Global Submarine Launched Missile Market to Reach USD 536.18 Million by 2032 | CAGR of 5.5%
Category : Aerospace and Defence | Published Date : Jan 2025 | Type : Press Release
Submarine Launched Missile Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Submarine Launched Missile Market was valued at USD 350.45 million in 2024 and is projected to grow at a CAGR of 5.5%, reaching USD 536.18 million by 2032. Submarine-launched missiles are advanced systems designed for deployment from submarines, offering capabilities for strategic and tactical defense. These systems are essential in modern naval warfare, providing enhanced stealth, precision, and operational flexibility.
The report comprises the Submarine Launched Missile Market Share, Size & Industry Analysis, based on Type (Ballistic Missiles, Cruise Missiles), Range (Short-Range, Medium-Range, Intermediate-Range, Intercontinental), Propulsion Type (Solid-Propellant, Liquid-Propellant, Hybrid-Propellant), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America), and Forecast, 2025-2032.
The report contains detailed information on Submarine Launched Missile Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Segmental Analysis :
Based on type, the market is segmented into Ballistic Missiles and Cruise Missiles.
- The Ballistic Missiles segment held the largest market share in 2024, attributed to its capability to deliver heavy payloads over long distances. Technological advancements, including improved navigation systems and rapid reentry speeds, further boost its adoption for strategic defense.
- The Cruise Missiles segment is projected to grow at the fastest CAGR, driven by their precision in tactical operations, reduced collateral damage, and enhanced stealth features.
Based on range, the market is segmented into Short-Range (Up to 1,000 km), Medium-Range (1,000-3,000 km), Intermediate-Range (3,000-5,500 km), and Intercontinental (Above 5,500 km).
- The Intercontinental Range segment accounted for the largest revenue share in 2024, driven by its critical role in long-range deterrence strategies and global strike capabilities.
- The Medium-Range segment is expected to grow at the fastest CAGR, supported by its versatility and rising deployment in regional security operations.
Based on propulsion type, the market is segmented into Solid-Propellant, Liquid-Propellant, and Hybrid-Propellant.
- The Solid-Propellant segment dominated the market in 2024, due to its quick launch readiness, reduced maintenance requirements, and stability during storage.
- The Hybrid-Propellant segment is anticipated to grow at the fastest rate, driven by its improved efficiency, flexibility, and reduced environmental impact.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2024, with a valuation of USD 103.21 million. Countries like China and India are investing in advanced missile systems for regional security and strategic deterrence.
- North America is projected to grow at the fastest CAGR, driven by significant investments in modernizing naval fleets and integrating advanced missile technologies.
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 536.18 Million |
| CAGR (2025-2032) | 5.5% |
| Type | Ballistic Missiles, Cruise Missiles |
| Range | Short-Range, Medium-Range, Intermediate-Range, Intercontinental |
| Propulsion Type | Solid-Propellant, Liquid-Propellant, Hybrid-Propellant |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Submarine Launched Missile Industry:
- Lockheed Martin Corporation (USA)
- Northrop Grumman Corporation (USA)
- Raytheon Technologies Corporation (USA)
- Boeing Defense, Space & Security (USA)
- General Dynamics Corporation (USA)
- BAE Systems plc (UK)
- Thales Group (France)
- Naval Group (France)
- Mitsubishi Heavy Industries, Ltd. (Japan)
- Saab AB (Sweden)
Recent Industry Developments :
- November 2024: MBDA introduced the Exocet SM40, a submarine-launched anti-ship missile designed for modern naval warfare. The system features advanced J-band RF seekers, enhanced target discrimination, and a turbojet engine for extended range.
