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Add to CartMortar Ammunition Market
By Technology;
Light Caliber, Medium Caliber and Heavy CaliberBy Application;
Military and Homeland SecurityBy Component;
Fuzes & Primers, Propellants and Projectiles & WarheadsBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)Mortar Ammunition Market Overview
Mortar Ammunition Market (USD Million)
Mortar Ammunition Market was valued at USD 88.46 million in the year 2024. The size of this market is expected to increase to USD 126.14 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.2%.
Mortar Ammunition Market
*Market size in USD million
CAGR 5.2 %
| Study Period | 2025 - 2031 |
|---|---|
| Base Year | 2024 |
| CAGR (%) | 5.2 % |
| Market Size (2024) | USD 88.46 Million |
| Market Size (2031) | USD 126.14 Million |
| Market Concentration | Medium |
| Report Pages | 308 |
Major Players
- Elbit Systems Ltd
- General Dynamics Corporation
- Nexter Group KNDS
- RUAG Group
- BAE Systems PLC
- Rheinmetall AG
- Saab AB
- Thales Group
- Nammo AS
- Denel Land Systems
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Mortar Ammunition Market
Fragmented - Highly competitive market without dominant players
The Mortar Ammunition Market is witnessing strong momentum with rising adoption of precision-guided munitions and modernized defense systems. Nearly 45% of global armed forces are enhancing their artillery strength with advanced mortar ammunition. The focus on lightweight, portable, and high-impact weaponry is further accelerating the integration of mortar systems across multiple defense platforms.
Increasing Military Investments
Defense modernization initiatives drive nearly 40% of the market growth, as governments emphasize enhancing combat readiness and tactical efficiency. Rising defense budgets support procurement of advanced mortar rounds, ensuring armed forces are equipped with reliable and effective ammunition. These investments are fostering innovation in caliber designs and firing accuracy.
Technological Advancements
The integration of smart fuzes, extended range propellants, and automated fire control systems is transforming mortar ammunition performance. Approximately 50% of new mortar systems incorporate advanced targeting technologies, improving strike precision and minimizing collateral impact. This progress is reinforcing mortar ammunition’s role in modern battlefield operations.
Operational Effectiveness
Mortar ammunition is preferred for its versatility and rapid deployment capabilities. Around 55% of defense forces utilize mortars for both offensive and defensive missions, highlighting their adaptability. Their effectiveness in diverse terrains and combat scenarios positions mortar systems as a cornerstone of modern military operations.
Mortar Ammunition Market Key Takeaways
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Growth in national defence budgets and modernisation of land-force capabilities are key drivers behind the rising demand for mortar ammunition across various regions.
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Technological shifts—such as the adoption of precision-guided munitions and enhancements in lethality, range and mobility—are reshaping how mortar systems are utilised tactically.
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The North America region retains a leading share of the market, reflecting strong procurement streams and advanced development programmes by defence agencies.
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The Asia-Pacific region is emerging as a fast-growing marketplace, driven by geopolitical tensions, border-security investments and manufacturing localisation efforts.
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Manufacturers are increasingly pursuing strategic collaborations, mergers and partnerships to scale up domestic production, secure supply-chains and meet rising quantitative demands.
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Despite robust momentum, challenges such as export-control regulations, high R&D/manufacturing costs and supply-chain bottlenecks in explosives/raw-materials will restrain faster uptake.
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For suppliers, aligning product innovation with mobility-centric warfare (e.g., lightweight, rapid-deployment mortars) and tailoring offerings to expanding regional forces will be critical to gaining competitive advantage.
Mortar Ammunition Market Recent Developments
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In December 2023, IoT-enabled boiler control systems were implemented across large-scale manufacturing facilities in North America, significantly improving operational efficiency and streamlining industrial processes.
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In March 2022, Nexter Munitions unveiled a next-generation line of mortar ammunition engineered for extended range and enhanced explosive power. This innovation delivers superior battlefield performance and greater operational effectiveness for modern defense applications.
Mortar Ammunition Market Segment Analysis
The Mortar Ammunition Market is segmented by Technology, Application, Component, and Geography.
Mortar Ammunition Market, Segmentation by Technology
The technology segmentation includes Light Caliber, Medium Caliber, and Heavy Caliber. Each category serves distinct tactical applications based on range, portability, and payload capacity. Advancements in propulsion technology and guidance systems have improved accuracy and lethality across all calibers.
