Torpedo Market

Global Torpedo Market Size, Trends & Analysis - Forecasts to 2028 By Product Type (Acoustic Homing and Wake Homing), By Propulsion Type (Electric and Thermal), By Weight Type (Heavyweight and Lightweight), By Launch Type (Surface-launched, Underwater-launched, and Air-launched), and By Region (North America, Asia Pacific, Central & South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and End User Analysis

Category Aerospace & Defence
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This report was recently updated on May 12 2024 with the latest and most recent market numbers

Global Torpedo Market Size

The global torpedo market is expected to grow at a CAGR of 5.5% from 2023 to 2028. The torpedo industry is involved in producing, developing, and distributing underwater weapons designed to target and destroy naval vessels. Torpedoes are self-propelled, guided projectiles capable of carrying explosive payloads, making them indispensable in modern maritime warfare. The industry encompasses many torpedo types, including lightweight torpedoes for anti-submarine warfare, heavyweight torpedoes for surface vessel attacks, and wire-guided torpedoes for precise targeting. With the continuous advancements in technology and evolving threats, the torpedo market remains dynamic, driven by the need for robust underwater defense systems worldwide.

The torpedo market is growing due to rising global geopolitical tensions, asymmetric warfare, and submarine proliferation. Governments and naval forces invest heavily in advanced torpedo systems to maintain maritime security. Other factors, such as increasing modernization programs to upgrade aging torpedoes and ongoing technological advancements, such as improved propulsion, guidance, and stealth features, are further driving market growth. The growing emphasis on autonomous underwater vehicles (AUVs) and unmanned underwater vehicles (UUVs) presents opportunities for torpedo manufacturers to develop advanced torpedoes compatible with these platforms.

The torpedo market offers numerous opportunities for market players to develop innovative underwater weapons, such as lightweight and heavyweight torpedoes with enhanced anti-submarine capabilities. The growing interest in autonomous underwater vehicles (AUVs) and unmanned underwater vehicles (UUVs) also presents significant opportunities for designing and integrating torpedoes tailored for these platforms. Moreover, collaboration between defense contractors and research institutions drives technological advancements in propulsion systems, guidance systems, and stealth technologies, again fuelling market growth. Furthermore, companies that can meet evolving requirements and provide reliable, cutting-edge torpedo solutions are well-positioned to succeed in this dynamic market.

global torpedo market

Global Torpedo Market: By Product Type

Based on product type, the market is segmented into acoustic homing and wake homing. The acoustic homing segment is expected to be the largest segment during the forecast period, owing to its effectiveness in detecting and tracking underwater targets using sound waves. Acoustic homing torpedoes are widely adopted for anti-submarine warfare, making it a dominant segment and preferred choice for naval forces worldwide.

Global Torpedo Market: By Propulsion Type

Based on propulsion type, the market is segmented into electric and thermal. The electric segment is expected to be the largest segment during the forecast period, owing to its numerous advantages, including quiet operation, longer endurance, and improved manoeuvrability. Electric propulsion systems offer enhanced stealth capabilities, making them highly desirable for modern naval warfare scenarios, thereby driving their market dominance.

Global Torpedo Market: By Weight Type

Based on weight type, the market is segmented into heavyweight and lightweight. The heavyweight segment is expected to hold the largest market share during the forecast period. Heavyweight torpedoes are designed to engage surface vessels in modern maritime warfare, driven by naval power projection and countering larger warships and submarines. Moreover, advancements in technology have enabled longer ranges, higher speeds, and improved target detection capabilities, making them a preferred choice for naval forces worldwide.

