Global Mortar System Market Overview
Mortar System Market Size was estimated at 0.97 (USD Billion) in 2022. The Mortar System Market Industry is expected to grow from 1.01(USD Billion) in 2023 to 1.36 (USD Billion) by 2032. The Mortar System Market CAGR (growth rate) is expected to be around 3.41% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Mortar System Market Trends Highlighted
Key drivers propelling the mortar system market growth include increasing geopolitical tensions, rising demand for enhanced firepower and precision, and military modernization programs worldwide. Advancements in technology are also driving the market, such as the development of self-propelled, high-precision, and long-range mortar systems. In recent times, the market has witnessed a trend toward adopting modular, flexible, and lightweight systems that can be rapidly deployed and tailored to specific mission requirements.
Opportunities for market expansion lie in emerging economies that are investing in defense capabilities, as well as the increasing need for counter-insurgency and urban warfare operations. Furthermore, the demand for precision-guided and indirect fire support systems is anticipated to drive market growth as armies seek to enhance their capabilities for complex and demanding missions. Additionally, the focus on reducing collateral damage and improving accuracy is expected to fuel the adoption of advanced mortar systems, leading to substantial growth potential in the coming years.
Mortar System Market Drivers
Increasing Demand for Advanced Mortar Systems
The growing need for advanced mortar systems is primarily driven by the increasing demand for precision-guided and long-range mortar systems. These systems offer enhanced accuracy, extended range, and increased firepower, which are crucial for modern warfare. Precision-guided mortar systems utilize advanced guidance technologies to ensure accurate target engagement, minimizing collateral damage and increasing operational effectiveness. Long-range mortar systems, on the other hand, provide extended reach, allowing for the engagement of targets at greater distances enhancing the overall tactical flexibility and operational capabilities of military forces.The adoption of these advanced mortar systems is expected to continue as military forces around the world seek to modernize their arsenals and gain a competitive edge in the evolving battlefield landscape.
Rising Geopolitical Tensions and Regional Conflicts
Heightened geopolitical tensions and the prevalence of regional conflicts have significantly contributed to the growth of the Mortar System Market Industry. Escalating tensions between nations, territorial disputes, and ongoing armed conflicts have led to increased military spending and investments in advanced weaponry, including mortar systems. These systems play a critical role in providing indirect fire support, suppressing enemy positions, and engaging targets in close-range combat.As geopolitical dynamics continue to shift and conflicts arise, the demand for mortar systems is expected to remain strong, driving the growth of the market.
Technological Advancements and Innovation
Ongoing technological advancements and innovation have revolutionized the Mortar System Market Industry. The integration of cutting-edge technologies, such as advanced guidance systems, enhanced targeting capabilities, and improved materials, has led to the development of more sophisticated and efficient mortar systems. These advancements have significantly improved the accuracy, range, and overall performance of mortar systems, making them more effective in modern warfare.Continued investment in research and development is expected to drive innovation and technological advancements further, shaping the future of the mortar systems market.
Mortar System Market Segment Insights
Mortar System Market Type Insights
The Mortar System Market is segmented by type into Conventional Mortar Systems and Guided Mortar Systems. The Conventional Mortar Systems segment held the largest market share in 2023, and it is expected to continue to dominate the market throughout the forecast period. Conventional Mortar Systems are less expensive and easier to operate than Guided Mortar Systems. They are also more widely available, which makes them the preferred choice for many militaries around the world. However, Guided Mortar Systems are becoming increasingly popular due to their superior accuracy and range.The growth of the market is attributed to the increasing demand for mortars from developing countries, as well as the rising adoption of Guided Mortar Systems. Mortars are a versatile and cost-effective weapon system that can be used in a variety of roles, including infantry support, fire support, and counter-insurgency operations. As a result, mortars are expected to remain in high demand in the years to come. The key players in the Mortar System Market include BAE Systems, Elbit Systems, General Dynamics, Lockheed Martin, and Rheinmetall.These companies are investing heavily in research and development to develop new and innovative mortar systems. This is expected to further drive the growth of the market in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mortar System Market Caliber Insights
The caliber segment plays a pivotal role in shaping the Mortar System Market landscape. Among the various calibers, 60mm, 81mm, 120mm, and 155mm hold significant market shares. The 120mm caliber dominates the market, capturing a substantial revenue share in 2023 and is projected to maintain its dominance throughout the forecast period. The growing demand for 120mm mortars in both direct and indirect fire support applications drives this segment's growth. Additionally, the integration of advanced technologies, such as laser-guided rounds and computerized fire control systems, further enhances the capabilities and accuracy of 120mm mortars, contributing to their widespread adoption.
