Market Share of Torpedo Industry
Some of the prominent players in the market are Saab AB, Leonardo SpA, BAE Systems PLC, Raytheon Technologies Corporation, and Naval Group. In addition to global players, with the growing demand for domestic manufacturing, companies like Bharat Dynamics Limited, LIG Nex1 Co. Ltd, and Mitsubishi Heavy Industries Ltd have been gradually increasing their presence in the market. The companies are investing in the development of new torpedoes with high lethal capabilities and range, which is expected to help them gain new customers and increase their presence in the market. In this regard, in November 2021, Leonardo announced that the company introduced an enhanced variant of A244/S light-weight torpedoes (LWT) called Mod 4 as a new production weapon system. The upgrade to Mod 4 is expected to increase the maximum speed to over 40 knots at max operational depth. Furthermore, the collaborations between suppliers are expected to increase the concentration in the market and strengthen the control over the market's supply chain in the coming years.
Torpedo Market Leaders
Saab AB
Leonardo S.p.A.
BAE Systems plc
Raytheon Technologies Corporation
Naval Group
*Disclaimer: Major Players sorted in no particular order
