The global torpedo market size reached USD 1.09 billion in 2024. Looking forward, the publisher expects the market to reach USD 1.53 billion by 2033, exhibiting a growth rate (CAGR) of 3.57% during 2025-2033.
A torpedo is a cigar-shaped, self-propelled underwater weapon that is launched from a submarine, ship or an aircraft to rupture the hulls of other submarines and surface vessels. It is one of the most preferred weapons that are utilized in marine warfare. The torpedo comprises intricate devices for controlling the depth and direction according to the signals received from an outside source and detonating the explosive-filled warhead when it strikes the target or comes close to it. At present, the demand for torpedoes is continuously rising owing to the growing threat of terrorism across the globe.
2. What is the expected growth rate of the global torpedo market during 2025-2033?
3. What are the key factors driving the global torpedo market?
4. What has been the impact of COVID-19 on the global torpedo market?
5. What is the breakup of the global torpedo market based on the weight?
6. What is the breakup of the global torpedo market based on the launch platform?
7. What is the breakup of the global torpedo market based on propulsion?
8. What are the key regions in the global torpedo market?
9. Who are the key players/companies in the global torpedo market?
A torpedo is a cigar-shaped, self-propelled underwater weapon that is launched from a submarine, ship or an aircraft to rupture the hulls of other submarines and surface vessels. It is one of the most preferred weapons that are utilized in marine warfare. The torpedo comprises intricate devices for controlling the depth and direction according to the signals received from an outside source and detonating the explosive-filled warhead when it strikes the target or comes close to it. At present, the demand for torpedoes is continuously rising owing to the growing threat of terrorism across the globe.
Torpedo Market Trends and Drivers:
The rising conflicts among different countries are encouraging governing agencies to increase their investments in the defense and military sector. This represents one of the major factors bolstering the global torpedo market growth. Besides this, they are also spending on the upgradation of their existing naval systems, especially the developed economies, which is positively influencing the sales of torpedoes. Furthermore, the introduction of advanced technologies, such as electric propulsion, advanced navigation and mini torpedoes, is escalating the market growth. Among these, electric propulsion torpedoes are currently gaining preference around the world on account of their advanced capabilities, such as high speed and fewer vibrations. Apart from this, the increasing investments in the research and development (R&D) activities to improve connectivity between submarines and weapons, intelligent controllers and ultra-broadband arrays are expected to strengthen the market growth in the upcoming years.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global torpedo market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on weight, launch platform, and propulsion.Breakup by Weight:
- Heavyweight Torpedoes
- Lightweight Torpedoes
Breakup by Launch Platform:
- Sea-launched
- Surface-launched
- Underwater-launched
- Air-launched
Breakup by Propulsion:
- Electric
- Conventional
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Aselsan, Atlas Elektronik GmbH, BAE Systems, Bharat Dynamics Limited, Leonardo SpA, Lockheed Martin Corporation, Naval Group, Northrop Grumman Corporation, Raytheon Company, Rosoboronexport, Saab AB, etc.Key Questions Answered in This Report
1. What was the size of the global torpedo market in 2024?2. What is the expected growth rate of the global torpedo market during 2025-2033?
