Rapid advancements in scramjet technology coupeld with development of boost-glide propulsion technology and dual mode ramjet (DMRJ) is offering lucrative growth opportunities for the hypersonic market
Hypersonic weapons and vehicles are based on the phenomenon of hypersonic speed which excels the supersonic range. Hypersonic objects travel at a speed faster than sound and are thus technologically appealing. The hypersonic technology is capable of introducing a new class of fight vehicles displaying highly advanced capabilities achieving easier and quicker access to space. With ease of manoeuvrability and smooth flight, hypersonic technologies are becoming increasingly popular across military purposes.
Ideally, hypersonic weapons are not easily detected by the rival hence offering an efficient and successful offensive operation. Higher aerodynamic capabilities and constant upgradation in technologies are proposing considerable scope for technological development of hypersonic weaponry.
Increasing technological advancements, growing participation of multiple governments and the influx of investments are encouraging substantial rise in the growth and development of the global hypersonic market resulting in an estimated CAGR of 8.5% over the forecast years from 2018 to 2028.
Future growth scales and patterns of the hypersonic market parallelly examined with the current status of industry progress altogether outline the market attractiveness. Major growth altering factors primarily focus on the opportunities for the hypersonic market over the forecast years.
Key factors such as increasing territorial disputes, strenuous power struggle amongst global economic leaders and the extensive rise in investments accelerating research and development initiatives are propelling the growth of the global hypersonic market over the forecast years.
Increasing demand for next-generation technologies to elevate the military and defense capabilities, countries such as the U.S., China and Russia are extensively indulging in strengthening the existing inventory of technologies including weapons, devices, missiles, and vehicles.
In addition, fiercely growing space war among the same power rivals is also leading to robust competition in scaling up successful space operations and missions boosting the demand for hypersonic weaponry and vehicles.
Adroit Market Research report on the global hypersonic market entails a holistic overview with compartmentalization of the market from 2018 to 2020 throughout which the study covers crucial drivers, restrains, opportunities and challenges. the market has been assessed thoroughly through the historic phase from 2018 to 2020 exceeding the base year of market share analysis that is 2020 and the future forecast period from 2021 to 2028.
The report emphasizes on emerging trends, current status and future traits and patterns at lobal and country level. Further, the study applies Porter’s five forces analysis to assess the market in-depth and positions the key operators of the global hypersonic market based on their strategic initiatives, product portfolio, overall revenue, and geographic footprint prominently highlighting the influential participants.
The hypersonic market showcases a robust competition amongst the well-known, popular entities and the new market players. Also, the hypersonic industry players are approaching new avenues and seeking potential markets in order to acquire a significant competitive lead against other industry players by signing agreements, undergoing mergers, collaborating with other players, partnerships and acquisitions ultimately expanding the business presence.
Based on the type segment, the market is classified into air launched, surface launched and subsea launched hypersonic technologies. Burgeoning technological superiority is likely to fuel the growth of all the three segments however, the air launched hypersonic segment is anticipated to experience a sustainable growth over the forecast years owing to the increasing focus of economies to develop a highly equipped military base and government bodies indulging in large-scale adoption of air-launched systems.
North America has been a technological dominator in the past and has continued the longstanding efforts to develop next-generation technologies. Countries such as the United States have a well-flourished landscape of research institutions, public organizations and private companies constantly driving innovations and introducing highly advanced hypersonic technologies.
The regions also has a robust defense and military sector and an evolving space sector boosting the demand for hypersonic technologies. Power leaders Russia and China are also among the major economies with a solid hypersonic market exponentially adopting and deploying hypersonic weapons, missiles and vehicles. Additionally, countries like India, Australia, Japan, Germany and France are scaling up the development of hypersonic technologies.
The major players of the global hypersonic market are Raytheon Company, Lockheed Martin Corporation, The Boeing Company, Kratos Defense & Security Solutions, Northrop Grumman Corporation, Brahmos Aerospace, Aerojet Rocketdyne Holdings, SAAB AB, BAE Systems, Hermeus Corp, Velontra, Reaction Engines and China Aerospace Science & Industry Corp. the hypersonic market is composed of several local players with a strong foundation and globally acknowledged market players. The previously recognized market players are coming forth with a wide range of new and advanced strategies and product development initiatives with the purpose of sustaining in the global competition.
Key Segments of the Global Hypersonic Market
Type Overview, 2018-2028 (USD Billion)
- Air Launched
- Surface Launched
- Subsea Launched
Application Overview, 2018-2028 (USD Billion)
Product Overview, 2018-2028 (USD Billion)
- Hypersonic Glide Vehicle
- Hypersonic Spaceplanes
- Hypersonic Cruise Missile
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa