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The Mortar Ammunition Market is segmented by Caliber Type (Light Caliber Ammunition, Medium Caliber Ammunition, and Heavy Caliber Ammunition), and Geography.
Fastest Growing Market:
The mortar ammunition market is estimated to register a CAGR of over 3% during the forecast period, 2020-2025.
A mortar is an artillery weapon that is capable of firing explosive shells. The shells are known as (mortar) bombs. They are fired at targets that are nearby, owing to the fact that mortars do not have long range. It has a short barrel, which fires the mortar bomb at a low speed and in an upward direction, in order to reach the target. Mortars have been made in different sizes, from large and heavy mortars to light infantry mortars, which can be carried by a soldier. Mortars are also known as indirect fire weapons because the bomb drops onto the target from above, rather than being aimed straight at the target.
|Light Caliber Ammunition|
|Medium Caliber Ammunition|
|Heavy Caliber Ammunition|
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Currently, the heavy mortar segment has the highest share out of all the other segments. Heavy mortars are those, which are 100mm and above, and typically have a range of 500-7000m. Companies have been aiming to develop new mortars with increased range. Companies, such as Saab AB, have been engaged in developing more new mortar rounds. Saab AB has announced that it has acquired a new 120mm heavy mortar round named THOR.
Moreover, THOR has been designed to offer twice the effect, when compared to a conventional 120mm mortar round. Additionally, Russia, in 2018, reported recent developments in heavy-caliber artillery. In 2017, Uraltranmash Company, a subsidiary of Uralvagonzavod Company, announced a new product, a modernized version of the 2S4 Tyulpan self-propelled mortar new onboard systems and communications equipment. The 240mm self-propelled mortar is the most extensive artillery system in the world. The primary ammunition for the 240mm mortar is a high-explosive 53-F-864 mortar projectile that contains 32 kg of the explosive charge. It can fire one round of ammunition per minute. Thus, upcoming developments and upgrades are expected to lead to renewing the interest of armies worldwide and shall increase the focus on this segment. These are expected to be the reasons for its projected high CAGR.
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In the mortar ammunition market, regionally, North America has been generating the highest revenue, currently. North America has also been witnessing a significant increase in the number of developments related to mortar ammunition. Newer technological developments are being carried out by the US Army to resupply pinned down troops with ammunition, during a firefight. The US Army has been making use of GPS guided mortar shells, known as Ammunition Resupply Projectile (ARP), which possesses the capability of resupplying 5.56 mm rounds to the troops during a firefight, by making use of parasails during the landing process. Thus, upcoming developments, such as these, in the North American region, may lead to a positive impact on the growth of the market.
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Elbit Systems Ltd, General Dynamics Corporation, Nexter Group KNDS, and Rheinmetall AG are among the various major players in the mortar ammunition market. In 2018, Saab AB reported that it had been chosen in competition for a mortar ammunition contract among different other vendors for 81 mm grenades, including both explosive and training rounds for an undisclosed customer. The framework contract shall have a duration of five years, and the first order shall take place in 2019, and deliveries shall commence in 2020. Various strategies, such as product innovation, increasing investments in R&D, and setting up new research laboratories, may lead to multiple players gaining traction during the forecast period.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Caliber Type
5.1.1 Light Caliber Ammunition
5.1.2 Medium Caliber Ammunition
5.1.3 Heavy Caliber Ammunition
5.2.1 North America
22.214.171.124 United States
5.2.2 Latin America
126.96.36.199 Rest of Latin America
188.8.131.52 Rest of Asia-Pacific
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.2.5 Middle East & Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Elbit Systems Ltd
6.2.2 General Dynamics Corporation
6.2.3 Nexter Group KNDS
6.2.4 RUAG Group
6.2.5 BAE Systems PLC
6.2.6 Rheinmetall AG
6.2.7 Saab AB
6.2.8 Thales Group
6.2.9 Nammo AS
6.2.10 Denel Land Systems
6.2.11 Israel Military Industries
6.2.12 Hirtenberger Defence Systems Gmbh & Co KG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability