The global torpedo market size reached US$ 1.05 billion in 2023. Looking forward, the publisher expects the market to reach US$ 1.49 billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2023-2032.
A torpedo is a cigar-shaped, self-propelled underwater weapon that is launched from a submarine, ship or an aircraft to rupture the hulls of other submarines and surface vessels. It is one of the most preferred weapons that are utilized in marine warfare. The torpedo comprises intricate devices for controlling the depth and direction according to the signals received from an outside source and detonating the explosive-filled warhead when it strikes the target or comes close to it. At present, the demand for torpedoes is continuously rising owing to the growing threat of terrorism across the globe.
Lightweight Torpedoes
Surface-launched
Underwater-launched
Air-launched
Conventional
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
2. What is the expected growth rate of the global torpedo market during 2024-2032?
3. What are the key factors driving the global torpedo market?
4. What has been the impact of COVID-19 on the global torpedo market?
5. What is the breakup of the global torpedo market based on the weight?
6. What is the breakup of the global torpedo market based on the launch platform?
7. What is the breakup of the global torpedo market based on propulsion?
8. What are the key regions in the global torpedo market?
9. Who are the key players/companies in the global torpedo market?
A torpedo is a cigar-shaped, self-propelled underwater weapon that is launched from a submarine, ship or an aircraft to rupture the hulls of other submarines and surface vessels. It is one of the most preferred weapons that are utilized in marine warfare. The torpedo comprises intricate devices for controlling the depth and direction according to the signals received from an outside source and detonating the explosive-filled warhead when it strikes the target or comes close to it. At present, the demand for torpedoes is continuously rising owing to the growing threat of terrorism across the globe.
Torpedo Market Trends and Drivers:
The rising conflicts among different countries are encouraging governing agencies to increase their investments in the defense and military sector. This represents one of the major factors bolstering the global torpedo market growth. Besides this, they are also spending on the upgradation of their existing naval systems, especially the developed economies, which is positively influencing the sales of torpedoes. Furthermore, the introduction of advanced technologies, such as electric propulsion, advanced navigation and mini torpedoes, is escalating the market growth. Among these, electric propulsion torpedoes are currently gaining preference around the world on account of their advanced capabilities, such as high speed and fewer vibrations. Apart from this, the increasing investments in the research and development (R&D) activities to improve connectivity between submarines and weapons, intelligent controllers and ultra-broadband arrays are expected to strengthen the market growth in the upcoming years.Key Market Segmentation:
The report provides an analysis of the key trends in each segment of the global torpedo market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on weight, launch platform, and propulsion.Breakup by Weight:
Heavyweight TorpedoesLightweight Torpedoes
Breakup by Launch Platform:
Sea-launchedSurface-launched
Underwater-launched
Air-launched
Breakup by Propulsion:
ElectricConventional
Breakup by Region:
North AmericaUnited States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Aselsan, Atlas Elektronik GmbH, BAE Systems, Bharat Dynamics Limited, Leonardo SpA, Lockheed Martin Corporation, Naval Group, Northrop Grumman Corporation, Raytheon Company, Rosoboronexport, Saab AB, etc.Key Questions Answered in This Report
1. What was the size of the global torpedo market in 2023?2. What is the expected growth rate of the global torpedo market during 2024-2032?
3. What are the key factors driving the global torpedo market?
4. What has been the impact of COVID-19 on the global torpedo market?
5. What is the breakup of the global torpedo market based on the weight?
6. What is the breakup of the global torpedo market based on the launch platform?
7. What is the breakup of the global torpedo market based on propulsion?
8. What are the key regions in the global torpedo market?
9. Who are the key players/companies in the global torpedo market?
Table of Contents
1 Preface3 Executive Summary13 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Torpedo Market
6 Market Breakup by Weight
7 Market Breakup by Launch Platform
8 Market Breakup by Propulsion
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Aselsan
- Atlas Elektronik GmbH
- BAE Systems
- Bharat Dynamics Limited
- Leonardo SpA
- Lockheed Martin Corporation
- Naval Group
- Northrop Grumman Corporation
- Raytheon Company
- Rosoboronexport
- Saab AB
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1058.9 Million |
| Forecasted Market Value ( USD | $ 1490.3 Million |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