Mortar System Market Mobility Insights
The Mobility segment of the Mortar System Market is categorized into Vehicle-Mounted, Towable, and Portable systems. Vehicle-mounted systems are integrated into military vehicles, providing mobility and rapid deployment. Towable systems are designed to be towed behind vehicles, offering flexibility and ease of transport. Portable systems are lightweight and designed to be carried by infantry, enabling quick and agile operations. In 2023, the Vehicle-Mounted segment held the largest market share due to its enhanced mobility and firepower. The Towable segment is projected to witness significant growth due to its versatility and cost-effectiveness.The Portable segment is expected to gain traction owing to its portability and suitability for specialized missions. The Mortar System Market is driven by factors such as increasing geopolitical tensions, modernization of military forces, and advancements in technology. The market is expected to reach USD 1.36 billion by 2032, exhibiting a CAGR of 3.41% from 2024 to 2032.
Mortar System Market Range Insights
The Mortar System Market is segmented by Range into Short-Range (Less than 5 km), Medium-Range (5-10 km), and Long-Range (Greater than 10 km). Among these, the Short-Range segment held the largest market share in 2023, accounting for approximately 45% of the revenue. The increasing demand for portable and lightweight mortar systems for rapid deployment in urban and close-range combat scenarios is driving the growth of this segment. The Medium-Range segment is expected to witness a significant CAGR during the forecast period, owing to the growing need for systems with extended-range capabilities for precision strikes against distant targets.Long-range mortar systems are expected to have a moderate growth rate, as they are typically employed in specialized operations requiring long-range bombardment.
Mortar System Market Guidance System Insights
The Guidance System segment of the Mortar System Market is anticipated to witness significant growth in the coming years. Inertial Navigation System (INS), Laser-Guided, and GPS-Guided are the key technologies driving this segment. INS provides accurate positioning and navigation capabilities, making it a vital component in mortar systems. Laser-guided mortars offer high precision and accuracy, increasing their effectiveness in various combat situations. GPS-Guided mortars utilize satellite signals for targeting, enabling precise strikes from extended ranges.
Mortar System Market Regional Insights
The regional segmentation of the Mortar System Market offers valuable insights into the market's geographical distribution and growth patterns. North America, with a market revenue of USD 438.1 million in 2023, is projected to maintain its dominance throughout the forecast period, reaching an estimated USD 564.2 million by 2032. This dominance can be attributed to the presence of major defense contractors and significant military spending in the region. Europe, with its focus on modernization and replacement of aging systems, is expected to witness steady growth, reaching a projected market value of USD 289.3 million by 2032.APAC, driven by rising defense budgets and territorial disputes, is poised to exhibit the highest growth rate, with an estimated market revenue of USD 372.4 million by 2032. South America, with its focus on internal security and border protection, is anticipated to reach a market size of USD 113.6 million by 2032. MEA, benefiting from increased defense investments and regional conflicts, is projected to reach a market value of USD 135.7 million by 2032. These regional insights provide a comprehensive understanding of the Mortar System Market's dynamics and growth potential.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mortar System Market Key Players And Competitive Insights
Major players in the Mortar System Market industry are continuously innovating and developing new products to meet the changing needs of customers. Leading Mortar System Market players are focusing on providing customized solutions to cater to the specific requirements of end-users. The Mortar System Market is expected to witness significant growth in the coming years, owing to the increasing demand for advanced and efficient mortar systems from various military and defense organizations worldwide. The competitive landscape of the Mortar System Market is characterized by the presence of several key players, such as BAE Systems, Elbit Systems, and Thales Group, among others. These companies are constantly engaged in research and development activities to enhance their product portfolio and gain a competitive edge in the market.Nexter, a leading company in the Mortar System Market industry, offers a comprehensive range of mortar systems, including the MO-120-RT and the MO-81-61, which are widely used by military forces around the globe. The company has a strong focus on innovation and continuously invests in research and development to enhance the capabilities of its products. Nexter also provides training and support services to its customers, ensuring that they can effectively utilize and maintain their mortar systems. The company has established strategic partnerships with various government agencies and defense organizations, which has contributed to its strong position in the Mortar System Market.Rheinmetall, a competitor company in the Mortar System Market, is another prominent player in the industry. The company's mortar systems, such as the RSG6 and the Mrser 120mm, are known for their accuracy, reliability, and ease of operation. Rheinmetall has a presence and serves customers in various regions, including Europe, the Middle East, and Asia-Pacific. The company invests heavily in research and development to improve the performance and capabilities of its mortar systems. Rheinmetall also offers a range of ammunition and accessories, providing a complete solution for mortar operations. The company's strong track record and commitment to innovation have made it a formidable competitor in the Mortar System Market.
