Torpedo Market: Increasing Deliveries of Naval Vessels and Submarines Will Boost

Posted by Rushikesh Pise on January 10th, 2020

The rising threats of terrorism around the world is a key factor driving the global torpedo market, says Fortune Business Insights in a report, titled “Global Torpedo Market Size, Share & Industry Analysis, By Weight (Heavyweight Torpedoes and Lightweight Torpedoes), By propulsion (Electric and Conventional), By Launch platform (Air-launched, Surface-launched, and Underwater-launched), and Regional Forecast, 2016-2024.” The global torpedo market was valued at USD 768.4 Million in 2018 is expected to reach USD 1,021.6 Million by 2024 at a CAGR of 5.6%.

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List of prominent companies that are operating in the global market are:

  •          Aselsan AS
  •          Atlas Elektronik GmbH
  •          BAE System PLC.
  •          Bharat Dynamics Limited.
  •          DCN International S.A.
  •          Honeywell International Inc.
  •          Leonardo SpA. 
  •          Lockheed Martin Corporation.
  •          Naval Group
  •          Northrop Grumman Corporation
  •          Raytheon Company.
  •          Rosoboronexport.
  •          Saab AB.
  •          Sechan Electronics Inc.

For instance, The Varunastra, an Indian advanced heavyweight anti-submarine torpedo, developed by the Naval Science and Technological Laboratory of the DRDO for the Indian Navy. The report notifies about the transitions and changes that occurred in recent times. It gives vast information and educates about the prevailing trends in the global torpedo market to assist companies in their growth and development process. The report comprises of a selection of data, involving industrial developments, market drivers, growth restraints and trends


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Rushikesh Pise

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Rushikesh Pise
Joined: November 4th, 2019
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