NEW YORK, US, April 11, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Hypersonic Technology Market By Launch Method (Sub-Launch, Sea launch, Surface Launch, and Air Launch), By Range (Medium Range, Short Range, Intercontinental Range, and Intermediate Range), By Type (Missiles, Hypersonic Spaceplanes, and Hypersonic Glide Vehicles), By End-User (Navy, Air Force, Military, and Space), and By Region-Global and Regional Industry Outline, Market Insights, Inclusive Analysis, Statistical Data, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Hypersonic Technology Market size & share was valued about 6.8 (USD billion) in 2021and it is expected to surpass around 12.5 (USD billion) Mark, by 2028, with a compound annual growth rate (CAGR) of roughly 9.5% during the forecast period 2022 to 2028.” The study investigates several elements and their consequences on the growth of the hypersonic technology market.
What is Hypersonic Technology? How big is the Hypersonic Technology Market?
Market Overview:
Hypersonic refers to speeds of Mach 5 or higher. Hypersonic travel is, clearly, supersonic travel on steroids. But, unlike "supersonic," which has a specific explanation of being faster than the speed of sound, "hypersonic" is a little more ambiguous. In general, hypersonic speeds are the point where the particles of air surrounding the aircraft begin to change by dissociating (breaking apart) and/or collecting the electrical charge. Because these things don't happen at a fixed speed, the term "hypersonic" refers to the point at which they begin to have an effect on the dynamics of flight, which is commonly acknowledged to be Mach 5 or 3,836.35 mph in circumstances of 20°C at sea level.
However, hypersonic research is not solely concerned with speed. It is also the technology's ability for accuracy, maneuverability, and ability to avoid detection that makes it so desirable.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 6.8 Billion |
| Projected Market Size in 2028 | USD 12.5 Billion |
| CAGR Growth Rate | 9.5% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Northrop Grumman Corporation, Brahmos Aerospace Pvt. Ltd. Dynetics Inc., Aerojet Rocketdyne Holdings Inc., Saab AB, L3 Harris Technologies Inc., Lockheed Martin Corporation, General Dynamics Corporation, Raytheon Company, SpaceX, The Boeing Company, Thales Group., and Others. |
| Key Segment | By Launch Method, Range, Type, End-User, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Global Hypersonic Technology Market Dynamics:
Growth Drivers
- Growing global R&D investments are expected to drive market growth
The precision of hypersonic weapons is projected to be a primary driver of hypersonic technology market growth. Furthermore, countries including the United States, India, China, and Russia are investing heavily in hypersonic weapons R&D to improve their respective military capabilities, which are projected to propel the global hypersonic technology market forward. During the projected period, the global market is expected to develop due to an increase in conflicts across the globe to acquire dominance in commercial or defense sectors. Hypersonic technology's advantages in war-like scenarios can be extremely useful in making quick military judgments. Hypersonic vehicles travel at speeds greater than 5 times the speed of sound, allowing for a new class of long-range military reactions. During the forecast period, these factors are projected to offer new opportunities for the hypersonic technology market.
Challenges
- Thermal protection, communication, and maneuverability continue to be significant challenges in designing, building, and fielding a reliable hypersonic weapon
However, the challenges of testing hypersonic airflows to approximate hypersonic flight velocity constitute a roadblock to hypersonic technology development. Even simulation technologies are insufficient for estimating vehicle performance at high speeds. The lack of advanced technologies that are incredibly powerful, ultra-light, and nonflammable, have a positive temperature coefficient, and can be sustained at hypersonic speeds is another important hindrance to the hypersonic technology market's growth.
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Hypersonic Technology Market: Segmentation Analysis
The global hypersonic technology market is segregated on the basis of launch method, range, type, end-user, and region.
By launch method, the market is classified into sub-launch, sea launch, surface launch, and air launch. Over the forecast period, the air-launch segment is estimated to have a significantly higher revenue share. By range, the market is divided into medium range, short range, intercontinental range, and intermediate range. During the forecast period, the intercontinental range is anticipated to lead the global market in terms of revenue contribution.
