The global torpedo market is expected to grow at a CAGR of around 3% during the period 2017-2021, says Technavio.
Technavio has announced its latest market research report on the global torpedo market, under its defense portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like ATLAS ELEKTRONIK, BAE Systems, Lockheed Martin, Raytheon, and Saab.
According to Moutushi Saha, a lead analyst for defense research at Technavio, “Rapid technical advancements in the field of undersea warfare is expected to replace the existing fleet of submarines with more powerful and lethal ones. Close to 300 submarines is anticipated to be present in the Indo-Pacific by 2030.”
Such new advancements are projected to be new capabilities to find submarines and improvements in submarines that will enhance submerged endurance, stealth, underwater weapons like torpedoes, sensors, and communication systems.
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Development of hybrid torpedoes
Technological advances in the market are ushering in hybrid torpedoes such as the Yu-8, a hybrid missile-torpedo, that can be launched from a variety of platforms. On firing, Yu-8 flies like a rocket in the air before it goes deep down into the water to hit its target submarine. One of the chief advantages of Yu-8 is its range and speed.
Usage of optical fiber in torpedoes
Optical fiber is a transparent and flexible fiber made of silica glass which has a diameter slightly thicker than a human hair. These fibers are used in torpedoes to keep them roped to the submarine. They enable torpedoes to receive real-time instructions from submarines over a longer range without any external interference.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Torpedo Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Man-Portable Rocket Launcher Market 2017-2021
- Global Naval Combat Systems Market 2016-2020
- Global Light Weapons Market 2016-2020
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