South & Central 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: 60    |    Report Code: BMIRE00030853    |    Category: Aerospace and Defense

Available Report Formats

pdf-format excel-format pptx-format
Buy Now
South & Central America Mortar Systems Market
Free Sample Buy Now

The South & Central America mortar systems market was valued at US$ 150.30 million in 2023 and is anticipated to reach US$ 172.96 million by 2031; it is estimated to record a CAGR of 1.8% from 2023 to 2031.

Deployment of Countermeasure Systems Fuels South & Central America Mortar Systems Market



The changing geopolitical scenario worldwide boosts the requirement for strong defense countermeasure systems. The constant tension between the nations such as Russia-Ukraine, India-China, Pakistan-India, Israel-Palestine, and US-China is compelling their governments to strengthen their respective armed forces, which is also propelling the procurement of warfare systems such as different types of mortars and howitzers. Hence, the armed forces across different countries are investing in procuring artillery systems such as surface-to-air rocket artillery, self-propelled howitzers, early warning systems, and border surveillance systems. BAE Systems, General Dynamics Corporation, Honeywell International Inc., Israel Aerospace Industries Inc., Leonardo S.p.A, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group are among the companies focusing on developing defense countermeasure systems, including radar systems, artillery systems, communication and surveillance systems, and navigation devices. Thus, the increasing procurement and deployment of countermeasure systems is expected to fuel the growth of the mortar systems market in the coming years.

South & Central America Mortar Systems Market Overview



The SAM mortar systems market is bifurcated into Brazil and the Rest of SAM. Governments of various countries in SAM have increased their military spending to establish a sustainable and robust defense sector. According to the Stockholm International Peace Research Institute (SIPRI), the military expenditure of SAM was US$ 44,317.9 million in 2020, which increased to US$ 45,879.8 million in 2021 and reached US$ 46,097.0 million in 2022. Many countries in SAM have aging military equipment and outdated defense systems. The increasing defense budget allows for the modernization of military forces, including the procurement of advanced weaponry, artillery systems, and communication technologies. The increase in military expenditures in SAM is significantly driving the mortar systems market. Nations committing funds to procure advanced artillery demonstrate a commitment to strengthening their military capabilities, which, in turn, fuels market growth. For instance, in October 2023, Avibras secured a contract with the Brazilian Army (EB) for the delivery of a batch of 70 mm Skyfire rockets, reinforcing the strong collaboration between Avibras and the military institution. The SKYFIRE rockets form a part of Avibras' extensive portfolio of high-value-added products, serving dual purposes as axial armament for aircraft (air-surface) and as an area saturation system (surface-surface). Acknowledged for their high performance, these rockets are versatile and can be deployed across a spectrum of aircraft, ranging from helicopters to high-performance jets. The 70 mm caliber rockets, along with their airborne multiple launchers, cater to various applications, showcasing their adaptability and effectiveness in meeting diverse military requirements. Military procurement often involves strategic alliances and partnerships. Collaborative efforts between nations in SAM and international defense suppliers can lead to the exchange of technology, expertise, and joint development programs, contributing to the growth of the military mortar systems market.

South & Central America Mortar Systems Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Mortar Systems Market Revenue and Forecast to 2031 (US$ Million)
Get more information on this report

South & Central America Mortar Systems Strategic Insights

Strategic insights for the South & Central 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.

strategic-framework/south-and-central-america-mortar-systems-market-strategic-framework.webp
Get more information on this report

South & Central America Mortar Systems Report Scope

Report Attribute Details
Market size in 2023 US$ 150.30 Million
Market Size by 2031 US$ 172.96 Million
Global CAGR (2023 - 2031) 1.8%
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 South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Market leaders and key company profiles
  • Thales SA.
  • Elbit Systems Ltd.
  • Rheinmetall AG.
  • Northrop Grumman Corp.
    		•
    Get more information on this report

    South & Central America Mortar Systems Regional Insights

    The geographic scope of the South & Central 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.

    geography/south-and-central-america-mortar-systems-market-geography.webp
    Get more information on this report

    South & Central America Mortar Systems Market Segmentation 



    The South & Central America mortar systems market is categorized into calibre, type, and country.

    Based on calibre, the South & Central 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 South & Central 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 South & Central America mortar systems market is segmented into Brazil and the Rest of South & Central America. Brazil dominated the South & Central America mortar systems market share in 2023.

    Thales SA, Elbit Systems Ltd, Rheinmetall AG, and Northrop Grumman Corp are some of the leading companies operating in the South & Central America mortar systems market.

    Identical Market Reports with other Region/Countries

    The List of Companies - South & Central America Mortar Systems Market

    1. Thales SA.
    2. Elbit Systems Ltd.
    3. Rheinmetall AG.
    4. Northrop Grumman Corp.
    Frequently Asked Questions
    How big is the South & Central America Mortar Systems Market?

    The South & Central America Mortar Systems Market is valued at US$ 150.30 Million in 2023, it is projected to reach US$ 172.96 Million by 2031.

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

    As per our report South & Central America Mortar Systems Market, the market size is valued at US$ 150.30 Million in 2023, projecting it to reach US$ 172.96 Million by 2031. This translates to a CAGR of approximately 1.8% during the forecast period.

    What segments are covered in this report?

    The South & Central 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 South & Central 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 South & Central America Mortar Systems Market report:

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

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

  • Thales SA.
  • Elbit Systems Ltd.
  • Rheinmetall AG.
  • Northrop Grumman Corp.
    • Who should buy this report?

    The South & Central 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 South & Central America Mortar Systems Market value chain can benefit from the information contained in a comprehensive market report.

    south-and-central-america-mortar-systems-market