IMARC Group, a leading market research company, has recently releases report titled, “Submarine-Launched Missile Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global submarine-launched missile market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the submarine-launched missile market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 313.7 Million |
| Market Forecast in 2028 | US$ 431.0 Million |
| Growth rate (2023 to 2028) | CAGR of 5.4% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is submarine-launched missile?
Submarine-launched missiles play a crucial role in the offensive capabilities of submarines, allowing them to deploy long-range attacks from underwater through torpedo tubes or missile silos. They are vital components of the arsenal, enabling strikes against targets on land, at sea, or in the air. Submarine-launched missiles come in various types, such as ballistic and cruise. Ballistic missiles, propelled by powerful rocket engines, follow predetermined trajectories and can reach targets thousands of kilometers away. They possess high speeds and the capability to carry nuclear or conventional warheads. On the other hand, cruise missiles, powered by jet engines or rocket motors, fly at lower altitudes and navigate using terrain following or GPS guidance systems. They offer greater maneuverability, extended loitering capabilities, and precise targeting. Submarines equipped with cruise missiles, such as guided missile submarines, provide a versatile and stealthy platform for engaging several targets.
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What are the growth prospects and trends in the submarine-launched missile industry?
The increasing geopolitical tensions and security concerns among nations and the extensive product utilization for providing covert and survivable platforms for long-range offensive capabilities are primarily driving the submarine-launched missile market. Besides this, the escalating focus of countries on modernizing their naval forces and the procurement of advanced subs equipped with innovative systems to enhance deterrence capabilities and contribute to maintaining a credible defense posture are further augmenting the market growth. Moreover, the inflating investments by nations in submarine-launched missile systems to upgrade sub fleets with improved missile technology are also catalyzing the global market. Apart from this, the increasing research and development (R&D) activities by the key organizations to enhance the capabilities of these projectiles, such as range, accuracy, stealth, and payload capacity, are anticipated to propel the submarine-launched missile market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Submarine-Launched Ballistic Missile (SLBM)
- Sea-Launched Cruise Missile (SLCM)
Application Insights:
- National Defense
- Technical Research
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BAE Systems Plc
- BrahMos Aerospace
- General Dynamic Corporation
- Lockheed Martin Corporation
- MBDA
- Raytheon Technologies Corporation
- The Boeing Company, etc.
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