The "Global Mortar Ammunition Market Segmented by Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.The mortar ammunition industry is expected to register a CAGR of more than 3% over the forecast period.

Unstable Trend of Military Expenditure in Some Nations

The military expenditure in many countries is not constant. The US, China, Saudi Arabia, Russia, and the United Kingdom were among the top nations in terms of military spending in 2016. The US and China are expected to compete during the forecast period to become the top country in military expenditure.

Countries like the United Kingdom, France, Japan, Germany, and Brazil are, however, expected to lower their budget spending on military in the next three decades as their GDP grows.

One of the factors responsible for reducing military expenditure is the slump in oil prices. Since late 2014, the sharp fall in oil prices has had a significant impact on military spending in several oil-exporting countries. Nations like Angola, Ecuador, Iraq, Mexico, Saudi Arabia, South Sudan, and Venezuela were forced to cut their government budgets, including the military.

According to Stockholm International Peace Research Institute, the total military spending in the Middle-East fell by around 17%, with Iraq and Saudi Arabia exhibiting significant decline by 36% and 30%, respectively, in 2016. Additionally, the military expenditure in Africa dropped by 1.3%, amounting to USD 37.9 billion, in 2016.

This unstable trend in the military spending is affecting the mortar ammunition market since the amount of money a country invests in military ammunition is directly proportional to the progress of the mortar ammunition market in the country.

Key Market Development

RUAG Aviation has renewed an aircraft sustainment contract with the Netherlands Coastguard for two Dornier 228Companies ProfiledGeneral Dynamics Ordnance & Tactical SystemsRheinmetall DefenceBAE Systems PLCMAXAMCorp Holding S.L.UkroboronpromDenel Land SystemsNEXTER GroupAlliant Techsystems Inc.RUAG GroupSaab ABHanwha TechwinNammo AS

Key Topics Covered

1. Introduction

2. Research Methodology

3. Market Insights

4. Market Dynamics

5. Artillery Ammunition Market, Segmentated by Geography

6. Competitive Landscape

7. Company Profiles

8. Future Market Outlook

For more information about this report visit https://www.researchandmarkets.com/research/g7nbwv/global_mortar?w=4

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Related Topics:Ammunition

KEYWORD:

INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/12/2018 08:08 AM/DISC: 09/12/2018 08:08 AM

http://www.businesswire.com/news/home/20180912005576/en