The global mortar ammunition market size was valued at USD 88.78 billion in 2024 and is expected to grow from USD 93.48 billion in 2025 to reach USD 141.31 billion by 2033, growing at a CAGR of 5.3% during the forecast period (2025-2033).
Mortar ammunition refers to the projectiles or explosive shells used in mortar systems, which are lightweight, portable, indirect-fire weapons designed for launching explosive rounds at high angles. Mortars typically fire at relatively short ranges but can provide powerful fire support, particularly in areas with ineffective direct-fire weapons (like rifles or artillery). Mortar ammunition is fired from a tube called a mortar, which directs the projectile toward a specific target.
Increased defense budgets, military modernization efforts, and significant advancements in ammunition technology primarily drive the growth of the market. Global defense spending has surged over the past decade, with many nations prioritizing the modernization of their military arsenals to enhance combat readiness. Evolving military strategies, coupled with heightened geopolitical tensions, are fueling the demand for advanced and reliable mortar ammunition.
Ongoing conflicts and regional instability, particularly in the Middle East, Eastern Europe, and parts of Asia, are further intensifying the need for cutting-edge mortar systems.
A key trend in the global market is the significant rise in military expenditures and modernization efforts as nations aim to enhance their defense capabilities and stay ahead of evolving security threats. This surge in spending is leading to increased procurement of advanced mortar systems and ammunition, which are critical components of modern military operations. Governments are focusing on upgrading their military infrastructure to improve both offensive and defensive strategies, making mortar systems an integral part of these efforts due to their versatility and effectiveness in various combat environments.
Other countries, such as China, Russia, and India, are also allocating substantial portions of their defense budgets toward modernizing their mortar capabilities. These investments are not only aimed at enhancing battlefield effectiveness but also at integrating new technologies like precision-guided munitions, advanced targeting systems, and smart ammunition. This trend is expected to drive continued growth in the global industry in the coming years.
A key driver in the global market is the growing focus on precision and accuracy in military operations. Modern warfare increasingly requires precision-guided munitions (PGMs) to minimize collateral damage while maximizing operational effectiveness.
This shift in military strategy is driving the demand for advanced mortar ammunition, which is designed to deliver high accuracy and reliable targeting capabilities. Mortar rounds equipped with advanced guidance systems, such as GPS or laser technology, allow forces to engage enemy targets with greater precision, reducing the likelihood of unintended damage and improving mission outcomes.
Moreover, the increasing emphasis on precision in military operations is not only driven by the need to improve combat efficiency but also by political and humanitarian concerns about minimizing civilian casualties and damage to infrastructure. As a result, defense forces across the globe are investing heavily in smart munitions and mortar systems, further accelerating the adoption of advanced, precision-driven mortar ammunition in both conventional and asymmetric warfare contexts.
The global market is hindered by stringent regulations and export controls, which are implemented to prevent the proliferation of advanced military technology and weaponry. These regulatory frameworks are designed to ensure that sensitive technologies, such as precision-guided mortar ammunition, do not fall into the wrong hands or contribute to escalating conflicts. However, such regulations often restrict trade and limit the international sales of mortar systems and ammunition, posing challenges for manufacturers and suppliers trying to access global markets.
Export controls, particularly on advanced types of mortar ammunition, can significantly reduce the growth potential of the market. Governments worldwide, particularly in regions like Europe and North America, impose strict guidelines on exporting military-grade ammunition to safeguard national security and maintain geopolitical stability.
Technological advancements are reshaping the global market, driving significant opportunities for growth. Traditional mortar rounds are being transformed into highly accurate and versatile weapons through innovations such as precision-guided munitions (PGMs), advanced fuses, and enhanced targeting systems.
The incorporation of GPS and laser guidance technologies allows mortars to achieve greater accuracy and extended range, significantly improving their operational effectiveness in modern combat environments. These advancements make mortar systems more adaptable to a variety of missions, including both offensive and defensive operations, while minimizing collateral damage.
