Torpedo Market

Torpedo Market by Product (Heavyweight Torpedoes, Lightweight Torpedoes) by Application (Air-launched, Surfaced-launched, Underwater-launched) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Frequently Asked Questions

  • What is the global demand for Torpedo in terms of revenue?

    The global Torpedo valued at 891 Million in 2020 and is expected to reach 1025 Million in 2028 growing at a CAGR of 4.5%

  • The prominent players in the market are ASELSAN AS, Atlas Elektronik GmbH, BAE Systems, Honeywell International Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Rosoboronexport, Saab AB, Raytheon, Atlas Elektronik..

  • The market is project to grow at a CAGR of 4.5% between 2021 and 2028.

  • The driving factors of the Torpedo include

    • The key determinant propelling the market for torpedoes is the expanded production of light weight torpedoes which can be taken or on a warship or on an aircraft in a large number. These light weighted torpedoes are primarily released from the aircraft near the target and are targeted at submarines. As the torpedoes are discharged near to the targets, it reduces the need for accurate navigation systems and thus minimizing the overall costs. The expanded usage of these lightweight torpedoes, are expected to drive the growth of the market.
    • The improvement in underwater warfare technology is another prominent factor growing the demand for the market. Due to the fact that, currently underwater warfare has expanded a lot in relation to early days, the torpedoes plays an important role in undersea warfare owing to their self-propelled and self-guided characteristics. The progress in torpedoes assists the air forces and naval forces to remove their enemies in their vicinity.
  • North America was the leading regional segment of the Torpedo in 2020.