Report : Middle East & Africa Mortar Systems Market Forecast to 2031 - Regional Analysis - by Calibre (Small Calibre, Medium Calibre, and Large Calibre) and Type (Towed/Hand-Held, and Self-Propelled)
At 2.8% CAGR, Middle East & Africa Mortar Systems Market is Projected to be Worth US$ 261.52 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa mortar systems market was valued at US$ 209.21 million in 2023 and is anticipated to reach US$ 261.52 million by 2031, registering a CAGR of 2.8% from 2023 to 2031. Surging defense spending and deployment of countermeasure systems are among the critical factors attributed to drive the Middle East & Africa mortar systems market growth.
The evolving modern warfare scenario has compelled governments of various countries across the globe to assign significant funds and financial aid toward respective defense and military forces. The defense budget allocation supports the army and military forces to obtain enhanced technologies and equipment from domestic or international developers. On the other hand, military and army vehicle upgrades are on the rise owing to growing defense budget allocation. Furthermore, the increasing governmental expenditure showcases governments' focus on strengthening national security forces. There is an increased need to reinforce military and border security forces with advanced surveillance, communication, navigation equipment, artilleries, armaments, and vehicles, among others; hence, military forces worldwide are focusing on investing significant amounts in procuring artillery systems and other advanced technologies. Defense forces' constant inclination to acquire new technologies for noncombat and combat operations further boosts military expenditure worldwide.
As per the Stockholm International Peace Research Institute (SIPRI), global military expenditure increased to US$ 2,148 billion in 2022, representing a 3.5% increase from 2021. The US, China, India, Russia, and Saudi Arabia were the top five spenders in 2022, accounting for 63% of global expenditures. For instance, Saudi Arabia's military expenditure accounted to US$ 64,558.4 million, US$ 55,564.3 million, and US$ 75,013.3 million for the years 2020, 2021, and 2022, respectively.
The increasing military expenditure encourages incorporating advanced warfare technologies such as high-range antennas, self-propelled artillery, advanced communication devices, unmanned vehicles, radars, missile detection systems, surveillance and navigation systems, and modern warfare technologies. In addition, a high military budget supports the countries in assigning resources for the advancement and upgrade of their existing air, ground-based, and naval defense systems.
On the contrary, limited space for ammunitions in the towed mortar systems hampers the growth of Middle East & Africa mortar systems market.
Based on calibre, the Middle East & Africa mortar systems market is segmented into small calibre, medium calibre, and large calibre. The medium calibre segment held 47.0% market share in 2023, amassing US$ 98.40 million. It is projected to garner US$ 117.05 million by 2031 to register 2.2% CAGR during 2023-2031.
In terms of type, the Middle East & Africa mortar systems market is bifurcated into towed/hand-held and self-propelled. The self-propelled segment held 70.7% share of Middle East & Africa mortar systems market in 2023, amassing US$ 147.98 million. It is projected to garner US$ 190.31 million by 2031 to expand at 3.2% CAGR from 2023 to 2031.
Based on country, the Middle East & Africa mortar systems market is categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East and Africa captured 43.8% share of Middle East & Africa mortar systems market in 2023. It was assessed at US$ 91.62 million in 2023 and is likely to hit US$ 122.19 million by 2031, registering a CAGR of 3.7% during 2023-2031.
Key players operating in the Middle East & Africa mortar systems market are Thales SA, Elbit Systems Ltd, Rheinmetall AG, Northrop Grumman Corp, and Singapore Technologies Engineering Ltd, among others.
- In November 2023, Rheinmetall has received an order from the German government to supply Ukraine with around 100,000 rounds of 120mm mortar ammunition. The order, worth a figure in the lower-three-digit million-euro range, forms part of a recent 400 million military aid package for the Ukrainian armed forces. Delivery is due to begin shortly and extend over the next two years.
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