Global Ammunition Market Size Is Expected To Reach USD 29.68 Billion By 2030
Ammunition Industry Overview The global ammunition marke t size is expected to reach USD 29.68 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.2% from 2022 to 2030. Increasing investments in defense equipment by militaries on account of the rise in geopolitical tension across the globe are anticipated to drive the demand for ammunition in the estimated time. Increasing procurement of artillery and mortar platforms by the Indian Army over the next ten years through several development platforms is expected to raise the number of ammunition over the forecast period. Additionally, the rise in hostilities is expected to ascend the demand for ammunition in the Middle Eastern countries in the projected time frame. Technological innovations for the replacement of brass-based bullet cases using polymer-based bullet cases are expected to offer growth prospects to the market. The application of polymer mat...