According to IMARC Group, the torpedo market to grow at a CAGR of around 4% during 2020-2025. A torpedo is an underwater weapon used to destroy the hulls of other submarines and surface vessels. It is a cigar-shaped, self-propelled weapon launched from a submarine, an aircraft, or a ship, and is often adopted in marine warfare. The torpedo includes complex devices that control the depth and direction as per the signals received from an outside source and detonate the explosive-filled warhead as it strikes or comes close to the target.

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The rising number of cross-border conflicts has propelled the governing agencies to include efficient and advanced defense systems that can be deployed on a combat basis. Moreover, the rising investments in the upgradation of the existing naval infrastructures, particularly across the developed economies, are also propelling the demand for torpedoes. Furthermore, numerous technological advancements have led to the emergence of electric propulsion, advanced navigation, and mini torpedoes, thereby augmenting the market growth. Additionally, the growing investments in extensive R&D activities to enhance connectivity between submarines and weapons, intelligent controllers, and ultra-broadband arrays, are expected to strengthen the market growth 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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