어뢰 시장 : 규모, 점유율, 성장, 산업 분석, 유형별, 용도별, 지역별 인사이트, 예측(2026-2034년)

Growth Factors of torpedo Market

The global torpedo market is witnessing steady growth driven by rising geopolitical tensions and increasing naval modernization programs worldwide. The market was valued at USD 1162.92 million in 2025 and is projected to grow to USD 1226.53 million in 2026, reaching USD 1878.06 million by 2034, at a CAGR of 5.47% during the forecast period. North America dominated the market with a 34.78% share in 2025, supported by strong defense spending and advanced naval capabilities.

A torpedo is a self-propelled underwater weapon used in naval warfare, capable of being launched from submarines, ships, or aircraft. It consists of propulsion, guidance, and explosive systems, enabling precise targeting and destruction of enemy vessels. Increasing maritime security concerns and the need for advanced anti-submarine warfare systems are significantly contributing to market growth.

Market Dynamics

Growth Drivers

One of the key drivers of the torpedo market is the rising maritime border disputes and geopolitical tensions across regions such as Asia Pacific and Europe. Countries are strengthening their naval forces to enhance security and surveillance capabilities, leading to increased procurement of advanced torpedo systems.

Another major factor is the growing defense budgets of leading economies such as the U.S., India, and China. For instance, significant investments in naval modernization programs and submarine fleets are driving the demand for torpedoes with advanced propulsion and guidance systems.

Additionally, the increasing procurement of naval vessels, including submarines, frigates, and destroyers, is boosting market demand. These vessels are equipped with modern torpedo systems to enhance combat efficiency and underwater warfare capabilities.

Impact of War and Conflicts

Global conflicts, including the Russia-Ukraine war and rising tensions between neighboring countries, have accelerated defense spending and military modernization. Nations are investing heavily in advanced weapon systems, including torpedoes, to strengthen their naval capabilities.

However, such conflicts have also disrupted supply chains and delayed procurement programs in some regions. Despite these challenges, the overall impact of geopolitical instability has been positive for market growth due to increased defense investments.

Market Restraints

The market faces challenges due to the growing threat of cyber-attacks on advanced weapon systems. As torpedoes rely on sophisticated guidance and communication technologies, vulnerabilities in these systems may impact operational efficiency.

Additionally, the increasing adoption of missile-based defense systems and advanced submarines capable of countering torpedo attacks may limit market growth to some extent.

Market Trends

A prominent trend in the torpedo market is the development of robotic and unmanned torpedo systems. These systems can operate autonomously, detect enemy submarines, and execute missions with minimal human intervention, enhancing operational efficiency.

Another key trend is the shift toward electric propulsion systems, which offer advantages such as lower noise levels, higher efficiency, and improved speed. These features are critical for stealth operations in modern naval warfare.

Furthermore, advancements in guidance systems and acoustic technologies are improving the accuracy and effectiveness of torpedoes, making them more reliable in complex combat scenarios.

Segmentation Analysis

By weight, the heavyweight torpedo segment dominates the market, driven by its superior range, payload capacity, and effectiveness in submarine-based operations. These torpedoes are widely used by naval forces to enhance combat capabilities.

By launch platform, the surface-launched segment holds a significant share, owing to the increasing deployment of torpedoes on naval vessels such as destroyers and cruisers. The underwater-launched segment is also gaining traction due to the growing use of submarines in modern warfare.

By propulsion, the electric propulsion segment is expected to witness the fastest growth, supported by the rising adoption of electric ships and demand for low-noise, high-efficiency systems.

Regional Insights

North America leads the market with a valuation of USD 404.51 million in 2025 and USD 426.64 million in 2026, driven by high defense expenditure and continuous technological advancements in naval systems, particularly in the U.S.

Asia Pacific is expected to register the fastest growth due to increasing investments in naval modernization by countries such as China and India. Rising regional conflicts and maritime security concerns are key growth factors.

Europe holds the second-largest market share, supported by the presence of major defense companies and increasing development of advanced weapon systems amid regional tensions.

The rest of the world, including the Middle East and Latin America, is also witnessing growth due to rising investments in naval defense and anti-piracy operations.

Competitive Landscape

The torpedo market is highly competitive, with key players such as Lockheed Martin Corporation, Raytheon Technologies Corporation, Naval Group, BAE Systems PLC, and Bharat Dynamics Limited focusing on innovation and advanced technology development. Companies are investing in next-generation torpedo systems with enhanced speed, accuracy, and stealth capabilities.

Strategic collaborations, long-term defense contracts, and expansion into emerging markets are key strategies adopted by these players to strengthen their market position.

Conclusion

The torpedo market is expected to experience steady growth, driven by rising geopolitical tensions, increasing defense budgets, and ongoing naval modernization programs. With market value projected to grow from USD 1162.92 million in 2025 to USD 1878.06 million by 2034, the industry is set to expand across global regions. Despite challenges such as cyber threats and evolving defense technologies, advancements in propulsion, automation, and guidance systems will continue to support long-term market development.

