Mortar Ammunition Market Size
| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 3.96 Billion |
| Market Size (2030) | USD 4.83 Billion |
| CAGR (2025 - 2030) | 4.05% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Mortar Ammunition Market Analysis
The Mortar Ammunition Market size is estimated at USD 3.96 billion in 2025, and is expected to reach USD 4.83 billion by 2030, at a CAGR of 4.05% during the forecast period (2025-2030).
Countries are highly investing in enhancing their military capabilities through the acquisition of new weapon systems and the modernization of existing systems with advanced ammunition. The increase in territorial disputes has driven land forces to acquire mortar systems. The demand for mortar ammunition is growing due to the increased adoption of modern artillery systems that improve infantry units' mobility, accuracy, and combat effectiveness. Mortars provide essential indirect fire support during tactical operations, with technological advances in precision guidance, range, and lethality driving market expansion. Countries facing geopolitical tensions are bolstering their defense budgets, fueling a surge in the market for lightweight, portable mortar systems designed for swift deployment across varied terrains.
The mortar ammunition market is primarily driven by the increasing demand for lightweight and portable mortar systems that improve mobility and operational efficiency. Modern warfare's requirements for quick deployment and precision have resulted in higher investments in advanced mortar systems with enhanced accuracy, range, and lethality. The market growth is further supported by the incorporation of precision-guided technologies, which reduce collateral damage and increase effectiveness, particularly in regions experiencing geopolitical tensions.
The mortar market is experiencing increased demand due to technological advancements and expanded deployment by infantry and artillery units across global armed forces. Multiple development programs are focusing on creating lightweight ammunition with extended-range capabilities. Investment in precision-guided mortar ammunition development may create new market opportunities in the future.
Mortar Ammunition Market Trends
The Heavy Caliber Segment is Expected to Witness the Highest Growth During the Forecast Period
Mortar ammunition with caliber sizes of 100 mm and above falls under the heavy-caliber category. These mortars have a range of 7,200 m to 9,500 m and can deliver explosive payloads between 1.2 kg and 4.2 kg, based on mortar size. Heavy mortars primarily serve to neutralize enemy fortifications and disable armored vehicles. Multiple countries are currently implementing procurement programs as part of their weapons modernization initiatives.
The evolving nature of modern warfare has increased the demand for advanced arms and ammunition. The rise in defense budgets, ongoing border tensions, and the need to enhance military capabilities are expected to drive ammunition market growth. In April 2024, General Dynamics received a USD 250 million contract from the US Army to manufacture 120mm mortar rounds. The contract reflects the company's capabilities in developing advanced munitions for military applications.
Asia-Pacific is Expected to Show Highest Growth During the Forecast Period
The defense spending in Asian countries, including China, India, South Korea, and Japan, has increased significantly. Regional factors such as political disputes, cross-border conflicts, and terrorism have driven these nations to strengthen their defense capabilities through investments in advanced military equipment and ammunition.
The Stockholm International Peace Research Institute (SIPRI) report published in 2024 showed that China ranked as the world's second-largest defense spender and the largest in Asia-Pacific, with a defense budget of USD 309 billion. India ranked fourth globally in defense spending, with expenditures of USD 83.3 billion. The increase in defense expenditure has led countries to invest in developing and procuring new-generation mortar systems and ammunition. Countries are acquiring both advanced mortar systems and their corresponding ammunition. In January 2023, South Korea's Defense Acquisition Program Administration (DAPA) announced plans to deploy 120 mm self-propelled mortars (SPMs) within the Republic of Korea (RoK) Army by 2025. The country currently operates K-181 60 mm mortars and KM30 107 mm mortars. The government has also ordered additional mortars to strengthen border defense. These investments in advanced precision-guided mortar ammunition are expected to drive market growth in Asia-Pacific during the forecast period.
Mortar Ammunition Industry Segmentation
The mortar ammunition market is semi-consolidated, with a few major players, including Elbit Systems Ltd, BAE Systems PLC, Rheinmetall AG, General Dynamics Corporation, and Saab AB. These companies are forming strategic collaborations to develop new products and expand market opportunities. In April 2024, BAE Systems Ordnance Systems, a subsidiary of BAE Systems, partnered with Hanwha Defense USA to modernize the Radford Army Ammunition Plant to support the US Army.
