South & Central America Mortar Systems Market Forecast to 2031

At 1.8% CAGR, South & Central America Mortar Systems Market is Speculated to be Worth US$ 172.96 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, 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, registering a CAGR of 1.8% from 2023 to 2031. Deployment of self-propelled mortar systems and deployment of counter measure systems are among the critical factors attributed to drive the South & Central 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 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. 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 hampers the growth of South & Central America mortar systems market.

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 45.3% market share in 2023, amassing US$ 68.01 million. It is projected to garner US$ 77.08 million by 2031 to register 1.6% CAGR during 2023-2031.

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 68.9% share of South & Central America mortar systems market in 2023, amassing US$ 103.54 million. It is projected to garner US$ 121.49 million by 2031 to expand at 2.0% CAGR from 2023 to 2031.

Based on country, the South & Central America mortar systems market is categorized into Brazil and the Rest of South & Central America. Our regional analysis states that Brazil captured 78.5% share of South & Central America mortar systems market in 2023. It was assessed at US$ 118.01 million in 2023 and is likely to hit US$ 137.91 million by 2031, registering a CAGR of 2.0% during 2023-2031.

Key players operating in the South & Central America mortar systems market are Thales SA, Elbit Systems Ltd, Rheinmetall AG, and Northrop Grumman Corp, among others.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America 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 South & Central 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 South & Central America market trends and outlook coupled with the factors driving the South & Central 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.

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. South & Central America Mortar Systems Market Landscape
4.1 Overview
4.2 Porter Five Forces Analysis
4.3 Ecosystem Analysis
5. South & Central 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 – South & Central America Analysis
6.1 South & Central America Mortar Systems Market Overview
6.2 Mortar Systems Market Revenue (US$ Million), 2021-2031
6.3 Mortar Systems Market Forecast Analysis
7. South & Central 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. South & Central 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. South & Central America Mortar Systems Market – Country Analysis
9.1 South & Central America
9.1.1 South & Central America: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 South & Central America: Mortar Systems Market – Revenue and Forecast Analysis – by Country
9.1.1.2 Brazil: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 Brazil: Mortar Systems Market Breakdown, by Calibre
9.1.1.2.2 Brazil: Mortar Systems Market Breakdown, by Type
9.1.1.3 Rest of South & Central America: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Rest of South & Central America: Mortar Systems Market Breakdown, by Calibre
9.1.1.3.2 Rest of South & Central America: 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
13. Appendix
13.1 About The Research Team

LIST OF TABLES

Table 1. South & Central 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. South & Central America: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 6. Brazil: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 7. Brazil: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 8. Rest of South & Central America: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Calibre
Table 9. Rest of South & Central America: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 10. Heat Map Analysis by Key Players

LIST OF FIGURES

Figure 1. South & Central 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. South & Central America Mortar Systems Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 15. South & Central America: Mortar Systems Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 16. Brazil: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Rest of South & Central America: Mortar Systems Market – Revenue and Forecast to 2031 (US$ Million)