What is the current Torpedo Market size?

The Torpedo Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029) Read More

Who are the key players in Torpedo Market?

Saab AB, Leonardo S.p.A., BAE Systems plc, Raytheon Technologies Corporation and Naval Group are the major companies operating in the Torpedo Market. Read More

Which is the fastest growing region in Torpedo Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Torpedo Market?

In 2024, the North America accounts for the largest market share in Torpedo Market. Read More

What years does this Torpedo Market cover?

The report covers the Torpedo Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Torpedo Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Torpedo Market Share

Statistics for the 2023 & 2024 Torpedo market share, created by Mordor Intelligence™ Industry Reports. Torpedo share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Torpedo Industry

Some of the prominent players in the market are Saab AB, Leonardo SpA, BAE Systems PLC, Raytheon Technologies Corporation, and Naval Group. In addition to global players, with the growing demand for domestic manufacturing, companies like Bharat Dynamics Limited, LIG Nex1 Co. Ltd, and Mitsubishi Heavy Industries Ltd have been gradually increasing their presence in the market. The companies are investing in the development of new torpedoes with high lethal capabilities and range, which is expected to help them gain new customers and increase their presence in the market. In this regard, in November 2021, Leonardo announced that the company introduced an enhanced variant of A244/S light-weight torpedoes (LWT) called Mod 4 as a new production weapon system. The upgrade to Mod 4 is expected to increase the maximum speed to over 40 knots at max operational depth. Furthermore, the collaborations between suppliers are expected to increase the concentration in the market and strengthen the control over the market's supply chain in the coming years.