Mortar Ammunition Market Size, Share, Industry Trends and Forecast to 2033
This report provides an extensive analysis of the Mortar Ammunition market, covering market dynamics, trends, sizing, technological advancements, and regional performance from 2023 to 2033. Detailed market forecasts and strategic insights are also included for stakeholders.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $5.80 Billion |
| CAGR (2023-2033) | 4.7% |
| 2033 Market Size | $9.27 Billion |
| Top Companies | BAE Systems, General Dynamics, Raytheon Technologies |
| Last Modified Date | 15 Nov 2024 |
Mortar Ammunition Market Report (2023 - 2033)
Mortar Ammunition Market Overview
What is the Market Size & CAGR of Mortar Ammunition market in 2023?
Mortar Ammunition Industry Analysis
Mortar Ammunition Market Segmentation and Scope
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Mortar Ammunition Market Analysis Report by Region
Europe Mortar Ammunition Market Report:
The European market for Mortar Ammunition is expected to grow from $1.79 billion in 2023 to $2.86 billion by 2033. Factors such as enhanced collective defense strategies and increased interoperability among NATO allies contribute to this growth.Asia Pacific Mortar Ammunition Market Report:
The Asia-Pacific region shows significant growth in the Mortar Ammunition market, with an anticipated value increase from $1.17 billion in 2023 to $1.86 billion in 2033. The growth can be attributed to rising defense expenditures in countries like India, China, and Japan, alongside ongoing modernization efforts in military forces.North America Mortar Ammunition Market Report:
North America remains a dominant player in the Mortar Ammunition market, projected to expand from $1.88 billion in 2023 to $3.00 billion in 2033. This growth is primarily fueled by substantial military budgets and advanced research in defense technologies, particularly in the United States.South America Mortar Ammunition Market Report:
In South America, the market is expected to grow modestly from $0.19 billion in 2023 to $0.31 billion by 2033. This growth is driven by regional security agendas and the modernization of armed forces amid rising internal security challenges.Middle East & Africa Mortar Ammunition Market Report:
The Middle East and Africa region is witnessing a growth trajectory from $0.77 billion in 2023 to $1.23 billion in 2033. Ongoing conflicts, geopolitical tensions, and the need for security reinforcements fuel investment in advanced mortar systems across several countries.Request a custom research report for industry.
Mortar Ammunition Market Analysis By Type
Global Mortar Ammunition Market, By Type Market Analysis (2023 - 2033)
The Mortar Ammunition market, segmented by type, reveals High-Explosive Ammunition leading with a size of $3.65 billion in 2023, expected to reach $5.84 billion by 2033. Precision Guided Mortar Ammunition follows with a significant share, projected to grow from $1.27 billion to $2.02 billion over the same period.
Mortar Ammunition Market Analysis By Platform
Global Mortar Ammunition Market, By Platform Market Analysis (2023 - 2033)
Market segmentation by platform highlights the importance of Infantry Mortars, which currently leads the market with a share of 62.98%. Vehicle-Mounted Mortars and Naval Mortars account for 21.84% and 15.18%, necessitating target-specific approaches in military procurement strategies.
Mortar Ammunition Market Analysis By Application
Global Mortar Ammunition Market, By Application Market Analysis (2023 - 2033)
The application of Mortar Ammunition primarily focuses on military use, which represents 62.98% of the market share. Law enforcement and peacekeeping operations constitute 21.84% and 15.18%, respectively, reflecting the evolving nature of conflicts and operational demands.
Mortar Ammunition Market Analysis By End User
Global Mortar Ammunition Market, By End-User Market Analysis (2023 - 2033)
End-user segmentation states that government agencies hold the largest share of around 62.98%, followed by military contractors and international organizations at 21.84% and 15.18%. This distribution emphasizes the reliance on formal military establishments for critical ammunition supplies.
Mortar Ammunition Market Analysis By Material
Global Mortar Ammunition Market, By Material Market Analysis (2023 - 2033)
In terms of materials, metallic materials dominate with an 80.85% market share, while composite materials account for a smaller fraction at 19.15%. This highlights the trend towards utilizing innovative composites for certain modern ammunition, enhancing capabilities without compromising safety.
Mortar Ammunition Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Mortar Ammunition Industry
BAE Systems:
A leading global defense, security, and aerospace company, BAE Systems specializes in advanced technology in mortar systems and munitions.General Dynamics:
General Dynamics provides a broad range of advanced defense products and services, including advanced mortar ammunition and systems, focusing on safety and precision.Raytheon Technologies:
A key player in defense technology, Raytheon Technologies develops innovative solutions for precision munitions, including mortar systems.We're grateful to work with incredible clients.