Manufacturers are focusing on developing mortar ammunition with improved range, precision, and lethality to differentiate themselves in the market. Companies are also establishing partnerships for local production to access new markets, responding to the increasing demand for domestic defense manufacturing capabilities. This trend toward localization is expected to bring new domestic manufacturers into the market, increasing competition and altering market dynamics in the coming years.
Mortar Ammunition Market Leaders
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Rheinmetall AG
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BAE Systems Plc
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General Dynamics Corporation
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Elbit Systems Ltd.
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Saab AB
- *Disclaimer: Major Players sorted in no particular order
Mortar Ammunition Market News
- July 2024: Rheinmetall secured a contract with the Swiss Confederation for manufacturing and delivering 81mm mortar ammunition. The contract value is in the mid-double-digit million USD range. The agreement includes the production of 81mm MX2-KM mortars and various mortar cartridges for white light illumination, infrared illumination, and smoke discharge at the Neuenburg am Rhein plant. The munitions utilize Red Phosphorus (RP) as a base for smoke operations. The ammunition delivery is set for completion by the end of 2025.
- April 2024: Rheinmetall was awarded a contract by the Spanish authorities to supply 104,000 mortar projectiles in various caliber sizes, including 60 mm, 81 mm, and 120 mm, by the end of 2025.
Mortar Ammunition Industry Segmentation
The mortar ammunition market encompasses the global trade and manufacturing of projectiles designed for mortar weapon systems. Mortar systems are indirect fire weapons that launch explosive rounds in high-arcing trajectories. Military forces use mortar ammunition, classified by caliber size, for defensive operations, offensive missions, and tactical support. These munitions enable forces to engage targets, deliver suppressive fire, and conduct area denial operations. The market includes the production, distribution, and procurement of all mortar ammunition types.
The mortar ammunition market is segmented by caliber type and geography. By caliber type, the market is segmented into light, medium, and heavy caliber. Also, the report covers the market sizes and forecasts for the mortar ammunition market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Caliber Type | Light | ||
| Medium | |||
| Heavy | |||
| Geography | North America | United States | |
| Canada | |||
| Europe | United Kingdom | ||
| France | |||
| Germany | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Latin America | Brazil | ||
| Rest of Latin America | |||
| Middle East and Africa | Saudi Arabia | ||
| United Arab Emirates | |||
| Rest of Middle East and Africa | |||
| Light |
| Medium |
| Heavy |
| North America | United States |
| Canada | |
| Europe | United Kingdom |
| France | |
| Germany | |
| Rest of Europe | |
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific | |
| Latin America | Brazil |
| Rest of Latin America | |
| Middle East and Africa | Saudi Arabia |
| United Arab Emirates | |
| Rest of Middle East and Africa |
Mortar Ammunition Market Research Faqs
How big is the Mortar Ammunition Market?
The Mortar Ammunition Market size is expected to reach USD 3.96 billion in 2025 and grow at a CAGR of 4.05% to reach USD 4.83 billion by 2030.
What is the current Mortar Ammunition Market size?
In 2025, the Mortar Ammunition Market size is expected to reach USD 3.96 billion.
Who are the key players in Mortar Ammunition Market?
Rheinmetall AG, BAE Systems Plc, General Dynamics Corporation, Elbit Systems Ltd. and Saab AB are the major companies operating in the Mortar Ammunition Market.
Which is the fastest growing region in Mortar Ammunition Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Mortar Ammunition Market?
In 2025, the North America accounts for the largest market share in Mortar Ammunition Market.
What years does this Mortar Ammunition Market cover, and what was the market size in 2024?
In 2024, the Mortar Ammunition Market size was estimated at USD 3.80 billion. The report covers the Mortar Ammunition Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Mortar Ammunition Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Mortar Ammunition Industry Report
Statistics for the 2025 Mortar Ammunition market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mortar Ammunition analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
