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Submarine Launched Missile Market Size

ID: MRFR//3196-HCR | 100 Pages | Author: Sejal Akre| June 2024

The Submarine Launched Missile Market is characterized by dynamic market dynamics influenced by geopolitical considerations, advancements in missile technology, and the strategic modernization efforts of naval forces globally. One key market dynamic is the increasing focus on undersea deterrence, where submarine-launched missiles play a crucial role. As nations seek to enhance their naval capabilities and maintain a credible deterrence posture, the demand for technologically advanced and versatile submarine-launched missiles rises, driving market dynamics.

Geopolitical tensions and regional security concerns contribute significantly to market dynamics in the Submarine Launched Missile Market. Nations around the world are investing in submarine fleets equipped with advanced missile systems to secure their maritime interests and deter potential adversaries. Market dynamics are influenced by the strategic importance of submarine-launched missiles in maintaining a credible second-strike capability, providing naval forces with a potent and stealthy means of delivering precise and long-range firepower.

Technological advancements and innovation represent key market dynamics in the Submarine Launched Missile Market. Continuous research and development efforts are directed towards enhancing the range, accuracy, and stealth capabilities of submarine-launched missiles. The integration of advanced guidance systems, propulsion technologies, and the development of hypersonic missiles are shaping market dynamics by providing navies with cutting-edge capabilities. As nations strive to stay ahead in missile technology, market dynamics are driven by the competition to develop and deploy the most sophisticated and effective submarine-launched missiles.

The emergence of new submarine programs and modernization initiatives contributes to market dynamics in the Submarine Launched Missile Market. Navies worldwide are investing in the construction of new submarines and the retrofitting of existing ones to equip them with state-of-the-art missile systems. Market dynamics are shaped by these modernization efforts, as nations seek to maintain a strategic edge in undersea warfare. The introduction of next-generation submarines and their associated missile systems drives market dynamics by creating opportunities for missile manufacturers and system integrators to supply advanced solutions.

Naval arms races and the pursuit of strategic parity influence market dynamics in the Submarine Launched Missile Market. As nations aim to strengthen their naval capabilities, particularly in the context of peer and near-peer competition, the demand for advanced submarine-launched missiles rises. Market dynamics are characterized by the need to maintain a balance of power, driving investments in submarines and their associated missile systems. The quest for strategic advantage and deterrence capabilities contributes to market dynamics as countries engage in efforts to acquire cutting-edge submarine-launched missile technologies.

International collaborations and defense partnerships are significant market dynamics in the Submarine Launched Missile Market. Given the complexity and cost of developing advanced missile systems, nations often engage in collaborative efforts and defense partnerships to pool resources and expertise. Market dynamics are influenced by joint development programs and cooperative ventures, fostering technology transfer and knowledge sharing among participating countries. These collaborations contribute to market dynamics by creating a global landscape where submarine-launched missile technologies are shared, developed, and deployed collectively.

The emphasis on multifunctional capabilities and the integration of conventional and nuclear deterrence contribute to market dynamics in the Submarine Launched Missile Market. Modern submarines are designed to carry a mix of missile types, enabling navies to address a spectrum of threats and operational scenarios. Market dynamics are shaped by the need for versatile submarine-launched missile systems that can serve both strategic nuclear deterrence and conventional precision strike roles. The integration of diverse missile capabilities enhances market dynamics by providing naval forces with a flexible and adaptable undersea firepower capability.

Market dynamics are also influenced by arms control agreements and non-proliferation efforts in the Submarine Launched Missile Market. International agreements and treaties play a role in shaping market dynamics by influencing the development, deployment, and limitations of submarine-launched missile systems. Compliance with arms control agreements and efforts to prevent the proliferation of advanced missile technologies impact market dynamics by setting parameters for the capabilities and numbers of submarine-launched missiles that nations can possess.

Submarine Launched Missile Market Overview

Submarine Launched Missile Market Size is expected to reach USD 500.1 Million by 2030, registering a CAGR of 5.5% during 2024-2030.

A submarine-launched missile can be launched from a submarine, water to air, or water to the ground. Submarine-launched missiles are categorized into ballistic missiles (SLBMs) and cruise missiles (SLCMs). SLCMs can be launched in a low-altitude trajectory, whereas SLBMs are launched vertically. The global submarine-launched missile market is anticipated to register a CAGR of about 7% during the forecast period. The major driver for the market is the rising focus of countries on fortifying security measures while developing modified versions of military weaponry and hardware. There is a rising need for the defense authorities of various countries, to engage in combat capabilities, and to exercise enhanced control over the country’s border or neighboring countries.

Segmentation of the Submarine Launched Missile Market

MRFR segments the global submarine launched missile market based on type, application, and region. Based on type, submarine-launched cruise missile (SLCM) segment accounted for the largest market share of 67.36% in 2018 and is projected to show a CAGR of 8.69% during the forecast period. Based on application, national defense segment is anticipated to register the highest CAGR  2018 due to rising territorial dispute among the countries. Based on region, Asia-Pacific has the largest demand for the submarine launched missile market. The aircraft turbofan engine market is emerging China, India, and Japan, among other countries, and is projected to grow at a high rate due to the rising naval spending during the forecast period. North America leads the global submarine-launched missile market in terms of government spending and technological advancements, thereby generating a very high demand for submarine-launched missiles. Although Canada invests significantly in the development of such missiles, the market is primarily driven by the US.

Recent Development

On September 27, 2023, Lockheed Martin successfully launched an unarmed Trident II D5 Life Extension Fleet Ballistic Missile (FBM) as part of Demonstration and Shakedown Operation-32 (DASO-32) with the U.S. Navy.

Key Players

The key players in the submarine launched missile market are Airbus Defense and Space (Germany), Boeing Defense (US), BrahMos Aerospace Limited (India), Lockheed Martin Corporation (US), Raytheon Company (US), BAE Systems (UK), General Dynamics (UK), MBDA (France), and Moscow Institute of Thermal Technology (Russia).

Research Methodology

The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.

Secondary Research

In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.

Primary Research

In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.

Key Insights

  • Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments

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  • Technology Trends, Regulatory Landscape, and Patent Analysis Outlook

  • Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions

  • Regional attractiveness and related growth opportunities

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