The global torpedo market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period (2024-2031). The global torpedo market is driven by the growing geopolitical tensions among countries that have heightened the demand for advanced naval defense systems, including torpedoes, to bolster maritime security. Technological advancements, such as the development of autonomous and guided torpedo systems, enhance accuracy and effectiveness in maritime defense and offense, further driving market growth. Additionally, the rising investments in naval modernization programs by various countries contribute to market expansion.
Browse the full report description of “Torpedo Market Size, Share & Trends Analysis Report by Weight (Lightweight Torpedoes and Heavyweight Torpedoes), by Launch Platform (Air-launched, Surface-launched, and Underwater-launched), and by Propulsion (Electric Propulsion and Conventional Propulsion) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/torpedo-market
In July2023, At IMDS-2023, Tactical Missiles Corporation introduced the UMT torpedo, deployable from helicopters, aircraft, and drones, targeting surface ships, submarines, and underwater drones. It features modern target detection and autonomous detonation, with specs including a 220mm caliber, weight up to 140 kg, 2 m length, 7 km range, and 27 knots speed. TMC also presented the ET-1E electric torpedo and Paket-E/NK anti-submarine system.
Further, in March 2022, Iran's Revolutionary Guards revealed new 'loitering torpedoes' at Bandar Abbas naval base, combining unmanned underwater vehicles (UUV) and guided torpedoes for covert attacks on enemy naval bases, ships, and offshore facilities. These hybrid weapons support Iran's gray zone strategy, enhancing its influence in distant conflict zones. With potential propulsion based on an electrical system, they boast stealth and endurance for extended missions.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Weight
o By Launch Platform
o By Propulsion
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes RTX Corp., BAE Systems, Northrop Grumman Corp., Mitsubishi Heavy Industries, Ltd. and Saab AB among others.
Key questions addressed by the report
Global Torpedo Market Report Segment
By Weight
By Launch platform
By Propulsion
Global Torpedo Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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