger market share in 2023.
- By application, the market is segmented into land forces, naval forces, and air forces. The land forces segment held the largest share of the market in 2023.
- In terms of end user, the market is bifurcated into military and law enforcement agencies. The military segment held a significant share of the market in 2023.
Pyrotechnic Munitions Market Share Analysis by Geography
The geographic scope of the pyrotechnic munitions market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America.
North America has dominated the market in 2023 and it is expected to retain its dominance during the forecast period as well. The current riot/protestor events in the US (due to the support of the US to Israel) has been leading to usage of pyrotechnic munitions in large quantities by the law enforcement agencies in the country. This is further expected to drive the demand for pyrotechnic munitions in the recent years. Moreover, the presence of a large number of pyrotechnic munitions manufacturers in North America is propelling the market. Some of the vendors operating in the North America pyrotechnic munitions include PR Tactical Corporation, Picatinny Arsenal, Nammo Perry Inc, and Martinez Specialties Inc are involved in providing the pyrotechnic components in the US and across the world.
Pyrotechnic Munitions Market Report Scope
Pyrotechnic Munitions Market News and Recent Developments
The pyrotechnic munitions market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the pyrotechnic munitions market are listed below:
- The Swiss procurement authority armasuisse has contracted with Rheinmetall to supply a new generation of the tried-and-tested, highly effective Maske 76 rapid smoke/obscurant cartridge, known in Switzerland as the “7,6cm Nebelpatrone 21 mit elektrischer Zündung”, or “7.6cm Smoke/Obscurant Cartridge with Electric Fuse”. (Source: Rheinmetall, Press Release, Feb 2022)
Wescom Group is delighted to announce the acquisition of UK-based military pyrotechnics manufacturer, PW Defence Ltd. (PWD). The acquisition will enable Wescom to expand its defence product portfolio and international sales network, whilst benefiting from new manufacturing and testing facilities. (Source: Wescom Group, Press Release, Feb 2021)
Pyrotechnic Munitions Market Report Coverage and Deliverables
The “Pyrotechnic Munitions Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Pyrotechnic munitions market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Pyrotechnic munitions market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Pyrotechnic munitions market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the pyrotechnic munitions market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the pyrotechnic munitions market in 2023.
Growing Demand for Pyrotechnic Markers Across Defense Forces; Collaboration of Companies with Defense Forces for Live Training Simulation, are some of the factors driving the growth for pyrotechnic munitions market.
Introduction of Electric Pyrotechnics is one of the major trends of the market.
Arsenal JSCO, PR Tactical Corporation, HFI Pyrotechnics, Lacroix, Martinez Specialties, Inc., Primetake Ltd, Pyrotechnic Specialties Incorporated, Rheinmetall AG, Chemring Group PLC, and Wescom Group
The estimated value of the pyrotechnic munitions market by 2031 would be around US$ 5.83 billion.
The pyrotechnic munitions market is likely to register of 6.6% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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