North America Mortar Systems Market

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Analysis - by Calibre (Small Calibre, Medium Calibre, and Large Calibre) and Type (Towed/Hand-Held, and Self-Propelled)

No. of Pages: 79    |    Report Code: BMIRE00030852    |    Category: Aerospace and Defense

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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; it is estimated to record a CAGR of 5.7% from 2023 to 2031.

Surging Defense Spending Fuels North America Mortar Systems Market



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, the US military expenditure accounted to US$ 778,397.2 million, US$ 800,672.2 million, and US$ 876,943.2 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.

North America Mortar Systems Market Overview



In North America, military expenditure is significantly increasing due to rising geopolitical tension. According to the Stockholm International Peace Research Institute (SIPRI), the military expenditure of the region was US$ 809.723.4 million in 2020; it increased to US$ 840.273.3 million in 2021 and reached US$ 912.375.03 million in 2022. Increased budgets allow for the incorporation of cutting-edge technologies into artillery systems. This might include improvements in communication systems, targeting capabilities, and the development of precision-guided munitions, making artillery more sophisticated and effective. For instance, in July 2023, OKSI secured a follow-on contract valued at US$ 2 million from the United States Special Operations Command (USSOCOM) to finalize the development of their Precision Guidance Kit (PGK) designed for the 81 mm mortar round. The innovative screw-on 81 mm PGK technology is poised to empower warfighters by enabling precise guidance of mortars toward specific impact points or predetermined targets. This advancement in mortar technology allows for the transformation of a historically less accurate area weapon into a precision munition, ensuring first-round effects.

The Ukraine-Russia conflict has contributed to the growth of the mortar systems market in North America. While North America, primarily the US and Canada, is not directly involved in the conflict, several factors influence the regional military equipment market landscape. North American nations, particularly the United States, have provided military support to Ukraine in response to the conflict. This support often includes the supply of advanced weaponry, possibly contributing to an increase in demand for military hardware, including artillery systems. The conflict reinforces the importance of strategic alliances and partnerships among North American nations and their allies. Collaborative defense efforts may involve joint development programs or the exchange of military technologies, impacting the mortar systems market. For instance, in December 2022, Lockheed Martin secured a new Pentagon contract as part of President Joe Biden's latest Ukraine security package. This contract was valued at US$ 430.9 million. It is expected to boost the production of rocket launchers and precision-guided missiles at Lockheed Martin's extensive manufacturing facility in East Camden, Arkansas. The contract specifically focuses on scaling up the production of High Mobility Artillery Rocket Systems (HIMARS) M142 launchers, a pivotal component that has proven to be a strategic asset in the ongoing conflict in Ukraine. Similarly, in April 2022, Canada played a vital role in reinforcing Ukraine's security forces by supplying M777 howitzers and accompanying ammunition. This collaborative effort, conducted in partnership with American Allies, involved the utilization of equipment from the inventory of the Canadian Armed Forces. The provision of M777 howitzers and ammunition is part of a substantial support initiative aimed at addressing the persisting security challenges in the region.

North America Mortar Systems Market Revenue and Forecast to 2031 (US$ Million)

North America Mortar Systems Market Revenue and Forecast to 2031 (US$ Million)
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North America Mortar Systems Strategic Insights

Strategic insights for the North America Mortar Systems provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America Mortar Systems Report Scope

Report Attribute Details
Market size in 2023 US$ 757.36 Million
Market Size by 2031 US$ 1,177.64 Million
Global CAGR (2023 - 2031) 5.7%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Calibre
  • Small Calibre
  • Medium Calibre
  • Large Calibre
By Type
  • Towed/Hand-Held
  • Self-Propelled
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Market leaders and key company profiles
  • General Dynamics Ordnance and Tactical Systems.
  • Thales SA.
  • Elbit Systems Ltd.
  • Rheinmetall AG.
  • RUAG Group.
  • Northrop Grumman Corp.
  • Singapore Technologies Engineering Ltd.
    		•
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    North America Mortar Systems Regional Insights

    The geographic scope of the North America Mortar Systems refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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    North America Mortar Systems Market Segmentation



    The North America mortar systems market is categorized into calibre, type, and country.

    Based on calibre, the North America mortar systems market is segmented into small calibre, medium calibre, and large calibre. The medium calibre segment held the largest market share in 2023.

    In terms of type, the North America mortar systems market is bifurcated into towed/hand-held and self-propelled. The self-propelled segment held a larger market share in 2023.

    By country, the North America mortar systems market is segmented into the US, Canada, and Mexico. The US dominated the North America mortar systems market share in 2023.

    General Dynamics Ordnance and Tactical Systems, Thales SA, Elbit Systems Ltd, Rheinmetall AG, RUAG Group, Northrop Grumman Corp, and Singapore Technologies Engineering Ltd are some of the leading companies operating in the North America mortar systems market.

    Identical Market Reports with other Region/Countries

    The List of Companies - North America Mortar Systems Market

    1. General Dynamics Ordnance and Tactical Systems.
    2. Thales SA.
    3. Elbit Systems Ltd.
    4. Rheinmetall AG.
    5. RUAG Group.
    6. Northrop Grumman Corp.
    7. Singapore Technologies Engineering Ltd.
    Frequently Asked Questions
    How big is the North America Mortar Systems Market?

    The North America Mortar Systems Market is valued at US$ 757.36 Million in 2023, it is projected to reach US$ 1,177.64 Million by 2031.

    What is the CAGR for North America Mortar Systems Market by (2023 - 2031)?

    As per our report North America Mortar Systems Market, the market size is valued at US$ 757.36 Million in 2023, projecting it to reach US$ 1,177.64 Million by 2031. This translates to a CAGR of approximately 5.7% during the forecast period.

    What segments are covered in this report?

    The North America Mortar Systems Market report typically cover these key segments-

    • Calibre (Small Calibre, Medium Calibre, Large Calibre)
    • Type (Towed/Hand-Held, Self-Propelled)

    What is the historic period, base year, and forecast period taken for North America Mortar Systems Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Mortar Systems Market report:

  • Historic Period : 2021-2022
  • Base Year : 2023
  • Forecast Period : 2024-2031
    • Who are the major players in North America Mortar Systems Market?

    The North America Mortar Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • General Dynamics Ordnance and Tactical Systems.
  • Thales SA.
  • Elbit Systems Ltd.
  • Rheinmetall AG.
  • RUAG Group.
  • Northrop Grumman Corp.
  • Singapore Technologies Engineering Ltd.
    • Who should buy this report?

    The North America Mortar Systems Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the North America Mortar Systems Market value chain can benefit from the information contained in a comprehensive market report.

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