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Mortar Ammunition Market Size 2026: Valuation, Growth Rate And Forecast To 2030
The mortar ammunition market has demonstrated robust growth over the past few years. Its market size is anticipated to expand from $2.65 billion in 2025 to $2.79 billion in 2026, indicating a compound annual growth rate (CAGR) of 5.3%. This historical upward trend can be ascribed to factors such as the increasing deployment of mortar systems for infantry support in various combat zones, a rising demand for specialized rounds including thermobaric and bunker-busting munitions, improvements in explosive formulations that enhance lethality and accuracy, the expansion of military acquisition programs to standardize mortar calibers and ammunition, and an increase in urban warfare operations requiring high-angle indirect fire capabilities.
The mortar ammunition market is projected to experience consistent growth over the coming years, expanding to $3.38 billion in 2030 at a compound annual growth rate (CAGR) of 4.9%. This anticipated growth is driven by several factors, including the increasing adoption of extended-range and precision-guided smart mortars for enhanced targeting, a rising demand for airburst rounds to improve effectiveness against dispersed threats, increasing investment in modular and multi-purpose mortar ammunition systems, the expansion of non-lethal mortar options for peacekeeping and crowd-control missions, and accelerating innovation in lightweight materials to improve mobility and logistics efficiency. Key trends for the forecast period involve the growing integration of precision-guided mortar ammunition, an escalating demand for extended-range and bunker-busting mortar rounds, a heightened focus on mortar effectiveness in urban warfare and counter-insurgency operations, the proliferation of specialized training and simulation mortar rounds, and efforts toward standardization and interoperability of mortar calibers and ammunition across allied forces.
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What Is Driving The Growth Of The Mortar Ammunition Market?
Rising geopolitical strains are anticipated to fuel expansion in the mortar ammunition market in the future. These tensions denote strained political relationships among nations or regions, frequently culminating in conflict or enhanced military readiness. The escalation of geopolitical tensions is a consequence of intensifying global power rivalries, which contribute to a surge in border conflicts and military displays between countries. Mortar ammunition aids military preparedness during periods of geopolitical tension by providing rapid and flexible firepower in disputed territories. Its capacity for indirect fire enhances the effectiveness of ground troops via quick reactions and the ability to maintain territorial command. As an illustration, the Armed Conflict Location & Event Data Project (ACLED), a US-based non-profit research entity focused on conflict data analysis, reported that in December 2024, more than 165,273 political violence events occurred worldwide between July 2023 and June 2024, indicating a 15% increase from the prior year. Consequently, the heightened geopolitical tensions are serving as a catalyst for the expansion of the mortar ammunition market.
How Is The Mortar Ammunition Market Segmented?
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
What Are The Latest Trends In The Mortar Ammunition Market?
Leading firms in the mortar ammunition market are prioritizing the formation of strategic alliances to satisfy the increasing need for sophisticated, precision-guided mortar systems. These strategic collaborations entail agreements between businesses to merge resources, specialized knowledge, or technological capabilities for mutual benefits. Such cooperative efforts contribute to fostering innovation, enhancing supply chain efficiency, and broadening market reach. An example of this is seen in February 2023, when Ukroboronprom, a defense company based in Ukraine, partnered with an undisclosed NATO member nation for the co-production of 120 mm mortar ammunition. This manufacturing takes place across several facilities, including locations within a European NATO country, intended to fulfill a contract with Ukraine’s Ministry of Defence and provide supplies to the Armed Forces of Ukraine, who are significant users of this ammunition in current military conflicts.
Who Are The Key Players 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.
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Which Region Is The Largest In The Mortar Ammunition Market?
North America was the largest region in the mortar ammunition market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
