Asia Pacific Mortar Systems Market Forecast to 2031
Asia Pacific 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)
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Description
Deployment of Countermeasure Systems Fuels Asia Pacific 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.
Asia Pacific Mortar Systems Market Overview
Upgrades and acquisitions of advanced artillery systems are integral components to enhance defense capabilities. Several APAC nations, including China, India, and Australia, are actively investing in military modernization and increasing their defense budgets. This rise in spending allows for the procurement of advanced artillery technologies for military readiness. In 2020, the military expenditure was US$ 497.4 billion, which increased to US$ 549.7 billion in 2021. In 2022, Asia Pacific’s military expenditure was US$ 541.5 billion. In 2022, China dominated in terms of military expenditure, followed by India and South Korea. The majority of military expenditure is dedicated to meeting the requirement for advanced equipment, devices, aircraft, ships, and armored vehicles during modern war.
Heightened geopolitical tensions in the region, particularly in the South China Sea and the Korean Peninsula, have led to increased focus on strengthening military capabilities. This includes the acquisition of sophisticated artillery systems for strategic deterrence. In December 2023, Rob Phillips, spokesperson for the US Army Pacific, announced the US military’s intention to deploy land-based intermediate-range missiles in APAC in the coming year. This strategic move represents the first potential deployment of such weapons in the region since the US withdrew from the Intermediate-Range Nuclear Forces (INF) Treaty in 2019. This development underscores the evolving dynamics of the APAC mortar systems market, as geopolitical factors influence military strategies and deployments in the region. The deployment of intermediate-range missiles could contribute to shaping the landscape of artillery systems in the APAC market.
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 broader trends in the APAC mortar systems market 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 trends in the APAC mortar systems market, emphasizing a shift toward indigenous development and modernization efforts among regional armed forces.
The APAC mortar systems market 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.
Asia Pacific Mortar Systems Market Revenue and Forecast to 2031 (US$ Million)
Asia Pacific Mortar Systems Market Segmentation
The Asia Pacific mortar systems market is categorized into calibre, type, and country.
Based on calibre, the Asia Pacific 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 Asia Pacific 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 Asia Pacific mortar systems market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific mortar systems market share in 2023.
Thales SA, Elbit Systems Ltd, Rheinmetall AG, RUAG Group, Northrop Grumman Corp, Singapore Technologies Engineering Ltd, Hanwha Corp, and Hirtenberger Defence Asia Pacific GmbH are some of the leading companies operating in the Asia Pacific mortar systems market.
Summary Info
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According to Business Market Insights’ research, the Asia Pacific mortar systems market was valued at US$ 587.73 million in 2023 and is anticipated to reach US$ 1,088.58 million by 2031, registering a CAGR of 8.0% from 2023 to 2031. Rising number of contracts for mortar systems and deployment of countermeasure systems are among the critical factors attributed to drive the Asia Pacific mortar systems market growth.
Manufacturers operating in the mortar systems market strongly focus on collaborating with different governments and armed forces to comprehend their respective demands and offer them suitable solutions. The military forces of various countries are providing numerous contracts to artillery systems manufacturers to procure several communication, surveillance, and navigation systems. Moreover, the defense forces of different nations are investing substantially in procuring artillery systems such as rocket artillery, mortars, and howitzers. Artillery systems are reliable for taking down short, medium, and long-range targets. They enable armed forces to facilitate enhanced remote firing on ground or naval platforms.
The majority of the countries’ armed forces have been investing heavily in the procurement of mortar systems. A few examples are mentioned below:
2024: According to the UK manufacturer Milanion NTGS, the Indian Army will receive its Vehicle Mounted Infantry Mortar System by the end of 2024. Mahindra Defence from India secured the contract to supply these systems. The exact number of units remains undisclosed.
In December 2022, Hanwha Aerospace signed a contract with the South Korean Defense Acquisition Program Administration (DAPA) to mass-produce the Skyfall 120mm Self-Propelled Mortar (SPM) systems and fire command vehicles for the Korean Army.
The growing number of contracts and deals to procure advanced military forces to combat the rise in ground warfare attacks is acting as a major growth factor for the mortar systems market size globally.
On the contrary, limited space for ammunitions in the towed mortar systems hamper the growth of Asia Pacific mortar systems market.
Based on calibre, the Asia Pacific mortar systems market is segmented into small calibre, medium calibre, and large calibre. The medium calibre segment held 46.8% market share in 2023, amassing US$ 274.92 million. It is projected to garner US$ 486.56 million by 2031 to register 7.4% CAGR during 2023–2031.
In terms of type, the Asia Pacific mortar systems market is bifurcated into towed/hand-held and self-propelled. The self-propelled segment held 69.3% share of Asia Pacific mortar systems market in 2023, amassing US$ 407.39 million. It is projected to garner US$ 788.38 million by 2031 to expand at 8.6% CAGR from 2023 to 2031.
Based on country, the Asia Pacific mortar systems market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.2% share of Asia Pacific mortar systems market in 2023. It was assessed at US$ 212.74 million in 2023 and is likely to hit US$ 397.85 million by 2031, registering a CAGR of 8.1% during 2023–2031.
Key players operating in the Asia Pacific mortar systems market are Thales SA, Elbit Systems Ltd, Rheinmetall AG, RUAG Group, Northrop Grumman Corp, Singapore Technologies Engineering Ltd, Hanwha Corp, and Hirtenberger Defence Asia Pacific GmbH, among others.
