Submarine Launched Missile Market - Trends and Forecasts from 2017 To 2023

Veröffentlicht von: MRFR
Veröffentlicht am: 09.01.2018 07:15
Rubrik: Industrie & Handwerk


(Presseportal openBroadcast) - 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 Submarine Launched Missile 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.

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Key Players

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

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.

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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For the purpose of this study, the global submarine launched missile market has been segmented on the basis of types, and regions. On the basis of type, the market has been segmented as Submarine-launched cruise missile (SLCM) and Submarine-launched ballistic missile (SLBM).

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