Mortar systems and mortar ammunition market worth up to US$25.67 billion by 2032

Amsterdam, NL - March 05, 2024 -

Often called a “poor man’s artillery”, mortars will continue to play an important role in the modern battlefield thanks to their simplicity in the design, which is enhanced through the integration of C2 systems and rapid deployment capacity on all types of vehicles. Although the mortar ammunition market is going through a high growth phase due to the war in Ukraine and the urgency to replace inventories and supply Ukrainian troops, the mortar systems market will grow at a slower pace due to the long period these systems remain in service. The two markets are projected to grow to US$25.67 billion by 2032, with a CAGR of close to 3%.

The recent war in Ukraine has highlighted the importance of motorized, mechanized, and armoured forces in a near-peer threat environment, with mobility and protection being among the key aspects of modern operations.

Interestingly, the war in Ukraine has also marked the importance of loitering munition, which could be regarded as a threat for the development of the mortar systems market due to the important advantages they offer. However, although they are competing markets, we project that there is room for both to complement each other in operations. For this reason, the study relates to the Loitering munition, Military Ammunition, and Precision Guided Ammunition studies.

The mortar system market will remain fragmented and competitive because its simplicity allows smaller suppliers to enter the market and offer solutions. Similar is the situation in the mortar ammunition market where a large number of countries prefer to develop an ammunition production capacity in order to safeguard their independence of supply during war and offer contribute to the overall economy.

US Army 5 120mm Stryker

US Army 5 120mm Stryker - Image Source: US Army

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Mortar Systems and Ammunition - Market and Technology Forecast to 2032