Mortar Ammunition Global Market Report 2025

Mortar Ammunition Market Overview

• Mortar Ammunition market size has reached to $2.52 billion in 2024

• Expected to grow to $3.22 billion in 2029 at a compound annual growth rate (CAGR) of 5%

• Growth Driver: The Rising Incidences Of Geopolitical Tensions Is Fueling The Growth Of The Market Due To Increasing Military Preparedness And Border Security Demands

• Market Trend: Strategic Collaborations Boost Mortar Ammunition Production And Innovation

• North America was the largest region in 2024 and Asia-Pacific is the fastest growing region.

What Is Covered Under Mortar Ammunition Market?

Mortar ammunition consists of explosive rounds launched from mortar systems, compact, mobile artillery weapons designed for high-arching fire. This ammunition is primarily used to suppress enemy troops, destroy fortified positions, and provide crucial fire support during infantry operations in various terrains, including urban settings. Their lightweight design and indirect fire capability make them highly effective for targeting enemies hidden from direct view.

The main types of mortar ammunition are high-explosive (HE) mortars, illumination mortars, smoke mortars, training mortars, and guided mortars. High-explosive (HE) mortars deliver powerful fragmentation blasts for suppressing enemy forces and remain the most widely used indirect-fire support in infantry combat. The component types include mortar shells, fuzes, propellant charges, and cartridges with various calibers, such as 60 millimeter (mm) mortar ammunition, 81 millimeter (mm) mortar ammunition, 120 millimeter (mm) mortar ammunition, and others. It is applicable in several applications, including infantry support, artillery support, counter-insurgency, and urban warfare, and is used by various end-users, such as the military, defense contractors, government agencies, and research and development organizations.

What Is The Mortar Ammunition Market Size 2025 And Growth Rate?

The mortar ammunition market size has grown strongly in recent years. It will grow from $2.52 billion in 2024 to $2.65 billion in 2025 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to increasing military modernization, rising cross-border conflicts, the rise in asymmetric warfare, increasing demand for indirect fire support, and rising defense budgets across nations.

What’s The Trade War Impact On Aerospace And Defense Industry?

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

How is the Mortar Ammunition Market 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

Subsegments:

1) By High-Explosive (HE) Mortars: Fragmentation Rounds, Blast Rounds, Dual-Purpose Improved Conventional Munitions (DPICM), Extended Range High-Explosive (HE) Mortars

2) By Illumination Mortars: Visible Light Illumination, Infrared (IR) Illumination, Parachute-Based Illumination, Star Shell Illumination

3) By Smoke Mortars: White Phosphorus Smoke, Colored Smoke, Infrared Obscurant Smoke, Non-Toxic Smoke

4) By Training Mortars: Inert Rounds, Marker Rounds, Reduced Range Practice Ammunition (RRPA), Simulated High-Explosive (HE) Rounds

5) By Guided Mortars: Global Positioning System (GPS)-Guided Mortars, Laser-Guided Mortars, Inertial Navigation System (INS)-Guided Mortars, Dual-Mode Guided Mortars

What Is Driving The Mortar Ammunition Market? The Rising Incidences Of Geopolitical Tensions Is Fueling The Growth Of The Market Due To Increasing Military Preparedness And Border Security Demands

The increasing geopolitical tensions are expected to propel the growth of the mortar ammunition market going forward. Geopolitical tensions refer to strained political relations between countries or regions, often leading to conflict or increased military preparedness. Geopolitical tensions are rising as global power rivalries are intensifying, leading to more border disputes and military posturing among nations. Mortar ammunition supports military readiness during geopolitical tensions by offering swift and adaptable firepower in contested areas. Its indirect fire capability boosts ground troops’ effectiveness through rapid response and territorial control. For instance, in December 2024, according to the Armed Conflict Location & Event Data Project (ACLED), a US-based non-profit research organization specializing in conflict data analysis, over 165,273 political violence events were recorded globally between July 2023 and June 2024, marking a 15% increase compared to the previous year. Therefore, the increasing geopolitical tensions are driving the growth of the mortar ammunition market.

What Is Driving The Mortar Ammunition Market? The Rising Incidences Of Geopolitical Tensions Is Fueling The Growth Of The Market Due To Increasing Military Preparedness And Border Security Demands

The increasing geopolitical tensions are expected to propel the growth of the mortar ammunition market going forward. Geopolitical tensions refer to strained political relations between countries or regions, often leading to conflict or increased military preparedness. Geopolitical tensions are rising as global power rivalries are intensifying, leading to more border disputes and military posturing among nations. Mortar ammunition supports military readiness during geopolitical tensions by offering swift and adaptable firepower in contested areas. Its indirect fire capability boosts ground troops’ effectiveness through rapid response and territorial control. For instance, in December 2024, according to the Armed Conflict Location & Event Data Project (ACLED), a US-based non-profit research organization specializing in conflict data analysis, over 165,273 political violence events were recorded globally between July 2023 and June 2024, marking a 15% increase compared to the previous year. Therefore, the increasing geopolitical tensions are driving the growth of the mortar ammunition industry.

