Report : North America 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 5.7% CAGR, North America Mortar Systems Market is Projected to be Worth US$ 1,177.64 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the North America mortar systems market was valued at US$ 757.36 million in 2023 and is anticipated to reach US$ 1,177.64 million by 2031, registering a CAGR of 5.7% from 2023 to 2031. Deployment of self-propelled mortar systems and deployment of countermeasure systems are among the critical factors attributed to drive the North America mortar systems market growth.
The increasing application of unmanned systems for various purposes, including weapon delivery, surveillance, or detection, boosts the demand for self-propelled artillery systems. The increasing adoption of self-propelled artillery systems reduces the logistics and transportation challenges faced while moving any artillery system. Self-propelled artillery systems allow for the reduction of the operational manpower required to operate any artillery systems such as howitzer or rocket artilleries.
Many companies have already developed self-propelled artillery systems to provide their customers with reliable and desired mission solutions to remain competitive in the highly competitive marketplace. For instance, in 2021, Czech company EXCALIBUR ARMY announced the launch of its DITA 155 mm wheeled self-propelled howitzer system at IDEX 2021. Similarly, many other companies have been collaboratively working for the development and advancements in the self-propelled artillery systems that are expected to cater to the emerging needs for the customers in the coming years as well. Moreover, most of the companies are pushing their investments in terms of procurement of self-propelled howitzer systems. For instance, in November 2023, BAE Systems Plc won a contract worth US$ 63 million to produce self-propelled Paladin howitzers and ammunition carrier vehicles from the US military. Hence, the increase in the deployment of self-propelled artillery systems is anticipated to be a trend in the mortar systems market.
On the contrary, limited space for ammunitions in the towed mortar systems hamper the growth of North America mortar systems market.
Based on calibre, the North America mortar systems market is segmented into small calibre, medium calibre, and large calibre. The medium calibre segment held 47.3% market share in 2023, amassing US$ 358.07 million. It is projected to garner US$ 533.80 million by 2031 to register 5.1% CAGR during 2023-2031.
In terms of type, the North America mortar systems market is bifurcated into towed/hand-held and self-propelled. The self-propelled segment held 74.1% share of North America mortar systems market in 2023, amassing US$ 561.44 million. It is projected to garner US$ 899.12 million by 2031 to expand at 6.1% CAGR from 2023 to 2031.
Based on country, the North America mortar systems market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 71.3% share of North America mortar systems market in 2023. It was assessed at US$ 539.67 million in 2023 and is likely to hit US$ 860.92 million by 2031, registering a CAGR of 6.0% during 2023-2031.
Key players operating in the North America mortar systems market are General Dynamics Ordnance and Tactical Systems, Thales SA, Elbit Systems Ltd, Rheinmetall AG, RUAG Group, Northrop Grumman Corp, and Singapore Technologies Engineering Ltd, among others.
- In October 2023, General Dynamics Ordnance and Tactical Systems (OTS), a business unit of General Dynamics announced it was awarded a $218 million initial task order for 155mm M1128 Load, Assemble, and Pack (LAP). The task order, awarded under a $974 million multiyear firm-fixed-price U.S. Army contract awarded to OTS and another company, includes funding for M1128 facilitization and production at OTS's operations in Camden, Arkansas.
- In September 2023, Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) ("Elbit Systems") announced that its U.S. subsidiary, Elbit Systems of America LLC, ("Elbit Systems of America"), was awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract with a maximum potential value of up to approximately $49 million, to provide 120mm mortar systems for the U.S. Army. The contract will be executed in Fort Worth, Texas over a period of five years. An initial delivery order of approximately $10 million has been issued under this ID/IQ contract, to be executed over a two-year period.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com