Torpedo Market Scenario: —
Torpedo is an underwater missile designed to detonate when it encounters a target or when it reaches around the vicinity of the target. Torpedoes are one among the most preferred lethal underwater weapons. Less than ten countries around the world have the capability to design and build torpedo indigenously. Modern torpedoes can carry nuclear warheads. Torpedoes can be launched from a variety of platforms.
Torpedoes typically propell underwater towards a target. It can be launched from above through fixed-wing aircraft and helicopters, form the water surface through ships and below the water surface through submarines. The torpedoes launched form aerial platform falls into the light weight category while the ones launched from naval platforms falls into the heavy weight category. Furthermore, modern torpedoes can operate autonomously and can be propelled using thermal and electric power.
Focus on enhancing military capabilities and subsequent procurement of lethal weapons to gain superiority over enemy during naval and littoral combat is the key factor driving the growth of torpedo market. In addition, increased investments in torpedo upgrade programs worldwide and focus on developing torpedoes indigenously boosts the market growth. Furthermore, focus on integrating submarines to strengthen naval fleet by countries around the world creates promising growth opportunities for the market players. However, the defense budget cuts in developed economies hinders the market growth.
The Global Torpedo Market has also been segmented into four regions, namely, North America, Europe, Asia-Pacific, and Rest of the World. North America is estimated to account for the largest share during the review period owing to the focus of defense organizations to upgrade the electronics and control system of torpedoes. Furthermore, increasing focus on developing ship combat systems in the US and Canada are contributing to the high demand for torpedoes in the North America. The Torpedo Market is estimated to register a CAGR of around 4% during the forecast period of 2018 to 2023.
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Torpedo Market Key Players
The key players in the Global Torpedo Market are:
• Atlas Elektronik GmbH (Germany)
• BAE Systems plc (UK)
• Bharat Dynamics Limited (India)
• China Shipbuilding Industry Corporation (China)
• Leonardo SpA (Italy)
• Naval Group (France)
• Raytheon Company (US)
• Saab AB (Sweden)
• Tactical Missiles Corporation JSC (Russia)
Torpedo Market Is Estimated to Register A CAGR Of Around 4% During the Forecast Period Of 2018 To 2023.
• Torpedo Manufacturers
• Aircraft OEMs
• Naval Vessel OEMs
• Torpedo Launch System Providers
• Electronic Component Suppliers
• Defense Contractors
• Research Institutes
• Regulatory Bodies
The report on Global Torpedo Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance.
The report offers a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value, and the technological, macroeconomic, and governing factors of the market. The report also provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Table Of Contents
Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.2.3. List Of Assumptions
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
List of Figures
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approaches
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter's Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Torpedo Market Share, By Operation, 2017 (%)
FIGURE 9 Global Torpedo Market, By Operation, 2018–2023 (USD Million)
FIGURE 10 Global Torpedo Market Share, By Launch Platform, 2017 (%)
FIGURE 11 Global Torpedo Market, By Launch Platform, 2018–2023 (USD Million)
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