Supersonic vs Hypersonic Weapons Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Supersonic vs Hypersonic Weapons Market Analysis
The market for supersonic and hypersonic weapons is projected to witness a CAGR of more than 6% during the forecast period.
The Covid-19 pandemic has affected the global economy drastically in 2020. Although defense spending is on an increasing trend in 2020, the economic effect of the pandemic might force the governments to reduce defense spending growth levels in the years to come, thereby affecting the R&D spending. This might affect the Supersonic and Hypersonic Weapons Market during the forecast period.
Countries, like Russia, China, India, and the United States, are progressing with research in many advanced hypersonic weapon technologies, and many countries are about to join the race in the future. The growing number of partnerships between the companies in developing supersonic and hypersonic weapons is helping technological advancements in the industry.
The increasing global conflicts and the belief in deterrence theory are propelling the nations to develop advanced nuclear-capable supersonic and hypersonic weapons, thereby, driving the market growth.
Supersonic vs Hypersonic Weapons Market Trends
This section covers the major market trends shaping the Supersonic & Hypersonic Weapons Market according to our research experts:
Missile Segment Registered the Highest Revenue Share in 2020
The missile segment currently has the highest share in the market. This is mainly due to the increasing procurement of missiles by various countries in the world. While cruise missiles are among the most procured missiles, research is also in progress for developing advanced ballistic missiles, especially hypersonic. Several countries have developed their missile defense programs to counter threats from other countries. For instance, as a part of the Indian Ballistic Missile Defence Programme, an initiative to create and deploy a multi-layered ballistic missile defense system to protect India from ballistic missile attacks, the country is procuring supersonic and hypersonic missiles from various countries, in addition to developing its ballistic missiles. Also, countries in the Middle East, like Israel and Iran, are testing and including supersonic and hypersonic missiles in their armory in the wake of rising political tensions in the region. In October 2021, Lockheed Martin and Israel Aerospace Industries (IAI) announced their partnership to develop a hypersonic interceptor missile, boosting Israeli air defense capabilities. Such developments are expected to further drive the growth of the segment during the forecast period.
Europe was the Largest Market for Supersonic and Hypersonic Weapons in the World in 2020
Due to major developments in supersonic and hypersonic weapon technologies by many countries in the region, Europe remained the largest revenue generator for supersonic and hypersonic weapons. Russia has been the primary demand-generating country in the region. The country is progressing forward with the development of many advanced missile systems. In November 2021, Russia announced that its navy has successfully test-fired a prospective hypersonic missile. The Defense Ministry said the Admiral Gorshkov frigate in the White Sea launched the Zircon cruise missile, hitting a practice target 400 kilometers (215 nautical miles) away. The launch was the latest in a series of tests of Zircon, which is set to enter service in 2022. Russia has also developed Kh-47M2 Kinzhal ('Dagger') Nuclear-Capable, Air-Launched Ballistic Missile (ALBM) that can attain speeds of more than Mach 10. Likewise, France has also joined the race to develop 'hypersonic' weapons, after China, Russia, and the United States. The country, in January 2019, announced its Project V-MaX, which aims to create a hypersonic glider that has a speed of more than Mach 5 (i.e., nearly 3,700 miles per hour). The country announced that it would carry out the maiden flight of its hypersonic glider, the V-MAX (V茅hicule Manoeuvrant Exp茅rimental), by the end of 2021.
Supersonic vs Hypersonic Weapons Industry Overview
Raytheon Technologies Corporation, The Boeing Company, MBDA, Tactical Missiles Corporation, Lockheed Martin Corporation are some of the major players in the market. Joint ventures, like the Ariane Group (between Airbus SE and Safran SA), MBDA (between Airbus SE, Leonardo Company, and BAE Systems PLC) in the market, are predominant. There are also partnerships between companies that are aimed at developing technologies tailored to the specific requirements of the militaries. For instance, Raytheon Technologies and Kongsberg Gruppen AS partnered for co-producing a new Naval Strike Missile for the United States. In addition, another partnership, comprising of Raytheon Technologies and Northrop Grumman Corporation, is developing air-breathing hypersonic weapons for the US military. Research is also in progress for developing advanced technologies in hypersonic weapons, especially in hypersonic glide vehicles, but only a few companies have the technology at their disposal. Thus, players can target the countries, which are aiming to get equipped with these technologies, and thereby, grab new opportunities to gain a better market share.
Supersonic vs Hypersonic Weapons Market Leaders
-
MBDA
-
Tactical Missiles Corporation
-
The Boeing Company
-
Raytheon Technologies Corporation
-
Lockheed Martin Corporation
*Disclaimer: Major Players sorted in no particular order
Supersonic vs Hypersonic Weapons Market News
In October 2021, the United States announced that it has successfully tested hypersonic missile technology at a NASA facility in Virginia. According to the Pentagon, the test demonstrated advanced hypersonic technologies, capabilities, and prototype systems in a realistic operating environment.
In September 2021, the US DOD announced that the Air Force has modified preliminary design review (PDR) contracts with Boeing, Lockheed Martin, and Raytheon for a hypersonic cruise missile. The updated contracts for the Southern Cross Integrated Flight Research Experiment (SCIFiRE) project being developed with Australia grant USD 39.7 million to The Boeing Company, USD 27.2 to Lockheed Martin Corporation, and USD 27.99 million to Raytheon Technologies Corporation.
Supersonic vs Hypersonic Weapons Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD billion)
5.1 Speed
5.1.1 Supersonic
5.1.2 Hypersonic
5.2 Type
5.2.1 Missiles
5.2.2 Hypersonic Glide Vehicles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Rest of Latin America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 Israel
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 The Boeing Company
6.2.2 Kongsberg Gruppen AS
6.2.3 Raytheon Technologies Corporation
6.2.4 Israel Aerospace Industries
6.2.5 Lockheed Martin Corporation
6.2.6 Northrop Grumman Corporation
6.2.7 MBDA
6.2.8 DRDO
6.2.9 Tactical Missiles Corporation
6.2.10 ArianeGroup
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Supersonic vs Hypersonic Weapons Industry Segmentation
The supersonic and hypersonic weapons market is segmented by speed into supersonic and hypersonic and by type into missiles and hypersonic glide vehicles. The report also covers the market sizes and forecasts for the supersonic and hypersonic weapons market in major countries across different regions. For each segment, the market sizing and forecasts have been provided in value (USD billion).
| Speed | |
| Supersonic | |
| Hypersonic |
| Type | |
| Missiles | |
| Hypersonic Glide Vehicles |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Supersonic vs Hypersonic Weapons Market Research FAQs
What is the current Supersonic and Hypersonic Weapons Market size?
The Supersonic and Hypersonic Weapons Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Supersonic and Hypersonic Weapons Market?
MBDA, Tactical Missiles Corporation, The Boeing Company, Raytheon Technologies Corporation and Lockheed Martin Corporation are the major companies operating in the Supersonic and Hypersonic Weapons Market.
Which is the fastest growing region in Supersonic and Hypersonic Weapons Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Supersonic and Hypersonic Weapons Market?
In 2024, the Europe accounts for the largest market share in Supersonic and Hypersonic Weapons Market.
What years does this Supersonic and Hypersonic Weapons Market cover?
The report covers the Supersonic and Hypersonic Weapons Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Supersonic and Hypersonic Weapons Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hypersonic vs Supersonic Missile Industry Report
Statistics for the 2024 Hypersonic vs Supersonic Missile market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Hypersonic vs Supersonic Missile analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
