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Torpedo

03-16-2018 07:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsWeb

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Market research analysts at Publisher predict that the global torpedo market will grow steadily during the next four years and post a CAGR of about 3% by 2021. This market research analysis identifies the increased production of lightweight torpedoes as one of the primary growth factors for this market. Lightweight torpedoes can be carried in large numbers in aircrafts or surface ships and are mainly targeted at submarines. These torpedoes are usually dropped by aircrafts closer to the target which eliminates the need for precision navigation systems, in turn, reducing the overall cost. Such advantages will result in the increased demand for torpedoes, in turn, aiding market growth. For instance, the British Navy and Air Force have already invested around USD 2 billion in Marconi's lightweight Sting Ray and the Swedish Defense Material Administration has invested almost USD 3 billion towards the development of lightweight torpedo systems.

Due to their characteristics that allow transmissions over a longer distance and at higher bandwidth, optical fibers will be used in torpedoes to keep them tethered to the submarine. This will enable torpedoes to receive real-time instructions from submarines over a longer range without any external interference. Companies such as Tethers Unlimited and NSTL have already developed a technology to enable high-speed two-way communication between torpedoes and submarines, which will make them resistant to countermeasure systems. Such advancements will increase the reliability of torpedoes, consequently driving their demand in the coming years.

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Competitive landscape and key vendors

The market has a global torpedo market has a few multinational and regional suppliers who offer heterogeneous products and services. The market has crossed its growth phase and torpedo manufacturers sustain the market by upgrading the existing technologies, quality, and reliability. To establish their market presence for a long time, key vendors have the need to identify and respond to the evolving trends of geopolitical situations and should also respond to the changing military spending and buying patterns. To acquire new business opportunities that will help them improve their market positions, vendors have the need to focus on offering torpedoes with higher operational range and with the ability to negate countermeasure systems deployed on warships.

The leading vendors in the market are -

ATLAS ELEKTRONIK

BAE Systems

Lockheed Martin

Raytheon

Saab

The other prominent vendors in the market are Bharat Dynamics Limited (BDL), DCNS, Honeywell International, Leonardo-Finmeccanica, and Orbital ATK.

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Segmentation by application and analysis of the torpedo market

Naval vessel-launched torpedo

Aerial platform-launched torpedo

During 2016, the naval vessel-launched torpedo segment accounted for the major shares and dominated this market. These are anti-submarine torpedoes that are usually launched from warships and submarines and are much heavier than aerial-torpedoes. The increase in deployment of warships and naval vessels across the territorial waters of major geographical regions around the globe will fuel market growth in the coming years.

Geographical segmentation and analysis of the torpedo market

Americas

APAC

EMEA

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