Torpedo Market

Torpedoes are self-propelled underwater missiles that can be launched from a submarine, surface vessel, or aircraft and explode upon impact with their target. Torpedoes can be employed for a variety of tasks, such as assaulting rival ships, submarines, or submerged infrastructure. Although torpedoes exist in a variety of sizes and configurations, they all generally have the same components: a warhead, a propulsion system, a guidance system, and control surfaces. The propulsion system gives the required speed and range to reach the target, while the warhead includes explosives that are detonated upon collision.

Latest trends:
Naval operations are using UUVs increasingly regularly, and many of these craft are armed with torpedoes or other underwater weaponry.

Torpedoes that can be launched from a variety of platforms, including unmanned vehicles, are being developed by numerous businesses.

Torpedoes are becoming more accurate and efficient in challenging underwater situations because of advancements in guidance systems.

Drivers:
Modern torpedoes are in greater demand as a result of numerous nations upgrading their naval fleets. Torpedoes that can be deployed in littoral waters and against tiny vessels are more necessary now than ever before due to the threat of terrorism and asymmetric warfare. Torpedo demand has increased as a result of the necessity for more naval warships to protect shipping channels brought on by the expansion of maritime traffic.

Risks:
Torpedo demand may be constrained in some areas because of its high development and production costs. Government support for research and development, which is impacted by political or financial constraints, is extremely dependent on the torpedo market. International laws and restrictions on torpedo use can prevent them from being used in some areas or for particular purposes.

Raytheon Technologies Corporation, BAE Systems plc, Lockheed Martin Corporation, Thyssenkrupp AG, Bharat Dynamics Limited, Northrop Grumman Corporation, and Leonardo S.p.A. were among the major market participants.