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How the Mortar Ammunition Market Has Progressed: A Look Back Over the Past Few Years?
There has been a robust growth in the mortar ammunition market size in the past few years. It is predicted to expand from $2.52 billion in 2024 to $2.65 billion in 2025, registering a compound annual growth rate (CAGR) of 5.3%.
Various factors have contributed to the growth during the historic period, including escalated defense budgets globally, greater demand for indirect fire support, rise in asymmetric warfare, increasing instances of cross-border conflicts, and the ongoing trend of military modernization.
The anticipated increase in the size of the mortar ammunition market in the forthcoming years is promising, with predictions suggesting a growth to $3.22 billion in 2029, registering an annual compound growth rate (CAGR) of 5.0%. This growth during the predicted period can be ascribed to the escalating demand for precision-guided munitions, enlarging defense budgets in rising economies, a mounting requirement for lightweight and transportable firepower, increased concerns for border safety, and the growing adoption of network-centric warfare.
Key trends influencing this sector during the forecast period are improvements in smart mortar systems, development in advanced targeting and guidance technologies, the invention of extended-range ammunition, breakthroughs in propellant and explosive materials, and progression in modular and multi-caliber systems.
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What’s Driving the Upward Growth Trajectory of the Mortar Ammunition Market?
The escalating geopolitical contentions are poised to potentially fuel the expansion of the mortar ammunition market in the foreseeable future. Such contentions pertain to fraught political relations between nations or regions, frequently culminating in confrontations or heightened military readiness.
As rivalries between global powers escalate, so do geopolitical strains, leading to more territorial disputes and militaristic positioning among nations. Mortar ammunition enhances military preparedness during such geopolitical strains, by providing agile and adaptable firepower in disputed regions.
Its capability to provide indirect fire enhances the effectiveness of ground forces via quick reactions and territorial management. For example, in December 2024, the Armed Conflict Location & Event Data Project (ACLED) – an American non-profit research organization specializing in conflict data analytics – reported that over 165,273 incidents of political violence were logged globally between July 2023 and June 2024.
This indicated a 15% surge from the previous year. Consequently, the escalating geopolitical contentions are fueling the growth of the mortar ammunition market.
Which Segments in the Mortar Ammunition Industry Are Seeing the Fastest Growth?
The mortar ammunition market covered in this report is segmented –
1) By Type: High-Explosive (HE) Mortars, Illumination Mortars, Smoke Mortars, Training Mortars, Guided Mortars
2) By Component Type: Mortar Shells, Fuzes, Propellant Charges, Cartridges
3) By Caliber: 60 Millimeter (mm) Mortar Ammunition, 81 Millimeter (mm) Mortar Ammunition, 120 Millimeter (mm) Mortar Ammunition, Other Caliber Ammunition
4) By Application: Infantry Support, Artillery Support, Counter-Insurgency, Urban Warfare
5) By End-User: Military, Defense Contractors, Government Agencies, Research And Development Organizations
Subsegments:
1) By High-Explosive (HE) Mortars: Fragmentation Rounds, Blast Rounds, Dual-Purpose Improved Conventional Munitions (DPICM), Extended Range High-Explosive (HE) Mortars
2) By Illumination Mortars: Visible Light Illumination, Infrared (IR) Illumination, Parachute-Based Illumination, Star Shell Illumination
3) By Smoke Mortars: White Phosphorus Smoke, Colored Smoke, Infrared Obscurant Smoke, Non-Toxic Smoke
4) By Training Mortars: Inert Rounds, Marker Rounds, Reduced Range Practice Ammunition (RRPA), Simulated High-Explosive (HE) Rounds
5) By Guided Mortars: Global Positioning System (GPS)-Guided Mortars, Laser-Guided Mortars, Inertial Navigation System (INS)-Guided Mortars, Dual-Mode Guided Mortars
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How Will Shifting Market Trends Influence Mortar Ammunition System Adoption?
In the mortar ammunition market, major businesses are innovating ways to meet the increasing demand for advanced precision-guided mortar systems, with strategic partnerships being a top priority. These partnerships typically unite companies in a joint effort to combine resources, know-how, or technological advancements that will mutually beneficial.
Through such alliances, companies are able to promote innovation, bolster logistical processes, and increase their market footprint. Demonstrating this, in February 2023, Ukroboronprom, a defense company located in Ukraine, entered into a partnership with an unidentified NATO member country for the shared production of 120 mm mortar ammunition.
The production processes take place at numerous facilities, notably including locations in a European NATO country. This collaboration aims at fulfilling a contract with the Ministry of Defence of Ukraine as well as supplying the Ukrainian Armed Forces, who consistently require this form of ammunition for current military operations.
Which Global Regions Are Powering Demand in the Mortar Ammunition Market?
North America was the largest region in the mortar ammunition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the mortar ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How Key Players Are Driving Growth in the Mortar Ammunition Market?
Major Companies operating in the mortar ammunition market are China North Industries Group Corporation, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems plc, Thales Group, Leonardo S.p.A., Singapore Technologies Engineering Ltd., Rheinmetall AG, Elbit Systems Ltd, Hanwha Aerospace, Diehl Defence, Saab AB, Day & Zimmermann, Poongsan Corporation, Nammo AS, Yugoimport SDPR, KNDS Group, ARSENAL JSCo, Hirtenberger Defence Systems GmbH & Co KG, STV Group.
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