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AMMO India 2024
The ammunition market is integral to the global defence industry, underscoring its importance for national security and military efficacy. This report dives into the global ammunition landscape with a special focus on India, highlighting current trends, challenges, and opportunities for growth. Globally, the demand for ammunition is estimated at INR1,29,260 crores1 (USD15.5 Bn)1 in 2023 and is expected to grow to INR184,092 crores1 (USD22.0 Bn)1 in 2032, at a CAGR of 3.95 per cent1 over the next decade. Geopolitical conflicts, increase in the military spending and rising insurgency are the primary reasons for this growth. We observe that nations are ...
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