Mortar Artillery System Market Trends and Forecast (2021-2031)
The Mortar Artillery System Market is expected to register a CAGR of 5.5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 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 ReportThe 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
- Towed/Hand-Held
- Self-Propelled
Strategic Insights
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.
- 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.
- 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.
Market Report Scope
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.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the major trends driving the mortar artillery system market are:
1. Deployment of Self-Propelled Mortar Systems
The major factors driving the mortar artillery system market are:
1. Surging Defense Spending
2. Rising Number of Contracts for Mortar Systems
The Mortar Artillery System Market is estimated to witness a CAGR of 5.5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Mortar Artillery System Market - By Caliber
1.3.2 Mortar Artillery System Market - By Range
1.3.3 Mortar Artillery System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MORTAR ARTILLERY SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. MORTAR ARTILLERY SYSTEM MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. MORTAR ARTILLERY SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. MORTAR ARTILLERY SYSTEM - GLOBAL MARKET OVERVIEW
6.2. MORTAR ARTILLERY SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MORTAR ARTILLERY SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - CALIBER
7.1. OVERVIEW
7.2. CALIBER MARKET FORECASTS AND ANALYSIS
7.3. SMALL
7.3.1. Overview
7.3.2. Small Market Forecast and Analysis
7.4. MEDIUM
7.4.1. Overview
7.4.2. Medium Market Forecast and Analysis
7.5. HEAVY
7.5.1. Overview
7.5.2. Heavy Market Forecast and Analysis
8. MORTAR ARTILLERY SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - RANGE
8.1. OVERVIEW
8.2. RANGE MARKET FORECASTS AND ANALYSIS
8.3. SHORT
8.3.1. Overview
8.3.2. Short Market Forecast and Analysis
8.4. MEDIUM
8.4.1. Overview
8.4.2. Medium Market Forecast and Analysis
8.5. LONG
8.5.1. Overview
8.5.2. Long Market Forecast and Analysis
9. MORTAR ARTILLERY SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Mortar Artillery System Market Overview
9.1.2 North America Mortar Artillery System Market Forecasts and Analysis
9.1.3 North America Mortar Artillery System Market Forecasts and Analysis - By Caliber
9.1.4 North America Mortar Artillery System Market Forecasts and Analysis - By Range
9.1.5 North America Mortar Artillery System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Mortar Artillery System Market
9.1.5.1.1 United States Mortar Artillery System Market by Caliber
9.1.5.1.2 United States Mortar Artillery System Market by Range
9.1.5.2 Canada Mortar Artillery System Market
9.1.5.2.1 Canada Mortar Artillery System Market by Caliber
9.1.5.2.2 Canada Mortar Artillery System Market by Range
9.1.5.3 Mexico Mortar Artillery System Market
9.1.5.3.1 Mexico Mortar Artillery System Market by Caliber
9.1.5.3.2 Mexico Mortar Artillery System Market by Range
9.2. EUROPE
9.2.1 Europe Mortar Artillery System Market Overview
9.2.2 Europe Mortar Artillery System Market Forecasts and Analysis
9.2.3 Europe Mortar Artillery System Market Forecasts and Analysis - By Caliber
9.2.4 Europe Mortar Artillery System Market Forecasts and Analysis - By Range
9.2.5 Europe Mortar Artillery System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Mortar Artillery System Market
9.2.5.1.1 Germany Mortar Artillery System Market by Caliber
9.2.5.1.2 Germany Mortar Artillery System Market by Range
9.2.5.2 France Mortar Artillery System Market
9.2.5.2.1 France Mortar Artillery System Market by Caliber
9.2.5.2.2 France Mortar Artillery System Market by Range
9.2.5.3 Italy Mortar Artillery System Market
9.2.5.3.1 Italy Mortar Artillery System Market by Caliber
9.2.5.3.2 Italy Mortar Artillery System Market by Range
9.2.5.4 United Kingdom Mortar Artillery System Market
9.2.5.4.1 United Kingdom Mortar Artillery System Market by Caliber
9.2.5.4.2 United Kingdom Mortar Artillery System Market by Range
9.2.5.5 Russia Mortar Artillery System Market
9.2.5.5.1 Russia Mortar Artillery System Market by Caliber
9.2.5.5.2 Russia Mortar Artillery System Market by Range
9.2.5.6 Rest of Europe Mortar Artillery System Market
9.2.5.6.1 Rest of Europe Mortar Artillery System Market by Caliber
9.2.5.6.2 Rest of Europe Mortar Artillery System Market by Range
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Mortar Artillery System Market Overview
9.3.2 Asia-Pacific Mortar Artillery System Market Forecasts and Analysis
9.3.3 Asia-Pacific Mortar Artillery System Market Forecasts and Analysis - By Caliber
9.3.4 Asia-Pacific Mortar Artillery System Market Forecasts and Analysis - By Range
9.3.5 Asia-Pacific Mortar Artillery System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Mortar Artillery System Market
9.3.5.1.1 Australia Mortar Artillery System Market by Caliber
9.3.5.1.2 Australia Mortar Artillery System Market by Range
9.3.5.2 China Mortar Artillery System Market
9.3.5.2.1 China Mortar Artillery System Market by Caliber
9.3.5.2.2 China Mortar Artillery System Market by Range
9.3.5.3 India Mortar Artillery System Market
9.3.5.3.1 India Mortar Artillery System Market by Caliber
9.3.5.3.2 India Mortar Artillery System Market by Range
9.3.5.4 Japan Mortar Artillery System Market
9.3.5.4.1 Japan Mortar Artillery System Market by Caliber
9.3.5.4.2 Japan Mortar Artillery System Market by Range
9.3.5.5 South Korea Mortar Artillery System Market
9.3.5.5.1 South Korea Mortar Artillery System Market by Caliber
9.3.5.5.2 South Korea Mortar Artillery System Market by Range
9.3.5.6 Rest of Asia-Pacific Mortar Artillery System Market
9.3.5.6.1 Rest of Asia-Pacific Mortar Artillery System Market by Caliber
9.3.5.6.2 Rest of Asia-Pacific Mortar Artillery System Market by Range
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Mortar Artillery System Market Overview
9.4.2 Middle East and Africa Mortar Artillery System Market Forecasts and Analysis
9.4.3 Middle East and Africa Mortar Artillery System Market Forecasts and Analysis - By Caliber
9.4.4 Middle East and Africa Mortar Artillery System Market Forecasts and Analysis - By Range
9.4.5 Middle East and Africa Mortar Artillery System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Mortar Artillery System Market
9.4.5.1.1 South Africa Mortar Artillery System Market by Caliber
9.4.5.1.2 South Africa Mortar Artillery System Market by Range
9.4.5.2 Saudi Arabia Mortar Artillery System Market
9.4.5.2.1 Saudi Arabia Mortar Artillery System Market by Caliber
9.4.5.2.2 Saudi Arabia Mortar Artillery System Market by Range
9.4.5.3 U.A.E Mortar Artillery System Market
9.4.5.3.1 U.A.E Mortar Artillery System Market by Caliber
9.4.5.3.2 U.A.E Mortar Artillery System Market by Range
9.4.5.4 Rest of Middle East and Africa Mortar Artillery System Market
9.4.5.4.1 Rest of Middle East and Africa Mortar Artillery System Market by Caliber
9.4.5.4.2 Rest of Middle East and Africa Mortar Artillery System Market by Range
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Mortar Artillery System Market Overview
9.5.2 South and Central America Mortar Artillery System Market Forecasts and Analysis
9.5.3 South and Central America Mortar Artillery System Market Forecasts and Analysis - By Caliber
9.5.4 South and Central America Mortar Artillery System Market Forecasts and Analysis - By Range
9.5.5 South and Central America Mortar Artillery System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Mortar Artillery System Market
9.5.5.1.1 Brazil Mortar Artillery System Market by Caliber
9.5.5.1.2 Brazil Mortar Artillery System Market by Range
9.5.5.2 Rest of South and Central America Mortar Artillery System Market
9.5.5.2.1 Rest of South and Central America Mortar Artillery System Market by Caliber
9.5.5.2.2 Rest of South and Central America Mortar Artillery System Market by Range
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. MORTAR ARTILLERY SYSTEM MARKET, KEY COMPANY PROFILES
11.1. BAE SYSTEMS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. DENEL LAND SYSTEMS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ELBIT SYSTEMS LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GENERAL DYNAMICS ORDNANCE AND TACTICAL SYSTEMS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HANWHA GROUP
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. IMI SYSTEMS LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LOCKHEED MARTIN CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. RHEINMETALL AG
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. RUAG GROUP
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ST ENGINEERING
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. BAE Systems
2. Denel Land Systems
3. Elbit Systems Ltd.
4. General Dynamics Ordnance and Tactical Systems
5. Hanwha Group
6. IMI Systems Ltd.
7. Lockheed Martin Corporation
8. Rheinmetall AG
9. RUAG Group
10. ST Engineering
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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