Hypersonic Technology Market size to Grow by USD 6.30 billion | Emergen Research
The global hypersonic technology market size reached USD 6.30 billion in 2020 and is expected to register a revenue CAGR of 9.9% during the forecast period, according to latest analysis by Emergen Research. Increase in geopolitical conflict over the years has resulted in an arms race and countries ramping up military and defense capabilities. The recent withdrawal of the US and Russia from the Intermediate-Range Nuclear Force Treaty (INF Treaty), which bans development of intermediate range missiles, and increasing actions by China in Asia Pacific has resulted in countries increasing defense expenditure.
Increasing focus on new and more advanced technologies in various developed countries to strengthen defense capabilities and develop weapons of higher precision and better capabilities is a trend in the market. Hypersonic missiles that has been developed and tested by the US, Russia, and China can attack multiple targets and with higher precision than conventional missiles, and can also carry nuclear warhead. These are some of the key factors driving need among other countries to have similar or more advanced capabilities, which is driving growth of the global hypersonic technology market.
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Some major companies included in the global market report are
BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, The Boeing Company, Reaction Engines Limited, MBDA Missile Systems, Hermeus Corporation, Velontra LLC, and Dynetics Inc.
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Technological and innovation landscape
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The report further divides the hypersonic technology market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the hypersonic technology market.
Emergen Research has segmented global hypersonic technology market on the basis of launch mode, range, type, end-use, and region:
Launch Mode Outlook (Revenue, USD Billion; 2018–2028)
Range Outlook (Revenue, USD Billion; 2018–2028)
Type Outlook (Revenue, USD Billion; 2018–2028)
Hypersonic Ballistic Missiles
Hypersonic Cruise Missiles
Hypersonic Glide Vehicle
End use Outlook (Revenue, USD Billion; 2018–2028)
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Key Highlights from the Report
Hypersonic glide vehicle segment revenue is expected to expand at a substantially rapid CAGR during the forecast period due to higher preference owing to cost-effectiveness and capability of delivering multiple warheads with better precision.
Military segment is expected to register a significantly robust revenue growth rate over the forecast period as a result of increasing geopolitical conflicts and developed countries fortifying defense capabilities with more to advanced military weapons.
North America is expected to register a considerably robust revenue growth rate among other regional markets in the global hypersonic technology market over the forecast period. This can be attributed to robust presence of companies engaged in developments in hypersonic technologies such as BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation, among others in countries in the region.
Regional Bifurcation of the Hypersonic Technology Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Questions addressed in the report:
What is the estimated market growth rate throughout the forecast period?
Which end-use industry is expected to witness the highest demand for Hypersonic Technology in the near future?
What is the regulatory framework governing the application of Hypersonic Technology in the food industry?
Which manufacturing processes are utilized for the production of Hypersonic Technology?
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