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 -
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
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