Mortar Ammunition Market Scope & Volume Analysis with Executive Summary 2030

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Mortar Ammunition Market Size & Insights

According to MarkNtel Advisors study The future of 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.

What are the Key Driver in the 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.

What are the Key Segments in the Mortar Ammunition Market?

The Mortar Ammunition is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

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

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How does geographical analysis highlight in the Mortar Ammunition market?

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.

Who are the Key Players in 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]

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Mortar Ammunition Market News

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: KNDS revealed details about its latest New MEPAC 120mm Mortar Systems for French and Belgian Armies.

Key pillars of the research methodology include:

Scope & Research Design – Clearly defined objectives with tailored qualitative and quantitative methods, backed by precise timelines and budgets.
Sample Selection & Data Collection – Representative samples achieved through proven techniques like random and stratified sampling, supported by reliable tools such as surveys, interviews, and observations.
Data Analysis & Validation – Rigorous cleaning, advanced statistical modeling, and thematic analysis ensure accuracy, reliability, and minimal bias.
Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

“Our methodology reflects the trust businesses place in us. By combining innovation with precision, we deliver not just numbers, but clarity and direction for decision-makers worldwide,” said a spokesperson for MarkNtel Advisors.

Why This MarkNtel Advisors Research Report:

In-depth Market Analysis: Understand trends and dynamics shaping growth.
Segmented Insights: Target specific segments for focused strategies.
Geographical Performance: Assess market opportunities by geographic area.
Emerging Technologies: Discover advancements like AI integration.
Risk Identification: Pinpoint challenges to inform strategic planning.
Future Forecasts: Prepare for market changes with actionable projections.

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