Global Torpedo Market Overview
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.
The torpedo manufacturers are constantly focusing on the development of hybrid torpedoes which will be impacting positively on the naval forces and air forces across the globe. The hybrid torpedoes are the next generation stealth torpedoes that combine the two main capabilities into one weapon, making it difficult for the enemies to react with counter measures. The primary advantage of these hybrid torpedoes is to expand the range and increase the speed of movement of the torpedo systems. Another advantage is that the hybrid torpedoes or next generation stealth torpedoes remain undetected by the enemy submarines or warships until it reaches close to the contact of detonation, thus limiting the enemy to react to the incoming torpedo and deploying weapons to resist it.
Impact of COVID-19 pandemic on market
The recent coronavirus outbreak has had a drastic impact on defense industries across the globe. Among all regions, the market in Europe has witnessed the highest impact due to the slowdown in the supply chain management of key torpedo manufacturers. Several players have experienced financial crises and have thus decided to postpone the operational activities to minimize the spread of coronavirus. This has significantly delayed the deliveries of the torpedoes. Moreover, due to the COVID-19 pandemic, major carrier transport operations are cancelled. Pandemic affected the worldwide raw material supply in the shipbuilding industry.
Global Torpedo Market Dynamics
Rising Maritime Border Dispute among Neighboring Countries
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. The rising initiatives among governments in developing countries and terrorist activities across the world will contribute to the growing adoption of torpedoes across the world. Therefore, to improve the marine border security and marine mission capabilities, the government in the developing countries is focusing on the development of navy ships, submarines, and maritime helicopters armed with torpedoes.
The market for torpedoes has certain restraining factors such as the submarine manufacturers are constantly focusing on development of ballistic missiles protected submarines. This development is hampering the market for torpedoes as these ballistic protected submarines are not affected by the torpedoes. Another inhibiting factor for the torpedo market is the limitations in detecting direction and speed of the torpedoes. The torpedoes are self-guided and self-propelled weapons, so the controlling of these weapons is not possible. Thus, the speed and direction depends totally on the direction of launching.
Global Torpedo Market Segmentation
The global torpedo market is segmented based on the weight, launch platform, propulsion region. Base on the weight, the global market is segmented into heavyweight torpedoes, and lightweight torpedoes. The heavyweight segment held the largest share in the market in 2019. The adoption of heavyweight torpedoes has risen as it helps to improve the combat mission capabilities of the naval force. The increasing procurement of heavyweight torpedoes in several countries across Asia Pacific will aid market growth.
On the basis of platform launched, the market is segment into Air-Launched, Surface-Launched and Underwater-Launched. The surface launched platform segment dominates the market due to rising procurement of surface naval vessels across the world. The surface naval ship vessels have torpedo tubes to release the torpedo into the ocean. Based on propulsion, the torpedo market is segmented into electric propulsion and conventional propulsion. The electric propulsion segment shows the fastest growth due to rising demand for electric ships. The electric propulsion system along with electric motor and battery, deliver energy to the torpedo to move forward with high speed.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
According to the region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is anticipated to register the highest growth due to the tensions between China, India, Japan, and South Korea. Due to the ongoing tensions in the South China Sea, China is rigorously developing its naval ships and submarines. Similarly, India has also been investing in empowering its naval force. Recently, the Defense Ministry of India approved the acquisition of more than 100 heavyweight torpedoes, which are likely to be equipped on six Scorpene-class submarines. Such immediate requirements for heavyweight torpedoes are expected to be met by purchases from foreign vendors, while the long-term bulk requirements may be fulfilled through the ‘Made in India’ initiative. Development of indigenous torpedoes and their deployment in the respective naval forces may be the supporting factor for the development of the torpedo market in this region.
