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Mortar Ammunition Market Overview

The Global Mortar Ammunition Market is projected to experience robust growth owing to rising geopolitical tensions and conflicts worldwide. Valued at approximately USD 86 million in 2024, the market is expected to reach USD 115 million by 2030, reflecting a compound annual growth rate (CAGR) of around 5% during the forecast period of 2025-2030. The demand for diverse types of mortar ammunition, including high-explosive rounds, illumination, smoke, and precision-guided rounds, is primarily fueled by military offensives and increased defense expenditures across nations. Particularly, the ongoing Russia-Ukraine war, along with escalating tensions in the Middle East, has significantly elevated the consumption of mortar ammunition, especially high-explosive rounds recognized for their affordability and versatility.

Mortar Ammunition Market Forecast

• The Global Mortar Ammunition Market is expected to grow from USD 86 million in 2024 to USD 115 million by 2030.
• Europe is anticipated to dominate the market in terms of production and consumption, accounting for around 40% of the market share.
• The high-explosive rounds segment is projected to maintain its dominance, comprising approximately 40% of the market.
• Increasing global defense spending is expected to propel the production and acquisition of mortar ammunition.
• The advancing technological landscape will likely drive innovations in precision-guided mortar ammunition, enhancing combat effectiveness.

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Key Driver

The surge in global geopolitical tensions, particularly highlighted by the protracted conflict between Russia and Ukraine, significantly drives the demand for mortar ammunition. As countries ramp up their military preparedness, defense expenditures continue to escalate, leading to a clear rise in the procurement of mortar systems and ammunition. Furthermore, persistent conflicts in regions like the Middle East are amplifying the necessity for various types of mortar rounds, particularly high-explosive variants that are cost-effective and highly adaptable in combat scenarios.

Mortar Ammunition Market Regional Projections

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Europe holds the biggest share (around 40%) of the Global Mortar Ammunition Market in 2024. This is largely due to the region’s heightened mortar production capability due to the ongoing Russia-Ukraine war. Currently, Europe produces nearly a million rounds of ammunition including mortar ammunition as well.

Industry Recent Development in the Mortar Ammunition Market

• In August 2024, General Dynamics Ordinance and Tactical Systems earned a prestigious contract for supplying the Israel Defense Forces with 50,000 units of the M933A1 120mm High Explosive mortar cartridges. This development underscores the growing demand for advanced mortar systems and the increasing collaboration between nations to enhance their military capabilities in an evolving combat landscape.

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Key Takeaways from the Mortar Ammunition Market Report

The Global Mortar Ammunition Market is poised for significant growth, primarily driven by heightened geopolitical tensions and rising defense expenditures. The ongoing demand for high-explosive rounds and precision-guided ammunition illustrates the evolving nature of combat operations, where efficiency and effectiveness are paramount. With increasing technological advancements, the market is expected to witness further innovations in mortar systems and ammunition types.

Key Players Operating in the Mortar Ammunition Market

• 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

Mortar Ammunition Market Segmentation Analysis

The Global Mortar Ammunition Market is segmented based on:

• Ammunition Type: High-Explosive Rounds, Illumination Rounds, Smoke Rounds, Precision Guided Rounds, Training Rounds, Anti-Personal Anti-Material (MAPAM) Rounds.
• End User: Defense Forces, Private Security/Military Firms.
• Ammunition Calibre: 60mm, 81mm, 82mm, 120mm.
• Range: Short Range, Medium Range, Long Range.
• Technological Advancement: Standard Ammunition, Advanced Ammunition.

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Questions for Further Inquiry

1. What are the anticipated challenges faced by the mortar ammunition market in the coming years?
2. How are innovations in drone technology impacting the mortar ammunition sector?
3. What strategies are key players implementing to enhance their market presence?
4. Which geographic region is expected to witness the highest growth in mortar ammunition production?
5. How does the evolving nature of warfare affect the demand for high-explosive rounds in the market?

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