The most common and most likely answer to this crossword clue is the 8 letter word TAKEOFFS
I've seen this crossword clue in Financial Times
T
A
K
E
O
F
F
S
Buddy explains!

The straight part
We know that "Launches/imitations" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case launches/imitations = takeoffs.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TAKEOFFS mean?
TAKEOFFS noun- The rising or ascent of an aircraft or rocket into flight.
- A parody or lampoon of someone or something.
- A quantification, especially of building materials.
- The removal of sheets from the press.
- The spot from which one takes off; specifically, the place from which a jumper rises in leaping.