The mortar systems market is projected to expand from US$ 2,302.02 million in 2022 to US$ 3,540.55 million by 2030, reflecting a compound annual growth rate (CAGR) of 5.5% during the period from 2022 to 2030.

In 2022, North America held the largest share of the global mortar systems market and is anticipated to maintain this leading position throughout the forecast period. The increase in military spending, driven by escalating geopolitical tensions, is a significant factor contributing to this trend. According to the Stockholm International Peace Research Institute (SIPRI), military expenditures in the region rose from US$ 809 billion in 2020 to US$ 912 billion in 2022, with US$ 840 billion recorded in 2021. The growing budgets enable the integration of advanced technologies into artillery systems, enhancing communication, targeting precision, and the development of precision-guided munitions, thereby increasing the effectiveness and sophistication of artillery. For example, in April 2023, the Swiss Federal Office for Defence Procurement awarded General Dynamics European Land Systems-Mowag (GDELS-Mowag) a contract for 16 units of the M?rser 16 120 mm mortar systems. Such developments are propelling the growth of the mortar systems market across various regions.

The ongoing conflict between Ukraine and Russia has also played a role in boosting the mortar systems market in North America. Although the US and Canada are not directly engaged in the conflict, various factors are shaping the military equipment market in the region. Notably, North American countries, especially the United States, have extended military assistance to Ukraine in response to the situation. This support often includes the provision of advanced weaponry, which likely increases the demand for military hardware, including mortar systems. The conflict underscores the significance of strategic alliances and partnerships among North American nations and their allies, potentially leading to collaborative defense initiatives, joint development programs, or technology exchanges that further stimulate the mortar systems market. For instance, in 2023, the US supplied Ukraine with 20 units of 120mm mortars and Poland provided 100 units of MLP-2017 60mm mortars, contributing to the market's growth in North America.

The global mortar systems market is categorized by calibre, type, and geographical region. In terms of calibre, the market is divided into small calibre, medium calibre, and large calibre mortar systems. By type, the market is segmented into towed/hand-held and self-propelled systems. Geographically, the market is divided into five key regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

Key players in the mortar systems market include Hirtenberger Defence Systems, General Dynamics Ordnance and Tactical Systems, Thales, Elbit Systems Ltd, Rheinmetall AG, Raytheon Technologies Corporation, RUAG Group, Northrop Grumman Corporation, ST Engineering, and Arquus, all of which are highlighted in the market report.

The overall size of the mortar systems market has been determined through a combination of primary and secondary research methods. Extensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative data regarding the mortar systems market size. This research process aids in providing a comprehensive overview and forecast of the market across all segments. Additionally, numerous primary interviews have been carried out with industry stakeholders to validate the data and obtain analytical insights. This includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the mortar systems market.