The Mortar Ammunition Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Mortar Ammunition Market?
The market size for mortar ammunition has experienced substantial growth lately. The market, which was valued at $2.52 billion in 2024, is projected to rise to $2.65 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.3%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Mortar Ammunition Industry?
The Mortar Ammunition Global Market is projected to grow to $3.22 billion by 2029, with a compound annual growth rate (CAGR) of 5.0%.
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What are the Key Growth Drivers Fueling the Mortar Ammunition Market?
The key drivers in the mortar ammunition market are:
• Rising demand for precision-guided munitions
• Increasing defense budgets in developing countries
• Growing requirement for lightweight and portable firepower
• Increasing concerns on border security and the adoption of network-centric warfare
Global Market Segmentation: Identifying Major Mortar Ammunition Industry Segments
The mortar ammunition market covered in this report is segmented –
1) By Type: High-Explosive (HE) Mortars, Illumination Mortars, Smoke Mortars, Training Mortars, Guided Mortars
2) By Component Type: Mortar Shells, Fuzes, Propellant Charges, Cartridges
3) By Caliber: 60 Millimeter (mm) Mortar Ammunition, 81 Millimeter (mm) Mortar Ammunition, 120 Millimeter (mm) Mortar Ammunition, Other Caliber Ammunition
4) By Application: Infantry Support, Artillery Support, Counter-Insurgency, Urban Warfare
5) By End-User: Military, Defense Contractors, Government Agencies, Research And Development Organizations
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What are the Emerging Trends Shaping the Future of the Mortar Ammunition Market?
The key trends in the mortar ammunition market are:
• Advancements in smart mortar systems is a prominent trend in the market.
• The development of advanced targeting and guidance technologies is shaping the future of the mortar ammunition market.
• The production of extended-range ammunition is being recognized as an emerging trend.
• Innovations in propellant and explosive materials and advanced modular and multi-caliber systems are pivotal trends in the sector.
Who Are the Top Competitors & Leading Players in the Mortar Ammunition Market?
Major players in the mortar ammunition market are:
• China North Industries Group Corporation
• General Dynamics Corporation
• Northrop Grumman Corporation
• BAE Systems plc
• Thales Group
• Leonardo S.p.A.
• Singapore Technologies Engineering Ltd.
• Rheinmetall AG
• Elbit Systems Ltd
• Hanwha Aerospace
• Diehl Defence
• Saab AB
• Day & Zimmermann
• Poongsan Corporation
• Nammo AS
• Yugoimport SDPR
• KNDS Group
• ARSENAL JSCo
• Hirtenberger Defence Systems GmbH & Co KG
• STV Group
Regional Dominance: Which Area Leads the Global Mortar Ammunition Market?
North America was the largest region in the mortar ammunition market in 2024