Detail Segmentation:
|
Attribute |
Details |
|
The base year for estimation |
2019 |
|
Forecast Period |
2019 - 2029 |
|
Market Representation |
Revenue in USD Billion & CAGR from 2019-2029 |
|
Market Segmentation |
By Weight - Heavyweight Torpedoes, and Lightweight Torpedoes By Launch Platform - Air-Launched, Surface-Launched and Underwater-Launched By Propulsion - Electric Propulsion and Conventional Propulsion |
|
Regional Scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments covered in the report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global torpedo market report based on weight, launch platform, propulsion and region.
Global Torpedo Market, By Weight:
- Heavyweight Torpedoes
- Lightweight Torpedoes
Global Torpedo Market, By Launch Platform:
- Air-Launched
- Surface-Launched
- Underwater-Launched
Global Torpedo Market, By Propulsion:
- Electric Propulsion
- Conventional Propulsion
Global Torpedo Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Global Torpedo Market Key Players
Some of the major players operating in the torpedoes market include Atlas Elektronik GmbH, BAE Systems plc, Bharat Dynamics Limited, China Shipbuilding Industry Corporation, Leonardo SpA, Naval Group, Raytheon Company, Saab AB, and Tactical Missiles Corporation JSC, among others.
Global Torpedo Market Company Profile
- Atlas Elektronik GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- BAE Systems plc
- Bharat Dynamics Limited
- China Shipbuilding Industry Corporation
- Leonardo SpA
- Naval Group
- Raytheon Company
- Saab AB
- Tactical Missiles Corporation JSC
Global Torpedo Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Torpedo Strategies
- Key Questions this Study will Answer
- Market Snippet, By Weight
- Market Snippet, By Launch Platform
- Market Snippet, By Propulsion
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Torpedo Market, By Weight, 2019 – 2029, (US$ Mn)
- Heavyweight Torpedoes
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Lightweight Torpedoes
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Heavyweight Torpedoes
- Global Torpedo Market, By Launch Platform, 2019 – 2029, (US$ Mn)
- Air-Launched
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Surface-Launched
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Underwater-Launched
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Air-Launched
- Global Torpedo Market, By Propulsion, 2019 – 2029, (US$ Mn)
- Electric Propulsion
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Conventional Propulsion
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Electric Propulsion
- Global Torpedo Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Weight, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Launch Platform, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Propulsion, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Weight, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Launch Platform, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Propulsion, 2019 – 2029Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Weight, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Launch Platform, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Propulsion, 2019 – 2029Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Weight, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Launch Platform, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Propulsion, 2019 – 2029Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Weight, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Launch Platform, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Propulsion, 2019 – 2029Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Atlas Elektronik GmbH
- Company Overview
- Weight Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- BAE Systems plc
- Bharat Dynamics Limited
- China Shipbuilding Industry Corporation
- Leonardo SpA
- Naval Group
- Raytheon Company
- Saab AB
- Tactical Missiles Corporation JSC
- Atlas Elektronik GmbH
-
- The Last Word
- Future Impact
- About Us
- Contact
List of Tables
TABLE List of data sources
TABLE Market drivers; Impact Analysis
TABLE Market restraints; Impact Analysis
TABLE Torpedo Market: Weight Snapshot (2019)
TABLE Segment Dashboard; Definition and Scope, by Weight
TABLE Global Torpedo Market, by Weight 2019-2029 (USD Million)
TABLE Torpedo Market: Launch Platform Snapshot (2019)
TABLE Segment Dashboard; Definition and Scope, by Launch Platform
TABLE Global Torpedo Market, by Launch Platform 2019-2029 (USD Million)
TABLE Torpedo Market: Propulsion Snapshot (2019)
TABLE Segment Dashboard; Definition and Scope, by Propulsion
TABLE Global Torpedo Market, by Propulsion 2019-2029 (USD Million)
TABLE Torpedo Market: Regional snapshot (2019)
TABLE Segment Dashboard; Definition and Scope, by Region
