The global market for mortar ammunition is projected to have a considerable CAGR of around 4.8% during the forecast period. The new advanced mortar systems include traditional arms and ammunition with a range of weapons that vary from vehicle-mounted 120mm to 60mm portable mortars and associated equipment namely, training devices, mortar ballistic computers, ammunition, and fire control system. Mortar ammunition is used to provide effective Fire Support (FS) to infantry or mechanized infantry at the platoon and company level. These ammunitions can be in the form of bombs, rockets, shots, shrapnel, bullets, and shells. Conflicts between countries around the world increased terrorist activity, and political instability in underdeveloped countries have all contributed to a rise in mortar ammunition demand. Ammunition is used extensively in applications such as defense and public safety to maintain peace, law, and order. Ammunition is also employed for sporting and wildlife purposes, including the use of weapons. Further, the advancement in defense technology has enabled military personnel to launch mortars with ease and less complexity. The increasing tension at the Line of Control (LOC) and the international border between various nations have led to the increasing use of such destructive weapons for the protection.
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Segmental Outlook
The global mortar ammunition market is segmented based on caliber type, component, and application. Based on the caliber type, the market is further classified into the light caliber, medium caliber, and heavy caliber. On the basis of components, the market is further segmented into fuzes and primers, propellants, projectiles and warheads. Further, based on the application the market is classified into military, and homeland security
Asia-Pacific to Hold a Considerable Share in The Global Mortar Ammunition Market
Geographically, Asia-Pacific is projected to hold a significant share global mortar ammunition market. Due to the region’s ongoing geopolitical concerns, nations such As China, India, and South Korea have been dramatically boosting their military spending in recent years. These countries have been investing in developing and procuring newer generation mortar systems and accompanying ammunition as their defense spending has increased. For instance, in March 2021, the Indian Army decommissioned two of the longest-serving artillery systems, namely, the 130mm self-propelled M-46 catapult guns and 160mm Tampella Mortars from service, to make way for newer equipment employing the latest technologies. In addition, the Middle East region is estimated to be a potential region for the mortar ammunition market in the aerospace and defense sector.
by Caliber Type (Light Caliber, Medium Caliber, and Heavy Caliber),
By Component (Fuzes and Primers, Propellants, and Projectiles and Warheads)
By Application (Military, and Homeland Security)
Market Players Outlook
The key players in the mortar ammunition market contribute significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Elbit Systems Ltd, Saab AB, Nammo AS, and General Dynamics Corp among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In November 2020, Rheinmetall Denel Munition, a joint venture between Rheinmetall Group and Denel SOC, was awarded a multi-million contract by the South African Army to procure both conventional and long-range variants of the 60mm mortar ammunition, including illumination, smoke-burst screening mortar cartridges, high explosives, and practice.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global mortar ammunition market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where in the market.
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