Key Companies in the Mortar System Market Include
- Patria Land
- General Dynamics
- Norinco Group
- Lockheed Martin
- Rheinmetall
- Oshkosh Defense
- Leonardo DRS
- EDGE Group
- Raytheon Technologies
- Krauss-Maffei Wegmann
- BAE Systems
- Elbit Systems
- Israel Aerospace Industries
- Thales
- Nexter
Mortar System Market Industry Developments
The Mortar System Market is projected to witness steady growth, driven by increasing defense spending and rising demand for advanced weapon systems. According to a report by MarketWatch, the market is expected to reach a valuation of 1.36 billion USD by 2032, exhibiting a CAGR of 3.41% during the forecast period 2024-2032. Recent developments in the market include the introduction of precision-guided mortar systems, advancements in ammunition technology, and the growing adoption of unmanned aerial vehicles (UAVs) for mortar spotting and target acquisition. Key players in the market are investing in research and development to enhance the capabilities and accuracy of their systems.
Mortar System Market Segmentation Insights
Mortar System Market Type Outlook
Mortar System Market Caliber Outlook
Mortar System Market Mobility Outlook
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Vehicle-Mounted
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Towable
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Portable
Mortar System Market Range Outlook
Mortar System Market Guidance System Outlook
Mortar System Market Regional Outlook
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North America
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Europe
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South America
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Asia-Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.97(USD Billion) |
| Market Size 2023 |
1.01(USD Billion) |
| Market Size 2032 |
1.36(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.41% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Patria Land, General Dynamics, Norinco Group, Lockheed Martin, Rheinmetall, Oskosh Defense, Leonardo DRS, EDGE Group, Raytheon Technologies, KraussMaffei Wegmann, BAE Systems, Elbit Systems, Israel Aerospace Industries, Thales, Nexter |
| Segments Covered |
Type, Caliber, Mobility, Range, Guidance System, Regional |
| Key Market Opportunities |
1 Increasing urban population2 Government spending on infrastructure3 Demand for advanced mortar systems4 Growing construction sector5 Technological advancements |
| Key Market Dynamics |
Increasing Demand for Rapid Emplacement Abilities Growing adoption of PrecisionGuided Munitions Modernization of military forces Need for enhanced operational capability. Technological advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Mortar System market size is expected to reach USD 1.36 billion by 2032, growing at a CAGR of 3.41% from 2024 to 2032.
The Asia-Pacific region is expected to hold the largest market share in the Mortar System market, followed by North America and Europe.
The key drivers of growth in the Mortar System market include increasing demand for advanced weapon systems, rising geopolitical tensions, and growing military expenditure by governments around the world.
Mortar Systems are primarily used for indirect fire support in combat operations, providing close-range, high-angle fire against enemy positions and fortifications.
The key competitors in the Mortar System market include BAE Systems, Elbit Systems, General Dynamics, Lockheed Martin, and Norinco.
The Mortar System market is expected to grow steadily over the next decade, driven by increasing demand for advanced weapon systems and rising military expenditure by governments around the world.
The Mortar System market faces challenges such as technological advancements, changing geopolitical dynamics, and budget constraints.
The latest trends in the Mortar System market include the development of lightweight and portable systems, the integration of advanced technologies such as precision guidance and fire control systems, and the growing demand for mortar systems with increased range and accuracy.
The key factors influencing the growth of the Mortar System market include the increasing demand for advanced weapon systems, rising geopolitical tensions, growing military expenditure by governments around the world, and the development of new technologies and innovations.
The Mortar System market is expected to generate revenue of USD 1.36 billion by 2032, growing at a CAGR of 3.41% from 2024 to 2032.
