Torpedo Market Revenue, Trends, Regional & Country Share, Key Factors, Trends &Posted by Nita on May 17th, 2022 The torpedo market is estimated to register a CAGR of around 4% during the forecast period of 2018 to 2023. Key Players The key players in the global torpedo market are BAE Systems plc (UK), Leonardo SpA (Italy), Saab AB (Sweden), Bharat Dynamics Limited (India), Naval Group (France), Raytheon Company (US), Atlas Elektronik GmbH (Germany), Tactical Missiles Corporation JSC (Russia), and China Shipbuilding Industry Corporation (China). Market Highlights The global torpedo market has been segmented based on operation, launch platform, propulsion, type, and region. Based on operation, the torpedo market is divided into autonomous and guided torpedo operations. The autonomous torpedo segment is estimated to account for the larger market share while the guided torpedo segment is projected to witness a higher CAGR during the forecast period. As the autonomous torpedo operations are extremely effective during combat operations, majorly due to its high-speed and highly-maneuverable capability, they accounted for the larger market share. Based on type, the Naval torpedo market is segmented into heavy weight and light weight torpedoes. As the heavy weight torpedoes can be equipped with lethal warheads and result in higher damage as compared to the light weight torpedoes, the heavy weight torpedo segment accounted for the larger market share, in 2017. Based on launch platform, the torpedo market is divided into aerial and naval platforms. The aerial platform covers aircraft and helicopters and the naval platform covers ships and submarines. As the naval platforms such as ships and submarines allow for the carriage of heavy weight torpedoes, therefore, the market segment accounted for the larger share, in 2017, as compared to their aerial counterparts that include helicopters and aircraft. Based on propulsion, the torpedo market is segmented into thermal powered and electric powered, among which the electric powered torpedoes dominated the market in 2017, as the electric propulsion makes the torpedo more lethal. Moreover, the electric powered torpedoes are very effective during naval combat operations. On the basis of region, the global torpedo market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. In 2017, North America accounted for the largest market share, and is also projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increasing expenses on missiles and rocket systems, along with the development of naval combat systems by the countries such as the US, in particular. As, a result, there is large demand of torpedoes on North America. Browse Complete Report @ https://www.marketresearchfuture.com/reports/torpedo-market-6952 About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services. The MRFR team has the supreme objective to provide optimum quality market research and intelligence services to our clients. Our market research studies by product, service, technology, application, end-user, and market players for the global, regional, and country-level market segments enable our clients to see more, know more, and do more, which helps answer their most pertinent questions. To stay updated with technology and work process in the industry, MRFR often plans and conducts meetings with industry experts and industrial visits by its research analysts. Contact: Market Research Future +1 646 845 9312 Like it? Share it! More by this author |