Torpedo Market By Type ( Electrical Power Torpedo, Thermal Power Torpedo ), By Application ( Naval Vessel-Launched Torpedo, Aerial Platform-Launched Torpedo ), Industry Trends, Estimation & Forecast, 2017 - 2025
Torpedo Market is expected to grow with a CAGR of 3.97% during the forecast period of 2018 to 2025.
Torpedoes are well-developed weapons which are being used for critical marine operations since the last century. Torpedoes are guided missiles which are capable enough of making rapid movements under the water, just like the way, a missile does in air. This becomes possible because of the highly advanced propulsion systems present in them along with the guiding and navigation device installed within the body. Earlier, torpedoes had to carry an oxidizer within them, but now a days the propulsion systems of torpedoes use such fuels that do not need an oxidizer. OTTO fuel is one such example which holds its own oxidizer mixed within it.
These intelligent weapons are equipped with such a technology that they can travel a continuous run of 10 to 20 minutes in order to reach their target. The continuous advancement of torpedoes from heavy weight torpedoes to light-weighted compact torpedoes has expanded its application base among all the major navies of the world. Moreover, the emergence of hybrid torpedoes which can be launched from aircrafts, ships and submarines, is working as an alluring agent for the naval authorities to deploy more number of such weapons within their naval forces. Apart from that, the emergence of advanced propulsion systems which generate least vibrations and noise, is also acting as a major stimulating agent for the growth of the market. In addition, a continuous growth in the tensions generated due to the border disputes regarding maritime boundaries is emerging out as the most prevalent factor, propelling the demand for naval weapons all over the globe. However, there exists some factors which might restrain the growth of this market as well.
High cost of torpedoes, extensive requirement of highly precise launching systems and, chances of humungous destruction in case of malfunctioning are some of the major restraint to the market growth. On the other hand continuous R&D activities being conducted by the countries such as Russia and the U.S. for the development of naval missiles such as MK 48, will substantially act as a lucrative opportunity for the very market to grow rapidly.
The report provides detailed qualitative and quantitative analysis of the torpedo market. Market size and forecast in terms of value and volume has been provided for the period - (2017 - 2025), for the segment namely type and applications in each of the major regions.
Torpedo Market Player Analysis -
The report presents detailed analysis of major players operating in torpedo market. Few of the include Atlas Elektronik, BAE Systems, Lockheed Martin, Raytheon, Saab, Bharat Dynamics Limited (BDL), DCNS, Honeywell International, Leonardo-Finmeccanica, and Orbital ATK. Detailed coverage on these market players with information on their revenue from torpedo business, market share, and their growth strategies have been provided in the report.
The global torpedo market is segmented on the basis of type, application and geography. By type, the market is segmented into electrical power torpedo and thermal power torpedo. On the basis of application, the market is segregated into naval vessel-launched torpedo and aerial platform-launched torpedo. Geographical coverage has been provided for each of the major regions including North America, Europe, China, Japan, and Rest of the World.
Torpedo Market Segmentation
• Electrical Power Torpedo
• Thermal Power Torpedo
• Naval Vessel-Launched Torpedo
• Aerial Platform-Launched Torpedo
• North America
• Rest of the World
Torpedo Market Key Players
• Atlas Elektronik
• BAE Systems
• Lockheed Martin
• Bharat Dynamics Limited (BDL)
• Honeywell International
• Orbital ATK