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 :