Global Torpedo Market: By Launch Type

Based on launch type, the market is segmented into surface-launched, underwater-launched, and air-launched. The surface-launched segment is projected to hold the largest market share in the market during the forecast period. Surface vessels, such as frigates, destroyers, and cruisers, form a significant portion of naval fleets worldwide. These vessels require effective self-defense capabilities, including the ability to launch torpedoes against submarines or other surface threats. Additionally, advancements in surface-launched torpedo systems, such as improved range, speed, and multi-mission capabilities, make them highly desirable for naval forces. Additionally, the need for versatile and flexible weapons systems that can be easily integrated into existing surface platforms is further propelling segment growth.

asia pacific torpedo market

Global Torpedo Market: By Region

Based on region, North America is expected to be the largest region in the global torpedo market during the forecast period. North America's defense spending, led by the US and Canada, drives the demand for advanced torpedo systems. The region's robust defense industry, with established manufacturers and contractors, benefits from domestic procurement programs. The geopolitical landscape, with extensive coastlines and strategic maritime interests, further amplifies the need for sophisticated torpedo capabilities. As a result, North America is witnessing strong growth, making it the largest region in the torpedo market.

Asia Pacific is expected to be the fastest-growing region in the global torpedo market. This is attributed to the increasing defense spending due to the rising geopolitical tensions and territorial disputes, contributing to the high demand for advanced naval capabilities, including torpedoes. Countries like China, India, and South Korea are actively modernizing their naval forces, which further fuels the regional market growth. Additionally, the APAC region has a significant concentration of maritime trade routes, making it crucial for maintaining maritime security. The need to protect vital sea lanes and ensure the safety of commercial vessels creates a strong demand for torpedoes in this region. Moreover, the increasing submarine activities and the need for robust anti-submarine warfare capabilities further drive the demand for advanced torpedoes. Overall, the combination of defense investments, maritime trade significance, and evolving security challenges positions the APAC region as the fastest-growing region in the global torpedo market.

Global Torpedo Market Share and Competitor Analysis

The key players operating in the market are Atlas Elektronik GmbH, Bae Systems, Honeywell International Inc., Leonardo S.p.A., Thyssenkrupp AG, Mitsubishi, Northrop Grumman, Raytheon Technologies, Saab AB, and Bharat Dynamics Limited, among others. The global torpedo market has witnessed several strategic alliances between companies to launch new products with added functionalities and maintain revenue share & profitability. Organic and inorganic growth strategies adopted by small players have been the highlight of this market.

Please note: This is not an exhaustive list of companies profiled in the report.

1          STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1    Strategic Opportunity & Attractiveness Analysis

1.1.1        Hot Revenue Pockets

1.1.2        Market Attractiveness Score

1.1.3        Revenue Impacting Opportunity

1.1.4        High Growing Region/Country

1.1.5        Competitor Analysis

1.1.6        Consumer Analysis

1.2    Global Market Estimates' View

1.3    Strategic Insights across Business Functions

1.3.1        For Chief Executive Officers

1.3.2        For Chief Marketing Officers

1.3.3        For Chief Strategy Officers

1.4    Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2          TECHNOLOGICAL TRENDS

2.1   Technological Adoption Rate

2.2   Current Trend Impact Analysis

2.3   Future Trend Impact Analysis

2.4   Data Metrics on Feed Stocks

3          GLOBAL MARKET OUTLOOK

3.1   Market Pyramid Analysis

3.1.1        Introduction

3.1.2        Adjacent Market Opportunities

3.1.3        Ancillary Market Opportunities

3.2   Demand Side Analysis

3.2.1        Market Drivers: Impact Analysis

3.2.2        Market Restraints: Impact Analysis

3.2.3        Market Opportunities: Impact Analysis

3.2.4        Market Challenges: Impact Analysis

3.3   Supply Side Analysis

3.3.1        Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2        SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3        Value Chain Analysis

3.3.4        Trend Analysis

3.3.5        Gap Analysis

3.3.6        Cost Analysis

4          GLOBAL TORPEDO MARKET, BY WEIGHT TYPE

4.1   Introduction

4.2   Torpedo Market: Weight Type Scope Key Takeaways

4.3   Revenue Growth Analysis, 2022 & 2028

4.4   Heavyweight

4.4.1        Heavyweight Market Estimates and Forecast, 2020-2028 (USD Billion)

4.5   Lightweight

4.5.1        Lightweight Market Estimates and Forecast, 2020-2028 (USD Billion)

5          GLOBAL TORPEDO MARKET, BY PROPULSION TYPE

5.1   Introduction

5.2   Torpedo Market: Propulsion Type Scope Key Takeaways

5.3   Revenue Growth Analysis, 2022 & 2028

5.4   Electric

5.4.1        Electric Market Estimates and Forecast, 2020-2028 (USD Billion)

5.5   Thermal

5.5.1        Thermal Market Estimates and Forecast, 2020-2028 (USD Billion)

6         GLOBAL TORPEDO MARKET, BY LAUNCH TYPE

6.1   Introduction

6.2   Torpedo Market: Launch Type Scope Key Takeaways

6.3   Revenue Growth Analysis, 2022 & 2028

6.4   Surface-launched

6.4.1        Surface-launched Market Estimates and Forecast, 2020-2028 (USD Billion)

6.5   Air-launched

6.5.1        Air-launchedMarket Estimates and Forecast, 2020-2028 (USD Billion)

6.6   Underwater-launched

6.6.1        Underwater-launched Market Estimates and Forecast, 2020-2028 (USD Billion)

7         GLOBAL TORPEDO MARKET, BY PRODUCT TYPE

7.1   Introduction

7.2   Torpedo Market: Product Type Scope Key Takeaways

7.3   Revenue Growth Analysis, 2022 & 2028

7.4   Acoustic Homing

7.4.1        Acoustic Homing Market Estimates and Forecast, 2020-2028 (USD Billion)

7.5   Wake Homing

7.5.1        Wake Homing Market Estimates and Forecast, 2020-2028 (USD Billion)

8          GLOBAL TORPEDO MARKET, BY REGION

8.1   Introduction

8.2   North America Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.2.1        By Weight Type

8.2.2        By Propulsion Type

8.2.3        By Launch Type

8.2.4        By Product Type  

8.2.5        By Country

8.2.5.1     U.S. Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.2.5.1.1        By Weight Type

8.2.5.1.2        By Propulsion Type

8.2.5.1.3        By Launch Type

8.2.5.1.4        By Product Type

8.2.5.2     Canada Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.2.5.2.1        By Weight Type

8.2.5.2.2        By Propulsion Type

8.2.5.2.3        By Launch Type

8.2.5.2.4        By Product Type

8.2.5.3     Mexico Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.2.5.3.1        By Weight Type

8.2.5.3.2        By Propulsion Type

8.2.5.3.3        By Launch Type

8.2.5.3.4        By Product Type

8.3   Europe Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.1        By Weight Type

8.3.2        By Propulsion Type

8.3.3        By Launch Type

8.3.4        By Product Type  

8.3.5        By Country

8.3.5.1     Germany Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.1.1        By Weight Type

8.3.5.1.2        By Propulsion Type

8.3.5.1.3        By Launch Type

8.3.5.1.4        By Product Type

8.3.5.2     U.K. Presered Flowers Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.2.1        By Weight Type

8.3.5.2.2        By Propulsion Type

8.3.5.2.3        By Launch Type

8.3.5.2.4        By Product Type

8.3.5.3     France Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.3.1        By Weight Type

8.3.5.3.2        By Propulsion Type

8.3.5.3.3        By Launch Type

8.3.5.3.4        By Product Type

8.3.5.4     Italy Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.4.1        By Weight Type

8.3.5.4.2        By Propulsion Type

8.3.5.4.3        By Launch Type

8.3.5.4.4        By Product Type

8.3.5.5     Spain Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.5.1        By Weight Type

8.3.5.5.2        By Propulsion Type

8.3.5.5.3        By Launch Type

8.3.5.5.4        By Product Type

8.3.5.6     Netherlands Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.6.1        By Weight Type

8.3.5.6.2        By Propulsion Type

