Torpedo Segmentation
The torpedo market is segmented by launch platforms into aerial, naval and land. Among these segments, the segment for naval is anticipated to hold the leading share in the market on account of the development of new unmanned underwater vessels as well as the ability of this platform to carry heavy weight torpedoes.
Our in-depth analysis of the global market includes the following segments:
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By Launch Platforms |
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By Propulsion |
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By Operation |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of torpedo is evaluated at USD 1.16 billion.
Torpedo Market size was valued at USD 1.11 billion in 2024 and is expected to reach USD 2.31 billion by 2037, registering around 5.8% CAGR during the forecast period i.e., between 2025-2037.
North America industry is estimated to dominate majority revenue share by 2037, as development of innovative technologies as well as huge investments in naval procurements combined with the growing emphasis on developing ship combat systems are met in the region.
The major players in the market are Lockheed Martin Corporation, Leonardo S.p.A, Raytheon Technologies Corporation, Rosoboronexport, Saab AB, BAE Systems, Bharat Dynamics Ltd., Atlas Elektronik GmbH, and others.
