Mortar Systems Market is expected to reach US$ 3.54 billion by 2031

The Rising Contracts for Mortar Systems if Boosting the Mortar Systems Market Growth

According to our latest market study on "Mortar Systems Market Forecast to 2031 – Global Analysis – by Calibre, Type, and Geography," the market was valued at US$ 2.30 billion in 2023, and it is expected to reach US$ 3.54 billion by 2031; it is anticipated to register a CAGR of 5.5% from 2023 to 2031.

The major stakeholders in the global mortar systems market ecosystem include component suppliers, mortar system manufacturers, and end users. The raw material /component providers are the crucial stakeholders in the ecosystem of the mortar systems market. The major components used in mortar systems includes base plate, barrels, bipod, sight and other small components. The timely supply of all these components is crucial for efficient operation across mortar system manufacturing plants. Thus, any operational impact on these component providers directly impacts the mortar systems market. For instance, in 2020 the raw material suppliers faced challenges such as scarcity of raw material, chemicals, metals, etc. had hampered the production and timely supply of the mortar systems to the customers.

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. Furthermore, the increasing governmental expenditure showcases governments' focus on strengthening national security forces. There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments, and vehicles, among others; hence, military forces worldwide are focusing on investing significant amounts in procuring mortar systems and other advanced technologies. Defense forces' constant inclination to acquire new technologies for noncombat and combat operations further boosts military expenditure worldwide.

Mortar Systems Market Share – by Region, 2022

Source: The Insight Partners Analysis

As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure increased to US$ 2,148 billion in 2022, representing a 3.5% increase from 2021. The US, China, India, Russia, and Saudi Arabia were the top five spenders in 2022, accounting for 63% of global expenditures. The figure given below depicts the yearly spending of these countries.

Military Expenditure of Top Five Countries (2020–2022)

Source: SIPRI

The increasing military expenditure encourages incorporating advanced warfare technologies such as high-range antennas, self-propelled artillery including howitzers/mortar systems, advanced communication devices, unmanned vehicles, radars, missile detection systems, surveillance and navigation systems, and modern warfare technologies. In addition, a high military budget supports the countries in assigning resources for the advancement and upgrade of their exisssting air, ground-based, and naval defense systems. Such factors have been boosting the mortar systems market growth across different regions.

Some of the major players profiled in the mortar systems market report includes Hirtenberger Defence Systems, General Dynamics Ordnance and Tactical Systems, Thales, Elbit Systems Ltd, Rheinmetall AG, Raytheon Technologies Corporation, RUAG Group, Northrop Grumman Corporation, ST Engineering, Arquus. Such companies are another major entities catalyzing the mortar systems market size across different regions by providing the customers with reliable mortar solutions to cater to the growing market demand and remain competitive in the market.

The global mortar systems market report, plays an important role in providing help for shaping the military capabilities of nations, influencing defense strategies, and contributing to geopolitical dynamics. With a multifaceted landscape influenced by technological advancements, security threats, and international collaborations, the mortar systems market is characterized by ongoing modernization efforts, diversification of capabilities, and the integration of cutting-edge technologies. The demand for diversified artillery capabilities is a key factor shaping the global mortar systems market share in the whole artillery systems industry. Nations seek artillery systems that can address a spectrum of operational scenarios, from conventional warfare to counterinsurgency operations. This diversification includes the development and acquisition of various artillery types, such as hand-held mortars, self-propelled mortars, rocket launchers, and howitzers. The goal is to possess a versatile artillery portfolio that can respond effectively to different threats and terrains. Further, in 2022, the North America market accounted for a larger mortar systems market share and is expected to retain its dominance in the coming years as well. This is mainly due to the presence of vendors in North America region such as General Dynamics Ordnance & Tactical Systems, Northrop Grumman Corporation, and Raytheon Technologies in the US and Canadian countries.

Emerging markets, particularly in regions such as Asia Pacific and the Middle East, are some other key contributing regions to the global mortar systems market. Increased defense budgets, territorial tensions, and emphasis on indigenous defense capabilities characterize these regions. Governments in emerging markets are actively procuring artillery systems to build robust defense postures and reduce dependency on foreign suppliers. The procurement trends in these regions include a mix of imported systems and indigenous development initiatives.

Geopolitical considerations significantly influence the global mortar systems market growth. Strategic rivalries, territorial disputes, and regional conflicts drive the demand for artillery capabilities. Nations often align their procurement strategies with perceived threats and geopolitical realities. The arms race and military build-up in certain regions contribute to the growth of the mortar systems market as countries strive to maintain strategic parity or superiority.

The growing adoption of self-propelled mortars is further acting as one of the major mortar systems market trends across different countries. Further, many European countries such as Russia, the UK, Germany have been using self-propelled mortar systems since past two decades and have been the leaders in the adoption of self-propelled mortars across the world. Many companies have already developed self-propelled artillery systems to provide their customers with reliable and desired mission solutions to remain competitive in the highly competitive marketplace. Similarly, many other companies have been collaboratively working for the development and advancements in the self-propelled artillery systems that is expected to cater the emerging needs for the customers in the coming years as well. Hence, the increase in the deployment of self-propelled artillery systems is anticipated to catalyze the mortar systems market size in the coming years.

The increasing application of unmanned systems for various purposes, including weapon delivery, surveillance, or detection, boosts the demand for self-propelled mortar systems. The increasing adoption of self-propelled mortar systems reduces the logistics and transportation challenges faced while moving any artillery system. Self-propelled mortar systems allow for the reduction of the operational manpower required to operate any artillery systems such as mortar systems, howitzer, or rocket artilleries.

The mortar systems market players are strongly focusing on collaborating with different armed forces, and government of different countries to understand their respective demands and offer them suitable resolutions. Moreover, several aviation associations and organizations of different nations are investing substantially for the development of advanced mortar systems products which is another major factor supporting the global mortar systems market growth across different regions.

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