Global Torpedo Market to reach USD XX billion by 2027.Global Torpedo Market to reach USD XX billion by 2027.

Global Torpedo Market is valued approximately at USD XX billion in 2020 and is anticipated to grow at a healthy growth rate of more than 4% over the forecast period 2021-2027. Anti-warship and anti-submarine torpedoes are self-propelled and self-guided weapons. Torpedoes are primarily used underwater and are designed to detonate on contact with or around the target. Torpedoes are generally launched from submarines or warships, while they may also be launched from planes or helicopters. The submarine or warship released torpedoes which are heavier in weight while the same released from an aircraft or helicopters are lighter in weight. The market is driven by the k increasing military spending and increasing threat of terrorism and border issues. For instance, as per Statista, The United States led the ranking of countries with highest military spending in 2020, with USD 778 billion dedicated to the military. That amounted to 39 percent of the total military spending in the globe in 2020, which was USD 1.98 trillion. As of 2019, the United States' military spending accounted for 3.4 percent of its gross domestic product (GDP), ranking it behind Saudi Arabia, Israel, and Russia in terms of military spending as a percentage of GDP. However, Rise in development of ballistic missiles protected submarines, may impede market growth over the forecast period of 2021-2027.

The Asia-Pacific region is expected to grow at faster rate over the projection period, owing to the region's rapid increase in military spending as a result of continuous geopolitical difficulties and border tensions. Countries such as China, India, and Japan, among others, are expanding their current naval fleets by purchasing new warships and submarines and replacing old naval vessels.

Major market player included in this report are:
Raytheon Technologies Corporation
BAE Systems plc
Lockheed Martin Corporation
thyssenkrupp AG
Bharat Dynamics Limited
Northrop Grumman Corporation
Leonardo S.p.A.
Saab AB
Naval Group
ASELSAN AS




The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Weight:
Heavyweight Torpedoes
Lightweight Torpedoes
By Launch Platform:
Sea-launched
Air-launched
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Torpedo Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors