Hypersonic Technology Market Report by Type (Hypersonic Glide Vehicle, Hypersonic Cruise Missile, Hypersonic Spaceplanes), Launch Mode (Air Launched, Surface Launched, Subsea Launched), Range (Short Range, Medium Range, Intermediate Range, Intercontinental Range), End User (Military, Air Force, Navy, Space), and Region 2024-2032
The global hypersonic technologymarket size reached USD 6.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 11.8 Billion by 2032, exhibiting a growth rate (CAGR) of 7.07% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
USD 6.2 Billion
Market Forecast in 2032
USD 11.8 Billion
Market Growth Rate (2024-2032)
7.07%
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 technologymarket report, along with forecasts at the global, regional and country level from 2024-2032. 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:
Military
Air Force
Navy
Space
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
Billion USD
Segment Coverage
Type, Launch Mode, Range, End User, Region
Regions Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Dynetics (Leidos), Hermeus Corp., L3Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation and Raytheon Technologies Corporation
Customization Scope
10% Free Customization
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global hypersonic technology market was valued at USD 6.2 Billion in 2023.
We expect the global hypersonic technology market to exhibit a CAGR of 7.07% during 2024-2032.
The increasing threat of terrorism or geopolitical tensions, along with the rising utilization of hypersonic technology to deliver nuclear loads at better velocities and outperform modern ballistic missile defense systems, is primarily driving the global hypersonic technology market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary halt in numerous aviation activities, thereby negatively impacting the global market for hypersonic technology.
Based on the type, the global hypersonic technology market has been divided into hypersonic glide vehicle, hypersonic cruise missile, and hypersonic spaceplanes. Among these, hypersonic glide vehicle currently exhibits a clear dominance in the market.
Based on the launch mode, the global hypersonic technology market can be categorized into air launched, surface launched, and subsea launched. Currently, air launched accounts for the majority of the global market share.
Based on the range, the global hypersonic technology market has been segregated into short range, medium range, intermediate range, and intercontinental range, where intercontinental range currently holds the largest market share.
Based on the end user, the global hypersonic technology market can be bifurcated into military, air force, navy, and space. Currently, military exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global hypersonic technology market include Dynetics (Leidos), Hermeus Corp., L3Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation.
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