Torpedo Market Report: Trends, Forecast and Competitive Analysis to 2030

Torpedo Trends and Forecast

The future of the global torpedo market looks promising with opportunities in the electric propulsion and conventional propulsion markets. The global torpedo market is expected to reach an estimated $1.4 billion by 2030 with a CAGR of 5.2% from 2024 to 2030. The major drivers for this market are rising adoption of anti-submarine, growing maritime border dispute among neighboring countries, and increasing procurement of naval vessels.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Torpedo by Segment

The study includes a forecast for the global torpedo by weight, launch platform, propulsion, and region.

Torpedo Market by Weight [Shipment Analysis by Value from 2018 to 2030]:

• Heavyweight Torpedoe
• Lightweight Torpedoe

Torpedo Market by Launch Platform [Shipment Analysis by Value from 2018 to 2030]:

• Air-Launched
• Surface-Launched
• Underwater-Launched

Torpedo Market by Propulsion [Shipment Analysis by Value from 2018 to 2030]:

• Electric Propulsion
• Conventional Propulsion

Torpedo Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Torpedo Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies torpedo companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the torpedo companies profiled in this report include-

• Raytheon Technologies
• Naval
• Bae Systems
• Bharat Dynamics
• Lockheed Martin
• Atlas Elektronik
• Honeywell International

Torpedo Market Insights

Lucintel forecasts that heavyweight will remain the larger segment over the forecast period due to its increasing use to enhance the naval force's capacity to carry out combat missions.

Within this market, electric propulsion is expected to witness the higher growth.

North America is expected to witness highest growth over the forecast period due to growing government spending on procurement of new vessels and presence of key players in the region.

Features of the Global Torpedo Market

Market Size Estimates: Torpedo market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Torpedo market size by weight, launch platform, propulsion, and region in terms of value ($B).

Regional Analysis: Torpedo market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different weights, launch platforms, propulsions, and regions for the torpedo market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the torpedo market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the torpedo market size?

Answer: The global torpedo market is expected to reach an estimated $1.4 billion by 2030.

Q2. What is the growth forecast for torpedo market?

Answer: The global torpedo market is expected to grow with a CAGR of 5.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the torpedo market?

Answer: The major drivers for this market are rising adoption of anti-submarine, growing maritime border dispute among neighboring countries, and increasing procurement of naval vessels.

Q4. What are the major segments for torpedo market?

Answer: The future of the torpedo market looks promising with opportunities in the electric propulsion and conventional propulsion markets.

Q5. Who are the key torpedo market companies?

Answer: Some of the key torpedo companies are as follows:

• Raytheon Technologies
• Naval
• Bae Systems
• Bharat Dynamics
• Lockheed Martin
• Atlas Elektronik
• Honeywell International

Q6. Which torpedo market segment will be the largest in future?

Answer: Lucintel forecasts that heavyweight will remain the larger segment over the forecast period due to its increasing use to enhance the naval force's capacity to carry out combat missions.

Q7. In torpedo market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to growing government spending on procurement of new vessels and presence of key players in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the torpedo market by weight (heavyweight torpedoe and lightweight torpedoe), launch platform (air-launched, surface-launched, and underwater-launched), propulsion (electric propulsion and conventional propulsion), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?