Middle East & Africa Mortar Systems Market Forecast to 2031

At 2.8% CAGR, Middle East & Africa Mortar Systems Market is Speculated to be Worth US$ 261.52 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa mortar systems market was valued at US$ 209.21 million in 2023 and is anticipated to reach US$ 261.52 million by 2031, registering a CAGR of 2.8% from 2023 to 2031. Surging defense spending and deployment of countermeasure systems are among the critical factors attributed to drive the Middle East & Africa mortar systems market growth.

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, Saudi Arabia’s military expenditure accounted to US$ 64,558.4 million, US$ 55,564.3 million, and US$ 75,013.3 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.

On the contrary, limited space for ammunitions in the towed mortar systems hampers the growth of Middle East & Africa mortar systems market.

Based on calibre, the Middle East & Africa mortar systems market is segmented into small calibre, medium calibre, and large calibre. The medium calibre segment held 47.0% market share in 2023, amassing US$ 98.40 million. It is projected to garner US$ 117.05 million by 2031 to register 2.2% CAGR during 2023-2031.

In terms of type, the Middle East & Africa mortar systems market is bifurcated into towed/hand-held and self-propelled. The self-propelled segment held 70.7% share of Middle East & Africa mortar systems market in 2023, amassing US$ 147.98 million. It is projected to garner US$ 190.31 million by 2031 to expand at 3.2% CAGR from 2023 to 2031.

Based on country, the Middle East & Africa mortar systems market is categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East and Africa captured 43.8% share of Middle East & Africa mortar systems market in 2023. It was assessed at US$ 91.62 million in 2023 and is likely to hit US$ 122.19 million by 2031, registering a CAGR of 3.7% during 2023-2031.

Key players operating in the Middle East & Africa mortar systems market are Thales SA, Elbit Systems Ltd, Rheinmetall AG, Northrop Grumman Corp, and Singapore Technologies Engineering Ltd, among others.

In November 2023, Rheinmetall has received an order from the German government to supply Ukraine with around 100,000 rounds of 120mm mortar ammunition. The order, worth a figure in the lower-three-digit million-euro range, forms part of a recent 400 million military aid package for the Ukrainian armed forces. Delivery is due to begin shortly and extend over the next two years.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa mortar systems market.
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 Middle East & Africa 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 Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa 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.

TABLE OF CONTENTS

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. Middle East & Africa Mortar Systems Market Landscape
4.1 Overview
4.2 Porter Five Forces Analysis
4.3 Ecosystem Analysis
5. Middle East & Africa 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 – Middle East & Africa Analysis
6.1 Middle East & Africa Mortar Systems Market Overview
6.2 Mortar Systems Market Revenue (US$ Million), 2021-2031
6.3 Mortar Systems Market Forecast Analysis
7. Middle East & Africa 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. Middle East & Africa 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. Middle East & Africa Mortar Systems Market – Country Analysis
9.1 Middle East & Africa
9.1.1 Middle East and Africa: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 Middle East and Africa: Mortar Systems Market – Revenue and Forecast Analysis – by Country
9.1.1.2 Saudi Arabia: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 Saudi Arabia: Mortar Systems Market Breakdown, by Calibre
9.1.1.2.2 Saudi Arabia: Mortar Systems Market Breakdown, by Type
9.1.1.3 UAE: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 UAE: Mortar Systems Market Breakdown, by Calibre
9.1.1.3.2 UAE: Mortar Systems Market Breakdown, by Type
9.1.1.4 South Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 South Africa: Mortar Systems Market Breakdown, by Calibre
9.1.1.4.2 South Africa: Mortar Systems Market Breakdown, by Type
9.1.1.5 Rest of Middle East and Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 Rest of Middle East and Africa: Mortar Systems Market Breakdown, by Calibre
9.1.1.5.2 Rest of Middle East and Africa: 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 Northrop Grumman Corp
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 Singapore Technologies Engineering Ltd
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
13. Appendix
13.1 About The Research Team

LIST OF TABLES

Table 1. Middle East & Africa 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. Middle East and Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 6. Saudi Arabia: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 7. Saudi Arabia: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 8. UAE: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 9. UAE: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 10. South Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 11. South Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 12. Rest of Middle East and Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 13. Rest of Middle East and Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Heat Map Analysis by Key Players

LIST OF FIGURES

Figure 1. Middle East & Africa 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. Middle East & Africa Mortar Systems Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 15. Middle East and Africa: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 16. Saudi Arabia: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. UAE: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. South Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Rest of Middle East and Africa: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)