Torpedo Market (2024-2031): Industry Insights, SWOT Analysis, Market Size, Share, and Key Growth Factors | Atlas Elektronik GmbH Bharat Dynamics Limited JSC Tactical Missiles Corporation

Torpedo market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period (2024-2031). A torpedo is a sophisticated underwater missile, launched from submarines or ships. Propelled itself, it homes in on a target and explodes on contact or proximity, delivering a powerful punch to cripple or destroy enemy vessels.

Get Free Sample link @ https://www.omrglobal.com/request-sample/torpedo-market

Increased military expenditure is a significant driver of the expanding torpedo market. Geopolitical tensions, simmering border disputes, and the ever-present threat of terrorism create a complex security landscape. As a result, governments prioritize defense budgets, allocating more resources to bolster their military capabilities. For instance, in 2023, Russia's military expenditure surged by 24.0%, reaching an estimated $109 billion, indicating a 57.0% increase since 2014, coinciding with the annexation of Crimea. Military spending constituted 16.0% of Russia's total government expenditure in 2023, with its military burden, or military spending as a percentage of gross domestic product (GDP), standing at 5.9%. This translates directly to investments in advanced weaponry for all branches of the armed forces, including the navy. Submarines play a vital role in modern warfare, and torpedoes are their primary offensive armament. Therefore, a rise in military spending directly translates to an increased demand for modern and sophisticated torpedoes, fueling the growth of this specialized market.

full report of Torpedo Market available @ https://www.omrglobal.com/industry-reports/torpedo-market

• Market Coverage
• Market number available for - 2024-2031
• Base year- 2024
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Torpedo Market by Weight
o Lightweight Torpedoes
o Heavyweight Torpedoes

Global Torpedo Market by Launch Platform
o Air-Launched
o Surface-Launched
o Underwater-Launched

Global Torpedo Market by Propulsion
o Electric Propulsion
o Conventional Propulsion

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World
o Latin America
o Middle East & Africa

Company Profiles
o Atlas Elektronik GmbH
o Bharat Dynamics Limited
o JSC Tactical Missiles Corporation
o Leonardo S.p.A.
o LIG Nex1 Co Ltd
o Naval Group 4B
o Roketsan A.?.
o Rosoboronexport

The Report Covers
• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global torpedo market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/torpedo-market

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

This release was published on openPR.