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 taking proactive measures to secure their borders as regional conflicts boil over. With increased demand, the global ammunition supply is set to increase and become efficient with the advent of robust technologies.

Finally, the report outlines steps for the growth of India’s ammunition production capabilities. There is a clear need for increased investment in Research and Development (R&D), improved financial incentives to attract foreign players for access to technology and a short- to long-term plan on identifying export opportunities. Such measures will dictate India’s right to win at the centre stage of the global ammunition industry and increase its soft-power and global relevance for years to come. As India continues to focus on self-reliance and innovation, the future of its ammunition market looks promising, ready to meet both domestic and global defence needs. This optimistic outlook reflects a nation on the precipice of significant advancements, poised to make substantial contributions to the global defence landscape.