A key factor driving the market’s growth is the reduction in the increasing investments in undersea capabilities. The rapid pace of technological advancements in undersea warfare signifies replacement of existing submarines with more powerful and lethal ones. The predominant factor that will spur a round of dramatic changes in undersea warfare is the increase in computer processing power. The new changes might include new capabilities to search submarines and improvements in submarines, such as endurance, stealth, underwater weapon systems, sensors, and communication systems.
This market research report on the global torpedo market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of hybrid torpedoes as one of the key emerging trends in the global torpedo market:
Global torpedo market: Development of hybrid torpedoes
Hybrid propulsion systems offer better efficiency compared to conventional systems irrespective of the power band in use. A hybrid torpedo also works on the same concept of incorporating multiple powerplants or propulsion systems in which one of them is optimized for very low-speed operations. Increasing efficiency at low speeds helps to enhance the overall range with enough power remaining for a high-speed operation, such as an attack or rapid transit.
“These improvements in operating efficiency and endurance provide hybrid torpedoes the capability to perform a wide range of missions. Some torpedoes might require additional help of emerging technologies, such as enhanced weapon platform connectivity and advanced sensors for completion of specific missions,” says a senior analyst at Technavio for research on defense.
Global torpedo market: Segmentation analysis
This market research report segments the global torpedo market into the following applications (naval vessels-launched torpedoes and aerial platform-launched torpedoes) and key regions (the Americas, APAC, and EMEA).
The naval vessels-launched torpedoes segment held the largest market share in 2017, accounting for nearly 65% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA held the highest share of the global torpedo market in 2017, accounting for a market share of approximately 37%. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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