8.3.5.6.3        By Launch Type

8.3.5.6.4        By Product Type

8.3.5.7     Rest of Europe Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.3.5.7.1        By Weight Type

8.3.5.7.2        By Propulsion Type

8.3.5.7.3        By Launch Type

8.3.5.7.4        By Product Type

8.4   Asia Pacific Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.1        By Weight Type

8.4.2        By Propulsion Type

8.4.3        By Launch Type

8.4.4        By Product Type  

8.4.5        By Country

8.4.5.1     China Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.1.1        By Weight Type

8.4.5.1.2        By Propulsion Type

8.4.5.1.3        By Launch Type

8.4.5.1.4        By Product Type

8.4.5.2     Japan Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.2.1        By Weight Type

8.4.5.2.2        By Propulsion Type

8.4.5.2.3        By Launch Type

8.4.5.2.4        By Product Type

8.4.5.3     India Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.3.1        By Weight Type

8.4.5.3.2        By Propulsion Type

8.4.5.3.3        By Launch Type

8.4.5.3.4        By Product Type

8.4.5.4     South Korea Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.4.1        By Weight Type

8.4.5.4.2        By Propulsion Type

8.4.5.4.3        By Launch Type

8.4.5.4.4        By Product Type

8.4.5.5     Singapore Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.5.1        By Weight Type

8.4.5.5.2        By Propulsion Type

8.4.5.5.3        By Launch Type

8.4.5.5.4        By Product Type

8.4.5.6     Malaysia Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.6.1        By Weight Type

8.4.5.6.2        By Propulsion Type

8.4.5.6.3        By Launch Type

8.4.5.6.4        By Product Type

8.4.5.7     Thailand Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.7.1        By Weight Type

8.4.5.7.2        By Propulsion Type

8.4.5.7.3        By Launch Type

8.4.5.7.4        By Product Type

8.4.5.8     Indonesia Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.8.1        By Weight Type

8.4.5.8.2        By Propulsion Type

8.4.5.8.3        By Launch Type

8.4.5.8.4        By Product Type

8.4.5.9     Vietnam Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.9.1        By Weight Type

8.4.5.9.2        By Propulsion Type

8.4.5.9.3        By Launch Type

8.4.5.9.4        By Product Type

8.4.5.10  Taiwan Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.10.1      By Weight Type

8.4.5.10.2      By Propulsion Type

8.4.5.10.3      By Launch Type

8.4.5.10.4      By Product Type

8.4.5.11  Rest of Asia Pacific Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.4.5.11.1      By Weight Type

8.4.5.11.2      By Propulsion Type

8.4.5.11.3      By Launch Type

8.4.5.11.4      By Product Type

8.5   Middle East and Africa Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.5.1        By Weight Type

8.5.2        By Propulsion Type

8.5.3        By Launch Type

8.5.4        By Product Type  

8.5.5        By Country

8.5.5.1     Saudi Arabia Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.5.5.1.1        By Weight Type

8.5.5.1.2        By Propulsion Type

8.5.5.1.3        By Launch Type

8.5.5.1.4        By Product Type

8.5.5.2     U.A.E. Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.5.5.2.1        By Weight Type

8.5.5.2.2        By Propulsion Type

8.5.5.2.3        By Launch Type

8.5.5.2.4        By Product Type

8.5.5.3     Israel Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.5.4.3.1        By Weight Type

8.5.4.3.2        By Propulsion Type

8.5.4.3.3        By Launch Type

8.5.5.3.4        By Product Type

8.5.5.4     South Africa Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.5.5.4.1        By Weight Type

8.5.5.4.2        By Propulsion Type

8.5.5.4.3        By Launch Type

8.5.5.4.4        By Product Type

8.5.5.5     Rest of Middle East and Africa Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.5.5.5.1        By Weight Type

