Torpedo Launching System (SLT) Market Revenue was valued at USD 1.2 Billion in 2024 and is estimated to reach USD 1.8 Billion by 2033, growing at a CAGR of 5% from 2026 to 2033.
South Korea's Torpedo Launching System (SLT) market has experienced significant advancements in recent years, driven by both indigenous development and international collaborations. The Republic of Korea Navy (ROKN) has been actively enhancing its anti-submarine warfare capabilities, leading to a diverse and sophisticated SLT portfolio.
**Indigenous Developments:**
Tiger Shark Heavyweight Torpedo: Developed by LIG Nex1, the Tiger Shark is a wire-guided heavyweight torpedo measuring 6.5 meters in length and weighing 1,619 kilograms. It boasts a range of approximately 50 kilometers and a maximum speed of over 55 knots. The development commenced in 2012, with mass production beginning in 2022. Its advanced features position it as a formidable asset in the ROKN's arsenal. citeturn0search0
Blue Shark Lightweight Torpedo: Another creation by LIG Nex1, the Blue Shark is a light anti-submarine torpedo with an operational range of 19 kilometers. It is designed for deployment from various naval platforms, enhancing the ROKN's versatility in underwater combat scenarios. citeturn0search3
**International Collaborations:**
MK-54 Lightweight Torpedoes: In 2019, the U.S. Department of State approved the sale of 31 MK-54 torpedoes to South Korea, valued at $72 million. These torpedoes are intended for use on ROKN's P-8 Poseidon aircraft, augmenting the nation's maritime patrol and anti-submarine warfare capabilities. citeturn0search1
Torpedo Launcher Systems for Philippine Navy Frigates: SEA, a UK-based company, secured a contract with Hyundai Heavy Industries to supply torpedo launcher systems for two new frigates being constructed for the Philippine Navy. These systems are compatible with various NATO-standard lightweight torpedoes, including the Korean Blue Shark, enhancing interoperability and operational flexibility. citeturn0search4
**Industry Requirements and Market Dynamics:**
The evolving security landscape in the Indo-Pacific region has heightened the demand for advanced SLT systems. South Korea's focus on developing indigenous torpedoes like the Tiger Shark and Blue Shark reflects a strategic intent to bolster self-reliance in defense technologies. Concurrently, international collaborations, such as the procurement of MK-54 torpedoes and the supply of torpedo launcher systems to neighboring countries, underscore South Korea's role as a key player in regional defense partnerships.
As regional tensions persist, the emphasis on acquiring state-of-the-art SLT systems is expected to grow. Industries within South Korea are aligning their research and development efforts to meet both domestic and international demands, ensuring that the nation's SLT market remains robust and responsive to emerging threats. This dynamic interplay between indigenous innovation and international cooperation positions South Korea as a pivotal contributor to regional maritime security.
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Ordnance Technology Service
Elbit Systems
Systems Engineering & Assessment
JSK Naval Support
Hale Hamilton
Leonardo
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Torpedo Launching System (SLT) Market
Deck-mounted Launching Systems
Underwater Launching Systems
Vertical Launching Systems
Self-Contained Launching Systems
Navy Ships
Submarines
Naval Aviation
Coast Guard Vessels
Conventional Torpedoes
Advanced Torpedoes
Hybrid Systems
Autonomous Torpedoes
Lightweight Torpedoes
Heavyweight Torpedoes
Medium-weight Torpedoes
Defense Contractors
Government Agencies
Commercial Marine Operators
Research Institutions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Torpedo Launching System (SLT) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Torpedo Launching System (SLT) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Torpedo Launching System (SLT) Market, By Type
6. South Korea Torpedo Launching System (SLT) Market, By Application
7. South Korea Torpedo Launching System (SLT) Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Torpedo Launching System (SLT) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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