Segmentation By Weight

• Heavyweight Torpedoes
• Lightweight Torpedoes

By Launch Platform

• Air-Launched
• Surface-Launched
• Underwater-Launched

By Propulsion

• Electric Propulsion
• Conventional Propulsion

By Geography

• North America (Weight, Launch Platform, Propulsion, and Country)
  • U.S. (Launch Platform)
  • Canada (Launch Platform)
• Europe (Weight, Launch Platform, Propulsion, and Country)
  • U.K. (Launch Platform)
  • Germany (Launch Platform)
  • France (Launch Platform)
  • Russia (Launch Platform)
  • Rest of Europe (Launch Platform)
• Asia Pacific (Weight, Launch Platform, Propulsion, and Country)
  • Japan (Launch Platform)
  • China (Launch Platform)
  • India (Launch Platform)
  • Rest of Asia Pacific (Launch Platform)
• Rest of the World (Weight, Launch Platform, Propulsion, and Country)
  • Latin America (Launch Platform)
  • Middle East & Africa (Launch Platform)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities

4. Key Insights

• 4.1. Key Industry Developments -Mergers, Acquisitions and Partnerships
• 4.2. Latest technological Advancements
• 4.3. Porters Five Forces Analysis
• 4.4. Supply Chain Analysis

5. Qualitative Insights

• 5.1. Impact of COVID-19 on the Torpedo Market
• 5.2. Supply Chain Challenges
• 5.3. Steps Taken by the Industry/Government/Companies to Overcome the Impact
• 5.4. Key Developments in the Industry in Response to COVID-19
• 5.5. Potential Opportunities due to COVID-19 Outbreak

6. Global Torpedo Market Analysis, Insights and Forecast, 2021-2034

• 6.1. Key Findings / Summary
• 6.2. Market Analysis, Insights and Forecast - By Weight
  • 6.2.1. Heavyweight Torpedoes
  • 6.2.2. Lightweight Torpedoes
• 6.3. Market Analysis, Insights and Forecast - By Launch Platform
  • 6.3.1. Air-launched
  • 6.3.2. Surface-Launched
  • 6.3.3. Underwater-Launched
• 6.4. Market Analysis, Insights and Forecast - By Propulsion
  • 6.4.1. Electric Propulsion
  • 6.4.2. Conventional Propulsion
• 6.5. Market Analysis, Insights and Forecast - By Region
  • 6.5.1. North America
  • 6.5.2. Europe
  • 6.5.3. Asia Pacific
  • 6.5.4. Rest of the world

7. North America Torpedo Market Analysis, Insights and Forecast, 2021-2034

• 7.1. Key Findings / Summary
• 7.2. Market Analysis, Insights and Forecast - By Weight
  • 7.2.1. Heavyweight Torpedoes
  • 7.2.2. Lightweight Torpedoes
• 7.3. Market Analysis, Insights and Forecast - By Launch Platform
  • 7.3.1. Air-launched
  • 7.3.2. Surface-Launched
  • 7.3.3. Underwater-Launched
• 7.4. Market Analysis, Insights and Forecast - By Propulsion
  • 7.4.1. Electric Propulsion
  • 7.4.2. Conventional Propulsion
• 7.5. Market Analysis - By Country
  • 7.5.1. The U.S.
  • 7.5.2. Canada

8. Europe Torpedo Market Analysis, Insights and Forecast, 2021-2034

• 8.1. Key Findings / Summary
• 8.2. Market Analysis, Insights and Forecast - By Weight
  • 8.2.1. Heavyweight Torpedoes
  • 8.2.2. Lightweight Torpedoes
• 8.3. Market Analysis, Insights and Forecast - By Launch Platform
  • 8.3.1. Air-launched
  • 8.3.2. Surface-Launched
  • 8.3.3. Underwater-Launched
• 8.4. Market Analysis, Insights and Forecast - By Propulsion
  • 8.4.1. Electric Propulsion
  • 8.4.2. Conventional Propulsion
• 8.5. Market Analysis - By Country
  • 8.5.1. The U.K.
  • 8.5.2. Germany
  • 8.5.3. France
  • 8.5.4. Russia
  • 8.5.5. Rest of Europe

9. Asia pacific Torpedo Market Analysis, Insights and Forecast, 2021-2034

• 9.1. Key Findings / Summary
• 9.2. Market Analysis, Insights and Forecast - By Weight
  • 9.2.1. Heavyweight Torpedoes
  • 9.2.2. Lightweight Torpedoes
• 9.3. Market Analysis, Insights and Forecast - By Launch Platform
  • 9.3.1. Air-launched
  • 9.3.2. Surface-Launched
  • 9.3.3. Underwater-Launched
• 9.4. Market Analysis, Insights and Forecast - By Propulsion
  • 9.4.1. Electric Propulsion
  • 9.4.2. Conventional Propulsion
• 9.5. Market Analysis - By Country
  • 9.5.1. Japan
  • 9.5.2. China
  • 9.5.3. India
  • 9.5.4. Rest of Asia Pacific