One notable example of this trend is the introduction of smart mortar rounds by Rheinmetall in June 2024. These rounds feature GPS guidance, offering unparalleled precision and operational flexibility for military forces. Such innovations underscore the increasing demand for advanced mortar ammunition capable of delivering pinpoint accuracy in challenging battlefield conditions. The move toward digitized mortar systems also supports networked warfare strategies, enabling better coordination and targeting with other battlefield assets.
| Study Period | 2021-2033 | CAGR | 5.3% |
| Historical Period | 2021-2023 | Forecast Period | 2025-2033 |
| Base Year | 2024 | Base Year Market Size | USD 88.78 billion |
| Forecast Year | 2033 | Forecast Year Market Size | USD 141.31 billion |
| Largest Market | North America | Fastest Growing Market | Asia-Pacific |
North America continues to lead the global mortar ammunition market, largely due to the substantial defense budgets and advanced military capabilities of countries like the United States and Canada. The region's focus on modernizing military equipment, enhancing combat readiness, and maintaining a technological advantage drives significant demand for advanced mortar ammunition.
Canada also emphasizes strengthening its defense capabilities, contributing to the region's dominance in the market. Moreover, North American defense manufacturers like Raytheon Technologies and Northrop Grumman are at the forefront of developing cutting-edge mortar ammunition, including precision-guided rounds, further cementing the region’s leadership. This commitment to innovation and modernization continues to fuel growth in the North American mortar ammunition market.
The Asia-Pacific region is witnessing significant growth in the mortar ammunition industry, propelled by rising defense expenditures and extensive military modernization efforts in countries like China, India, and Japan. The region’s strategic importance, marked by ongoing territorial disputes and regional conflicts, drives the demand for advanced mortar systems.
Similarly, India is expanding its mortar capabilities to bolster its defense along its borders with China and Pakistan, with recent contracts for advanced mortar systems highlighting this trend. Japan is also upgrading its military infrastructure to maintain regional security, further fueling demand for sophisticated mortar ammunition. This regional focus on modernization underscores the growing importance of mortar systems in Asia-Pacific’s defense strategies.
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The global market is segmented into high-explosive, smoke, and illumination ammunition. The high-explosive (HE) segment dominates the global mortar ammunition market due to its essential role in offensive military operations. These rounds are designed to inflict maximum damage, making them crucial for neutralizing enemy forces, destroying fortifications, and suppressing adversaries during combat. The wide range of applications for high-explosive rounds in both offensive and defensive operations drives consistent demand.
The global market is divided into 60mm, 81mm, and 120mm mortars. The 81mm caliber mortars dominate the market due to their optimal balance between range, firepower, and versatility. This caliber is widely used for its effectiveness in close support, indirect fire missions, and adaptability to diverse combat situations. Its versatility makes it the preferred choice for various military applications. In April 2024, Thales Group introduced an advanced 81mm mortar system with improved range and accuracy, catering to the growing demand for versatile mortar systems that can operate efficiently in both urban and open terrain, highlighting its dominance in the market.
The global market is categorized into military and civilian use. The military segment dominates the global mortar ammunition market, driven by the extensive use of mortar systems in combat operations, military readiness programs, and training exercises. It is a critical component of modern military strategies, providing essential firepower in both offensive and defensive roles. In January 2024, the U.S. Army conducted large-scale training exercises using newly developed mortar ammunition, reinforcing the ongoing emphasis on enhancing military capabilities and operational readiness. This highlights the military’s crucial role in driving market demand as nations focus on maintaining advanced and effective combat systems.
As per our analyst, the mortar ammunition market is on a robust growth trajectory, driven by increased global defense spending, technological advancements, and escalating geopolitical tensions. Major military powers, including the United States, China, and India, are heavily investing in modernizing their artillery and mortar systems, reflecting a broader trend toward enhanced military capabilities.
Innovations in precision-guided munitions and smart fuses, spearheaded by industry leaders such as Rheinmetall and Lockheed Martin, are significantly improving mortar system effectiveness, meeting the growing demand for higher accuracy in contemporary warfare. Ongoing geopolitical conflicts, particularly in Eastern Europe and the Middle East, further fuel the need for advanced mortar ammunition.
However, the market is not without its challenges. Stringent regulatory and export controls pose potential barriers to availability and pricing. Likewise, recent global supply chain disruptions have led to production delays and increased costs. Despite these obstacles, the market’s growth prospects remain strong.
Continued defense investments and ongoing technological advancements are expected to drive future expansion. Companies that can navigate these challenges while capitalizing on emerging technologies will be well-positioned for success in this dynamic sector.
