A launch and recovery system for use by host vessel in launching and recovering a sub-ordinate vessel includes a ramp structure that is connected to a host vessel and movable so that at least its remote or distal end can be placed in the water, preferably at the stern of the host vessel. The ramp includes interior portions thereof that can be selectively flooded to control the buoyancy of the ramp at least its distal or remote end thereof to thus effect some measure of control of the inclination of the ramp. Additionally, one or more types of flow structures can be provided that effect control of the ramp as a function of water flow through and/or across the ramp. In one form, the flow structures can take the form of one or more thru-flow passages in the ramp so that water from the forward or leading side of the ramp can pass therethrough to the rearward or trailing side thereof. Various flow-control devices, such as moveable plates, baffles, or other members are controlled to increase or decrease flow rate through the flow passages to control the relative pitch or inclination of the ramp. In another form, the flow structures can take of the form of a movable fin or plane connected to the ramp structure that can be adjusted, either manually and/or as part of a control system, to control the relative pitch or inclination of the ramp.