Product Code: ETC109663 | Publication Date: Jul 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India small caliber ammunition market Outlook is expected to witness a significant growth in the coming years owing to increasing demand from defense sector for procurement of various weapons and ammunition. The rising security concerns over cross-border conflicts as well as domestic terrorism have been leading India towards increased military spending. This, in turn, has led to an increase in the demand for small arms and light weapons (SALW). Furthermore, India ranks among the top five countries globally with highest number of total SALWs held by civilians which further increases its expenditure on small caliber ammunitions every year.
The major drivers contributing towards growth of IndiaSmall Caliber Ammunition Market include: increasing focus on modernization of India armed forces such as army, navy and air force; growing defense expenditure by India government; launch of new initiatives like Make In India campaign & skill development program resulting into improved local manufacturing capabilities; adoption of advance technology such as IOT & predictive analytics; introduction of indigenous products & solutions across diverse sectors including defense etc.
There are certain challenges faced by this industry which may hinder its overall growth potential. These include presence or proliferation illegal firearms within country`s borders due to lack or inadequate control/ regulation measures hampering safety standards associated with use these armaments along with high costs associated with procurement & maintenance being some key challenges restraining market from realizing its full potential during forecast period 2023-2029. Additionally, stringent regulations related export/import imposed both at governmental level domestically or international levels can also act hindrance for industry players operating within this space.
Some key players operating within India Small Caliber Ammunition Market includes Bharat Forge Limited., BEML Ltd., Hindustan Aeronautics Limited (HAL), Larsen Troubro Ltd., Ordnance Factory Board (OFB), Reliance Defence Engineering Limited etc..