Unlike sea-skimming, which prioritizes low-altitude flight to avoid radar detection but suffers from increased drag and limited range, lofting allows the missile to ascend to higher altitudes where air resistance is lower.
[1] Compared to direct-intercept trajectories, lofting also improves engagement flexibility by providing a steeper attack angle, which is particularly effective against maneuvering or high-altitude targets.
In comparison to sea-skimming trajectories, lofting lacks radar-avoidance characteristics, making it susceptible to detection by its target and potential interceptors.
Additionally, the thinner air which lofting utilizes to reduce drag and increase range carries the downside of impeding the ability for control surfaces to maneuver the missile.
This can reduce a missile's ability to adjust for fast-moving or maneuvering targets, however can be circumvented with the use of thrust vectoring - at the downside of added cost and complexity.