Anti-Submarine Rocket Launch System Market Size
Anti-Submarine Rocket Launch System (ASRLS) Market size was valued at USD 5.9 billion in 2023 and is estimated to show a CAGR of over 10% between 2024 and 2032.
The market will grow with an increased demand from naval fleet modernization. ASRLS enjoys many advantages compared to conventional Anti-Submarine Warfare (ASW) systems such as expanded range, reduced reaction time, and improved accuracy. This makes it a compelling choice for navies seeking to enhance their ASW capabilities and meet changing threats.
Modernization is not only in the new building of ships but also in fitting existing ships with present technologies. Most existing ships have insufficient ASW capability, making them vulnerable to submarine attacks. ASRLS offers a modular and relatively easy solution for existing boat upgrading, enhancing their ASW capability without drastic changes.
| 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 (Enter Corporate Email ID’ for a Free Sample Report): https://www.marketinsightsresearch.com/request/download/6/105/Anti-Submarine-Rocket-Launch-System-ASRLS–Market |
Anti-Submarine Rocket Launch System Market Report Attributes
Report Attribute Details
Base Year 2023
Anti-Submarine Rocket Launch System Market Size in 2023\tUSD 5.9 Billion
Forecast Period\t2024 to 2032
Forecast Period 2024 to 2032 CAGR\t10%
2032 Value Projection\tUSD 14.3 Billion
Historical Data for\t2018 – 2023
No. of Pages\t230
Tables, Charts & Figures\t325
Segments covered\tProduct, Range, Platform, Guidance System
Growth Drivers\t
Increasing attention of governments toward naval fleet modernization
Escalating geopolitical tensions
Rising maritime security concerns
Accelerating technological developments
Pitfalls & Challenges\t
High cost of development and acquisition
Strict export control regulations
For example, Lockheed Martin Corporation in September 2023 handed over the first production of its Mk 57 Mod 7 Vertical Launching System (VLS) with the Anti-Submarine Rocket (ASROC) to the U.S. Navy. This represents a key milestone in upgrading the Navy’s fleet with upgraded ASW technology. Further, the new launch system also provides more capacity and flexibility for launching varied payloads, which also include anti-submarine rocket launch systems.
Increased geopolitical tensions and proliferation of submarines in various nations are key drivers of the growth of the anti-submarine rocket launch system market. Increased tensions create concerns for future underwater conflicts, compelling nations to prioritize Anti-Submarine Warfare (ASW) weaponry. Submarines are quiet, mobile, and armed with weapons, rendering them a big threat to marine interests, infrastructure & military properties. ASRLS is an instant-reaction, long-distance countermeasure to submarines, and it is viewed as essential for preventing and responding to potential disputes.
Anti-Submarine Rocket Launch System Market Trends
The market for the anti-submarine rocket launch system (ASRLS) is experiencing dramatic technological leaps. Developments in rocket motor technology, advances in inertial navigation, GPS & acoustic/magnetic homing systems, and the creation of sophisticated warheads with increased lethality & effectiveness are some indicators of technological progression in the market. In addition to this, the integration of AI algorithms into targeting & guiding systems provides autonomous threat detection, threat assessment, and decision-making, enhancing the performance of the overall system. Automation reduces operator effort and response time, leading to faster engagement and improved endurance.
For example, Raytheon created a new, high-thrust rocket motor for the future generation of ASRLS in October 2023. This technology has a longer range, quicker response times, and increased payload capacity, enhancing the system’s overall effectiveness.
Anti-Submarine Rocket Launch System Market Analysis
Discover more about the major segments defining this market
By product, the fixed launch systems segment accounted for approximately 55% of the market share in 2023. Fixed launch systems tend to be less complex and cheaper to manufacture & operate compared to portable launchers. This is particularly crucial for cost-sensitive navies or those requiring extensive ASRLS deployment. In addition to this, fixed launchers possess a less complex mechanical design, which can lead to higher reliability and reduced maintenance needs compared to portable launchers. This is particularly significant in harsh marine environments where system availability is extremely critical, thus driving segment growth.
Anti-Submarine Rocket Launch System Market Share
Lockheed Martin Corporation and BAE Systems plc together have a major share of approximately 20% in the market. Lockheed Martin is keen to recognize customer requirements and provide customized ASRLS solutions that meet individual operational needs. Furthermore, through research and development of advanced solutions, the company provide superior ASRLS systems with better detection and engagement features. This assists the company in maintaining a major position in the market.
BAE Systems Plc vertically integrates its ASRLS capabilities in design, manufacturing, and support services to minimize operations and maximize supply chain efficiency. By managing critical elements of the value chain, BAE Systems minimize costs, enhance quality, and maximize responsiveness to customer needs.
| Buy this Premium Research Report to explore detailed market trends – https://www.marketinsightsresearch.com/report/buy_now/6/105/Anti-Submarine-Rocket-Launch-System-ASRLS–Market |
Anti-Submarine Rocket Launch System Market Companies
Major companies operating in the anti-submarine rocket launch system (ASRLS) industry are
- BAE Systems plc
- Bharat Electronics Limited (BEL)
- Israel Aerospace Industries Ltd. (IAI)
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- Naval Group
- Northrop Grumman Corporation
- RTX Corporation
- Saab AB
- Thales Group
