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Mortar Ammunition Market - Growth, Trends, and Forecast (2019 - 2024)

Mortar Ammunition Market - Growth, Trends, and Forecast (2019 - 2024)

  • December 2019
  • 94 pages
  • ID: 5865818
  • Format: PDF
  • Mordor Intelligence LLP
Up to $1125 off Until Sep 30th 2020

Summary

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Market Overview
The mortar ammunition market is estimated to grow at a CAGR of over 3% during the forecast period 2019 - 2024.
- The increasing usage of mortars for short range combat by the armies worldwide on the battlefield which shall lead to a growth in the mortar ammunition market in the years to come.
- Technological developments such as Smart Mortar Rounds which has been developed by ST Kinetics, a subsidiary company of Singapore Technologies is an existing trend in the mortar ammunition market. The mortar round has been named as SPARCS (Soldier Parachute Aerial Reconnaissance Camera System) by ST Kinetics and is capable of climbing to 150 meters and deploys a small camera unit at the time of its landing which is attached to a parachute and thus transmits images to the ground unit for better battlefield view.
- Currently, countries such as the US, Canada, and the United Kingdom are making use of the smart mortar round.

Scope of the Report
A mortar is an artillery weapon which is capable of firing explosive shells. The shells are known as (mortar) bombs. They are fired at targets which 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 upwards direction in order to reach the target. Mortars are made in different sizes, from large and heavy mortars to light infantry mortars which can be carried by one soldier. Mortars are also known as indirect fire weapon because the bomb drops onto the target from above, rather than being aimed straight at the target.

Key Market Trends
Heavy Mortar Segment is Projected to Grow at a High Pace During the Forecast Period

Currently, heavy mortar segment has the highest share out of all the segments. Heavy mortars are all those mortars which are 100mm and above and typically have a range of 500m to 7000m. Companies are aiming to develop new mortars with increased range. Companies such as Saab AB are engaged in developing newer mortar rounds. Saab AB has announced that they have developed a new 120mm heavy mortar round which is named as THOR. Moreover, THOR has been designed to offer twice the effect as compared to a conventional 120mm mortar round. Additionally, Russia in 2018, reported recent developments in their heavy caliber artillery. In 2017, Uraltranmash Company, which is a subsidiary of Uralvagonzavod Company, announced a new product, a modernized version of the 2S4 Tyulpan self-propelled mortar with new onboard systems and communications equipment. The 240mm self-propelled mortar is the largest artillery system in the world and the primary ammunition for the 240mm mortar is a high-explosive 53-F-864 mortar projectile that contains 32 kg of the explosive charge and can fire one round of ammunition per minute. Thus, upcoming developments and upgrades shall lead to renewing the interest of armies worldwide and shall increase the focus on this segment, and this shall be the reason for its expected high CAGR.

Currently North America holds a Major Share in the Mortar Ammunition Market

In the mortar ammunition market, regionally, North America is generating the highest revenue at the moment. North America is 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 re-supply pinned down troops with ammunition during a firefight. The US Army currently is making use of GPS guided mortar shells known as Ammunition Resupply Projectile (ARP), which possesses the capability of resupplying 5.56mm 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 shall lead to a positive impact on the growth of the market.

Competitive Landscape
Various major players in the mortar ammunition market are Elbit Systems, Ltd., General Dynamics Corporation, Nexter Group, and Rheinmetall AG. In 2018, Saab AB reported that they have been chosen in competition for a mortar ammunition contract amongst various other vendors for 81mm 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 of new research laboratories shall lead to various players gaining traction in the market during the forecast period.

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