South & Central 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)

Description

List of Tables

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; it is estimated to record a CAGR of 1.8% from 2023 to 2031.

Deployment of Countermeasure Systems Fuels South & Central America 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.

South & Central America Mortar Systems Market Overview

The SAM mortar systems market is bifurcated into Brazil and the Rest of SAM. Governments of various countries in SAM have increased their military spending to establish a sustainable and robust defense sector. According to the Stockholm International Peace Research Institute (SIPRI), the military expenditure of SAM was US$ 44,317.9 million in 2020, which increased to US$ 45,879.8 million in 2021 and reached US$ 46,097.0 million in 2022. Many countries in SAM have aging military equipment and outdated defense systems. The increasing defense budget allows for the modernization of military forces, including the procurement of advanced weaponry, artillery systems, and communication technologies. The increase in military expenditures in SAM is significantly driving the mortar systems market. Nations committing funds to procure advanced artillery demonstrate a commitment to strengthening their military capabilities, which, in turn, fuels market growth. For instance, in October 2023, Avibras secured a contract with the Brazilian Army (EB) for the delivery of a batch of 70 mm Skyfire rockets, reinforcing the strong collaboration between Avibras and the military institution. The SKYFIRE rockets form a part of Avibras' extensive portfolio of high-value-added products, serving dual purposes as axial armament for aircraft (air-surface) and as an area saturation system (surface-surface). Acknowledged for their high performance, these rockets are versatile and can be deployed across a spectrum of aircraft, ranging from helicopters to high-performance jets. The 70 mm caliber rockets, along with their airborne multiple launchers, cater to various applications, showcasing their adaptability and effectiveness in meeting diverse military requirements. Military procurement often involves strategic alliances and partnerships. Collaborative efforts between nations in SAM and international defense suppliers can lead to the exchange of technology, expertise, and joint development programs, contributing to the growth of the military mortar systems market.

South & Central America Mortar Systems Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Mortar Systems Market Segmentation

The South & Central America mortar systems market is categorized into calibre, type, and country.

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 the largest market share in 2023.

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 a larger market share in 2023.

By country, the South & Central America mortar systems market is segmented into Brazil and the Rest of South & Central America. Brazil dominated the South & Central America mortar systems market share in 2023.

Thales SA, Elbit Systems Ltd, Rheinmetall AG, and Northrop Grumman Corp are some of the leading companies operating in the South & Central America mortar systems market.

Product Code: BMIRE00030853

1. Introduction

1.1 The Insight Partners 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 Insight Partners