Global Market Size, Forecast, and Trend Highlights Over 2025-2037
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. In the year 2025, the industry size of torpedo is evaluated at USD 1.16 billion.
Increasing investments in underwater warfare equipment and growing conflicts among countries along with the emergence of advanced technologies in marine war capabilities are some of the significant factors boosting the market growth.
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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.
