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Anti-Submarine Rocket Launch System (ASRLS) Market Trends

Report ID: GMI8160
Published Date: Feb 2024
Report Format: PDF

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Anti-Submarine Rocket Launch System Market Trends

The anti-submarine rocket launch system (ASRLS) industry is witnessing significant technological advancements. Improvements in rocket motor technology, advancements in inertial navigation, GPS & acoustic/magnetic homing systems, and the development of advanced warheads with increased lethality & effectiveness are some examples of technological advancement in the market. Along with this, the introduction of AI algorithms into targeting & guiding systems offers autonomous target detection, threat assessment, and decision-making, improving overall system performance. Automation minimizes operator effort and reaction times, resulting in speedier engagement and better durability.

For instance, in October 2023, Raytheon developed a new, high-thrust rocket motor for the next generation of ASRLS. This innovation offers a longer range, faster response times, and larger payload capacity, improving the system's overall efficacy.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of anti-submarine rocket launch system (ASRLS) reached USD 5.9 billion in 2023 and is set to witness 10% CAGR from 2024 to 2032, led by growing demand with the modernization of naval fleets.

The surface ships segment held the highest share of around 56% in the market in 2023, as they provide inherently versatile platform for a variety of operations.

North America is the fastest-growing region in the market with a major share of around 37% in 2023, attributed to ongoing geopolitical tensions and maritime disputes.

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, and Thales Group.