Mortar Ammunition Market

The demand for mortar ammunition is rising globally as a result of ongoing conflicts and rising military expenditures. The market is expanding as a result of the use of cutting-edge technologies like precision-guided munitions. Mortar ammo is an essential tool in contemporary warfare since it may be employed for close support and indirect fire missions.

The expanding frequency of urban battles, the growing use of unmanned aerial vehicles and drones, and the increased emphasis on asymmetric warfare are some of the major factors driving the industry.

The creation of novel materials, including composite propellants, and the incorporation of sensors and other technologies to increase precision and range present opportunities for investigation.

The market for mortar ammunition has seen recent developments, such as the rise of new competitors, the use of smart munitions, and the increasing need for portable and lightweight mortars.

As conflicts continue to emerge and military budgets expand, the demand for mortar ammunition is expected to remain strong, presenting significant opportunities for market participants.

The Global Mortar Ammunition Market Industry is experiencing growth driven by rising defense budgets across various nations. Countries are increasingly prioritizing military modernization and capability enhancement, leading to increased procurement of advanced mortar systems. For instance, in 2024, global defense spending is projected to reach approximately 4.47 USD Billion, reflecting a commitment to bolster military readiness. This trend is particularly evident in regions such as Asia-Pacific and North America, where geopolitical tensions have prompted governments to invest heavily in artillery and ammunition capabilities. As a result, the demand for mortar ammunition is expected to rise, contributing to the overall expansion of the market.

The Global Mortar Ammunition Market Industry is projected to experience steady growth over the coming years. Current estimates suggest that the market will reach approximately 4.47 USD Billion in 2024, with expectations of expanding to 6.67 USD Billion by 2035. The compound annual growth rate (CAGR) for the period from 2025 to 2035 is anticipated to be around 3.7%. This growth trajectory is influenced by various factors, including increasing defense budgets, technological advancements, and evolving military strategies. As nations continue to prioritize military readiness, the demand for mortar ammunition is likely to remain robust, reflecting the ongoing importance of artillery capabilities in modern warfare.

The Global Mortar Ammunition Market Industry is significantly influenced by ongoing geopolitical tensions and conflicts worldwide. Regions experiencing instability, such as the Middle East and Eastern Europe, have seen an uptick in military engagements, necessitating the procurement of mortar ammunition. The demand for effective artillery support in combat scenarios has led to increased orders from military forces. As nations respond to emerging threats, the focus on enhancing ground forces' capabilities becomes paramount. This heightened demand for mortar systems is expected to contribute to the market's growth, with projections indicating a rise to 6.67 USD Billion by 2035.

Technological innovations play a pivotal role in shaping the Global Mortar Ammunition Market Industry. The development of precision-guided munitions and enhanced range capabilities has transformed traditional mortar systems into more effective and versatile weapons. For example, advancements in GPS-guided mortar rounds have significantly improved accuracy, reducing collateral damage and increasing operational effectiveness. These innovations are likely to attract military forces seeking to upgrade their arsenals, thereby driving demand for modern mortar ammunition. As nations continue to invest in research and development, the market is expected to witness a steady growth trajectory, with a projected CAGR of 3.7% from 2025 to 2035.

The Global Mortar Ammunition Market Industry is benefiting from an increased emphasis on training and simulation programs for military personnel. Realistic training scenarios utilizing mortar systems are essential for preparing troops for contemporary combat environments. Governments are investing in advanced simulation technologies that replicate battlefield conditions, allowing soldiers to hone their skills without depleting actual ammunition stocks. This focus on training not only enhances operational readiness but also drives demand for mortar ammunition as military forces seek to ensure their personnel are proficient in using these systems. As training programs evolve, the market is likely to see sustained growth in mortar ammunition procurement.

The Global Mortar Ammunition Market Industry is witnessing a shift towards asymmetric warfare strategies, prompting military forces to adapt their arsenals accordingly. Mortar systems are increasingly favored for their mobility, versatility, and effectiveness in urban combat scenarios. As non-state actors and insurgent groups continue to pose threats, conventional forces are investing in mortar ammunition to counter these challenges. The ability to deploy mortars quickly and effectively in diverse environments enhances operational flexibility. This trend is likely to sustain demand for mortar ammunition, as military planners recognize the importance of maintaining a robust artillery capability in modern warfare.

The regional segmentation of the Mortar Ammunition Market presents diverse market dynamics and growth opportunities. North America held a significant market share of 1.38 billion USD in 2023 and is expected to reach 2.043 billion USD by 2032, driven by the presence of major defense contractors and advanced military capabilities.

Europe followed closely, with key players such as France and the United Kingdom investing in mortar ammunition to modernize their armed forces, holding a market share of 0.872 billion USD in 2023 and projected to grow to 1.236 billion USD by 2032. APAC witnessed substantial growth due to rising defense expenditure in countries like India and China, with figures of 1.174 billion USD in 2023 and 1.454 billion USD by 2032.

South America and MEA also contributed to the market, with Brazil and Saudi Arabia being notable players, as South America holds a market share of 0.428 billion USD in 2023 and is expected to reach 0.59 billion USD by 2032, while the Middle East and Africa hold 0.516 billion USD in 2023 and are projected to grow to 0.678 billion USD by 2032.

The Mortar Ammunition Market is highly competitive, with numerous local and international companies vying for market share. Key industry participants are focusing on developing innovative products and expanding their regional presence to cater to the evolving needs of defense forces worldwide.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Main industry players in the Mortar Ammunition Market tend to develop new technologies with a constantly growing efficiency in order to remain competitive. The leading Mortar Ammunition Market players are facing tough industry competition, so companies invest heavily in research and development to provide their customers with advanced products.

Today, we face the transformation of the Mortar Ammunition Market as it is set to witness a significant increase in demand on the part of the defense forces of various countries. The competitive field of the Mortar Ammunition Market is occupied by both large companies and small players, which have lower levels of market power.

The key companies in the market segment include BAE Systems, General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon. These companies are constantly introducing new products into the market and investing in research and development to meet the growing demand from the defense forces. The industry companies compete to increase their market share; the issues they face are typical for the highly competitive industry.

BAE Systems is a leading defense contractor providing different products and services to the defense forces in different countries. The Mortar Ammunition Market products of the company comprise a range of mortars, shells, and fuses. BAE Systems is among the key suppliers of mortar ammunition to the US military and the defense forces of other countries.

Moreover, the companies continue investing in research and development to improve the performance characteristics of their products. BAE Systems uses an inorganic growth strategy to expand its market presence.

General Dynamics is another key defense supplier of the Mortar Ammunition Market products, which include a range of mortars, shells, and fuses. This company is one of the largest suppliers of mortar ammunition to the US military and other defense forces.

Correspondingly, the key issues faced by the company comprise competition and pressure from other players. However, the company invests in research and development as well as purchasing process and support training.