Global Torpedo Market Description
A torpedo is a device that comes handy in as a weapon which launches an attack on enemies. It is considered one of the most sophisticated weapons in the arena of naval warfare. The weapon consists of three explosive units, a propeller system and a guiding system. It can be sent from aeroplanes, boats or even submarines.
Global Torpedo Market Overview
It is estimated for the Global Torpedo Market to grow at a CAGR of 10.2% during the forecast period of 2022 to 2030. The market witnessed a healthy growth rate even during the previous forecast period of 2018 to 2021.
Growth in military activities around the world is estimated to boost the growth of the market during the forecast period. The market is also estimated to witness growth owing to the rise in the investment in the defense sector by major economies of the world including the US, India, China, France, Gulf Countries and so on.
The growth in the adoption of submarines by countries around the globe to boost their naval sector is also a factor that is estimated to drive the growth of the market during the forecast period. The inclusion of advanced submarines in the defense sector by countries around the world is fostering the growth of the market during the forecast period.
Global TorpedoMarket Key Trends
Advancement in the defense sector by the countries to foster the market
Growth in military activities around the world is estimated to boost the growth of the market during the forecast period. The market is also estimated to witness growth owing to the rise in the investment in the defense sector by major economies of the world including the US, India, China, France, Gulf Countries and so on.
Integration of advanced submarines in the defense category to drive the market
The growth in the adoption of submarines by countries around the globe to boost their naval sector is also a factor that is estimated to drive the growth of the market during the forecast period. The inclusion of advanced submarines in the defense sector by countries around the world is fostering the growth of the market during the forecast period.
Global Torpedo Market Segmental Assessment
By Weight
Heavyweight Torpedoes
Lightweight Torpedoes
It is estimated for the lightweight torpedoes to boost the growth of the market.
By Propulsion
Electric
Conventional
It is estimated for the electric propulsion to boost the growth of the market
Global Torpedo Market Geographical Landscape
North America, Asia Pacific, Europe, Latin America, and Middle East and Africa are the major regions that are boosting the growth of the market during the forecast period. During the forecast period it is estimated for the region of North America to drive the growth of the market. Increasing investments by the region in the sector of defense is one of the factors for the growth in the investments along with the presence of major players in the regions is another factor that is driving the region at a healthy rate.
Report Scope
Global Torpedo Market: Historical Years (2018-2021)
Global Torpedo Market : Forecast Years (2022-2030)
Global Torpedo Market CAGR 10.2%
Key Segments Reported
By Weight (Heavyweight Torpedoes and Lightweight Torpedoes)
By Propulsion (Electric and Conventional)
Major regions and countries covered
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Aselsan, Atlas Elektronik GmbH, BAE Systems, Bharat Dynamics Limited, Leonardo SpA, Lockheed Martin Corporation, Naval Group, Northrop Grumman Corporation, Raytheon Company, Rosoboronexport, Saab AB and so on are the key players in the market.
