Mortar Ammunition Market Size, Share & Trends Analysis Report By Type (High-Explosive, Smoke, Illumination), By Caliber (60mm, 81mm, 120mm), By Applications (Military, Civilian) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Last Updated: August 24, 2026 | Author: Sumanta Mahato | Format:

Mortar Ammunition Market Size

The global mortar ammunition market size was valued at USD 93.49 billion in 2025 and is projected to grow from USD 98.44 billion in 2026 to USD 148.81 billion by 2034, registering a CAGR of 5.3% during the forecast period from 2026 to 2034. North America dominated the mortar ammunition market with a market share of 34.7% in 2025.

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.

Mortar Ammunition Market Trends

Increasing Military Expenditures and Modernization

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.

For instance, in January 2024, the U.S. Department of Defense announced a significant budget increase specifically for artillery and mortar systems as part of a broader military modernization initiative. This increased investment reflects a global trend where countries are prioritizing the modernization of their military arsenals to ensure operational readiness and maintain strategic advantages.

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.

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Segmental Analysis

By Type

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.

For instance, in May 2024, Elbit Systems launched a new high-explosive mortar round with enhanced fragmentation and impact capabilities, reflecting the ongoing demand for powerful and effective ammunition that can adapt to modern warfare's evolving needs.

Mortar Ammunition Market Size By Segments

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By Caliber

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.

By Application

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.

Mortar Ammunition Market Share By Segments

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Regional Analysis

North America: Dominant Region

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.

The U.S., in particular, allocates a substantial portion of its defense budget to artillery and mortar systems as part of its broader strategy to upgrade its military infrastructure. For example, in January 2024, the U.S. Department of Defense announced increased investments in mortar systems as part of its ongoing modernization efforts.

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.

Key Trends Shaping the North American Mortar Ammunition Market Include:

High defense spending and extensive military infrastructure investments.
Ongoing modernization programs and procurement of advanced mortar systems.
Collaboration with defense contractors and technology providers to enhance ammunition capabilities.

North America Mortar Ammunition Market Revenue Share 2025

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Asia-Pacific: Growing Region

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.

For example, China has been actively modernizing its military arsenal, including investing in high-tech mortar systems as part of its broader defense strategy. In 2024, China’s state-owned defense contractor, Norinco, introduced a new line of precision-guided mortar rounds to enhance its combat capabilities in disputed areas.

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.

Key Opportunities in This Market Include:

Growing defense budgets and military upgrades in key countries.
Increasing procurement of advanced mortar systems and ammunition.
Expanding defense collaborations and technology partnerships.

List of Key and Emerging Players in Mortar Ammunition Market

Nammo AS

Alliant Techsystems

Nexter

Saab AB

BAE Systems PLC

Hirtenberger Defence Systems GmBh & Co. KG

Rheinmetall Defence

General Dynamics Corporation

CBC

Elbit Systems Ltd.

Key Industry Developments

March 2026

Rheinmetall demonstrated its next-generation 120 mm Ragnarök mortar system and Mortar Mission Module during the Rheinmetall Nordic Mortar Day, showcasing advanced live-fire capabilities for NATO customers.

February 2026

Denmark awarded Rheinmetall a seven-year framework agreement to supply multiple ammunition types, including mortar ammunition, with deliveries beginning under initial orders worth hundreds of millions of euros.

October 2025

Nammo subsidiary Danammo secured a contract from the Danish Ministry of Defence to supply 155 mm artillery ammunition and 120 mm mortar ammunition for national defence stockpiles, with deliveries scheduled from 2026.

August 2025

MSM North America (part of Czechoslovak Group) won a U.S. Army contract to design, build, and commission a large-caliber ammunition loading facility, supporting future production of mortar and artillery ammunition in North America.

Report Scope

Segmentation

By Type 3

High-Explosive
Smoke
Illumination

By Caliber 3

60mm
81mm
120mm

By Applications 2

Military
Civilian

Geographies Covered

North America 2

U.S.
Canada

Europe 8

U.K.
Germany
France
Spain
Italy
Russia
Nordic
Benelux

APAC 8

China
Korea
Japan
India
Australia
Singapore
Taiwan
South East Asia

Middle East and Africa 6

UAE
Turkey
Saudi Arabia
South Africa
Egypt
Nigeria

LATAM 13

Brazil
Mexico
Argentina
Chile
Colombia
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Competitive Coverage Nammo AS · Alliant Techsystems · Nexter · Saab AB · BAE Systems PLC

Research Deliverables Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends

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Frequently Asked Questions (FAQs)

The mortar ammunition market size is valued at USD 98.44 Billion in 2026 and is projected to reach USD 148.81 Billion by 2034, at a CAGR of 5.3% during the forecast period 2026-2034.

North America dominated the market with a share of 34.7% in 2025.

The leading manufacturers in this market are Nammo AS, Alliant Techsystems, Nexter, Saab AB, BAE Systems PLC.

The mortar ammunition market is projected to grow at a CAGR of 5.3% during the forecast period of 2026 2034.

About the Author

Sumanta Mahato

Senior Research Analyst

Sumanta Mahato is a market intelligence and strategy professional with over 4+ years of experience advising organizations across industrial automation, machinery, aerospace and defense, and adjacent industrial technology sectors. He specializes in delivering data-driven market intelligence, strategic assessments, competitive benchmarking, demand forecasting, commercial due diligence, and growth strategy to support informed business and investment decisions.

His expertise encompasses industrial automation systems, manufacturing and process machinery, industrial equipment, aerospace technologies, defense systems, electrical and electromechanical infrastructure, and advanced industrial technologies. He brings strong domain knowledge in assessing market ecosystems, technology landscapes, supply-demand dynamics, regulatory and policy environments, pricing structures, value chains, competitive positioning, and emerging industry trends across global and regional markets.