8.5.5.5.2        By Propulsion Type

8.5.5.5.2        By Launch Type

8.5.5.5.4        By Product Type

8.6   Central & South America Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.6.1        By Weight Type

8.6.2        By Propulsion Type

8.6.3        By Launch Type

8.6.4        By Product Type

8.6.5        By Country

8.6.5.1     Brazil Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.6.5.1.1        By Weight Type

8.6.5.1.2        By Propulsion Type

8.6.5.1.3        By Launch Type

8.6.5.1.4        By Product Type

8.6.5.2     Argentina Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.6.5.2.1        By Weight Type

8.6.5.2.2        By Propulsion Type

8.6.5.2.3        By Launch Type

8.6.5.2.4        By Product Type

8.6.5.3     Chile Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.6.5.3.1        By Weight Type

8.6.5.3.2        By Propulsion Type

8.6.5.3.3        By Launch Type

8.6.5.5.4        By Product Type

8.6.5.4     Rest of Central & South America Torpedo Market Estimates and Forecast, 2020-2028 (USD Billion)

8.6.5.4.1        By Weight Type

8.6.5.4.2        By Propulsion Type

8.6.5.4.3        By Launch Type

8.6.5.4.4        By Product Type

9          COMPETITIVE LANDCAPE

9.1   Company Market Share Analysis

9.2   Four Quadrant Positioning Matrix

9.2.1        Market Leaders

9.2.2        Market Visionaries

9.2.3        Market Challengers

9.2.4        Niche Market Players

9.3   Vendor Landscape

9.3.1        North America

9.3.2        Europe

9.3.3        Asia Pacific

9.3.4        Rest of the World

9.4   Company Profiles  

9.4.1        Atlas Elektronik GmbH

9.4.1.1 Business Description & Financial Analysis

9.4.1.2 SWOT Analysis

9.4.1.3 Products & Services Offered

9.4.1.4 Strategic Alliances between Business Partners

9.4.2        BAE Systems

9.4.2.1 Business Description & Financial Analysis

9.4.2.2 SWOT Analysis

9.4.2.3 Products & Services Offered

9.4.2.4 Strategic Alliances between Business Partners

9.4.3        Leonardo S.p.A.

9.4.3.1 Business Description & Financial Analysis

9.4.3.2 SWOT Analysis

9.4.3.3 Products & Services Offered

9.4.3.4 Strategic Alliances between Business Partners

9.4.4        Thyssenkrupp AG

9.4.4.1 Business Description & Financial Analysis

9.4.4.2 SWOT Analysis

9.4.4.3 Products & Services Offered

9.4.4.4 Strategic Alliances between Business Partners

9.4.5        Mitsubishi

9.4.5.1 Business Description & Financial Analysis

9.4.5.2 SWOT Analysis

9.4.5.3 Products & Services Offered

9.4.5.4 Strategic Alliances between Business Partners

9.4.6        Northrop Grumman

9.4.6.1 Business Description & Financial Analysis

9.4.6.2 SWOT Analysis

9.4.6.3 Products & Services Offered

9.4.6.4 Strategic Alliances between Business Partners

9.4.7        Raytheon Technologies

9.4.7.1 Business Description & Financial Analysis

9.4.7.2 SWOT Analysis

9.4.7.3 Products & Services Offered

9.4.8.4 Strategic Alliances between Business Partners

9.4.8        Honeywell International Inc.

9.4.8.1 Business Description & Financial Analysis

9.4.8.2 SWOT Analysis

9.4.8.3 Products & Services Offered

9.4.8.4 Strategic Alliances between Business Partners

9.4.9        Saab AB

9.4.9.1 Business Description & Financial Analysis

9.4.9.2 SWOT Analysis

9.4.9.3 Products & Services Offered

9.4.9.4 Strategic Alliances between Business Partners

9.4.10      Other Companies

9.4.10.1 Business Description & Financial Analysis

9.4.10.2 SWOT Analysis

9.4.10.3 Products & Services Offered

9.4.10.4 Strategic Alliances between Business Partners

10        RESEARCH METHODOLOGY

10.1 Market Introduction

10.1.1      Market Definition

10.1.2      Market Scope & Segmentation

10.2 Information Procurement

10.2.1      Secondary Research

10.2.1.1           Purchased Databases

10.2.1.2           GMEs Internal Data Repository

10.2.1.3           Secondary Resources & Third Party Perspectives

10.2.1.4           Company Information Sources

10.2.2      Primary Research

10.2.2.1           Various Types of Respondents for Primary Interviews

10.2.2.2           Number of Interviews Conducted throughout the Research Process

10.2.2.3           Primary Stakeholders

10.2.2.4           Discussion Guide for Primary Participants

10.2.3      Expert Panels

10.2.3.1           Expert Panels Across 30+ Industry

10.2.4      Paid Local Experts

10.2.4.1           Paid Local Experts Across 30+ Industry Across each Region

10.3 Market Estimation

10.3.1      Top-Down Approach

10.3.1.1           Macro-Economic Indicators Considered

10.3.1.2           Micro-Economic Indicators Considered

10.3.2      Bottom Up Approach

10.3.2.1           Company Share Analysis Approach

10.3.2.2           Estimation of Potential Product Sales

10.4 Data Triangulation

10.4.1      Data Collection

