The global submarine-launched missile market was valued at around USD 5 billion in 2016 and is expected to surpass USD 6 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global submarine-launched missile market to its defense portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Airbus Defense and Space, Boeing Defense, Space & Security, BrahMos Aerospace, Lockheed Martin, and Raytheon.
According to Moutushi Saha, a lead analyst for defense research at Technavio, “The use of 3D printing technology conventional methods like computerized numerical control (CNC) cutting, mold manufacturing, or canvas printing can be bypassed. It allows modeling and redesigning of components with minimum wasted and exact precision.”
3D printing technology can be used directly on electronics to create 3D surfaces that include rocket engines, missile fins, and their guidance systems. This technology also helps to reduce the size and weight of submarine-launched missile systems. It is an innovative printing method allows cost-efficient and just-in-time (JIT) manufacturing of parts and permits quick design and rapid changes of internal features in missiles.
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Advanced undersea warfare capabilities
Factors such as the emergence of submarines that are capable of stealth attacks and increasing emphasis on undersea warfare will help in the transformation of the submarine-launched missile market. The modernization and initiation of some submarine-launched missile programs will add a new dimension to the submarine force. China recently started deploying advanced nuclear attack and ballistic missile submarines throughout the world and is also developing nuclear ballistic missiles in a bid to neutralize enemy units.
Rapid procurement of Tomahawk SLCMs
The Tomahawk land attack missile (TLAM) is an all-weather, long-range, and subsonic cruise missile, manufactured by Raytheon. TLAM is a specially designed missile that can fly into heavily defended airspace more than 1,000 miles away from the point of launch and precisely strike high-value targets with minimal collateral damage.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Submarine Launched Missile Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Submarine Payload and Launch Systems Market 2016-2020
- Global Submarine Sensors Market 2016-2020
- Global Submarine Market 2016-2020
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