Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Submarine-Launched Missile Market by Type (Submarine-Launched Ballistic Missile, Sea-Launched Cruise Missile), Application, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global submarine-launched missile market size reached US$ 313.7 Million in 2022. Looking forward, the publisher expects the market to reach US$ 431.0 Million by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028
The global submarine-launched missile market is primarily driven by several key factors. First, increasing geopolitical tensions and security concerns among nations have led to a growing demand for submarine-launched missiles. These missiles offer a strategic advantage by providing covert and survivable platforms for long-range offensive capabilities, enhancing deterrence capabilities, and maintaining a credible defense posture.
Second, the modernization of naval forces is a significant driver of the market. Many countries are investing in the modernization of their naval fleets, including the procurement of advanced submarines equipped with submarine-launched missile systems. Upgrading submarine fleets with improved missile technology helps nations maintain or gain a competitive edge in naval warfare and power projection.
Third, submarine-launched ballistic missiles (SLBMs) with nuclear warheads play a critical role in a nation's nuclear deterrence strategy. Several countries are investing in submarine-launched missile systems to strengthen their nuclear deterrence capabilities.
Fourth, extensive research and development (R&D) activities are being undertaken by key players in the market to enhance the capabilities of submarine-launched missiles. This includes improving factors like range, accuracy, stealth, and payload capacity, which contributes to market growth.
Fifth, submarine-launched missiles come in various types, including ballistic missiles and cruise missiles. Ballistic missiles offer high speeds and the ability to carry nuclear or conventional warheads over long distances. Cruise missiles, on the other hand, provide versatility, stealth, and precision strike capabilities.
Finally, regional dynamics also play a significant role in the market, with North America being a major player. The region's presence in the submarine-launched missile market is attributed to factors such as national security concerns, modernization efforts in naval forces, and the development of enhanced submarine-launched missiles.
In summary, the submarine-launched missile market is influenced by a combination of factors, including geopolitical tensions, naval modernization, nuclear deterrence strategies, R&D activities, and the diverse capabilities offered by different types of submarine-launched missiles.
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?
Competitive Landscape:
- BAE Systems Plc
- BrahMos Aerospace
- General Dynamic Corporation
- Lockheed Martin Corporation
- MBDA
- Raytheon Technologies Corporation
- The Boeing Company
Key Market Segmentation:
Type Insights:
- Submarine-Launched Ballistic Missile (SLBM)
- Sea-Launched Cruise Missile (SLCM)
Application Insights:
- National Defense
- 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
For more information about this report visit https://www.researchandmarkets.com/r/s4rhss
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