In the present study, two phase flows around a projectile vertically launched from an underwater platform have been numerically investigated by using a three dimensional multi-phase RANS flow solver based on pseudo-compressibility and a homogeneous mixture model on unstructured meshes. The relative motion between the platform and projectile was described by six degrees of freedom equations of motion with Euler angles and a chimera technique. The propulsive power of the projectile was modeled as the fluid force acting on the lower surface of the body by the compressed air emitted from the underwater platform. Various flow conditions were considered to analyze the fluid-dynamics motion parameters of the projectile. The water level of platform and the current speed around the projectile were the main parametric variables. The numerical calculations were conducted up to 0.75sec in physical time scale. The dynamics tendency of the projectile was almost identical with respect to the water level variation due to the constant buoyancy term. The moving speed of the projectile along the vertical axis inside the platform decreased when the current speed increased. This is because the inflow from outside of the platform impeded development of the compressed air emitted from the floor surface of the launch platform. As a result, the fluid force acting on the lower surface of the projectile decreased, and injection time of the projectile from the platform was delayed.