The global mortar ammunition market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2022-2028). The increased investments and procurement of advanced precision-guided mortar ammunition are anticipated to boost the market’s growth during the forecast period. For instance, Elbit Systems has been awarded a USD 30 million contract to supply STYLET, a precision Guided Mortar Munition (GMM), to an unidentified Asia-Pacific customer. The munitions delivery is planned to be completed in 2022. STYLET is a multimode GPS/INS-guided 120mm GMM developed for tactical combat units and Special Forces with a range of 1,000-8,500 m.
Browse the full report description of “Global Mortar Ammunition Market Size, Share & Trends Analysis Report by Caliber Type (Light Caliber, Medium Caliber, and Heavy Caliber), By Component (Fuzes and Primers, Propellants, and Projectiles and Warheads) By Application (Military, and Homeland Security) Forecast Period 2022-2028” at https://www.omrglobal.com/industry-reports/mortar-ammunition-market
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in November 2020, BAE Systems signed a deal with the UK Ministry of Defense to supply munitions worth USD 3.2 billion over 15 years for the British military. As part of the Next Generation Munitions Solution (NGMS) program, BAE Systems will produce 39 different munitions for the armed services from five different sites across the United Kingdom. Small-arms ammunition, mortars, tank shells, medium-caliber gun rounds, and heavy artillery rounds are included in the delivery schedule, starting at the end of 2022.
Market Coverage
• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Application
o By Caliber Type
o By Component
• Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Elbit Systems Ltd, Saab AB, Nammo AS, and General Dynamics Corp., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Mortar Ammunition Market Report Segment
By Caliber Type
By Component
By Application
Global Mortar Ammunition Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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