Torpedo Market Size, Share, Growth Analysis, By Product(Acoustic Homing Torpedo, Wake Homing Torpedo), By Type(Electric, Thermal), By Weight(Heavyweight Torpedo, Lightweight Torpedo), By Launch Platform(Surface-launched, Underwater-launched, Air-launched), By Region - Industry Forecast 2025-2032

Drivers

Growing Dispute of Maritime Border  

• The growing disputes among governments in developing countries and terrorist activities across the world is contributing to the rising adoption of torpedoes globally. With increasing terrorist activities, the concerns related to border security in countries across Europe and the Asia Pacific have considerable raised. Therefore, to enhance marine border security and marine mission abilities, many governments in the developing countries are emphasizing on the development of navy ships, submarines, and maritime helicopters armed with torpedoes. The countries are testing new potentials that will also support market growth. 

Increasing Investment on Modernization of Naval Fleet  

• The increasing defence budgets in prominent economies, like the U.S., India, and China have led to an increase in the adoption of advanced torpedoes with enhanced guided systems and propulsion technology. A substantial amount of the defence budget has been assigned for the modernization and development of naval solutions. This has further increased the purchase of new naval vessels such as frigates, destroyers, and submarines to protect marine borders. This factor will fuel the demand for torpedoes during the industry forecast period. 

Restraints 

Threat of Cyber Attacks  

• The rise in number of cyber-attacks and the development of ballistic missile capabilities in submarines is creating challenges for the growth of the torpedo market. Furthermore, advanced computer systems and electronics are frequently seen in modern of torpedoes. The use of such digitalization is increasing frequency of cyberattacks creating a threat to the security and functionality of these systems. Purchasers are getting discouraged because of their concerns about how vulnerable torpedo systems are to cyberattacks. 

Growing Investment in Ballistic Missiles  

• The acquisition of ballistic missile capabilities by submarines causes defence expenditure. It is possible that having ballistic missiles on a submarine makes it more significant strategically and adaptable. But it can reduce funds allocated for developing and acquiring torpedo systems. Naval tactics tends to favour other weapons over traditional torpedoes if submarines acquire a wider range of capabilities, such as ballistic missiles, anti-ship missiles, and other cutting-edge armaments. This might negatively influence the demand for torpedo system, hampering market growth.