Submarine-Launched Missile Market

Market Overview:

The global submarine-launched missile market size reached USD 330.5 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 504.6 Million by 2032, exhibiting a growth rate (CAGR) of 4.67% during 2024-2032. The increasing geopolitical tensions and security concerns, increasing investments in modernization of naval forces, and extensive product utilization as a nuclear deterrent strategy, and various research and development (R&D) activities represent some of the key factors driving the market.

A submarine-launched missile is a type of projectile designed to be launched from a submarine's torpedo tubes or missile silos, allowing for the deployment of long-range offensive capabilities beneath the sea surface. It is a crucial component of a submarine's arsenal, providing the ability to strike targets on land, at sea, or in the air. Submarine-launched missiles come in various types, including ballistic missiles and cruise missiles. Ballistic missile submarines are propelled into the air using powerful rocket engines, following a predetermined trajectory that can reach targets located thousands of kilometers away. They are characterized by high speeds and the ability to carry nuclear or conventional warheads. On the other hand, cruise missiles are powered by jet engines or rocket motors and fly at lower altitudes, using terrain following or GPS guidance systems to navigate toward their targets. They offer greater maneuverability, longer loitering capabilities, and the ability to strike with precision. Submarines equipped with cruise missiles, such as guided missile submarines, possess a versatile and stealthy platform for engaging a range of targets.

Submarine-Launched Missile Market Trends:

One of the primary factors driving the market is the increasing geopolitical tensions and security concerns among nations. As a result, several countries are adopting submarine-launched missiles that offer a strategic advantage by providing a covert and survivable platform for long-range offensive capabilities. These missiles also enhance their deterrence capabilities and maintain a credible defense posture. Besides this, several nations are widely investing in submarine-launched missile systems to strengthen their nuclear deterrence capabilities as submarine-launched ballistic missiles (SLBMs) with nuclear warheads serve as a critical component of a nation's nuclear deterrence strategy. Additionally, various countries are investing in the modernization of their naval forces, including the procurement of advanced submarines equipped with submarine-launched missile systems. Due to this, upgrading submarine fleets with improved missile technology enables nations to maintain or gain a competitive edge in naval warfare and projection of power, thus escalating the demand for submarine-launched missiles. Moreover, key players are focusing on extensive research and development (R&D) activities to enhance the capabilities, including range, accuracy, stealth, and payload capacity of submarine-launched missiles, which are positively influencing the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global submarine-launched missile market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on the type and application.

Type Insights:

• Submarine-Launched Ballistic Missile (SLBM)
• Sea-Launched Cruise Missile (SLCM)
   

The report has provided a detailed breakup and analysis of the submarine-launched missile market based on the type. This submarine-launched ballistic missile (SLBM) and sea-launched cruise missile (SLCM). According to the report, submarine-launched ballistic missile (SLBM) represented the largest segment.

Application Insights:

• National Defense
• Technical Research
   

A detailed breakup and analysis of the submarine-launched missile market based on the application has also been provided in the report. This includes national defense and technical research.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for submarine-launched missile. Some of the factors driving the North America submarine-launched missile market included increasing national security concerns, modernization in naval forces, development of enhanced submarine-launched missiles, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global submarine-launched missile market. Also, detailed profiles of all major companies have been provided. Some of the companies covered include BAE Systems Plc, BrahMos Aerospace, General Dynamic Corporation, Lockheed Martin Corporation, MBDA, Raytheon Technologies Corporation, The Boeing Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global submarine-launched missile market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global submarine-launched missile market?
• What is the impact of each driver, restraint, and opportunity on the global submarine launched missile market?
• What are the key regional markets?
• Which countries represent the most attractive submarine-launched missile market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the submarine-launched missile market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the submarine-launched missile market?
• What is the competitive structure of the global submarine-launched missile market?
• Who are the key players/companies in the global submarine-launched missile market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the submarine-launched missile from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global submarine-launched missile market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the submarine-launched missile industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.