Gun market soars in Brazil under Jair Bolsonaro

The indelible image of Jair Bolsonaro’s presidential campaign in 2018 consisted of the ex-Army captain on a stage in front of cheering supporters, smiling open-mouthed and making finger gun gestures. While Mr. Bolsonaro spoke to many of the fears and concerns of the Brazilian people, one of his most characteristical promises was to loosen the country’s gun laws, to allow the so-called “upstanding citizens” to defend themselves against the “bandits.”

The soon-to-be president judged this to be a popular stance, based on the results of a 2005 plebiscite, in which two-thirds of the electorate voted against the blanket ban of firearm sales in Brazil.

Mr. Bolsonaro’s pro-gun arguments were a nod toward public security—a crucial issue in the 2018 election—but they also caused weapon manufacturers to look at Brazil as a promising market. Before, though the trade of firearms and ammunition is regulated in the country, the arms sector within Brazil never really got off the ground, with local players focusing much more on exports than the highly restricted domestic market. For instance, Brazil’s largest arms manufacturer Taurus sends 90 percent of its production abroad.

Yet, even with the heavily restricted local market, Brazil is one of the three biggest players in the global firearms sector, accounting for 9.5 percent of world...