10.4.2      Time Series, Cross Sectional & Panel Data Analysis

10.4.3      Cluster Analysis

10.5 Analysis and Output

10.5.1      Inhouse AI Based Real Time Analytics Tool

10.5.2      Output From Desk & Primary Research

10.6 Research Assumptions & Limitations

10.7.1      Research Assumptions

10.7.2      Research Limitations

LIST OF TABLES

1 Global Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

2 Heavyweight Market, By Region, 2020-2028 (USD Billion)  

3 Lightweight Market, By Region, 2020-2028 (USD Billion)    

4 Global Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)      

5 Electric Market, By Region, 2020-2028 (USD Billion)           

6 THERMAL Market, By Region, 2020-2028 (USD Billion)

7 Global Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

8 Surface-launched Market, By Region, 2020-2028 (USD Billion)    

9 Air-launchedMarket, By Region, 2020-2028 (USD Billion) 

10 Underwater-launched Market, By Region, 2020-2028 (USD Billion)           

11 Global Torpedo Market, By Product Type, 2020-2028 (USD Billion)

12 Acoustic Homing Market, By Region, 2020-2028 (USD Billion)        

13 Wake Homing Market, By Region, 2020-2028 (USD Billion) 

14 Regional Analysis, 2020-2028 (USD Billion)

15 North America Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

16 North America Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

17 North America Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

18 North America Torpedo Market, By Product Type, 2020-2028 (USD Billion)

19 North America Torpedo Market, By Country, 2020-2028 (USD Billion)

20 U.S Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

21 U.S Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

22 U.S Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

23 U.S Torpedo Market, By Product Type, 2020-2028 (USD Billion)

24 Canada Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

25 Canada Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

26 Canada Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

27 CANADA Torpedo Market, By Product Type, 2020-2028 (USD Billion)

28 Mexico Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

29 Mexico Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

30 Mexico Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

31 mexico Torpedo Market, By Product Type, 2020-2028 (USD Billion)

32 Europe Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

33 Europe Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

34 Europe Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

35 europe Torpedo Market, By Product Type, 2020-2028 (USD Billion)

36 europe Torpedo Market, By COUNTRY, 2020-2028 (USD Billion)

37 Germany Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

38 Germany Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

39 Germany Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

40 germany Torpedo Market, By Product Type, 2020-2028 (USD Billion)

41 UK Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

42 UK Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

43 UK Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

44 Uk Torpedo Market, By Product Type, 2020-2028 (USD Billion)

45 France Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

46 France Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

47 France Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

48 france Torpedo Market, By Product Type, 2020-2028 (USD Billion)

49 Italy Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

50 Italy Torpedo Market, By T Propulsion Type Type, 2020-2028 (USD Billion)

51 Italy Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

52 italy Torpedo Market, By Product Type, 2020-2028 (USD Billion)

53 Spain Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

54 Spain Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

55 Spain Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

56 spain Torpedo Market, By Product Type, 2020-2028 (USD Billion)

57 Rest Of Europe Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

58 Rest Of Europe Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

59 Rest of Europe Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

60 REST OF EUROPE Torpedo Market, By Product Type, 2020-2028 (USD Billion)

61 Asia Pacific Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

62 Asia Pacific Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

63 Asia Pacific Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

64 asia Torpedo Market, By Product Type, 2020-2028 (USD Billion)

65 Asia Pacific Torpedo Market, By Country, 2020-2028 (USD Billion)

66 China Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

67 China Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

68 China Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

69 china Torpedo Market, By Product Type, 2020-2028 (USD Billion)

