Dublin, July 09, 2024 (GLOBE NEWSWIRE) -- The "Torpedo - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Torpedo was valued at an estimated US$1.2 Billion in 2023 and is projected to reach US$1.4 Billion by 2030, growing at a CAGR of 2.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Several important trends are influencing the torpedo market, driven by technological advancements and evolving defense priorities. Enhanced sensors and communication systems are being integrated into torpedoes, improving their target detection and tracking capabilities. Innovations have resulted in torpedoes with greater speed, precision, and stealth, making them more effective in diverse combat scenarios. The market is also witnessing significant investments in research and development, leading to the creation of lightweight and smart torpedoes that can be deployed from various platforms, including submarines, surface vessels, and aircraft.
Moreover, geopolitical tensions and regional conflicts have led countries to strengthen their naval forces, boosting demand for modern torpedoes. Regions such as North America, Europe, and Asia Pacific are experiencing significant growth in the torpedo market due to their substantial defense spending and ongoing modernization efforts. Overall, the torpedo market is expected to continue growing, driven by technological innovations, increased defense budgets, and the strategic necessity for advanced naval defense capabilities.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Surface-Based Platform segment, which is expected to reach US$983.7 Million by 2030 with a CAGR of a 2.7%. The Underwater Platform segment is also set to grow at 2.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $330.0 Million in 2023, and China, forecasted to grow at an impressive 5.1% CAGR to reach $287.9 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Torpedo Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Aselsan A.S., Atlas Elektronik GmbH, BAE Systems PLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 295 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.2 Billion |
| Forecasted Market Value (USD) by 2030 | $1.4 Billion |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Torpedo - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Geopolitical Tensions Generate Demand for Advanced Torpedo Systems
- Enhanced Detection and Stealth Capabilities Drive Adoption
- Naval Modernization Programs Expand Addressable Market Opportunity
- Increased Defense Budgets Accelerate Demand for Cutting-Edge Torpedoes
- Integration with Unmanned Underwater Vehicles (UUVs) Spurs Growth
- Adoption of Artificial Intelligence and Machine Learning Throws the Spotlight on Autonomous Torpedoes
- Focus on Anti-Submarine Warfare (ASW) Strengthens Business Case for Advanced Torpedo Technologies
- Upgrades in Sonar Systems Drive Adoption of Modern Torpedoes
- Advancements in Propulsion Technologies Generate Opportunities
- Cybersecurity Measures in Torpedo Systems Drive Confidence and Adoption
- R&D Investments in Torpedo Technologies Sustain Competitive Edge
- Rising Maritime Security Concerns Generate Demand for Advanced Torpedoes
- Global Naval Conflicts and Tensions Propel Market Growth
- Integration with Advanced Navigation Systems Strengthens Business Case for Modern Torpedoes
- Innovations in Explosive Materials Drive Demand for Enhanced Torpedoes
- Shift towards Electrically Powered Torpedoes Expands Market Opportunities
- Advanced Manufacturing Technologies Generate Opportunities for High-Precision Torpedoes
FOCUS ON SELECT PLAYERS (Total 61 Featured)
- Aselsan A.S.
- Atlas Elektronik GmbH
- BAE Systems PLC
- Bharat Dynamics Limited
- FINCANTIERI SpA
- General Dynamics Corporation
- Lockheed Martin Corporation
- Mitsubishi Heavy Industries Ltd.
- Naval Group
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Ltd.
- Raytheon Technologies Corporation
- SAAB AB
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/vpyjwe
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