MarkNtel Advisors Predicts Mortar Ammunition Market to Surge to USD 115 million by 2030 at 5% CAGR

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Mortar Ammunition Market, 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. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight sustainable materials, rising demand for luxury customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Mortar Ammunition Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook Forecasts:

Forecast Period: 2025-2030
Market Size in 2024: USD 86 million
CAGR (2025-2030): 5%

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Global Mortar Ammunition Market Segmentation Breakdown:

The Mortar Ammunition Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Ammunition Type
- High-Explosive Rounds- Market Size Forecast 2020-2030, USD Million
- Illumination Rounds- Market Size Forecast 2020-2030, USD Million
- Smoke Rounds- Market Size Forecast 2020-2030, USD Million
- Precision Guided Rounds- Market Size Forecast 2020-2030, USD Million
- Training Rounds- Market Size Forecast 2020-2030, USD Million
- Anti-Personal Anti Material (MAPAM) Rounds- Market Size Forecast 2020-2030, USD Million

The high-explosive (HE) rounds segment dominates the Global Mortar Ammunition Market with around 40% share. This is due to its versatility in offensive and defensive operations and it helps in dealing the highest possible damage to your adversaries.

By End User
- Defense Forces- Market Size Forecast 2020-2030, USD Million
- Private Security/Military Firms- Market Size Forecast 2020-2030, USD Million

Defense Forces make up the largest share (more than 90%) in the Global Mortar Ammunition Market in 2024. This is mainly because in contrast to defense forces, private security/military firms operate on a limited budget and do not involve a large scope of operations.

By Ammunition Calibre
- 60mm- Market Size Forecast 2020-2030, USD Million
- 81mm- Market Size Forecast 2020-2030, USD Million
- 82- Market Size Forecast 2020-2030, USD Million
- 120mm- Market Size Forecast 2020-2030, USD Million
By Range
- Short Range- Market Size Forecast 2020-2030, USD Million
- Medium Range- Market Size Forecast 2020-2030, USD Million
- Long Range- Market Size Forecast 2020-2030, USD Million
By Technological Advancement
- Standard Ammunition- Market Size Forecast 2020-2030, USD Million
- Advanced Ammunition- Market Size Forecast 2020-2030, USD Million

Geographical Growth Insights:

By Region
- 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.

MarkNtel Advisors Highlights Key Market Drivers for Mortar Ammunition Market:

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.

Apart from this, the conflict of Israel and Hamas which has now involved Syria and Lebanon, have increased demand for mortar ammunition in the Middle Eastern Region. For instance, the Jerusalem Post reported that Israeli Defense Forces are using their 120 mm mortar “iron string” against Hamas. The IDF used iron sting to destroy the rocket deposits and the launch pads of Hamas. Furthermore, the Nagorno-Karabakh conflict between Armenia and Azerbaijan increased weapon purchases by both countries. These developments across the world will boost the mortar usage thereby fueling the demand for mortar ammunition across the world.

A Comprehensive Analysis of Leading Companies in Global Mortar Ammunition Market

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]
Others

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Mortar Ammunition Market Recent Development:

August 2024: General Dynamics Ordinance and Tactical Systems is the principal contractor for the Government of Israel, for the purchase of fifty thousand (50,000) M933A1 120mm High Explosive (HE) mortar cartridges with M783 fuzes.
March 2024: KNDSrevealed details about its latest New MEPAC 120mm Mortar Systems for French and Belgian Armies.

What are the growth Opportunity driving the Global Mortar Ammunition Market?

Rising Conflict in the Middle East – The Middle East was relatively calmer with the USA pulling out from Afghanistan and the sanctions on Iran. However, the growing diplomatic relationship between Israel and Arab Nations resulted in the initiation of projects like the India-Middle-Europe East Economic Corridor (IMEC). The IMEC will provide the logistical connectivity from India to Europe with the Middle East as a transit point which would decrease the influence of the Persian Gulf and the developing North-South Corridor passing through Iran. This will negatively impact Iran’s influence in the region. These developments were already making the situation in the Middle East volatile. The attack of Israel in 2023, escalated the conflict in the region.

As per the Stockholm International Peace Research Institute, the Middle East has witnessed a rise in its defense expenditure by around 9% on a YoY basis, growing to about USD 200 billion in 2023. Israel which launched a military offense on Gaza, saw its defense spending increase by more than 20% to reach around USD 27 billion in 2023. As of December 2024, the conflict in the Middle East now involves Syria. The expanding conflicts in the Middle East are raising the region’s defense spending thereby increasing the demand for mortar ammunition.

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About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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