The global hypersonic technology market size reached US$ 5.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Hypersonic technology refers to any speed of Mach 5 and beyond, representing an essential quantity of aircraft momentum compared with the speed of any object and sound in the air. It consists of points at which they begin to influence the flight dynamics that is commonly acknowledged to be in Mach and mph in circumstance of warm temperatures at sea levels. It includes hypersonic glide vehicles (HGV), hypersonic cruise missiles, and hypersonic spaceplanes as standard product types. As compared to supersonic speed, these technologies are five times the speed of sound, whereas supersonic is greater than the momentum of sound. Apart from this, it eliminates the response time for defense and offers optimal accuracy, maneuverability, and strength to avoid detection. As a result, hypersonic technology finds extensive applications in air-breathing propulsion systems, scramjet missiles, and manned and unmanned weapon systems.
Hypersonic Technology Market Trends:
The growth of the global hypersonic technology market can be attributed to the increasing threat of terrorism or geopolitical tensions, especially among neighboring countries, and the rising conflicts across the globe to gain dominance in commercial and defense arenas. In line with this, the intensifying need for effective offensive and defensive capabilities and ongoing investments by governments to enhance the overall efficacy of numerous military assets are acting as another growth-inducing factor. Additionally, the escalating awareness amongst individuals regarding the multiple benefits of using hypersonic technologies in war-like situations has prompted manufacturers to incorporate the solution in military flight vehicles to enable rapid response at a long-range, thus favoring the market growth. Moreover, the extensive usage of hypersonic technology to deliver nuclear loads at better velocities and outperform modern ballistic missile defense systems is supporting the market growth. Apart from this, ongoing product deployment in various military solutions and continuous research and development (R&D) activities to engineer hypersonic-enabled weapons in arsenals are positively augmenting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hypersonic technology market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, launch mode, range and end user.
Breakup by Type:
- Hypersonic Glide Vehicle
- Hypersonic Cruise Missile
- Hypersonic Spaceplanes
Breakup by Launch Mode:
- Air Launched
- Surface Launched
- Subsea Launched
Breakup by Range:
- Short Range
- Medium Range
- Intermediate Range
- Intercontinental Range
Breakup by End User:
- Air Force
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Dynetics (Leidos), Hermeus Corp., L3Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation and Raytheon Technologies Corporation.
|Base Year of the Analysis
||Type, Launch Mode, Range, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Dynetics (Leidos), Hermeus Corp., L3Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation and Raytheon Technologies Corporation.
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Key Questions Answered in This Report:
- How has the global hypersonic technology market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global hypersonic technology market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the launch mode?
- What is the breakup of the market based on the range?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global hypersonic technology market and who are the key players?
- What is the degree of competition in the industry?