Torpedo Market Share, Size, Trends, and Forecast by 2031

MARKET OVERVIEW

A torpedo is a self-powered underwater missile or weapon with an explosive warhead designed to blowup either from a submarine or a ship. It is sometimes dropped from an aircraft targeted to explode on attainment a target. A modern torpedo comprises sophisticated devices for controlling its direction and depth, as per a predetermined plan or to retaliate to signals received from an external source.

MARKET SCOPE

The "Global Torpedo Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Torpedo market with detailed market segmentation by weight, launch platform, and geography. The report provides key statistics on the market status of the leading Torpedo market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis of weight, the torpedo market is segmented into heavyweight torpedoes and lightweight torpedoes.
  
•   By launch platform, the torpedo market is bifurcated into sea-launched and air-launched.
  

MARKET DYNAMICS

Drivers:

•   rising military spending of several countries on sophisticated weapons due to growing conflicts.
  
•   rising terrorism threat worldwide, and issues concerning border security
  
•   development of indigenous torpedo
  

Restraints:

•   cost of sophisticated torpedo is too high for developing countries.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Torpedo market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porters five force analysis highlighting factors affecting the Torpedo market in these regions.

IMPACT OF COVID-19 ON TORPEDO MARKET

The outbreak of the COVID-19 has severely impacted the operations and sales of defense, aerospace, aviation and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios across the globe led to severe disruptions in the global supply chain. This disruption has hampered the operation of various suppliers of materials required in the manufacturing of torpedoes, thereby bringing down production. Furthermore, the lag in the supply of electronic components attached to torpedoes has resulted in declining production volumes of major market players.

MARKET PLAYERS

The report covers key developments in the Torpedo market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Torpedo market are anticipated to lucrative growth opportunities in the future with the rising demand for Torpedo in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Torpedo market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ASELSAN AS
  
•   Atlas Elektronik GmbH
  
•   BAE Systems
  
•   Honeywell International Inc.
  
•   Leonardo SpA
  
•   Lockheed Martin Corporation
  
•   Northrop Grumman Corporation
  
•   Raytheon Company
  
•   Rosoboronexport
  
•   Saab AB
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Torpedo Report Scope