According to a new research study published by The Insight Partners, titled “Mortar Systems Market Forecast to 2031 – Global Analysis by Caliber, Type, and Geography,” the global mortar systems market size was valued at USD 2.30 billion in 2023 and is projected to reach USD 3.54 billion by 2031, growing at a CAGR of 5.5% during the forecast period 2023–2031.

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Market Overview

The global mortar systems market is witnessing consistent growth driven by rising defense budgets, modernization of armed forces, and the adoption of advanced, modular, and self-propelled mortar systems. Military forces worldwide are focusing on enhancing mobility, precision, and integration with digital command and control systems, fueling market demand.

Key Growth Drivers

  • Rising Defence Expenditure: Global military spending reached over USD 2,148 billion in 2022, enabling increased procurement of modern indirect-fire systems.
  • Shift Toward Self-Propelled Systems: Nations are prioritizing mobility and rapid deployment, leading to growing adoption of vehicle-mounted mortar platforms.
  • Technological Innovations: Precision-guided munitions, digital fire-control, and C4ISR-integrated mortar systems are transforming traditional artillery operations.
  • Geographical Expansion: Asia-Pacific is emerging as the fastest-growing regional market, while North America continues to hold a leading share.

Market Segmentation

By Caliber:

  • Small Caliber
  • Medium Caliber (largest share in 2022)
  • Large Caliber

By Type:

  • Towed/Hand-Held
  • Self-Propelled (dominant and fastest-growing segment)

By Geography:
North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Key Players

Prominent players profiled in the report include:

·         Hirtenberger Defence Systems

  • General Dynamics Ordnance and Tactical Systems
  • Thales
  • Elbit Systems Ltd
  • Rheinmetall AG
  • Raytheon Technologies Corporation
  • RUAG Group
  • Northrop Grumman Corporation
  • ST Engineering
  • Arquus

These companies are investing in R&D, forming partnerships with defense ministries, and expanding geographically to strengthen their market presence.

Strategic Insights

The report highlights several strategic growth opportunities for market participants:

  1. Product innovation through modular, precision-enabled designs.
  2. Expansion into emerging markets via local partnerships.
  3. Offering lifecycle support, training, and upgrade services.
  4. Enhancing cost-efficiency and supply chain resilience.

Market Outlook

While procurement cycles and budget scrutiny present challenges, the long-term outlook remains positive. Increasing demand for medium-caliber and self-propelled systems, coupled with Asia-Pacific’s defense modernization, is expected to sustain growth through 2031.

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About The Insight Partners

The Insight Partners is a one-stop industry research provider offering actionable intelligence to help clients make informed business decisions. We specialize in syndicated and custom research across multiple industries including defense, aerospace, technology, and manufacturing.

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The Insight Partners
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