The Mortar Ammunitions Market is projected to grow at a CAGR of around 5% during the forecast period, i.e., 2025-30. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market’s trajectory in the coming years.
The market is recording a robust growth pace, spurred on by surging geopolitical tensions across the globe. The Russian-Ukraine war, combined with those in the Middle East, has created increased demand for mortar ammunition, particularly high-explosive rounds, which are cheap and adaptable for offensive and defensive operations alike. Europe dominates the market in 2024 since the region has been expanding its production levels because of the war in Eastern Europe. Nations such as Ukraine have increased their mortar shell production to almost one million rounds annually owing to the war. Further, the continuous escalation of conflicts in the Middle East is also increasing the demand for mortar ammunition.
Moreover, the rising expenditure on defense at the global level is also increasing the need for mortar ammunition everywhere. This would lead to adding arms and ammunition stock in nations all around the globe. For example, worldwide defense expenditure has increased by almost 7% to approximately USD 2.5 trillion on a YoY basis in 2023 which is the sharpest increase in the global defense expenditure since 2009, as per SIPRI. This growth was observed in all the regions of the world. Additionally, the growing demand is making the top market players increase their production capacities. In the future, the market will expand more with growing defense budgets and production capacity, particularly in Europe. This will be able to provide a robust demand for mortar ammunition during the forecast period.
Exploring the Market Dynamics: What’s Driving the Growth of Mortar Ammunition Market?
Rising Geopolitical Tension – In the last few years, there has been a rise in geopolitical conflicts across the globe. The most significant of them is the ongoing conflict between Russia and Ukraine. The conflict between the two nations has been going on for more than two years now in 2024. This resulted in massive consumption of arms and ammunition including mortar ammunition given that it is a land-based incursion. Moreover, this conflict in Eastern Europe has sparked vigilance in European countries which resulted in the growth of their defense expenditure. For example, Europe has witnessed a rise in defense expenditure of around 16% on a YoY basis from 2022 to more than USD 550 billion in 2023. This increase in defense expenditure was used to provide arms and ammunition to Ukraine while also building its capabilities.
Apart from this, the conflict of Israel and Hamas which has now involved Syria and Lebanon, have increased demand for mortar ammunition in the Middle Eastern Region. For instance, the Jerusalem Post reported that Israeli Defense Forces are using their 120 mm mortar “iron string” against Hamas. The IDF used iron sting to destroy the rocket deposits and the launch pads of Hamas. Furthermore, the Nagorno-Karabakh conflict between Armenia and Azerbaijan increased weapon purchases by both countries. These developments across the world will boost the mortar usage thereby fueling the demand for mortar ammunition across the world.
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Key Takeaways from the Market Study:
- Historical Data: 2020-23
- Base Year: 2024
- Forecast Period: 2025-30
- CAGR (2025-2030): 5%
- Key Players to Watch: Elbit Systems, BAE Systems PLC, Rheinmetall AG, SAAB AB, Northrop Grumman, NAMMO AB, Hirtenberger Defence Systems, Singapore Technologies Engineering Ltd., Arsenal JSCo., Poongsan, Day & Zimmermann, ROSTEC, CSG, Thales, General Dynamics Ordinance and Tactical Systems, KNDS, and Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Mortar Ammunition Industry:
- August 2024: General Dynamics Ordinance and Tactical Systems is the principal contractor for the Government of Israel, for the purchase of fifty thousand (50,000) M933A1 120mm High Explosive (HE) mortar cartridges with M783 fuzes.
- March 2024: KNDS revealed details about its latest New MEPAC 120mm Mortar Systems for French and Belgian Armies.
Market Segmentation of Mortar Ammunition Industry
The Mortar Ammunition market is segmented as follows:
- By Ammunition Type
- High-Explosive Rounds- Market Size & Forecast 2020-2030, USD Million
- Illumination Rounds- Market Size & Forecast 2020-2030, USD Million
- Smoke Rounds- Market Size & Forecast 2020-2030, USD Million
- Precision Guided Rounds- Market Size & Forecast 2020-2030, USD Million
- Training Rounds- Market Size & Forecast 2020-2030, USD Million
- Anti-Personal Anti Material (MAPAM) Rounds- Market Size & Forecast 2020-2030, USD Million
- By End User
- Defense Forces- Market Size & Forecast 2020-2030, USD Million
- Private Security/Military Firms- Market Size & Forecast 2020-2030, USD Million
- By Ammunition Calibre
- 60mm- Market Size & Forecast 2020-2030, USD Million
- 81mm- Market Size & Forecast 2020-2030, USD Million
- 82- Market Size & Forecast 2020-2030, USD Million
- 120mm- Market Size & Forecast 2020-2030, USD Million
- By Range
- Short Range- Market Size & Forecast 2020-2030, USD Million
- Medium Range- Market Size & Forecast 2020-2030, USD Million
- Long Range- Market Size & Forecast 2020-2030, USD Million
- By Technological Advancement
- Standard Ammunition- Market Size & Forecast 2020-2030, USD Million
- Advanced Ammunition- Market Size & Forecast 2020-2030, USD Million
According to report, the rechargeable segment holds a larger share of the Global Mortar Ammunition Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Mortar Ammunition Market Geographical Analysis
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Mortar Ammunition Market
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