According to our latest market study on "Mortar Systems Market Forecast to 2030 - Global Analysis - by Calibre, Type, and Geography," the market was valued at US$ 2.30 billion in 2022, and it is expected to reach US$ 3.54 billion by 2030; it is anticipated to register a CAGR of 5.5% from 2022 to 2030.

Significant insights drawn from the prolonged Ukraine conflict, as of September 2023 spanning 570 days, have left a lasting impact on the Indian Army's strategic vision for enhancing firepower. The lessons learned are steering the army's focus toward greater mobility, precision attacks, extended range, swift strikes, and enhanced survivability. This shift aligns with India's heightened efforts to procure a diverse range of weaponry, encompassing guns, rocket systems, and missiles. The evolving priorities in India's artillery modernization reflect the APAC mortar systems market trend as regional forces adopt strategies based on current geopolitical challenges and warfare dynamics.

In September 2023, the Indian Army set forth a proposal amounting to INR 6,000 crore for the procurement of next-generation guns, emphasizing their development and manufacturing by domestic companies. These cutting-edge weapons are envisioned to serve as a cornerstone in bolstering the artillery force of the Indian Army. The initiative aligns with broader APAC mortar systems market trends, emphasizing a shift toward indigenous development and modernization efforts among regional armed forces.

The APAC mortar systems market share is characterized by a confluence of geopolitical, technological, and strategic factors. The region's commitment to military modernization, combined with a focus on indigenous capabilities and collaborative defense initiatives, positions APAC as a pivotal player in the global artillery systems landscape.

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 mortar systems 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 is expected to cater the emerging needs for the customers in the coming years as well. Moreover, the majority 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 artillery systems market.

A few major contracts for mortar systems are mentioned below:

- In September 2022, Elbit Systems of America won a contract worth US$ 10 million for the supply of 120mm mortar systems for the US army.

- In January 2022, Rheinmetall won a contract from the Bundeswehr, Germany's federal armed forces, to upgrade its 120mm mortar systems and supply ammunition.

- In September 2023, Elbit Systems UK won contract by the UK Ministry of Defence to develop and provide artillery and mortar training simulators.

Key Findings of Market Study:

The mortar systems market has been segmented on the basis of calibre, type, and geography. Based on caliber, the mortar systems market has been segmented into small caliber, medium caliber, and large caliber. Based on type, the mortar systems market has been segmented into towed/hand-held and self-propelled mortars. On the basis of geography, the mortar systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.


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