Market Share of Mortar Ammunition Industry
The mortar ammunition market is semi-consolidated. Elbit Systems Ltd, BAE Systems PLC, Nammo AS, General Dynamics Corporation, and Saab AB are some leading market players. Companies are collaborating to develop new ammunition and explore new market opportunities. For instance, companies like Singapore Technologies Engineering Ltd, SAMI, and Hanwha Defense collaborated to produce different kinds of ammunition, including mortars. Such collaborations are expected to help them increase their market presence and share in global markets during the forecast period.
Advancements in mortar ammunition capabilities, like range, precision, and lethality, are significant for manufacturers to attract new customers. On the other hand, partnerships with other manufacturers to locally produce munitions will allow them to enter new markets during the forecast period. Local players from several countries are expected to enter the market in the coming years, driven by the growing push for the localization of military equipment. This factor is expected to increase the competition in the market in the coming years.
Mortar Ammunition Market Leaders
Saab AB
Nammo AS
General Dynamics Corporation
BAE Systems plc
Elbit Systems Ltd.
*Disclaimer: Major Players sorted in no particular order
