Submarine Launched Missile Market By Manufacturers, Regions, Type And Application, Forecast To 2023

Market Highlights

The global submarine launched missile market has seen a potential growth over the past few years and it has been expected that the demand will grow similarly during the forecast period. A submarine-launched missile is a missile that can be launched from a submarine. Submarine-launched missiles are classified into two categories as ballistic missiles (SLBMs) and cruise missiles (SLCMs). While the SLBMs are launched vertically, the SLCMs are launched in a low-altitude trajectory. The submarines equipped with these missiles enhance the undersea operations and are capable of countering enemy attacks across the water.

The changing nature of warfare has prompted countries to focus on fortifying security measures while developing advanced versions of military hardware and weaponry. An imperative need has emerged for the defense authorities, to engage in stricter combat capabilities, and to have stronger control over the surrounding or neighboring seas. As a result, there has been emphasis on the need for submarine-launched missiles, which are increasingly being added to the inventories of navies, globally.

Geographically, North America leads the global market in terms of expenditure and technological advancements, and thus generates a very high demand for the submarine-launched missiles. Although, Brazil and Canada make some investments in the development of such missiles, yet the market is primarily dominated by the US. In recent years, several Asian countries are involved in territorial disputes. In an attempt to augment the combat capabilities of the naval forces and with the changing nature of conventional warfare, some of the countries in the APAC region such as Australia, China, India, Japan, South Korea, and Taiwan are deploying submarines, integrated with cruise and ballistic missiles. The growth is significantly driven due to the rising number of maritime conflicts in the Indian Ocean and the South China Sea. As a result, the major countries of the region are actively augmenting their naval capabilities to counter any form of attacks from adversary.
On the other hand, in 2016, North America has the highest share of the market; however, military budget cuts of the US will affect the market by 2023. The Budget Control Act (BCA) passed by the US Congress in 2011 aims to cut $487 billion from the overall military spending over the next 10 years, with an additional sequestration of $495 billion to address the short-term fiscal concerns.

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Key Players
The prominent players in the submarine launched missile market include
Airbus Defense and Space,
Boeing Defense,
Space and Security,
BrahMos Aerospace Limited,
Lockheed Martin,
Raytheon,
BAE Systems,
General Dynamics,
MBDA and Moscow Institute of Thermal Technology

Market Research Analysis

In the recent years, there have been a large number of armed conflicts such as the Syrian Civil War, the India-Pakistan stalemate over Kashmir, the Lebanon conflict, the ongoing Israel-Palestine dispute, the Russia and Ukraine conflict over Crimea, and the conflicts between the US and North Korea.
With raging conflicts and growing extremist activities in several countries, there currently exists widespread humanitarian crises and instability. As a result, the defense authorities are focussing on having greater control over the surrounding and neighboring seas of their respective countries.

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Scope of the Report
This study provides an overview of the global submarine launched missile market, tracking market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global submarine launched missile market by its type, and regions.
By Type

Submarine-launched cruise missile (SLCM)
Submarine-launched ballistic missile (SLBM)
By Region
North America
Asia Pacific
Europe
Latin America
Middle East & Africa
Continued…..

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