Latin America's largest military technology and weapons trade fair is underway in Rio de Janeiro. This year, companies from all over the world are hoping to profit from the promises of Brazil's president, Jair Bolsonaro. The president, who relaxed gun ownership laws soon after taking power in January, has raised hopes among foreign firms that his next move will be to ease investment restrictions on Brazil's defense sector. Lucrecia Franco, in Rio, reports.

Small guns are a big attraction at this year's LAAD- Latin America's Aerospace and Defense expo, open only to the military, government officials and weapon systems professionals.

Organizers are expecting more than thirty-five thousand visitors to the four-day event and high enthusiasm following installment of Brazil's new pro-gun, pro-military president, Jair Bolsonaro.

SERGIO JARDIM MANAGING DIRECTOR, LAAD "We have a new political cycle that just began in January this year, so the expectation and the hopes of the whole business sector are very positive about the future."

Brazil has historically relied on domestic defense firms to supply its police and military with yearly sales reportedly totalling some 52 billion dollars. But in the era of Bolsonaro, foreign manufacturers are sensing opportunity and new hope for getting a piece of Brazil's expanding defense sector.

Everything from sophisticated missile systems, shoulder mounted grenade launchers and state-of-the-art radar systems are on display. This Gripin fighter jet, from Swedish maker Saab, boasting bombs and missiles proved a popular attraction and photo opportunity for fair attendees.

China's Hytera is a world-leading mobile radio equipment firm and is showcasing a new product, what they are calling a smart radio.

JOHN ZHOU, GENERAL MANAGER HYTERA BRAZIL "If you find someone you take a picture, you send this picture of the man to the control center and the control center can know all the background, the performance of this guy and can give you the feedback immediately."

And while the Brazilian market is the main attraction, vendors are also pitching to other Latin American militaries.

LUCRECIA FRANCO RIO DE JANEIRO "A total of 450 Brazilian and foreign companies are gathering here at the fair to sell military equipment and weapons to representatives from more than 80 countries."

But those expecting major government and private contracts from Brazil, experts say, will need to wait until Latin America's largest economy gets its budget back on track.

Lucrecia Franco, CGTN, Rio de Janeiro.