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Torpedo Market Research Report 2019, Industry Trends, Share, Size, Demand and Future Scope

According to IMARC Group, the torpedo market to grow at a CAGR of around 4% during 2020-2025. A torpedo is a self-propelled underwater missile that is released from a submarine or an airplane to detonate upon coming in contact with the hulls of surface vessels and other warships. It consists of sensors to control its depth and direction, which respond to a set plan or signals received from an outside source.

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The growing threat of terrorism and rising conflicts between countries have prompted the governing authorities to invest in the defense and military sector. They are also spending on the upgradation of existing underwater warfare weapons to destroy hostile ships, which is providing a positive thrust to the market growth. Furthermore, technological advancements have resulted in the development of smart and indigenous torpedoes with advanced capabilities, such as high-speed, range and operating depth. Moreover, extensive research and development (R&D) activities have led to improved connectivity between submarines and weapons. These factors are expected to create a positive outlook for the market in the coming years.

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Report Coverage

Breakup by Weight:

  • Heavyweight Torpedoes
  • Lightweight Torpedoes

Breakup by Launch Platform:

  • Sea-launched
    • Surface-launched
    • Underwater-launched
  • Air-launched

Breakup by Propulsion:

  • Electric
  • Conventional

Breakup by Region:

  • North America
    • 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

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.

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