The Life caption sayd Italian submarine, that's why it kept my attention, but clearly it is a US one and not Italian. Perhaps Salmon class? Can you identify it?
Nice pic in my opinion. DVX

US Navy submarine

An F6F-3 Hellcat from Fighting Squadron One (VF-1) being launched from the hangar deck catapult of USS Yorktown (CV-10) during her shakedown cruise near Trinidad in June 1943.(rudeerude)

Hellcat on the catapult

The LIFE caption says Italian submarine, this is the pair pic of the other. Can it help you larry41?
I post it among "US Navy"... 
DVX