Future Mortar Ammunition Market: Key Dynamics, Size & Share Analysis
The Global Mortar Ammunition Market size was valued at around USD 86 million in 2024 and is projected to reach USD 115 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 5% during the forecast period, i.e., 2025-30.
Top Market Dirver Impacting the Mortar Ammunition Market Growth
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.
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Understanding the Core Segments in the Mortar Ammunition Market
Mortar Ammunition Market Size, Share & Industry Trends Analysis- By Ammunition Type (High-Explosive Rounds, Illumination Rounds, Smoke Rounds, Precision Guided Rounds, Training Rounds, Anti-Personal Anti Material (MAPAM) Rounds), By End User (Defense Forces, Private Security/Military Firms), By Ammunition Calibre (60mm, 81mm, 82, 120mm), By Range (Short Range, Medium Range, Long Range), By Technological Advancement (Standard Ammunition, Advanced Ammunition), and Others.
Geographical Analysis of the Mortar Ammunition Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
Who Dominates the Mortar Ammunition Market Insights on Key Industry Players?
Companies are strengthening their presence in the Mortar Ammunition market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.
- Elbit Systems[S1]
- BAE Systems PLC[S2]
- Rheinmetall AG[S3]
- SAAB AB[S4]
- Northrop Grumman[S5]
- NAMMO AB[S6]
- Hirtenberger Defence Systems[S7]
- Singapore Technologies Engineering Ltd.[S8]
- Arsenal JSCo.[S9]
- Poongsan[S10]
- Day & Zimmermann[S11]
- ROSTEC[S12]
- CSG[S13]
- Thales[S14]
- General Dynamics Ordinance and Tactical Systems Corporation[S15]
- KNDS[S16]
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