Torpedo Market Size, Share, Analysis and Forecasts To 2021
Market Research Analysts forecast global torpedo market to grow at a CAGR of 3.04 % during the period 2017-2021.
According to the report, one of the major drivers for this market is advancements in undersea warfare. With rapid technical advancements happening in the field of undersea warfare, it is expected that the existing fleet of submarines would be replaced with more powerful and lethal ones. It is expected that close to 300 submarines will be present in the Indo-Pacific by 2030
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Further, the report states that one of the major factors hindering the growth of this market is focus on development of advanced submarine-launched ballistic missiles. Governments across the globe are seen increasing their investments on submarine-launched ballistic missiles( SLBMs) that usually have a higher impact, are faster, and have long-range capabilities. SLBMs also provide the flexibility of being launched from a torpedo tube.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Torpedo
Torpedoes are anti-submarine and anti-warship weapons used by navies across the globe with systems that are self-propelled and guided projectiles. These are operated mostly underwater and are designed to detonate on contact or in proximity to a target. Torpedoes may be launched from surface ships, submarines, fixed-wing aircraft, or helicopters. Torpedoes that are launched from warships or submarines are usually heavyweight torpedoes and the ones launched from aircraft are lightweight torpedoes.
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Covered in this report
The report covers the present scenario and the growth prospects of the global torpedo market for 2017-2021. To calculate the market size, the report considers the torpedo procurement deals and the investment by each of the three regions( Americas, EMEA, and APAC) into manufacturing and acquiring torpedoes. The market is divided into the following segments based on geography: