According to IMARC Group’s latest report, titled “Torpedo Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global torpedo market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 3.3% during 2021-2026.
A torpedo refers to a self-propelled and self-guided weapon that is characterized by a cigar-like shape. It is commonly operated underwater and launched from a ship, submarine or an aircraft to detonate on contact or in the vicinity of the target. It involves the use of numerous advanced devices for controlling its depth and directing in accordance with a pre-set plan upon receiving signals from an outside source. It also assists in detonating explosive-filled warhead when it strikes its target or comes near it.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Torpedo Market Trends and Drivers:
The global torpedo market is majorly driven by the rising threat of terrorism across numerous nations. The increasing incidences of growing geopolitical conflicts among several countries have led to the expansion of the defense budgets. This acts as a major growth-inducing factor for the market. Moreover, multiple government agencies on the global level are continually investing in the upgradation of their existing naval systems, which is creating a positive outlook for the market. The market is further driven by the widespread integration of advanced technologies, including electric propulsion systems and advanced navigation solutions, with torpedoes as these variants are extensively characterized by high speed and advanced capabilities. Some of the other factors contributing to the market growth include the advent of mini torpedoes, extensive research and development (R&D) activities and increasing investments by public and private organizations to enhance the connectivity between submarines and weapons, ultra-broadband arrays and intelligent controllers.
Torpedo Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the torpedo market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Atlas Elektronik GmbH
- BAE Systems
- Bharat Dynamics Limited
- Leonardo SpA
- Lockheed Martin Corporation
- Naval Group
- Northrop Grumman Corporation
- Raytheon Company
- Saab AB
The report has segmented the global torpedo market on the basis of weight, launch platform, propulsion and region.
Breakup by Weight:
- Heavyweight Torpedoes
- Lightweight Torpedoes
Breakup by Launch Platform:
Breakup by Propulsion:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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