In June 2022, Arquus, Thales and NTGS have officially presented the new Sherpa A2M (Advanced Mobile Mortar), during a ceremony organized on Arquus’ booth at Eurosatory 2022.
The alliance of Arquus, NTGS and Thales allows the application of a truly complete solution delivering a unique indirect fire support solution, suitable for infantry support, collaborative armed forces troops and Special Forces, as well as autonomous artillery units looking for a high level of mobility and protection. The Sherpa A2M is an adequate answer to the tactical challenges met and created by artillery in the high-intensity warfare: mobility, protection, close support to the troops on the ground and mobile counter-battery options at the fraction of the price of a Self-Propelled Gun (SPG).
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific mortar systems market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific mortar systems market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Asia Pacific Mortar Systems Market Landscape
4.1 Overview
4.2 Porter Five Forces Analysis
4.3 Ecosystem Analysis
5. Asia Pacific Mortar Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Defense Spending
5.1.2 Rising Number of Contracts for Mortar Systems
5.2 Market Restraints
5.2.1 Limited Space for Ammunitions in the Towed Mortar Systems
5.3 Market Opportunities
5.3.1 Deployment of Countermeasure Systems
5.4 Future Trends
5.4.1 Deployment of Self-Propelled Mortar Systems
5.5 Impact of Drivers and Restraints:
6. Mortar Systems Market – Asia Pacific Analysis
6.1 Asia Pacific Mortar Systems Market Overview
6.2 Mortar Systems Market Revenue (US$ Million), 2021-2031
6.3 Mortar Systems Market Forecast Analysis
7. Asia Pacific Mortar Systems Market Analysis – by Calibre
7.1 Small Calibre
7.1.1 Overview
7.1.2 Small Calibre: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Medium Calibre
7.2.1 Overview
7.2.2 Medium Calibre: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Large Calibre
7.3.1 Overview
7.3.2 Large Calibre: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
8. Asia Pacific Mortar Systems Market Analysis – by Type
8.1 Towed/Hand-Held
8.1.1 Overview
8.1.2 Towed/Hand-Held: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Self-Propelled
8.2.1 Overview
8.2.2 Self-Propelled: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9. Asia Pacific Mortar Systems Market – Country Analysis
9.1 Asia Pacific
9.1.1 Asia Pacific: Mortar Systems Market – Revenue and Forecast Analysis – by Country
9.1.1.1 Asia Pacific: Mortar Systems Market – Revenue and Forecast Analysis – by Country
9.1.1.2 Australia: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 Australia: Mortar Systems Market Breakdown, by Calibre
9.1.1.2.2 Australia: Mortar Systems Market Breakdown, by Type
9.1.1.3 China: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 China: Mortar Systems Market Breakdown, by Calibre
9.1.1.3.2 China: Mortar Systems Market Breakdown, by Type
9.1.1.4 India: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 India: Mortar Systems Market Breakdown, by Calibre
9.1.1.4.2 India: Mortar Systems Market Breakdown, by Type
9.1.1.5 Japan: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Japan: Mortar Systems Market Breakdown, by Calibre
9.1.1.5.2 Japan: Mortar Systems Market Breakdown, by Type
9.1.1.6 South Korea: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 South Korea: Mortar Systems Market Breakdown, by Calibre
9.1.1.6.2 South Korea: Mortar Systems Market Breakdown, by Type
9.1.1.7 Rest of Asia Pacific: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.7.1 Rest of Asia Pacific: Mortar Systems Market Breakdown, by Calibre
9.1.1.7.2 Rest of Asia Pacific: Mortar Systems Market Breakdown, by Type
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Thales SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Elbit Systems Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Rheinmetall AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 RUAG Group
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Northrop Grumman Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Singapore Technologies Engineering Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Hanwha Corp
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Hirtenberger Defence Europe GmbH
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Research Team
Table 1. Asia Pacific Mortar Systems Market Segmentation
Table 2. Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Table 3. Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 4. Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. Asia Pacific: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 6. Australia: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Calibre
Table 7. Australia: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 8. China: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Calibre
Table 9. China: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 10. India: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Calibre
Table 11. India: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 12. Japan: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Calibre
Table 13. Japan: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 14. South Korea: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Calibre
Table 15. South Korea: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 16. Rest of Asia Pacific: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Calibre
Table 17. Rest of Asia Pacific: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 18. Heat Map Analysis by Key Players
Figure 1. Asia Pacific Mortar Systems Market Segmentation, by Country
Figure 2. Porter Analysis
Figure 3. Ecosystem Analysis
Figure 4. Mortar Systems Market – Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Mortar Systems Market Revenue (US$ Million), 2021-2031
Figure 7. Mortar Systems Market Share (%) – by Calibre (2023 and 2031)
Figure 8. Small Calibre: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Medium Calibre: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Large Calibre: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Mortar Systems Market Share (%) – by Type (2023 and 2031)
Figure 12. Towed/Hand-Held: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Self-Propelled: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Asia Pacific Mortar Systems Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 15. Asia Pacific: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 16. Australia: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million)
Figure 17. China: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million)
Figure 18. India: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million)
Figure 19. Japan: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million)
Figure 20. South Korea: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million)
Figure 21. Rest of Asia Pacific: Mortar Systems Market – Revenue and Forecast to 2031(US$ Million)
The List of Companies – Asia Pacific Mortar Systems Market
o Thales SA.
o Elbit Systems Ltd.
o Rheinmetall AG.
o RUAG Group.
o Northrop Grumman Corp.
o Singapore Technologies Engineering Ltd.
o Hanwha Corp
o Hirtenberger Defence Europe GmbH
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