Mortar Artillery System Market Statistics, Trends, Size, Share, and Key Players by 2031

The Mortar Artillery System Market is expected to register a CAGR of 5.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by Calibre (Small Calibre, Medium Calibre, Large Calibre); Type (Towed/Hand-Held, Self-Propelled). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Mortar Artillery System Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

• Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
• Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
• Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Mortar Artillery System Market Segmentation

Calibre

• Small Calibre
• Medium Calibre
• Large Calibre

Type

• Towed/Hand-Held
• Self-Propelled

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Mortar Artillery System Market Growth Drivers

• Surging Defense Spending: The evolving modern warfare scenario has compelled governments of various countries across the globe to assign significant funds and financial aid toward respective defense and military forces. The defense budget allocation supports army and military forces to obtain enhanced technologies and equipment from domestic or international developers. On the other hand, military and army vehicle upgrades are on the rise owing to growing defense budget allocation.
  
• Rising Number of Contracts for Mortar Systems: Manufacturers operating in the mortar systems market strongly focus on collaborating with different governments and armed forces to comprehend their respective demands and offer them suitable solutions. The military forces of various countries are providing numerous contracts to artillery systems manufacturers to procure several communication, surveillance, and navigation systems. Moreover, the defense forces of different nations are investing substantially in procuring artillery systems such as rocket artillery, mortars, and howitzers. Artillery systems are reliable for taking down short, medium, and long-range targets.

Mortar Artillery System Market Future Trends

• Deployment of Self-Propelled Mortar Systems: The increasing application of unmanned systems for various purposes, including weapon delivery, surveillance, or detection, boosts the demand for self-propelled artillery systems. The increasing adoption of self-propelled artillery systems reduces the logistics and transportation challenges faced while moving any artillery system. Self-propelled artillery systems allow for the reduction of the operational manpower required to operate any artillery systems such as howitzer or rocket artilleries.
  
• Manufacturers Focus on Developing Modular and Lightweight Modern Mortar Systems Designs: The trend toward modular and lightweight mortar systems is becoming increasingly important. Modern mortar systems are being designed to be more modular, allowing for easier customization and integration with other military systems. The modularity of mortars enables armed forces to adapt them for various combat situations, from infantry support to vehicle-mounted artillery. Furthermore, lightweight designs are enhancing the portability and mobility of mortar systems, enabling faster deployment in dynamic combat environments. These trends are driving the development of more flexible, adaptable, and deployable mortar systems, making them more attractive to military forces looking for versatile solutions.

Mortar Artillery System Market Opportunities

• Deployment of Countermeasure Systems: The changing geopolitical scenario worldwide boosts the requirement for strong defense countermeasure systems. The constant tension between the nations such as Russia-Ukraine, India-China, Pakistan-India, Israel-Palestine, and US-China is compelling their governments to strengthen their respective armed forces, which is also propelling the procurement of warfare systems such as different types of mortars and howitzers. Hence, the armed forces across different countries are investing in procuring artillery systems such as surface-to-air rocket artillery, self-propelled howitzers, early warning systems, and border surveillance systems.
  
• Technological Advancements in Mortar Systems: As militaries seek to improve the effectiveness of their artillery systems, there is a significant opportunity for innovation in the technology behind mortar artillery systems. One key area is the integration of smart and precision-guided ammunition (PGMs) for mortars. These advanced projectiles offer greater accuracy, minimizing collateral damage and ensuring that targets are hit with greater precision. Additionally, automated loading systems, improved fire control systems, and advanced communications technology are transforming mortar systems, making them more efficient and effective in modern combat scenarios. Manufacturers can capitalize on these technological advancements by developing and offering more sophisticated, high-tech mortar artillery solutions.

Mortar Artillery System Market Regional Insights

The regional trends and factors influencing the Mortar Artillery System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mortar Artillery System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Mortar Artillery System Market Report Scope

Mortar Artillery System Market Players Density: Understanding Its Impact on Business Dynamics

The Mortar Artillery System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Mortar Artillery System Market are:

1. BAE Systems
2. Denel Land Systems
3. Elbit Systems Ltd.
4. General Dynamics Ordnance and Tactical Systems
5. Hanwha Group

Disclaimer: The companies listed above are not ranked in any particular order.

Key Selling Points

• Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Mortar Artillery System Market, providing a holistic landscape.
• Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
• Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
• Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Mortar Artillery System Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.