(Adding on to my previous post)
Strengths and Weaknesses:
Air-launched missiles have a smaller blast, less damage to players, and won't explode if they hit at a sharp angle. The air-launched missiles will also suffer from high dispersion(forward, backward, left, and right). (This will also prevent missile strikes from being too OP.) One advantage though is that multiple missiles will be fired in one launch

2nd Idea
Multiblock Ballistic missiles(and stuff)
Torpedos, bombs, and depth charges are all fine and dandy, but I wanted there to be a VERY powerful land-attack weapon, such as a ballistic missile. Some of its strengths would be that it has a VERY long range and great explosion power, can be fitted with different warheads to do different things, and have high armor-piercing(if armor-piercing gets fixed). Some of its drawbacks would be that it will have a much lower speed, cannot follow moving targets, and requires expensive components to build and operate(target finder, onboard guidance(GPS machine maybe?) It would also be a craft class of its own, with specific limits to how it can be built.

Anti-ship / Cruise missiles
These missiles will be smaller and will behave differently from ballistic missiles. They will be very maneuverable, have high speed, and possess a unique way of damaging craft: shockwaves. Shockwaves will be a medium-sized(4-9 block) area in which magazine containers will have a chance of detonation, decreasing as you move outwards from the explosion.
They would also be steerable and have some way to know where the target is

Stuff for both types of missiles
Also, it would be cool if there was also a "damaged block" effect that would alter blocks within the vicinity of the explosion, changing them to another block or whatnot.