Light Caliber
Light Caliber mortars, typically ranging between 60mm and 81mm, are used for infantry support and rapid deployment missions. Their lightweight and easy-to-transport nature make them ideal for mobile warfare and mountainous terrain operations. The segment continues to see innovation in extended-range and low-collateral ammunition.
Medium Caliber
Medium Caliber mortars (81mm to 120mm) form the backbone of tactical indirect firepower for modern militaries. They offer an optimal balance of range, accuracy, and destructive capability. Integration with digital fire control systems and precision fuzes enhances their operational effectiveness in both conventional and asymmetric warfare.
Heavy Caliber
Heavy Caliber mortars (above 120mm) are deployed for long-range bombardment and fortified target destruction. These systems are crucial for artillery support, suppression fire, and high-impact missions. Ongoing R&D in smart munitions and GPS-guided heavy rounds is expected to boost segment growth.
Mortar Ammunition Market, Segmentation by Application
The application segmentation includes Military and Homeland Security. Both sectors are expanding their use of mortar ammunition to enhance rapid response, tactical precision, and counter-insurgency operations.
Military
Military applications account for the dominant share due to ongoing armed conflicts, border skirmishes, and counterterrorism missions. Militaries are increasingly procuring smart mortar rounds equipped with precision guidance for improved targeting and reduced ammunition expenditure.
Homeland Security
Homeland Security forces utilize mortars for border protection, area denial, and tactical deterrence. Rising global security threats and cross-border infiltration incidents have driven investments in portable, high-accuracy mortar systems.
Mortar Ammunition Market, Segmentation by Component
The component segmentation includes Fuzes & Primers, Propellants, and Projectiles & Warheads. Continuous improvements in component technology are enhancing overall range, accuracy, and lethality of mortar ammunition systems.
Fuzes & Primers
Fuzes & Primers play a crucial role in detonation control and safety. Innovations in electronic and programmable fuzes are allowing for more reliable and selective detonation modes, supporting precision strike capability.
Propellants
Propellants ensure the propulsion and range performance of mortar rounds. The focus on clean-burning, temperature-resistant propellant materials is helping militaries meet environmental and operational standards in diverse climates.
Projectiles & Warheads
Projectiles & Warheads represent the most significant revenue segment, driven by the demand for multi-purpose, fragmentation, illumination, and guided munitions. Modern warheads are designed for enhanced blast effect and reduced collateral impact in urban combat scenarios.
Mortar Ammunition Market, Segmentation by Geography
In this report, the Mortar Ammunition Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regions and Countries Analyzed in this Report
North America
North America dominates the market owing to extensive defense budgets and continuous modernization of artillery systems. The U.S. Army’s investment in precision-guided mortar systems strengthens regional growth.
Europe
Europe exhibits strong demand driven by NATO-led defense collaborations and regional security initiatives. Countries like Germany, France, and the UK are investing in smart mortar munitions to support advanced combat operations.
Asia Pacific
Asia Pacific is experiencing rapid expansion due to rising geopolitical tensions and defense modernization in India, China, and South Korea. Indigenous manufacturing programs and procurement of advanced mortars are fueling growth.
Middle East & Africa
Middle East & Africa markets are driven by ongoing military conflicts, border protection needs, and counter-insurgency operations. Nations like Saudi Arabia and Israel are key regional buyers of advanced ammunition systems.
Latin America
Latin America shows steady growth, supported by defense modernization initiatives in Brazil and Mexico. Increasing focus on homeland security and regional stability continues to support market development.
Mortar Ammunition Market Forces
This report provides an in depth analysis of various factors that impact the dynamics of Mortar Ammunition Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Comprehensive Market Impact Matrix
This matrix outlines how core market forces—Drivers, Restraints, and Opportunities—affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.
| Market Forces ↓ / Impact Areas → | Market Growth Rate | Competitive Landscape | Customer Behavior | Regulatory Influence | Innovation Potential |
|---|---|---|---|---|---|
| Drivers | High impact (e.g., tech adoption, rising demand) | Encourages new entrants and fosters expansion | Increases usage and enhances demand elasticity | Often aligns with progressive policy trends | Fuels R&D initiatives and product development |
| Restraints | Slows growth (e.g., high costs, supply chain issues) | Raises entry barriers and may drive market consolidation | Deters consumption due to friction or low awareness | Introduces compliance hurdles and regulatory risks | Limits innovation appetite and risk tolerance |
| Opportunities | Unlocks new segments or untapped geographies | Creates white space for innovation and M&A | Opens new use cases and shifts consumer preferences | Policy shifts may offer strategic advantages | Sparks disruptive innovation and strategic alliances |
Drivers, Restraints and Opportunity Analysis
Drivers:
- Military Modernization Initiatives
- Technological Advancements
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Urban Warfare and Asymmetric Threats-The mortar ammunition market is significantly influenced by the challenges posed by urban warfare and asymmetric threats, driving the development and procurement of specialized munitions tailored for these operational environments. Urban warfare presents unique challenges, including dense civilian populations, complex terrain, and the potential for collateral damage, necessitating precision and adaptable munitions for effective engagement of enemy forces while minimizing civilian casualties. Mortar ammunition designed for urban warfare typically emphasizes precision guidance, reduced collateral damage, and enhanced lethality to address these challenges.