Who Are The Major Players In The Global Mortar Ammunition Market?

Major Companies operating 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.

Who Are The Major Players In The Global Mortar Ammunition Market?

Major Companies operating 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.

What Are The Key Trends Of The Global Mortar Ammunition Market? Strategic Collaborations Boost Mortar Ammunition Production And Innovation

Major companies operating in the mortar ammunition market are focusing on developing strategic partnerships to meet the growing demand for advanced, precision-guided mortar systems. Strategic partnerships involve alliances between companies to combine resources, expertise, or technology for shared advantages. These collaborations help drive innovation, strengthen logistics, and expand market presence. For instance, in February 2023, Ukroboronprom, a Ukraine-based defense enterprise, collaborated with an unspecified NATO member country to jointly produce 120 mm mortar ammunition. The manufacturing is carried out at multiple facilities, including sites in a European NATO country, to fulfill a contract with Ukraine's Ministry of Defence and supply the Armed Forces of Ukraine, which heavily use this type of ammunition in ongoing military operations.

What Are The Key Trends Of The Global Mortar Ammunition Market? Strategic Collaborations Boost Mortar Ammunition Production And Innovation

Major companies operating in the mortar ammunition market are focusing on developing strategic partnerships to meet the growing demand for advanced, precision-guided mortar systems. Strategic partnerships involve alliances between companies to combine resources, expertise, or technology for shared advantages. These collaborations help drive innovation, strengthen logistics, and expand market presence. For instance, in February 2023, Ukroboronprom, a Ukraine-based defense enterprise, collaborated with an unspecified NATO member country to jointly produce 120 mm mortar ammunition. The manufacturing is carried out at multiple facilities, including sites in a European NATO country, to fulfill a contract with Ukraine's Ministry of Defence and supply the Armed Forces of Ukraine, which heavily use this type of ammunition in ongoing military operations.

What Are Latest Mergers And Acquisitions In The Mortar Ammunition Market? Rheinmetall AG Acquired Expal Systems To Strengthen Programmable Ammunition And Defense Capabilities

In August 2023, Rheinmetall AG, a Germany-based defense and automotive technology company, acquired Expal Systems S.A.U. for $1.37 billion (€1.2 billion). Through this acquisition, Rheinmetall aims to boost its ammunition production capacity and enhance its expertise in precision and programmable munitions. The integration of Expal’s advanced manufacturing and artillery capabilities strengthens Rheinmetall’s technological edge. It also expands the company’s presence across Europe and NATO-aligned markets. Expal Systems is a Spain-based manufacturer of mortar systems for platforms and ammunition.

What Are Latest Mergers And Acquisitions In The Mortar Ammunition Market? Rheinmetall AG Acquired Expal Systems To Strengthen Programmable Ammunition And Defense Capabilities

In August 2023, Rheinmetall AG, a Germany-based defense and automotive technology company, acquired Expal Systems S.A.U. for $1.37 billion (€1.2 billion). Through this acquisition, Rheinmetall aims to boost its ammunition production capacity and enhance its expertise in precision and programmable munitions. The integration of Expal’s advanced manufacturing and artillery capabilities strengthens Rheinmetall’s technological edge. It also expands the company’s presence across Europe and NATO-aligned markets. Expal Systems is a Spain-based manufacturer of mortar systems for platforms and ammunition.

What Is The Regional Outlook For The Global Mortar Ammunition Market?

North America was the largest region in the mortar ammunition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mortar ammunition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the mortar ammunition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Is The Regional Outlook For The Global Mortar Ammunition Market?

North America was the largest region in the mortar ammunition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Mortar Ammunition Market?

The mortar ammunition market consists of sales of thermobaric mortars, bunker-busting rounds, extended-range smart mortars, non-lethal mortar rounds, and airburst mortars. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

What Defines the Mortar Ammunition Market?

The mortar ammunition market consists of sales of thermobaric mortars, bunker-busting rounds, extended-range smart mortars, non-lethal mortar rounds, and airburst mortars. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What is the Market Assessment and Strategic Outlook for the Mortar Ammunition Industry?

The mortar ammunition market research report is one of a series of new reports from The Business Research Company that provides mortar ammunition market statistics, including the mortar ammunition industry global market size, regional shares, competitors with the mortar ammunition market share, detailed mortar ammunition market segments, market trends, opportunities, and any further data you may need to thrive in the mortar ammunition industry. This mortar ammunition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

What is the Market Assessment and Strategic Outlook for the Mortar Ammunition Industry?

The mortar ammunition market research report is one of a series of new reports from The Business Research Company that provides market statistics, including the mortar ammunition industry global market size, regional shares, competitors with the market share, detailed market segments, market trends, opportunities, and any further data you may need to thrive in the mortar ammunition industry. This mortar ammunition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.