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The torpedo market size has the potential to grow by USD 219.79 million during 2020-2024, and the market's growth momentum will accelerate at a CAGR of 4.06%.
This report provides a detailed analysis of the market by application (naval vessels-launched torpedoes and aerial platform-launched torpedoes), geography (North America, APAC, Europe, MEA, and South America), and key vendors.
Browse TOC and LoE with selected illustrations and example pages of Torpedo Market
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
The torpedo market is concentrated and the vendors are deploying growth strategies such as focus on improving geopolitical situations to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
The market players also significantly leverage external market drivers such as increasing investments in undersea capabilities to achieve growth opportunities. However, factors such as incremental expenditure in torpedo defense system will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the torpedo market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies,
This torpedo market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
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36% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for torpedo in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The development of hybrid torpedoes by the leading manufacturers is one of the prime factors that will facilitate the torpedo market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
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The naval vessels-launched torpedoes segment has the maximum torpedo market share due to its capability of carrying heavyweight torpedoes. Since the deployment of warships and naval vessels across the territorial waters of North America, Europe, and APAC is expected to grow considerably over the forecast period, the growth of the market segment is expected to be significant throughout the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the torpedo market size. Fetch actionable market insights on post COVID-19 impact on each segment.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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