Electrical Power Torpedo Market Analysis: Global Industry Size, Growth and Forecast
Report ID : 1314486 | Published : May 2025 | Study Period : 2023-2033 | Format : PDF + Excel
The market size of the Electrical Power Torpedo Market is categorized based on Type (Guided Torpedoes, Unguided Torpedoes) and Launch Platform (Submarine Launch, Surface Ship Launch, Aerial Launch) and End User (Naval Forces, Coast Guard, Defense Contractors) and Range (Short Range, Medium Range, Long Range) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
Valued at $1.2 billion in 2023, the Electrical Power Torpedo Market size is expected to grow to $2.5 billion by 2033, with a CAGR of 7.8% from 2024 to 2033. The report comprises various segments and analyzes the trends and factors playing a substantial role in the market.
The advancement in electric propulsion systems used in torpedoes, enables a change in the efficiency, range and stealth intricate systems enabling naval weapons to be more sophisticated. Furthermore, Electrical Power Torpedo Market military spending fuels the modernization of fleets. Modern electrical power torpedoes are needed more with the advancements and desire of nations to enhance undersea combat with naval fleets. The market reflects changes in warfare technology and development of defense systems. Stragetic defense initiatives of the nations enable these markets to be afloat. It enhances research and development opportunities advancing electric power torpedoes and innovating new weapons which enables capturing of strong market share.
The integration of cutting edge technologies into advanced torpedo technology is increasing day by day. With the rise in showcasing power around the globe, the competition serves as great incentive to new and old defense contractors. This integration also increases the use of automated control that enables inclusion of gimbaled warheads capable of targeting incoming threats with advanced capabilities. These changes aim towards improving underwater warfare future paving the way for construction of new age automated control enabling innovative weaponry.
| ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2023-2033 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2033 |
| HISTORICAL PERIOD | 2023-2024 |
| UNIT | VALUE (USD BILLION) |
| KEY COMPANIES PROFILED | Raytheon Technologies, Lockheed Martin, BAE Systems, Northrop Grumman, Thales Group, Kongsberg Gruppen, Huntington Ingalls Industries, Leonardo S.p.A., Saab AB, DCNS, Rafael Advanced Defense Systems |
| SEGMENTS COVERED |
By Type - Guided Torpedoes, Unguided Torpedoes
By Launch Platform - Submarine Launch, Surface Ship Launch, Aerial Launch
By End User - Naval Forces, Coast Guard, Defense Contractors
By Range - Short Range, Medium Range, Long Range
By Geography - North America, Europe, APAC, Middle East Asia & Rest of World. |
Electrical Power Torpedo Market Dynamics
The Electrical Power Torpedo Market is undergoing significant changes due to various dynamic factors. This section delves into the key drivers, restraints, opportunities, and challenges that are shaping the market landscape.
Market Drivers
- Technological Advancements
- Increasing Consumer Demand
- Regulatory Support
- Globalization
Market Restraints
- High Operational Costs
- Regulatory Challenges
- Market Saturation
Market Opportunities
- Emerging Markets
- Product Innovation
- Strategic Partnerships
Market Challenges
- Technological Disruptions
- Supply Chain Issues
- Changing Consumer Preferences
Electrical Power Torpedo Market Segmentations
Market Breakup by Type
- Overview
- Guided Torpedoes
- Unguided Torpedoes
Market Breakup by Launch Platform
- Overview
- Submarine Launch
- Surface Ship Launch
- Aerial Launch
Market Breakup by End User
- Overview
- Naval Forces
- Coast Guard
- Defense Contractors
Market Breakup by Range
- Overview
- Short Range
- Medium Range
- Long Range
Market Breakup by Region
North America
- United States of America
- Canada
- Mexico
Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Players in the Electrical Power Torpedo Market
This report provides an in-depth analysis of both established and rising industry participants. It provides broad lists of important companies organized by the types of products they offer and other market-related factors. In addition to characterizing these companies, the report contains the year each player entered the market, which is useful for research analysis by the study's analysts.
- Raytheon Technologies
- Lockheed Martin
- BAE Systems
- Northrop Grumman
- Thales Group
- Kongsberg Gruppen
- Huntington Ingalls Industries
- Leonardo S.p.A.
- Saab AB
- DCNS
- Rafael Advanced Defense Systems
Customization Options
Verified Industry Insights offers one of the following report customization options to our respectable clients :
Company Profiling
● Detailed profiling of additional market players (up to three players)
● SWOT analysis of key players (up to three players)
Competitive Benchmarking
● Benchmarking of key players on the following parameters : Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research
Verified Industry Insights offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or call us at +1 743 222 5439
© 2024 Verified Industry Insights. All Rights Reserved