Submarine Launched Missile Market Share

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

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


• Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America, along with key countries in each region


• Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis


• 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

Report Customization

MRFR offers report customization to valued customers. Below are the options available for customization:

Company Profiles

In-depth profiling of additional market players (3 to 4 companies)

Country-Level Analysis

Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)

Intended Audience

• OEMs


• Equipment/system suppliers


• Potential investors


• Key executive and strategy growth manager


• End users


• Technology investors


• Government institutions


• Consultancy firms