Torpedo Market Report 2026

Torpedo Market Overview

• Torpedo market size has reached to $1.28 billion in 2025 • Expected to grow to $1.77 billion in 2030 at a compound annual growth rate (CAGR) of 6.7% • Growth Driver: Rising Maritime Security Threats Fueling Growth in the Torpedo Market • Market Trend: Technological Advancements In Torpedo Defense • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

What Is Covered Under Torpedo Market?

Torpedoes are underwater self-propelled weapons that can be launched from a submarine, ship, or aircraft that are employed to sever the hulls of surface ships and submarines used in naval combat. It is outfitted with advanced technology that allows it to change depth and direction in reaction to external signals, as well as detonate its explosive warhead when it reaches or approaches its target. The main types of torpedoes are acoustic-homing torpedoes and wake-homing torpedoes. An acoustic homing torpedo is a type of torpedo that homes in on the acoustic signature of a target and is equipped with a sonar system that is sensitive to the target's acoustic signature. It is used primarily in anti-submarine warfare, where they are employed to locate and destroy enemy submarines. Major bifurcation based on weight are heavyweight and lightweight that use different propulsion such as thermal powered and electric powered. They are used in various applications such as air-launched, surfaced-launched, and underwater-launched.

What Is The Torpedo Market Growth Forecast?

The torpedo market size is expected to see strong growth in the next few years. It will grow to $1.77 billion in 2030 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing demand for smart torpedoes with autonomous navigation and target discrimination capabilities, increasing investment in lightweight torpedoes for air-launched and surface platforms, development of low-noise propulsion technologies to improve stealth performance, rising focus on multi-domain naval warfare driving integration of advanced sensors and communication modules, expansion of domestic torpedo manufacturing capabilities to enhance strategic self-reliance. Major trends in the forecast period include advanced underwater guidance systems, enhanced propulsion efficiency, miniaturization of lightweight torpedoes, improved warhead safety mechanisms, integration of multi-platform launch capabilities.

Global Torpedo Market Segmentation

1) By Product Type: Acoustic Homing Torpedo, Wake Homing Torpedo 2) By Weight: Heavyweight, Lightweight 3) By Propulsion: Thermal Powered, Electric Powered 4) By Application: Air-launched, Surfaced-launched, Underwater-launched Subsegments: 1) By Acoustic Homing Torpedo: Active Acoustic Homing Torpedo, Passive Acoustic Homing Torpedo 2) By Wake Homing Torpedo: Conventional Wake Homing Torpedo, Advanced Wake Homing Torpedo

What Is Driver Of The Torpedo Market?

The increasing maritime security threats are expected to propel the growth of the torpedo market going forward. Maritime security threats refer to the classified issues in the maritime domain that includes violence against passengers on board ships, as well as the placement of equipment on board a ship that has the potential to destroy or damage it which leads to national and human security. Torpedoes are commonly used to avert maritime security risks by detecting and neutralizing submarines and underwater mines, acting as a deterrence against attackers, and assisting with search and rescue efforts. For instance, in May 2025, according to the United Nations High Commissioner for Refugees, a Switzerland-based United Nations agency, UNHCR is gravely concerned about two recent boat tragedies off Myanmar’s coast, in which an estimated 427 Rohingya perished. The first boat, carrying 267 people from Cox’s Bazar and Rakhine State, sank on 9 May, leaving 66 survivors. The second, with 247 people, capsized on 10 May, leaving 21 survivors. Reports also indicate a third boat of 188 Rohingya was intercepted on 14 May. Nearly 1 in 5 attempting sea journeys in the region this year have been reported dead or missing, making these waters among the deadliest globally. Therefore, the increasing maritime security threats are driving the growth of the torpedo industry.

Key Players In The Global Torpedo Market

Major companies operating in the torpedo market are Atlas Electronic GmbH, BAE Systems plc, Bharat Dynamics Limited, Leonardo S.p.A., Lockheed Martin Corporation, Naval Group, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Aselsan A.S, Mitsubishi Heavy Industries Ltd., Rubin Central Design Bureau, Orbital ATK Inc., JSC Tactical Missiles Corporation, Sechan Electronics Inc., China Shipbuilding Industry Corporation, thyssenkrupp AG, Norinco Group, DCNS, Honeywell International Inc., General Dynamics Corporation, Safran Electronics & Defense, Ultra Electronics, Kongsberg Gruppen ASA, Rafael Advanced Defense Systems Ltd., LIG Nex1 Co. Ltd., Rave Gears, ECA Group, Singapore Technologies Engineering Ltd.

Global Torpedo Market Trends and Insights

Major companies operating in the torpedo market are focused on developing technological innovations, such as multi-layered integrated torpedo defense system (TDS), to gain a competitive edge in the market. A multi-layered integrated torpedo defense system (TDS) is a complex and sophisticated system designed to protect surface ships from torpedo attacks. For instance, in June 2023, Rafael Advanced Defense Systems Ltd., an Israel-based provider of weapons and military technology, launched Torbuster SP. Torbuster SP is designed to provide surface ships with protection against all types of acoustic homing torpedoes. It uses a combination of soft-kill and hard-kill countermeasures to neutralize incoming threats. The third generation, or Scutter Mk 3, reactive vessel-launched torpedo decoy, which lingers at a pre-programmed depth and is active for up to 10 minutes, can also be deployed by the system in addition to the SP hard-kill solution. It transmits a customized or general response that mimics different ship parameters.

What Are Latest Mergers And Acquisitions In The Torpedo Market? Fincantieri S.P.A Acquires Whitehead Alenia Sistemi Subacquei S.P.A (WASS) From Leonardo S.P.A

In January 2025, Fincantieri S.p.A, an Italy-based shipbuilding company, acquired Whitehead Alenia Sistemi Subacquei S.p.A (WASS) from Leonardo S.p.A for $428 million (€415 million). With this acquisition, Fincantieri S.p.A aims to strengthen its undersea capabilities by integrating advanced underwater acoustic technologies and weapons systems, consolidating its leadership in the underwater defense domain, and positioning itself to capitalize on the growing global undersea defense market, projected to see €94 billion in spending between 2024 and 2030. Whitehead Alenia Sistemi Subacquei S.p.A (WASS) is an Italy-based company that specializes in torpedo development, underwater sensors, and unmanned underwater systems.

Regional Insights

North America was the largest region in the torpedo market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global torpedo market during the forecast period. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

What Defines the Torpedo Market?

The torpedo market consists of sales of wire-guided torpedoes, straight-running torpedoes, forget torpedoes, and passive-acoustic torpedoes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Torpedo Market Report 2026?

The torpedo market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the torpedo industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.