Mortar Systems Market Analysis, Size, Share by 2030

Mortar Systems Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Caliber (Small Caliber, Medium Caliber, and Large Caliber) and Type (Towed/Handheld and Self-Propelled)

Publication Month : Feb 2024

  • Report Code : TIPRE00020393
  • Category : Aerospace and Defense
  • Status : Data Released
  • No. of Pages : 150
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[Research Report] The mortar systems market size is expected to grow from US$ 2,302.02 million in 2022 to US$ 3,540.55 million by 2030; it is estimated to register a CAGR of 5.5% from 2022 to 2030.

Analyst Perspective:

The mortar systems market has witnessed tremendous growth in the past few years. One of the major factors propelling the market growth is the rising military expenditure for procuring warfare technologies across different regions. The mortar systems market trends include the rising development of self-propelled artillery systems, including mortar systems. These systems are currently being utilized across major countries' wars, such as Russia-Ukraine, US-Iran, Israel-Palestine, and China-Taiwan. Moreover, the rising awareness about strengthening the armed forces of different countries is expected to provide growth opportunities to the market players.

Market Overview:

The scope of the mortar systems market report encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). The mortar systems market is likely to register healthy growth in the coming years. However, the market is moderately consolidated with the presence of a limited number of players operating across different regions. Moreover, some countries have been pushing their military investments in terms of procuring vehicle-mounted mortar systems to replace their older fleet of mortars that are outdated and operated with the higher side of the monetary sources.

The constant tensions among countries such as Russia-Ukraine, China-Taiwan, Israel-Palestine, US-China, India-Pakistan, and India-China. Further, this is also due to the rising geopolitical competition among different countries for strengthening their respective armed forces for which they are procuring such advanced warfare technologies and adding value to their respective armed forces. Such factors have been pushing the deployment of mortars in larger numbers, which is further catalyzing the mortar systems market growth across different regions.

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Mortar Systems Market: Strategic Insights

mortar-system-market
Market Size Value inUS$ 2,302.02 million in 2022
Market Size Value byUS$ 3,540.55 million by 2030
Growth rateCAGR of 5.5% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Market Driver:

Rising Number of Contracts for Mortar Systems Driving Mortar Systems Market

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 mortar systems manufacturers to procure mortar systems of different calibers. 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. They enable armed forces to facilitate enhanced remote firing on ground or naval platforms.

The majority of the countries' armed forces have been investing heavily in the procurement of mortar systems. A few examples are mentioned below:

  • In July 2023, the US Special Operations Command (USSOCOM) awarded a contract worth US$ 2 million to OKSI company for the supply of precision guidance kits for 81-millimeter mortar system rounds.
  • In May 2023, Israel's Elbit Systems Ltd won a contract worth US$ 21.8 million for the supply of mortar systems and training equipment to a Balkan Nation called Montenegro.
  • In September 2022, the US Army awarded an indefinite delivery/indefinite quantity (ID/IQ) contract with a maximum potential value of ~US$ 49 million to Elbit Systems' North American subsidiary called Elbit Systems America LLC for the supply of 120 mm mortar systems.
  • In April 2023, the Swiss Federal Office of Armament (armasuisse) signed a contract worth US$ 190 million with GDELS-Mowag for the production of a second tranche of 16 120 mm Mortar 16 systems. Under the contract, RUAG will supply its 120 mm Cobra recoiling mortar systems.

The growing number of contracts and deals to procure advanced military forces to combat ground warfare is a major driver for the mortar systems market globally.

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Segmental Analysis:

The mortar systems market analysis has been carried out by considering the following segments: caliber and type. Based on caliber, the market is segmented into small caliber, medium caliber, and large caliber. In 2022, The medium caliber segment held the largest mortar systems market share. The medium segment accounted for 46.8% of the market share, and it is expected to account for 44.8% by 2030. The large caliber segment is likely to register the highest CAGR of ~6% during 2022–2030. This can be attributed to the rising demand for long-range and higher-caliber mortar weapon systems.

Fire control system is one of the most expensive and important components of any artillery system. Many countries have been investing a significant portion of their respective military expenditure for the procurement of advanced fire control systems for their existing artilleries. Rising procurement of new artillery systems by different countries and increasing modification of existing artillery systems are among the factors propelling the demand for fire control systems across different regions. For instance, in September 2023, Elbit Systems Ltd won a contract worth US$ 200 million for supplying C4I solution to artillery battalions and a Hostile Fire Counter Attack (HFCA) system to an undisclosed customer in the European Union. Such factors are catalyzing the mortar systems market share in the artillery systems industry.

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Regional Analysis:

The North America mortar systems market was valued at US$ 1,678.30 million in 2022 and is projected to reach US$ 3,016.69 million by 2030; it is expected to register a CAGR of 7.6% from 2022 to 2030. North America has the presence of a few major mortar systems manufacturers, such as Elbit Systems, General Dynamics Ordnance and Tactical Systems, and Northrop Grumman Corporation. These companies have their respective production facilities across different parts of the region and keeps catering to the demand for mortar systems from their respective facilities. The US accounted for the largest mortar systems market share in North America, owing to the presence of the key mortar systems manufacturers and the largest military expenditure globally.

Key Player Analysis:

The mortar systems market report includes the company profiles of the players such as 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, and Arquus. These are the top market players, owing to the diversified product portfolio offered.

