Comprehensive 2025 Mortar Ammunition Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the Mortar Ammunition Market Through 2025?
There has been robust growth in the size of the mortar ammunition market in the past few years. Its value is expected to increase from $2.52 billion in 2024 to $2.65 billion in 2025 with a compound annual growth rate (CAGR) of 5.3%. The significant growth during the historical period is due to factors such as the escalation of military modernization, intensifying cross-border disputes, the surge in asymmetric warfare, a growing demand for indirect fire support, and an increase in defense budgets worldwide.

What's the Projected Size of the Global Mortar Ammunition Market by 2029?
There is a prediction of a robust expansion in the size of the mortar ammunition market in the coming years. By 2029, the market is estimated to increase in size to $3.22 billion with a compound annual growth rate (CAGR) of 5.0%. This sizable growth in the forecast period is largely due to the growing demand for precision-guided munitions, increased defense budgets in emerging countries, an escalating requirement for lightweight and mobile firepower, enlargement of border security concerns, and a surge in the adoption of network-centric warfare. The main trends anticipated during the forecast period involve improvements in smart mortar systems, advanced targeting and guiding technologies, the creation of extended-range ammunition, progress in propellant and explosive materials, and evolution in modular and multi-caliber systems.

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Top Growth Drivers in the Mortar Ammunition Industry: What's Accelerating the Market?
The growth of the mortar ammunition market is predicted to be fuelled by escalating geopolitical tensions. Such tensions, indicating politically strained relationships between countries or regions, can give rise to conflicts or heightened military readiness. As global power rivalries grow more intense, there is an increase in border disputes and posturing by military forces among nations. The role of mortar ammunition during these geopolitical tensions is crucial, providing prompt and flexible firepower in disputed zones. The indirect firing ability it provides enhances the efficiency of ground troops via quick response and control of territories. To provide an example, the Armed Conflict Location & Event Data Project (ACLED), a US-based non-profit organization that specializes in conflict data analysis, reported over 165,273 political violence events worldwide from July 2023 to June 2024, indicating a 15% rise compared to the previous year. Consequently, escalating geopolitical tensions contribute to driving the growth of the mortar ammunition market.

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What Trends Will Shape the Mortar Ammunition Market Through 2029 and Beyond?
Key players in the mortar ammunition market are emphasizing on creating strategic collaborations to cater to the rising need for sophisticated, precision-controlled mortar systems. These strategic collaborations are formed by combining resources, expertise, or technology between companies for mutual benefits. These partnerships foster innovation, boost logistics, and broaden market visibility. For example, in February 2023, Ukroboronprom, a defense company based in Ukraine, entered a joint production of 120 mm mortar ammunition with an undisclosed NATO member state. The production takes place at several sites, including locations in a European NATO country, to meet a contract with the Ministry of Defense of Ukraine and provide for the Ukraine Armed Forces, who use this form of ammunition extensively in current military activities.

What Are the Main Segments in the Mortar Ammunition Market?
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

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

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Which Top Companies are Driving Growth in the 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.

Which Regions Will Dominate the Mortar Ammunition Market Through 2029?
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.

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