3. What are the key factors driving the global torpedo market?
4. What has been the impact of COVID-19 on the global torpedo market?
5. What is the breakup of the global torpedo market based on the weight?
6. What is the breakup of the global torpedo market based on the launch platform?
7. What is the breakup of the global torpedo market based on propulsion?
8. What are the key regions in the global torpedo market?
9. Who are the key players/companies in the global torpedo market?
Table of Contents
1 Preface2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Torpedo Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Weight
6.1 Heavyweight Torpedoes
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lightweight Torpedoes
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Launch Platform
7.1 Sea-launched
7.1.1 Market Trends
7.1.2 Major Types
7.1.2.1 Surface-launched
7.1.2.2 Underwater-launched
7.1.3 Market Forecast
7.2 Air-launched
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Propulsion
8.1 Electric
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Conventional
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
11.1 Overview
11.2 Inbound Logistics
11.3 Operations
11.4 Outbound Logistics
11.5 Marketing and Sales
11.6 Post Sales Services
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Indicators
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Aselsan
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Atlas Elektronik GmbH
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.3 BAE Systems
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 Bharat Dynamics Limited
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.5 Leonardo SpA
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Lockheed Martin Corporation
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Naval Group
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.8 Northrop Grumman Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Raytheon Company
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Rosoboronexport
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Saab AB
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
List of Figures
Figure 1: Global: Torpedo Market: Major Drivers and Challenges
Figure 2: Global: Torpedo Market: Sales Value (in Million USD), 2019-2024
Figure 3: Global: Torpedo Market: Breakup by Weight (in %), 2024
Figure 4: Global: Torpedo Market: Breakup by Launch Platform (in %), 2024
Figure 5: Global: Torpedo Market: Breakup by Propulsion (in %), 2024
Figure 6: Global: Torpedo Market: Breakup by Region (in %), 2024
Figure 7: Global: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 8: Global: Torpedo (Heavyweight Torpedoes) Market: Sales Value (in Million USD), 2019 & 2024
Figure 9: Global: Torpedo (Heavyweight Torpedoes) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 10: Global: Torpedo (Lightweight Torpedoes) Market: Sales Value (in Million USD), 2019 & 2024
Figure 11: Global: Torpedo (Lightweight Torpedoes) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 12: Global: Torpedo (Sea-launched) Market: Sales Value (in Million USD), 2019 & 2024
Figure 13: Global: Torpedo (Sea-launched) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 14: Global: Torpedo (Air-launched) Market: Sales Value (in Million USD), 2019 & 2024
Figure 15: Global: Torpedo (Air-launched) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 16: Global: Torpedo (Electric) Market: Sales Value (in Million USD), 2019 & 2024
Figure 17: Global: Torpedo (Electric) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 18: Global: Torpedo (Conventional) Market: Sales Value (in Million USD), 2019 & 2024
Figure 19: Global: Torpedo (Conventional) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 20: North America: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 21: North America: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 22: United States: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 23: United States: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 24: Canada: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 25: Canada: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 26: Asia Pacific: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 27: Asia Pacific: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 28: China: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 29: China: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 30: Japan: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 31: Japan: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 32: India: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 33: India: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 34: South Korea: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 35: South Korea: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 36: Australia: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 37: Australia: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 38: Indonesia: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 39: Indonesia: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 40: Others: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 41: Others: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 42: Europe: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 43: Europe: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 44: Germany: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 45: Germany: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 46: France: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 47: France: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 48: United Kingdom: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 49: United Kingdom: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 50: Italy: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 51: Italy: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 52: Spain: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 53: Spain: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 54: Russia: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 55: Russia: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 56: Others: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 57: Others: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 58: Latin America: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 59: Latin America: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 60: Brazil: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 61: Brazil: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 62: Mexico: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 63: Mexico: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 64: Others: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 65: Others: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 66: Middle East and Africa: Torpedo Market: Sales Value (in Million USD), 2019 & 2024
Figure 67: Middle East and Africa: Torpedo Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 68: Global: Torpedo Industry: SWOT Analysis
Figure 69: Global: Torpedo Industry: Value Chain Analysis
Figure 70: Global: Torpedo Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Torpedo Market: Key Industry Highlights, 2024 and 2033
Table 2: Global: Torpedo Market Forecast: Breakup by Weight (in Million USD), 2025-2033
Table 3: Global: Torpedo Market Forecast: Breakup by Launch Platform (in Million USD), 2025-2033
Table 4: Global: Torpedo Market Forecast: Breakup by Propulsion (in Million USD), 2025-2033
Table 5: Global: Torpedo Market Forecast: Breakup by Region (in Million USD), 2025-2033
Table 6: Global: Torpedo Market: Competitive Structure
Table 7: Global: Torpedo Market: Key Players
Companies Mentioned
- Aselsan
- Atlas Elektronik GmbH
- BAE Systems
- Bharat Dynamics Limited
- Leonardo SpA
- Lockheed Martin Corporation
- Naval Group
- Northrop Grumman Corporation
- Raytheon Company
- Rosoboronexport and Saab AB
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | August 2025 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 1.09 Billion |
| Forecasted Market Value ( USD | $ 1.53 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