Recent Developments:

The mortar systems market forecast can help stakeholders plan their growth strategies. Inorganic and organic strategies such as product launches, mergers, and acquisitions are highly adopted by companies operating in the mortar systems market. For instance, in July 2023, Avibras Indústria Aeroespacial signed a memorandum of understanding with Saudi company SCOPA Defense to develop and manufacture advanced defense equipment. The partnership aims to create new jobs, ensure Saudi Arabia's sovereignty, and contribute to the private sector. SCOPA aims to stimulate other sectors, such as industrial equipment, communications, and information technology, by establishing private defense industries. Such strategic initiatives are catalyzing the mortar systems market growth from the suppliers' perspective.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Caliber, and Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is the future trend for the mortar systems market?

Demand for self-propelled mortar systems is one of the major trends expected to drive the market in the coming years.

Who are the major vendors in the mortar systems market?

Elbit Systems Ltd, General Dynamics Ordnance and Tactical Systems, Hirtenberger Defence Systems, Thales, and Rheinmetall AG are some of the key market players operating in the global mortar systems market.

What are reasons behind the mortar systems market growth?

Surge in global military expenditure and rising number of contracts for the procurement of mortar systems are contributing to the growth of mortar systems market.

Which region to dominate the mortar systems market by 2030?

North America is expected to account for the largest share during the forecast period and it is likely to retain its dominance during the forecast period as well.

What are market opportunities for the mortar systems market?

Increasing awareness for strengthening armed forces of different countries and rising cross country conflicts are some of the key factors likely to generate new opportunities for market vendors during the forecast period.

1. Introduction

1.1 Scope of the Study

1.2 Market Definition, Assumptions and Limitations

1.3 Market Segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness Analysis

3. Research Methodology

4. Mortar Systems Market Landscape

4.1 Overview

4.2 Porter’s Five Forces Analysis

4.3 Ecosystem Analysis

4.3.1 List of Vendors in the Value Chain

5. Mortar Systems 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 Systems Market - Global Market Analysis

6.1 Mortar Systems - Global Market Overview

6.2 Mortar Systems - Global Market and Forecast to 2031

7. Mortar Systems Market – Revenue Analysis (USD Million) – By Caliber, 2021-2031

7.1 Overview

7.2 Small Caliber

7.3 Medium Caliber

7.4 Large Caliber

8. Mortar Systems Market – Revenue Analysis (USD Million) – By Type, 2021-2031

8.1 Overview

8.2 Towed/Handheld

8.3 Self-Propelled

9. Mortar Systems Market - Revenue Analysis (USD Million), 2021-2031 – Geographical Analysis

9.1 North America

9.1.1 North America Mortar Systems Market Overview

9.1.2 North America Mortar Systems Market Revenue and Forecasts to 2031

9.1.3 North America Mortar Systems Market Revenue and Forecasts and Analysis - By Caliber

9.1.4 North America Mortar Systems Market Revenue and Forecasts and Analysis - By Type

9.1.5 North America Mortar Systems Market Revenue and Forecasts and Analysis - By Countries

9.1.5.1 United States Mortar Systems Market

9.1.5.1.1 United States Mortar Systems Market, by Caliber

9.1.5.1.2 United States Mortar Systems Market, by Type

9.1.5.2 Canada Mortar Systems Market

9.1.5.2.1 Canada Mortar Systems Market, by Caliber

9.1.5.2.2 Canada Mortar Systems Market, by Type

9.1.5.3 Mexico Mortar Systems Market

9.1.5.3.1 Mexico Mortar Systems Market, by Caliber

9.1.5.3.2 Mexico Mortar Systems Market, by Type

Note - Similar analysis would be provided for below mentioned regions/countries

9.2 Europe

9.2.1 Germany

9.2.2 France

9.2.3 Italy

9.2.4 United Kingdom

9.2.5 Russia

9.2.6 Rest of Europe

9.3 Asia-Pacific

9.3.1 Australia

9.3.2 China

9.3.3 India

9.3.4 Japan

9.3.5 South Korea

9.3.6 Rest of Asia-Pacific

9.4 Middle East and Africa

9.4.1 South Africa

9.4.2 Saudi Arabia

9.4.3 U.A.E

9.4.4 Rest of Middle East and Africa

9.5 South and Central America

9.5.1 Brazil

9.5.2 Rest of South and Central America

10. Industry Landscape

10.1 Mergers and Acquisitions

10.2 Agreements, Collaborations, Joint Ventures

10.3 New Product Launches

10.4 Expansions and Other Strategic Developments

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players

11.2 Company Positioning and Concentration

12. Mortar Systems Market - Key Company Profiles

12.1 Hirtenberger Defense Systems

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

Note - Similar information would be provided for below list of companies

12.2 General Dynamics Ordnance and Tactical Systems

12.3 Thales SA

12.4 Elbit Systems Ltd

12.5 Rheinmetall AG

12.6 Raytheon Technologies Corporation

12.7 RUAG Group

12.8 Northrop Grumman Corporation

12.9 ST Engineering

12.10 Arquus

13. Appendix

13.1 Glossary

13.2 About The Insight Partners

13.3 Market Intelligence Cloud

The List of Companies - Mortar System Market

  1. Hirtenberger Defence Systems
  2. General Dynamics Ordnance and Tactical Systems
  3. Thales
  4. Elbit Systems Ltd
  5. Rheinmetall AG
  6. Raytheon Technologies Corporation
  7. RUAG Group
  8. Northrop Grumman Corporation
  9. ST Engineering
  10. Arquus

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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