North America Mortar Systems Market Forecast to 2031
North America 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
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 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.
Summary Info
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According to Business Market Insights’ research, 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, registering a CAGR of 5.7% from 2023 to 2031. Deployment of self-propelled mortar systems and deployment of countermeasure systems are among the critical factors attributed to drive the North America mortar systems market growth.
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 howitzer 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 are expected to cater to the emerging needs for the customers in the coming years as well. Moreover, most 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 mortar systems market.
On the contrary, limited space for ammunitions in the towed mortar systems hamper the growth of North America mortar systems market.
Based on calibre, the North America mortar systems market is segmented into small calibre, medium calibre, and large calibre. The medium calibre segment held 47.3% market share in 2023, amassing US$ 358.07 million. It is projected to garner US$ 533.80 million by 2031 to register 5.1% CAGR during 2023-2031.
In terms of type, the North America mortar systems market is bifurcated into towed/hand-held and self-propelled. The self-propelled segment held 74.1% share of North America mortar systems market in 2023, amassing US$ 561.44 million. It is projected to garner US$ 899.12 million by 2031 to expand at 6.1% CAGR from 2023 to 2031.
Based on country, the North America mortar systems market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 71.3% share of North America mortar systems market in 2023. It was assessed at US$ 539.67 million in 2023 and is likely to hit US$ 860.92 million by 2031, registering a CAGR of 6.0% during 2023-2031.
Key players operating in the North America mortar systems market are General Dynamics Ordnance and Tactical Systems, Thales SA, Elbit Systems Ltd, Rheinmetall AG, RUAG Group, Northrop Grumman Corp, and Singapore Technologies Engineering Ltd, among others.
In October 2023, General Dynamics Ordnance and Tactical Systems (OTS), a business unit of General Dynamics announced it was awarded a $218 million initial task order for 155mm M1128 Load, Assemble, and Pack (LAP). The task order, awarded under a $974 million multiyear firm-fixed-price U.S. Army contract awarded to OTS and another company, includes funding for M1128 facilitization and production at OTS’s operations in Camden, Arkansas.
In September 2023, Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) (“Elbit Systems”) announced that its U.S. subsidiary, Elbit Systems of America LLC, (“Elbit Systems of America”), was awarded an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract with a maximum potential value of up to approximately $49 million, to provide 120mm mortar systems for the U.S. Army. The contract will be executed in Fort Worth, Texas over a period of five years. An initial delivery order of approximately $10 million has been issued under this ID/IQ contract, to be executed over a two-year period.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America mortar systems market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America mortar systems market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America Mortar Systems Market Landscape
4.1 Overview
4.2 Porter Five Forces Analysis
4.3 Ecosystem Analysis
5. North America Mortar Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Defense Spending
5.1.2 Rising Number of Contracts for Mortar Systems
5.2 Market Restraints
5.2.1 Limited Space for Ammunitions in the Towed Mortar Systems
5.3 Market Opportunities
5.3.1 Deployment of Countermeasure Systems
5.4 Future Trends
5.4.1 Deployment of Self-Propelled Mortar Systems
5.5 Impact of Drivers and Restraints:
6. Mortar Systems Market – North America Analysis
6.1 North America Mortar Systems Market Overview
6.2 Mortar Systems Market Revenue (US$ Million), 2021-2031
6.3 Mortar Systems Market Forecast Analysis
7. North America 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. North America 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. North America Mortar Systems Market – Country Analysis
9.1 North America
9.1.1 North America: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 North America: Mortar Systems Market – Revenue and Forecast Analysis – by Country
9.1.1.2 US: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 US: Mortar Systems Market Breakdown, by Calibre
9.1.1.2.2 US: Mortar Systems Market Breakdown, by Type
9.1.1.3 Canada: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Canada: Mortar Systems Market Breakdown, by Calibre
9.1.1.3.2 Canada: Mortar Systems Market Breakdown, by Type
9.1.1.4 Mexico: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 Mexico: Mortar Systems Market Breakdown, by Calibre
9.1.1.4.2 Mexico: 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 General Dynamics Ordnance and Tactical Systems
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 Thales SA
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 Elbit Systems Ltd
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 Rheinmetall AG
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 RUAG Group
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 Northrop Grumman Corp
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 Singapore Technologies Engineering Ltd
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
13. Appendix
13.1 About The Research Team
Table 1. North America 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. North America: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Country
Table 6. US: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Calibre
Table 7. US: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Type
Table 8. Canada: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Calibre
Table 9. Canada: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Type
Table 10. Mexico: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Calibre
Table 11. Mexico: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)2031 (US$ Million)- by Type
Table 12. Heat Map Analysis by Key Players
Figure 1. North America 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. North America Mortar Systems Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 15. North America: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 16. US: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Canada: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Mexico: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
The List of Companies – North America Mortar Systems Market
o General Dynamics Ordnance and Tactical Systems.
o Thales SA.
o Elbit Systems Ltd.
o Rheinmetall AG.
o RUAG Group.
o Northrop Grumman Corp.
o Singapore Technologies Engineering Ltd.
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