By type, the market is divided into missiles, hypersonic spaceplanes, and hypersonic glide vehicles. The missile segment is divided further into hypersonic cruise missiles and hypersonic ballistic missiles. Revenue from the hypersonic glide vehicle category is anticipated to grow at an accelerated CAGR due to an increased preference for better maneuverability, precision, and speed advantage over traditional ballistic missiles. By end-user, the market is classified into the navy, air force, military, and space. During the forecast period, the military segment is estimated to account for the largest revenue share in the global hypersonic technology market.
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Competitive Landscape (Hypersonic Weapons Manufacturers)
Some of the main competitors dominating the global hypersonic technology market include -
- Northrop Grumman Corporation
- Brahmos Aerospace Pvt. Ltd.
- Dynetics Inc.
- Aerojet Rocketdyne Holdings Inc.
- Saab AB
- L3 Harris Technologies Inc.
- Lockheed Martin Corporation
- General Dynamics Corporation
- Raytheon Company
- SpaceX
- The Boeing Company
- Thales Group
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the hypersonic technology market is estimated to reach a CAGR of around 9.5 % during the forecast period.
- The hypersonic technology market was valued at around US$ 6.8 billion in 2021 and is projected to reach US$ 12.5 billion, by 2028.
- By launch method, the air-launch segment is expected to have a much higher revenue share within the forecast timeframe.
- By type, Revenue from the hypersonic glide vehicle category is anticipated to grow at an accelerated CAGR due to an increased preference for better maneuverability, precision, and speed advantage over traditional ballistic missiles.
- By end-user, the military segment is estimated to account for the largest revenue share in the global market.
- On the basis of region, the Asia Pacific market is expected to grow at a rapid rate during the forecast period.
Key questions answered in this report:
- What is the market size and growth rate forecast for the Hypersonic Technology industry?
- What are the main driving factors propelling the Hypersonic Technology Market forward?
- What are the leading companies in the Hypersonic Technology Industry?
- What segments does the Hypersonic Technology Market cover?
- How can I receive a free copy of the Hypersonic Technology Market sample report and company profiles?
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COVID-19 Impact on Hypersonic Technology Market:
The COVID-19 pandemic has had a negative impact on global business. It also had an impact on the development of difficult and expensive technologies such as hypersonic technologies. The development and testing processes were halted due to the government-imposed lockdown. As a result, it had an impact on the overall deployment.
Detrimental disruption and the economic downturn have put a halt to the adoption of technologies such as hypersonic and aircraft missiles. In 2020, the COVID-19 outbreak halted raw material imports and exports. As a result, the scarcity of raw materials hampered the production of ground defense equipment.
Regional Dominance:
Which country has hypersonic technology and Drives the market growth?
During the forecast period, the Asia Pacific market is expected to grow at a faster CAGR, resulting in increased investments to advance military capabilities. Regional conflicts in the region have tended to result in investments in hypersonic missile advancement by countries such as India, China, and Japan, which is driving the market growth.
Recent Developments
- September 2021: The United States tested a hypersonic air-breathing weapon concept (HAWC). Raytheon Technologies built the missile, which was launched from an aircraft equipped with a scramjet engine developed by Northrop Grumman Corporation. The HAWC vehicle performs best in an oxygen-rich environment, and its speed and maneuverability make it difficult for air defense systems to detect. It can strike targets much faster than subsonic missiles and cause major damage even without the use of high explosives.
- August 2021: The US Air Force (USAF) and venture capital firms contributed USD 60 million to the development of the world's first reusable hypersonic passenger plane, which can travel five times faster than the speed of sound and significantly reduce travel time. The company has been asked to build three prototypes of the aircraft that will be tested, as well as reusable hypersonic propulsion systems.
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The global hypersonic technology market is segmented as follows:
By Launch Method
- Sub-Launch
- Sea Launch
- Surface Launch
- Air Launch
By Range
- Medium Range
- Short Range
- Intercontinental Range
- Intermediate Range
By Type
- Missiles
- Hypersonic Spaceplanes
- Hypersonic Glide Vehicles
By End-User
- Navy
- Air Force
- Military
- Space
By Region
- North America
- The U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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