Global Torpedo Market Growth 2023-2029

Global Torpedo Market Growth 2023-2029

The torpedoes are self-propelled and self-guided weapons for anti-warships and anti-submarine warfare. The torpedoes are mainly operated underwater and are developed to detonate on contact or in the vicinity of the target. The torpedoes are generally released from submarines or warships, and sometimes from aircrafts or helicopters also. The submarine or warship released torpedoes which are heavier in weight while the same released from an aircraft or helicopters are lighter in weight.

LPI (LP Information)' newest research report, the “Torpedo Industry Forecast” looks at past sales and reviews total world Torpedo sales in 2022, providing a comprehensive analysis by region and market sector of projected Torpedo sales for 2023 through 2029. With Torpedo sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Torpedo industry.

This Insight Report provides a comprehensive analysis of the global Torpedo landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Torpedo portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Torpedo market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Torpedo and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Torpedo.

The global Torpedo market size is projected to grow from US$ 1322.2 million in 2022 to US$ 1697.2 million in 2029; it is expected to grow at a CAGR of 1697.2 from 2023 to 2029.

The key factor driving the market for torpedoes is the increased production of light weight torpedoes which can be carried on an aircraft or on a warship in a large number. These lightweight torpedoes are mainly targeted at submarines and are released from the aircraft near the target. As the torpedoes are released near to the targets, it minimizes the need for precision navigation systems and thus reducing the overall costs. The increased usage of lightweight torpedoes, are likely to aid the growth of the market for torpedoes. Another prominent factor boosting the market for torpedoes is the advancement in underwater warfare technology. Owing to the fact that, presently underwater warfare has increased a lot in comparison to early days, the torpedoes plays a vital role in undersea warfare due to their self-guided and self-propelled characteristics. The advancement in torpedoes helps the naval forces and air forces to eliminate their enemies in their vicinity.

This report presents a comprehensive overview, market shares, and growth opportunities of Torpedo market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Guided Torpedoes
Unguided Torpedoes

Segmentation by application
Ships
Submarines

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
ATLAS ELEKTRONIK
Leonardo
Lockheed Martin
Raytheon
Saab

Key Questions Addressed in this Report

What is the 10-year outlook for the global Torpedo market?

What factors are driving Torpedo market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Torpedo market opportunities vary by end market size?

How does Torpedo break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.