70 India Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

71 India Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

72 India Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

73 india Torpedo Market, By Product Type, 2020-2028 (USD Billion)

74 Japan Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

75 Japan Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

76 Japan Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

77 japan Torpedo Market, By Product Type, 2020-2028 (USD Billion)

78 South Korea Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

79 South Korea Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

80 South Korea Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

81 south korea Torpedo Market, By Product Type, 2020-2028 (USD Billion)

82 Middle East AND Africa Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

83 Middle East AND Africa Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

84 Middle East AND Africa Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

85 MIDDLE EAST AND AFRICA Torpedo Market, By Product Type, 2020-2028 (USD Billion)

86 Middle East AND Africa Torpedo Market, By Country, 2020-2028 (USD Billion)

87 Saudi Arabia Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

88 Saudi Arabia Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

89 Saudi Arabia Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

90 saudi arabia Torpedo Market, By Product Type, 2020-2028 (USD Billion)

91 UAE Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

92 UAE Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

93 UAE Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

94 uae Torpedo Market, By Product Type, 2020-2028 (USD Billion)

95 Central & South America Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

96 Central & South America Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

97 Central & South America Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

98 CENTRAL & SOUTH AMERICA Torpedo Market, By Product Type, 2020-2028 (USD Billion)

99 Central & South America Torpedo Market, By Country, 2020-2028 (USD Billion)

100 Brazil Torpedo Market, By Weight Type, 2020-2028 (USD Billion)

101 Brazil Torpedo Market, By Propulsion Type, 2020-2028 (USD Billion)

102 Brazil Torpedo Market, By Launch Type, 2020-2028 (USD Billion)

103 brazil Torpedo Market, By Product Type, 2020-2028 (USD Billion)