TABLE Global Torpedo Market, by Region 2019-2029 (USD Million)
TABLE North America Torpedo Market, by Country, 2019-2029 (USD Million)
TABLE North America Torpedo Market, by Weight, 2019-2029 (USD Million)
TABLE North America Torpedo Market, by Launch Platform, 2019-2029 (USD Million)
TABLE North America Torpedo Market, by Propulsion, 2019-2029 (USD Million)
TABLE Europe Torpedo Market, by Country, 2019-2029 (USD Million)
TABLE Europe Torpedo Market, by Weight, 2019-2029 (USD Million)
TABLE Europe Torpedo Market, by Launch Platform, 2019-2029 (USD Million)
TABLE North America Torpedo Market, by Propulsion, 2019-2029 (USD Million)
TABLE Asia Pacific Torpedo Market, by Country, 2019-2029 (USD Million)
TABLE Asia Pacific Torpedo Market, by Weight, 2019-2029 (USD Million)
TABLE Asia Pacific Torpedo Market, by Launch Platform, 2019-2029 (USD Million)
TABLE Asia Pacific Torpedo Market, by Propulsion, 2019-2029 (USD Million)
TABLE Latin America Torpedo Market, by Country, 2019-2029 (USD Million)
TABLE Latin America Torpedo Market, by Weight, 2019-2029 (USD Million)
TABLE Latin America Torpedo Market, by Launch Platform, 2019-2029 (USD Million)
TABLE Latin America Torpedo Market, by Propulsion, 2019-2029 (USD Million)
TABLE Middle East and Africa Torpedo Market, by Country, 2019-2029 (USD Million)
TABLE Middle East and Africa Torpedo Market, by Weight, 2019-2029 (USD Million)
TABLE Middle East and Africa Torpedo Market, by Launch Platform, 2019-2029 (USD Million)
TABLE Middle East and Africa Torpedo Market, by Propulsion, 2019-2029 (USD Million)
List of Figures
FIGURE Torpedo Market segmentation
FIGURE Market research methodology
FIGURE Value chain analysis
FIGURE Porter’s Five Forces Analysis
FIGURE Market Attractiveness Analysis
FIGURE COVID-19 Impact Analysis
FIGURE Pre & Post COVID-19 Impact Comparison Study
FIGURE Competitive Landscape; Key company market share analysis, 2019
FIGURE Weight segment market share analysis, 2019 & 2029
FIGURE Weight segment market size forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Launch Platform segment market share analysis, 2019 & 2029
FIGURE Launch Platform segment market size forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Propulsion segment market share analysis, 2019 & 2029
FIGURE Propulsion segment market size forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE End-user segment market share analysis, 2019 & 2029
FIGURE End-user segment market size forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Regional segment market share analysis, 2019 & 2029
FIGURE Regional segment market size forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE North America Torpedo Market share and leading players, 2019
FIGURE Europe Torpedo Market share and leading players, 2019
FIGURE Asia Pacific Torpedo Market share and leading players, 2019
FIGURE Latin America Torpedo Market share and leading players, 2019
FIGURE Middle East and Africa Torpedo Market share and leading players, 2019
FIGURE North America market share analysis by country, 2019
FIGURE U.S. Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Canada Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Europe Torpedo Market share analysis by country, 2019
FIGURE Germany Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Spain Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Italy Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE UK Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE France Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Rest of the Europe Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Asia Pacific Torpedo Market share analysis by country, 2019
FIGURE India Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE China Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Japan Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE South Korea Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Singapore Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Rest of APAC Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Latin America Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Latin America Torpedo Market share analysis by country, 2019
FIGURE Brazil Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Mexico Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Argentina Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Rest of LATAM Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Middle East and Africa Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Middle East and Africa Torpedo Market share analysis by country, 2019
FIGURE Saudi Arabia Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE United Arab Emirates Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)
FIGURE Rest of Middle East & Africa Torpedo Market size, forecast and trend analysis, 2019 to 2029 (USD Million)