The global Torpedo Market landscape is competitive and technology-driven, with major defense contractors continually innovating to address modern naval warfare requirements. (MRFR) reports that the torpedo market was valued at USD 1.245 billion in 2024 and is expected to reach USD 2.464 billion by 2035, reflecting a 6.4% CAGR over the forecast period of 2025–2035. Key players leading...

Market Overview The global torpedo market was valued at USD 993.57 million in 2022 and is expected to grow at a CAGR of 5.2% during the forecast period. The global torpedo market is witnessing steady growth as naval defense forces across the world continue to modernize fleets and invest in underwater warfare capabilities. Torpedoes are self-propelled, underwater weapons designed to target...