Technological developments in the torpedo market have improved propulsion and guiding systems as well as stealth capabilities. One prominent trend in smart technology and AI is their combination to improve targeting and countermeasure capabilities. Furthermore, submarine programs are directly associated with the demand for torpedoes. Moreover, there is an increase in demand for torpedoes as nations improve their submarine capabilities or purchase new submarines.
The underwater unmanned vehicle (UUV) and autonomous underwater vehicle (AUV) markets have been impacted by the advancement and application of these technologies. Torpedoes are frequently used by these systems for surveillance and other reasons, such as mine countermeasure. In addition, countries increase their naval capabilities, including the purchase of cutting-edge torpedoes for both offensive and defensive uses, in response to geopolitical tensions and regional conflicts.
The torpedo market has grown at a substantial rate due to nations with aggressive plans for naval expansion. Investments in cutting-edge torpedo systems are likely to come from naval forces seeking to preserve or improve their maritime security capabilities. Furthermore, advanced anti-submarine warfare capabilities are necessary due to security concerns, particularly in important maritime zones. Investments in torpedoes are more common in nations with long coastlines or those that face particular security risks. Moreover, governments and commercial military contractors working together promote the development and manufacturing of cutting-edge torpedoes. The technological advancements are carried out by public-private partnerships that helps spread the cost of research and development.
On the basis of weight, heavyweight torpedoes segment attained the highest market share in 2022 in the torpedo market. This is attributed to the fact that submarines, aircraft carriers, and surface ships are among the larger, more highly armored naval warships that heavyweight torpedoes are intended to strike and neutralize. They are capable of combating significant threats in naval warfare due to their larger size and enhanced firepower.
Meanwhile, the lightweight torpedoes segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the fact that certain lightweight torpedoes are made with multiple uses in mind, meaning they hit both surface and underwater targets. The market share of lightweight torpedoes increase if navies value maneuverability and adaptability over the sheer firepower of heavyweight torpedoes.
On the basis of launch platform, the surface-launched segment attained the highest market share in 2022 in the torpedo market. This is attributed to the fact that the situations where surface-launched torpedoes might be more practicable or economical. Demand in this market could increase if navies believed surface ships to be adaptable and able to house torpedo systems that work for them.
Meanwhile, the air launched segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the fact that air-launched torpedoes provide a high degree of operational flexibility. Aircraft cover large areas and respond rapidly to emerging threats. The capability to launch torpedoes from the air allows versatile and timely deployment in different maritime scenarios.
On the basis of propulsion, the electric propulsion segment attained the highest market share in 2022 in the torpedo market. This is attributed to the fact that it enables torpedoes to approach targets quietly and avoid being picked up by hostile sonar systems, this stealthy feature is essential in naval warfare. Torpedoes are more successful in anti-submarine warfare and other tasks due to their silent propulsion, which also improves the element of surprise.
Meanwhile, the conventional propulsion segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the fact that torpedoes have long employed conventional propulsion systems, such as those on the basis of internal combustion engines or other conventional methods, since they are reliable and well-established. This continuous acceptability and use of technology is attributed to user familiarity.
The torpedo market is segmented on the basis of weight, launch platform, propulsion, and region. By weight, it is bifurcated into heavyweight torpedoes, and Lightweight Torpedoes. By launch platform, the market is classified into air launched, surface-launched, and underwater launched. By propulsion, it is fragmented into electric propulsion and conventional propulsion. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major companies operating in the market are ASELSAN A.S., Atlas Elektronik GmbH, BAE Systems, Bharat Dynamics Limited, Leonardo S.p.A., Naval Group, Northrop Grumman, Raytheon techmologies, Rosoboronexport, and Saab.
The underwater unmanned vehicle (UUV) and autonomous underwater vehicle (AUV) markets have been impacted by the advancement and application of these technologies. Torpedoes are frequently used by these systems for surveillance and other reasons, such as mine countermeasure. In addition, countries increase their naval capabilities, including the purchase of cutting-edge torpedoes for both offensive and defensive uses, in response to geopolitical tensions and regional conflicts.
The torpedo market has grown at a substantial rate due to nations with aggressive plans for naval expansion. Investments in cutting-edge torpedo systems are likely to come from naval forces seeking to preserve or improve their maritime security capabilities. Furthermore, advanced anti-submarine warfare capabilities are necessary due to security concerns, particularly in important maritime zones. Investments in torpedoes are more common in nations with long coastlines or those that face particular security risks. Moreover, governments and commercial military contractors working together promote the development and manufacturing of cutting-edge torpedoes. The technological advancements are carried out by public-private partnerships that helps spread the cost of research and development.
On the basis of weight, heavyweight torpedoes segment attained the highest market share in 2022 in the torpedo market. This is attributed to the fact that submarines, aircraft carriers, and surface ships are among the larger, more highly armored naval warships that heavyweight torpedoes are intended to strike and neutralize. They are capable of combating significant threats in naval warfare due to their larger size and enhanced firepower.
Meanwhile, the lightweight torpedoes segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the fact that certain lightweight torpedoes are made with multiple uses in mind, meaning they hit both surface and underwater targets. The market share of lightweight torpedoes increase if navies value maneuverability and adaptability over the sheer firepower of heavyweight torpedoes.
On the basis of launch platform, the surface-launched segment attained the highest market share in 2022 in the torpedo market. This is attributed to the fact that the situations where surface-launched torpedoes might be more practicable or economical. Demand in this market could increase if navies believed surface ships to be adaptable and able to house torpedo systems that work for them.
Meanwhile, the air launched segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the fact that air-launched torpedoes provide a high degree of operational flexibility. Aircraft cover large areas and respond rapidly to emerging threats. The capability to launch torpedoes from the air allows versatile and timely deployment in different maritime scenarios.
On the basis of propulsion, the electric propulsion segment attained the highest market share in 2022 in the torpedo market. This is attributed to the fact that it enables torpedoes to approach targets quietly and avoid being picked up by hostile sonar systems, this stealthy feature is essential in naval warfare. Torpedoes are more successful in anti-submarine warfare and other tasks due to their silent propulsion, which also improves the element of surprise.
Meanwhile, the conventional propulsion segment is projected to be the fastest-growing segment during the forecast period. This is attributed to the fact that torpedoes have long employed conventional propulsion systems, such as those on the basis of internal combustion engines or other conventional methods, since they are reliable and well-established. This continuous acceptability and use of technology is attributed to user familiarity.
The torpedo market is segmented on the basis of weight, launch platform, propulsion, and region. By weight, it is bifurcated into heavyweight torpedoes, and Lightweight Torpedoes. By launch platform, the market is classified into air launched, surface-launched, and underwater launched. By propulsion, it is fragmented into electric propulsion and conventional propulsion. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major companies operating in the market are ASELSAN A.S., Atlas Elektronik GmbH, BAE Systems, Bharat Dynamics Limited, Leonardo S.p.A., Naval Group, Northrop Grumman, Raytheon techmologies, Rosoboronexport, and Saab.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the torpedo market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall torpedo market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global torpedo market with a detailed impact analysis.
- The current torpedo market is quantitatively analyzed from 2022 to 2032 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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Key Market Segments
By Weight
- Lightweight Torpedoes
- Heavyweight Torpedoes
By Launch platform
- Air launched
- Surface-launched
- Underwater-launched
By Propulsion
- Electric Propulsion
- Conventional Propulsion
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- BAE Systems
- Bharat Dynamics Limited
- Leonardo S.p.A.
- Naval Group
- Northrop Grumman
- Raytheon techmologies
- Rosoboronexport
- Saab
- ASELSAN A.?.
- Atlas Elektronik GmbH
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TORPEDO MARKET, BY WEIGHT
CHAPTER 5: TORPEDO MARKET, BY LAUNCH PLATFORM
CHAPTER 6: TORPEDO MARKET, BY PROPULSION
CHAPTER 7: TORPEDO MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- BAE Systems
- Bharat Dynamics Limited
- Leonardo S.p.A.
- Naval Group
- Northrop Grumman
- Raytheon techmologies
- Rosoboronexport
- Saab
- ASELSAN A.?.
- Atlas Elektronik GmbH
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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