10. Rest of the world Torpedo Market Analysis, Insights and Forecast, 2021-2034

• 10.1. Key Findings / Summary
• 10.2. Market Analysis, Insights and Forecast - By Weight
  • 10.2.1. Heavyweight Torpedoes
  • 10.2.2. Lightweight Torpedoes
• 10.3. Market Analysis, Insights and Forecast - By Launch Platform
  • 10.3.1. Air-launched
  • 10.3.2. Surface-Launched
  • 10.3.3. Underwater-Launched
• 10.4. Market Analysis, Insights and Forecast - By Propulsion
  • 10.4.1. Electric Propulsion
  • 10.4.2. Conventional Propulsion
• 10.5. Market Analysis - By Sub-Region
  • 10.5.1. Latin America
  • 10.5.2. The Middle East and Africa

11. Competitive Analysis

• 11.1. Key Industry Developments
• 11.2. Global Market Share Analysis (2025)
• 11.3. Competition Dashboard
• 11.4. Comparative Analysis - Major Players
• 11.5. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
  • 11.5.1. ASELSAN AS
    • 11.5.1.1. Overview,
    • 11.5.1.2. Products & services,
    • 11.5.1.3. SWOT analysis,
    • 11.5.1.4. Recent developments,
    • 11.5.1.5. strategies,
    • 11.5.1.6. financials (based on availability)
  • 11.5.2. Atlas Elektronik GmbH
    • 11.5.2.1. Overview,
    • 11.5.2.2. Products & services,
    • 11.5.2.3. SWOT analysis,
    • 11.5.2.4. Recent developments,
    • 11.5.2.5. strategies,
    • 11.5.2.6. financials (based on availability)
  • 11.5.3. BAE Systems PLC
    • 11.5.3.1. Overview,
    • 11.5.3.2. Products & services,
    • 11.5.3.3. SWOT analysis,
    • 11.5.3.4. Recent developments,
    • 11.5.3.5. strategies,
    • 11.5.3.6. financials (based on availability)
  • 11.5.4. Bharat Dynamics Limited
    • 11.5.4.1. Overview,
    • 11.5.4.2. Products & services,
    • 11.5.4.3. SWOT analysis,
    • 11.5.4.4. Recent developments,
    • 11.5.4.5. strategies,
    • 11.5.4.6. financials (based on availability)
  • 11.5.5. Honeywell International Inc.
    • 11.5.5.1. Overview,
    • 11.5.5.2. Products & services,
    • 11.5.5.3. SWOT analysis,
    • 11.5.5.4. Recent developments,
    • 11.5.5.5. strategies,
    • 11.5.5.6. financials (based on availability)
  • 11.5.6. Leonardo S.P.A.
    • 11.5.6.1. Overview,
    • 11.5.6.2. Products & services,
    • 11.5.6.3. SWOT analysis,
    • 11.5.6.4. Recent developments,
    • 11.5.6.5. strategies,
    • 11.5.6.6. financials (based on availability)
  • 11.5.7. Lockheed Martin Corporation
    • 11.5.7.1. Overview,
    • 11.5.7.2. Products & services,
    • 11.5.7.3. SWOT analysis,
    • 11.5.7.4. Recent developments,
    • 11.5.7.5. strategies,
    • 11.5.7.6. financials (based on availability)
  • 11.5.8. Naval Group
    • 11.5.8.1. Overview,
    • 11.5.8.2. Products & services,
    • 11.5.8.3. SWOT analysis,
    • 11.5.8.4. Recent developments,
    • 11.5.8.5. strategies,
    • 11.5.8.6. financials (based on availability)
  • 11.5.9. Northrop Grumman Corporation
    • 11.5.9.1. Overview,
    • 11.5.9.2. Products & services,
    • 11.5.9.3. SWOT analysis,
    • 11.5.9.4. Recent developments,
    • 11.5.9.5. strategies,
    • 11.5.9.6. financials (based on availability)
  • 11.5.10. Raytheon Technologies Corporation
    • 11.5.10.1. Overview,
    • 11.5.10.2. Products & services,
    • 11.5.10.3. SWOT analysis,
    • 11.5.10.4. Recent developments,
    • 11.5.10.5. strategies,
    • 11.5.10.6. financials (based on availability)
  • 11.5.11. Rosoboronexport
    • 11.5.11.1. Overview,
    • 11.5.11.2. Products & services,
    • 11.5.11.3. SWOT analysis,
    • 11.5.11.4. Recent developments,
    • 11.5.11.5. strategies,
    • 11.5.11.6. financials (based on availability)
  • 11.5.12. Saab AB
    • 11.5.12.1. Overview,
    • 11.5.12.2. Products & services,
    • 11.5.12.3. SWOT analysis,
    • 11.5.12.4. Recent developments,
    • 11.5.12.5. strategies,
    • 11.5.12.6. financials (based on availability)
  • 11.5.13. Sechan Electronics Inc.
    • 11.5.13.1. Overview,
    • 11.5.13.2. Products & services,
    • 11.5.13.3. SWOT analysis,
    • 11.5.13.4. Recent developments,
    • 11.5.13.5. strategies,
    • 11.5.13.6. financials (based on availability)