Torpedo Market, By Weight (Heavyweight Torpedoes, and Lightweight Torpedoes), By Launch Platform (Air-Launched, Surface-Launched and Underwater-Launched), By Propulsion (Electric Propulsion and Conventional Propulsion), – By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2029

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.

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. 

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:

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 torpedo market report based on weight, launch platform, propulsion and region.

Torpedo Market, By Weight:

• Heavyweight Torpedoes

• Lightweight Torpedoes

Torpedo Market, By Launch Platform:

• Air-Launched

• Surface-Launched
• Underwater-Launched

Torpedo Market, By Propulsion:

• Electric Propulsion

• Conventional Propulsion

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

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.

• 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

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. 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
3. Market Preview
   • 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
4. 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
5. Market Segmentation, 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
6. Market Segmentation, 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
7. Market Segmentation, 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
8. Global 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
9. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
10. 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
11. The Last Word
    • Future Impact
    • About Us
    • Contact