Growth Factors of Torpedo Market Size, Share, trends and Forecast 2020-2026

The rising threats of terrorism around the world is a key factor driving the global torpedo market, says Fortune Business Insights in a report, titled “Global Torpedo Market Size, Share & Industry Analysis, By Weight (Heavyweight Torpedoes and Lightweight Torpedoes), By propulsion (Electric and Conventional), By Launch platform (Air-launched, Surface-launched, and Underwater-launched), and Regional Forecast, 2016-2024.” The global torpedo market was valued at USD 768.4 Million in 2018 is expected to reach USD 1,021.6 Million by 2024 at a CAGR of 5.6%.

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List of prominent companies that are operating in the global market are:
• Aselsan AS
• Atlas Elektronik GmbH
• BAE System PLC.
• Bharat Dynamics Limited.
• DCN International S.A.
• Honeywell International Inc.
• Leonardo SpA.
• Lockheed Martin Corporation.
• Naval Group
• Northrop Grumman Corporation
• Raytheon Company.
• Rosoboronexport.
• Saab AB.
• Sechan Electronics Inc.

For instance, The Varunastra, an Indian advanced heavyweight anti-submarine torpedo, developed by the Naval Science and Technological Laboratory of the DRDO for the Indian Navy. The report notifies about the transitions and changes that occurred in recent times. It gives vast information and educates about the prevailing trends in the global torpedo market to assist companies in their growth and development process.

The report comprises of a selection of data, involving industrial developments, market drivers, growth restraints and trends
As per the report, the global torpedo market on the basis of weight is segmented into a lightweight torpedo and heavyweight torpedo. The heavyweight segment is expected to account for maximum shares during the forecast period owing to its design to launch from submarine torpedo tubes.

Rising Security Concerns Will Favour Growth
The growing threats of terrorism will create new growth opportunities for the global market. The growing conflicts between countries will further enable the growth of the global market. The surge in the deliveries of naval ships and submarines by the different naval forces around the world will contribute significantly to the global torpedo market during the forecast period.

Furthermore, the heavyweight segment will generate maximum revenue for the global market during the forecast period owing to the design of the heavyweight torpedoes to from submarine torpedo tubes.

These torpedoes are majorly carried by vessels into their torpedo launching tube. In addition, the lightweight torpedo segment is expected to witness significant growth during the forecast period owing to its design to secure littoral supremacy. For instance, the Mark 54 Lightweight Torpedo was jointly by Raytheon and the US Navy under for the U.S. Navy's Lightweight Hybrid Torpedo program.

To Gain More Insights into the Market with Detailed Table of Content and Figures, Click Here:
https://www.fortunebusinessinsights.com/industry-reports/torpedo-market-101571

Major Table of Contents:
• Introduction
o Research Scope
o Market Segmentation
o Research Methodology
o Definitions and Assumptions
• Executive Summary
• Market Dynamics
o Market Drivers
o Market Restraints
o Market Opportunities
• Key Insights
o Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
o Latest technological Advancements
o Porters Five Forces Analysis
o Value Chain Analysis
• Global Torpedo Market Analysis, Insights and Forecast, 2015-2026
o Key Findings / Summary
o Market Analysis, Insights and Forecast – By Weight
 Heavyweight Torpedoes
 Lightweight Torpedoes
o Market Analysis, Insights and Forecast – By Propulsion
 Electric
 Conventional
o Market Analysis, Insights and Forecast – By Launch platform
 Air-launched
 Surface-launched
 Underwater-launched
o Market Analysis, Insights and Forecast – By Country
 North America
 Europe
 Asia pacific
 Rest of the world
TOC Continued….!

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