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Mortar Ammunition Market Expected To Reach $3.38 Billion By 2030 At 4.91% CAGR
The mortar ammunition market has demonstrated significant growth over recent years. Its value is expected to increase from $2.65 billion in 2025 to $2.79 billion in 2026, advancing at a compound annual growth rate (CAGR) of 5.3%. This historical expansion can be linked to several factors: the increasing deployment of mortar systems to provide infantry fire support in varied combat scenarios, a heightened need for specialized rounds such as thermobaric and bunker-busting munitions, improvements in explosive compositions that enhance lethality and accuracy, the expansion of military procurement initiatives to standardize mortar calibers and ammunition, and the rise in urban warfare operations necessitating high-angle indirect fire capabilities.
The mortar ammunition market is projected to experience consistent expansion in the coming years. It is anticipated to reach $3.38 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.9%. This expansion during the projection period is driven by several factors, including the increasing integration of extended-range and precision-guided smart mortars for improved targeting, a heightened need for airburst rounds to boost efficacy against spread-out threats, increased funding in modular and versatile mortar ammunition systems, the broadening of non-lethal mortar choices for use in peacekeeping and crowd management operations, and swift advancements in lightweight materials aimed at enhancing mobility and logistical efficiency. Key developments foreseen in this period involve the wider embrace of precision-guided mortar ammunition, a surging requirement for extended-range and bunker-penetrating mortar rounds, a heightened focus on the utility of mortars in urban combat and counter-insurgency scenarios, the proliferation of specialized training and simulation rounds for mortars, and the move towards standardization and interoperability of mortar calibers and ammunition among allied military forces.
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Mortar Ammunition Market Growth Drivers: What Factors Are Accelerating Expansion?
Rising geopolitical tensions are anticipated to drive the expansion of the mortar ammunition market in the future. These tensions denote strained political relationships among countries or regions, frequently resulting in conflict or heightened military readiness. Such tensions are escalating due to intensifying global power rivalries, which contribute to a rise in border disagreements and military displays by nations. Mortar ammunition assists military preparedness amidst geopolitical tensions by providing rapid and flexible firepower in disputed zones. Its capacity for indirect fire enhances the effectiveness of ground forces via quick responses and control over territory. An illustration of this trend is seen in December 2024, when data from the Armed Conflict Location & Event Data Project (ACLED), a US-based non-profit research organization focused on conflict data analysis, reported over 165,273 political violence events worldwide between July 2023 and June 2024. This figure represents a 15% increase from the preceding year. Consequently, the escalating geopolitical tensions are fueling the expansion of the mortar ammunition market.
Mortar Ammunition Market Segment Analysis Highlighting Growth Areas
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
Mortar Ammunition Market Trends Reshaping Industry Growth
Major companies operating in the mortar ammunition market are increasingly focused on forming strategic alliances to meet the rising demand for advanced, precision-guided mortar systems. These strategic partnerships involve various companies joining forces to integrate resources, specialized knowledge, or technology for collective benefits. Such collaborations are instrumental in stimulating innovation, improving logistical operations, and extending market reach. For example, in February 2023, Ukroboronprom, a defense enterprise located in Ukraine, entered into a collaboration with an unnamed NATO member country for the joint production of 120 mm mortar ammunition. This manufacturing process occurs at multiple facilities, including locations within a European NATO country, aiming to fulfill a contract with Ukraine’s Ministry of Defence and supply the Armed Forces of Ukraine, who are extensively utilizing this ammunition in ongoing military operations.
Mortar Ammunition Market Leading Players Shaping Industry Direction
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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Mortar Ammunition Market Geographic Landscape: Which Region Dominates Industry Growth?
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.