Asymmetric threats, such as insurgencies and non-state actors, often exploit urban environments to their advantage, using civilian infrastructure as cover and employing hit-and-run tactics to evade conventional forces. In response, military forces require mortar ammunition capable of delivering accurate and responsive fire support in urban areas while mitigating the risk of unintended harm to civilians and infrastructure. Munitions with advanced guidance systems, such as GPS or laser guidance, enable precise targeting of enemy positions amidst densely populated areas, reducing the risk of collateral damage and civilian casualties.
The increasing prevalence of urban warfare and asymmetric threats drives innovation and investment in mortar ammunition technology. Military forces are seeking versatile and adaptable munitions capable of addressing a wide range of operational scenarios, from counterinsurgency operations in urban environments to conventional warfare in open terrain. This demand has led to the development of modular and multi-role mortar ammunition, allowing forces to quickly adapt to changing battlefield conditions and effectively counter diverse threats. As urbanization continues to grow and asymmetric threats persist, the mortar ammunition market is expected to see continued demand for specialized munitions tailored for urban warfare and asymmetric threats.
Restraints:
- Budget Constraints
- Regulatory Compliance
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Supply Chain Vulnerabilities-Supply chain vulnerabilities pose significant challenges to the mortar ammunition market, impacting production, distribution, and availability of critical munitions. The intricate supply chain involved in the manufacturing of mortar ammunition encompasses numerous components, materials, and processes, making it susceptible to disruptions from various factors such as geopolitical tensions, natural disasters, and industrial accidents. Any disruption along the supply chain, whether it be a shortage of raw materials, transportation delays, or production bottlenecks, can have cascading effects on the timely delivery of mortar ammunition to end-users, potentially compromising military readiness and operational capabilities.
Geopolitical tensions and trade disputes can disrupt the supply chain by restricting the flow of essential materials, components, and technologies required for the production of mortar ammunition. Dependence on foreign suppliers for critical components or raw materials leaves the supply chain vulnerable to geopolitical risks, including embargoes, export restrictions, and geopolitical instability. Additionally, disruptions caused by natural disasters, such as earthquakes, hurricanes, or pandemics, can impact manufacturing facilities, logistics infrastructure, and transportation networks, leading to delays in production and delivery of mortar ammunition.
Mitigating supply chain vulnerabilities in the mortar ammunition market requires strategic planning, diversification of suppliers, and investment in resilient manufacturing processes. Adopting a multi-sourcing approach for critical components and materials reduces dependence on single suppliers and minimizes the risk of supply disruptions. Moreover, investing in domestic production capabilities and fostering partnerships with trusted allies can enhance supply chain resilience and ensure a steady supply of mortar ammunition even in challenging geopolitical environments. Implementing robust risk management strategies, such as contingency planning, stockpiling, and supply chain mapping, enables stakeholders to identify vulnerabilities and proactively address potential disruptions, ensuring the availability of mortar ammunition to support military operations and national defense objectives.
Opportunities:
- Precision-guided Munitions
- Emerging Markets
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Modular and Multi-role Munitions-The adoption of modular and multi-role munitions represents a significant trend in the mortar ammunition market, offering enhanced versatility and operational flexibility to military forces worldwide. Modular munitions allow for the customization of warhead payloads, fuzing options, and propulsion systems, enabling users to tailor ammunition to specific mission requirements. This flexibility enhances the effectiveness of mortar systems across a wide range of operational scenarios, including precision strikes, area denial, and counterinsurgency operations.
Multi-role munitions further expand the capabilities of mortar systems by integrating multiple functionalities into a single projectile. These munitions can fulfill various mission roles, such as high-explosive, smoke, illumination, and anti-personnel, without the need for separate ammunition types. By consolidating multiple capabilities into one munition, military forces can streamline logistics, reduce inventory complexity, and enhance operational efficiency on the battlefield.
Modular and multi-role munitions offer cost-effective solutions for military forces operating with limited resources. The ability to reconfigure munitions according to changing mission requirements reduces the need for specialized ammunition stockpiles, minimizing logistical burdens and procurement costs. Additionally, the versatility of modular and multi-role munitions allows military forces to adapt quickly to evolving threats and operational environments, ensuring readiness and effectiveness in dynamic conflict scenarios. As military modernization efforts continue to prioritize agility and versatility, the demand for modular and multi-role mortar ammunition is expected to grow, driving innovation and market expansion in the mortar ammunition market.
Mortar Ammunition Market Competitive Landscape Analysis
Mortar Ammunition Market is witnessing significant growth driven by strategic partnerships and industry collaboration, with more than 40% of key players engaging in mergers to strengthen their market position. Technological advancements are fueling innovation in precision and lethality, while expansion into new applications is increasing overall market penetration and competitive intensity.
Market Structure and Concentration
The market demonstrates a moderately concentrated structure with top players accounting for over 55% of revenue share. Strategic mergers and alliances have enabled companies to consolidate production and distribution, fostering a competitive environment. The balance between large defense contractors and emerging specialized manufacturers drives healthy competition and growth.
Brand and Channel Strategies
Leading players are implementing multi-tiered strategies focusing on brand visibility, government contracts, and specialized distribution channels. Collaborative partnerships with defense agencies account for over 35% of sales, enhancing market reach. Companies are leveraging innovation in marketing and channel integration to maintain strong customer relationships and secure long-term growth.
Innovation Drivers and Technological Advancements
Technological advancements are a key driver, with over 45% of market participants investing in research for smart mortar systems and precision munitions. Innovations focus on enhancing accuracy, reliability, and operational efficiency. Strategic collaboration among manufacturers accelerates product development, fostering sustained market growth and expanding the competitive landscape.
Regional Momentum and Expansion
Regional expansion is prominent, with companies increasing their presence in high-demand areas accounting for 40% of overall market activity. Cross-border partnerships and distribution agreements facilitate faster market penetration. Continuous innovation in regional supply chains enhances competitiveness and strengthens the future outlook for sustained market growth.
Future Outlook
The market is projected to sustain strong growth with continuous technological advancements and strategic collaboration among players. Focused expansion strategies and evolving brand positioning are expected to capture more than 50% of new demand in emerging regions. Overall, the future outlook indicates robust competition and innovative development across the industry.
Key players in Mortar Ammunition Market include:
- Rheinmetall AG
- BAE Systems plc
- General Dynamics Corporation
- Elbit Systems Ltd.
- Saab AB
- Nammo AS
- Hirtenberger Defence Systems GmbH & Co. KG
- Nexter
- CBC (CBC Global Ammunition)
- Alliant Techsystems (ATK)
- Singapore Technologies Engineering Ltd.
- Arsenal JSCo.
- Hanwha Corporation
- Denel SOC Ltd.
- Poongsan Corporation
In this report, the profile of each market player provides following information:
- Market Share Analysis
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Technology
- Market Snapshot, By Application
- Market Snapshot, By Component
- Market Snapshot, By Region
- Mortar Ammunition Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Military Modernization Initiatives
- Technological Advancements
- Urban Warfare and Asymmetric Threats
- Restraints
- Budget Constraints
- Regulatory Compliance
- Supply Chain Vulnerabilities
- Opportunities
- Precision-guided Munitions
- Emerging Markets
- Modular and Multi-role Munitions
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Mortar Ammunition Market, By Technology, 2021 - 2031 (USD Million)
- Light Caliber
- Medium Caliber
- Heavy Caliber
- Mortar Ammunition Market, By Application, 2021 - 2031 (USD Million)
- Military
- Homeland Security
- Mortar Ammunition Market, By Component, 2021 - 2031 (USD Million)
- Fuzes & Primers
- Propellants
- Projectiles & Warheads
- Mortar Ammunition Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Mortar Ammunition Market, By Technology, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Rheinmetall AG
- BAE Systems plc
- General Dynamics Corporation
- Elbit Systems Ltd.
- Saab AB
- Nammo AS
- Hirtenberger Defence Systems GmbH & Co. KG
- Nexter
- CBC (CBC Global Ammunition)
- Alliant Techsystems (ATK)
- Singapore Technologies Engineering Ltd.
- Arsenal JSCo.
- Hanwha Corporation
- Denel SOC Ltd.
- Poongsan Corporation
- Company Profiles
- Analyst Views
- Future Outlook of the Market