According to the recent research report titled ‘Global Submarine Launched Missile Market Size study, by By System (Vertical Launching System, Single Cell Launcher, Vertical Launch Anti-Submarine), By Mode (On-Surface, Submarine), By Launch Type (Hot Launch, Cold Launch, Concentric Canister Launch) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global submarine launched missile market is projected to grow considerably over 2021-2027.
 

Global submarine launched missile market growth is primarily driven by rising investments in product development, maintenance, and acquisition, along with growing emphasis of major economies on strengthening security measures. For instance, following the announcement in 2016 that the US nuclear capabilities will be upgraded, Russia commissioned designers to create and deploy Sarmat, an enhanced SLBM, by 2020.
 

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For the uninitiated, a ballistic missile that can be launched from submarines is known as a submarine-launched ballistic missile (SLBM). Modern variants typically deploy multiple independently targetable reentry vehicles (MIRVs), each with a nuclear payload, allowing a single launched missile to strike multiple targets at once.
 

The identification and destruction of unlawful ships and submarines have become a critical element in guaranteeing overall national security. In addition to this, increasing modernization plans by governments for navy fleets are significantly contributing to the market growth.
 

Despite the positive outlook, hefty cost associated with SLBM is likely to hinder the remuneration scope of the industry over the forecast period.
 

Coming to geographical ambit, Europe, North America, Asia Pacific, and Latin America are the leading areas studied for the regional assessment of the overall market. North America presently accounts for significant market share due to increasing investments in the development of submarine launched missiles to strengthen submarine forces.
 

It is worth mentioning that in June 2021, the United States Navy released a long-term ship-building paper that outlines the US government's emerging substitute for the 355-ship force-level goal.
 

Coming to competitive terrain, Saab AB, Roketsan A.S., Raytheon Company, Rafael Advanced Defense Systems Ltd., MBDA Missile Systems Inc., Lockheed Martin Corporation, Kongsberg Gruppen ASA, General Dynamics Mission Systems Inc., BAE Systems plc, and Aselsan Aselsan A.?.