The global mortar ammunition market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period. The increased investments and procurement of advanced precision-guided mortar ammunition are anticipated to boost the market’s growth during the forecast period. For instance, Elbit Systems has been awarded a USD 30 million contract to supply STYLET, a precision Guided Mortar Munition (GMM), to an unidentified Asia-Pacific customer. The munitions delivery is planned to be completed in 2022. STYLET is a multimode GPS/INS-guided 120mm GMM developed for tactical combat units and Special Forces with a range of 1,000-8,500 m.
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in November 2020, BAE Systems signed a deal with the UK Ministry of Defense to supply munitions worth USD 3.2 billion over 15 years for the British military. As part of the Next Generation Munitions Solution (NGMS) program, BAE Systems will produce 39 different munitions for the armed services from five different sites across the United Kingdom. Small-arms ammunition, mortars, tank shells, medium-caliber gun rounds, and heavy artillery rounds are included in the delivery schedule, starting at the end of 2022.
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Market Coverage
- The market number available for – 2023-2030
- Base year- 2022
- Forecast period- 2024-2030
Segment Covered-
- By Application
- By Caliber Type
- By Component
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Elbit Systems Ltd, Saab AB, Nammo AS, and General Dynamics Corp., and others.
Mortar Ammunition Market Report Segment
By Caliber Type
- Light Caliber
- Medium Caliber
- Heavy Caliber
By Component
- Fuzes and Primers
- Propellants
- Projectiles and Warheads
By Application
- Military
- Homeland security
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Mortar Ammunition Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- ADI Ltd
- ARSENAL JSCo.
- BAE Systems PLC
- Denel Land Systems
- Elbit Systems Ltd
- General Dynamics Corp
- Hanwha Corporation
- Hirtenberger Defence Systems GmbH & Co. KG
- Israel Military Industries Ltd
- Mechanical and Chemical Industry Co
- Nammo AS
- Nexter Systems SA
- Olin Corp
- Rheinmetall AG
- RUAG Holding
- Saab AB
- Singapore Technologies Engineering Ltd
- Thales Group
- The Canadian Broadcasting Corp
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