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The global submarine-launched missile market is anticipated to grow at a steady rate and will post a CAGR of close to 5% during the forecast period. Increasing investments in the development of submarine-launched missiles will drive the growth prospects for the global submarine-launched missile market in the forthcoming years. The rising need for countries to maintain their competitiveness on a global level will lead to the extensive development of advanced submarine-launched missiles. Also, various regions such as the Americas and Europe are increasing their investments in the development of submarine-launched missiles to strengthen their submarine forces. Moreover, such investments will help in the development, maintenance, and procurement of various missile systems. For instance, in 2016, post the announcement of the modernization of the US nuclear forces, Russia commissioned designers to design and develop Sarmat, an advanced SLBM, by 2020.
The emergence of 3D printed submarine-launched missiles will drive the growth prospects for the global submarine-launched missile market in the forthcoming years. At present, 3D printing technology is increasingly replacing conventional techniques such as the computerized numerical control (CNC) cutting, mold manufacturing, or canvas printing. One of the major factors responsible for the growing popularity of 3D printing technology is its increasing use in printing electronics directly onto 3D surfaces, such as on rocket engines, missile fins, and their guidance systems. Also, since it reduces the size and weight of submarine-launched missile systems, it is highly preferred in the submarine industry. Some of the benefits of using of 3D-printed submarine-launched missiles are its cost efficiency, improved competence of missiles, just-in-time (JIT) manufacturing, optimized performance, and weight reduction.
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The global submarine-launched missile market is highly diversified and competitive due to the presence of a large number of regional and international vendors across the globe. Some of the factors that determine the market opportunity for vendors are intense competition, frequent changes in government policies, rapid advances in technology, and environmental regulations. In addition, to gain a competitive advantage over the counterparts, these vendors are increasingly focusing on in-house manufacturing capabilities, product offerings, global footprint network, client bases, and research and development investments.
Key vendors in this market are -
Other prominent vendors in the market include BAE Systems, General Dynamics, MBDA, and Moscow Institute of Thermal Technology.
An SLBM segment accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the increasing introduction of advanced submarines by navies of several countries that will further boost the demand for SLBMs.
In terms of geography, the Americas accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. North America leads the global market in terms of expenditure and technological advancements and generates a very high demand for submarine-launched missiles.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
Tags: ballistic missile, nuclear submarine, defense technology, department of defense, defense market analysis, aerospace and defense industry analysis,
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