104 Atlas Elektronik GmbH: Products & Services Offering

105 BAE Systems: Products & Services Offering             

106 Leonardo S.p.A.: Products & Services Offering      

107 Thyssenkrupp AG: Products & Services Offering  

108 Mitsubishi: Products & Services Offering 

109 NORTHROP GRUMMAN: Products & Services Offering            

110 Raytheon Technologies: Products & Services Offering    

111 Honeywell International Inc.: Products & Services Offering       

112 Saab AB, Inc: Products & Services Offering              

113 Other Companies: Products & Services Offering  

LIST OF FIGURES

1 Global Torpedo Market Overview

2 Global Torpedo Market Value From 2020-2028 (USD Billion)

3 Global Torpedo Market Share, By Weight Type (2022)

4 Global Torpedo Market Share, By Propulsion Type (2022)

5 Global Torpedo Market Share, By Launch Type (2022)

6 Global Torpedo Market Share, By Product Type (2022)

7 Global Torpedo Market, By Region (Asia Pacific Market)

8 Technological Trends In Global Torpedo Market

9 Four Quadrant Competitor Positioning Matrix

10 Impact Of Macro & Micro Indicators On The Market

11 Impact Of Key Drivers On The Global Torpedo Market

12 Impact Of Challenges On The Global Torpedo Market

13 Porter’s Five Forces Analysis

14 Global Torpedo Market: By Weight Type Scope Key Takeaways

15 Global Torpedo Market, By Weight Type Segment: Revenue Growth Analysis

16 Heavyweight Market, By Region, 2020-2028 (USD Billion)    

17 Lightweight Market, By Region, 2020-2028 (USD Billion)

18 Global Torpedo Market: By Propulsion Type Scope Key Takeaways

19 Global Torpedo Market, By Propulsion Type Segment: Revenue Growth Analysis

20 Electric Market, By Region, 2020-2028 (USD Billion)  

21 Thermal Market, By Region, 2020-2028 (USD Billion)

22 Global Torpedo Market: By Launch Type Scope Key Takeaways

23 Global Torpedo Market, By Launch Type Segment: Revenue Growth Analysis

24 Surface-launched Market, By Region, 2020-2028 (USD Billion)        

25 Air-launchedMarket, By Region, 2020-2028 (USD Billion)

26 Underwater-launched Market, By Region, 2020-2028 (USD Billion) 

27 Global Torpedo Market: By Product Type Scope Key Takeaways

28 Global Torpedo Market, By Product Type Segment: Revenue Growth Analysis

29 Acoustic Homing Market, By Region, 2020-2028 (USD Billion)         

30 Wake Homing Market, By Region, 2020-2028 (USD Billion)  

31 Regional Segment: Revenue Growth Analysis

32 Global Torpedo Market: Regional Analysis

33 North America Torpedo Market Overview

34 North America Torpedo Market, By Weight Type

35 North America Torpedo Market, By Propulsion Type

36 North America Torpedo Market, By Launch Type

37 North America Torpedo Market, By Product Type

38 North America Torpedo Market, By Country

39 U.S. Torpedo Market, By Weight Type

40 U.S. Torpedo Market, By Propulsion Type

41 U.S. Torpedo Market, By Launch Type

42 U.S. Torpedo Market, By Product Type

43 Canada Torpedo Market, By Weight Type

44 Canada Torpedo Market, By Propulsion Type

45 Canada Torpedo Market, By Launch Type

46 Canada Torpedo Market, By Product Type

47 Mexico Torpedo Market, By Weight Type

48 Mexico Torpedo Market, By Propulsion Type

49 Mexico Torpedo Market, By Launch Type

50 Mexico Torpedo Market, By Product Type

51 Four Quadrant Positioning Matrix

52 Company Market Share Analysis

53 Atlas Elektronik GmbH: Company Snapshot

54 Atlas Elektronik GmbH: SWOT Analysis

55 Atlas Elektronik GmbH: Geographic Presence

56 BAE Systems: Company Snapshot

57 BAE Systems: SWOT Analysis

58 BAE Systems: Geographic Presence

59 Leonardo S.p.A.: Company Snapshot

60 Leonardo S.p.A.: SWOT Analysis

61 Leonardo S.p.A.: Geographic Presence

62 Thyssenkrupp AG: Company Snapshot

63 Thyssenkrupp AG: Swot Analysis

64 Thyssenkrupp AG: Geographic Presence

65 Mitsubishi: Company Snapshot

66 Mitsubishi: SWOT Analysis

67 Mitsubishi: Geographic Presence

68 Northrop Grumman: Company Snapshot

69 Northrop Grumman: SWOT Analysis

70 Northrop Grumman: Geographic Presence

71 Raytheon Technologies: Company Snapshot

72 Raytheon Technologies: SWOT Analysis

73 Raytheon Technologies: Geographic Presence

74 Honeywell International Inc.: Company Snapshot

75 Honeywell International Inc.: SWOT Analysis

76 Honeywell International Inc.: Geographic Presence

77 Saab AB, Inc.: Company Snapshot

78 Saab AB, Inc.: SWOT Analysis

79 Saab AB, Inc.: Geographic Presence

80 Other Companies: Company Snapshot

81 Other Companies: SWOT Analysis

82 Other Companies: Geographic Presence

The Global Torpedo Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

Torpedo Market Size

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Torpedo Market.

Torpedo Market Growth

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Torpedo Market Trends

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

Torpedo Market Share

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Frequently Asked Questions

The global torpedo market is expected to grow at a CAGR of 5.5% from 2023 to 2028.
The key players operating in the market are Atlas Elektronik GmbH, Bae Systems, Honeywell International Inc., Leonardo S.p.A., Thyssenkrupp AG, Mitsubishi, Northrop Grumman, Raytheon Technologies, Saab AB, and Bharat Dynamics Limited, among others.
The torpedo market presents opportunities for manufacturers to develop innovative underwater weapons, collaborate with research institutions, and cater to the growing demand for advanced torpedoes for AUVs and UUVs.
The torpedo market is growing due to increasing geopolitical tensions, asymmetric warfare, and submarine proliferation. Investments in advanced systems, modernization programs, and technological advancements further fuel the market growth. AUVs and UUVs offer opportunities for developing torpedoes compatible with these platforms.

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