As per the BIS research analysis, the global hypersonic technology industry analysis by BIS Research projects the market to have significant growth of CAGR 8.45% during the forecast period 2021-2031. United States is expected to dominate the global hypersonic technology market with an estimated share of 54.1% in 2031. China and Germany are the two most prominent countries having significant share in the hypersonic technology market.
Hypersonic systems use air-breathing scramjet engines that allow them to hover at extremely high speeds. Moreover, due to the extreme speeds, the surface of the hypersonic vehicles reaches severe temperatures, which conventional materials cannot withstand; hence, exotic materials such as titanium or ceramic materials are utilized for making the surface of these vehicles. Primarily, there are three types of hypersonic systems that are currently deployed or are in the development stage.
Hypersonic Glide Vehicle
Hypersonic Cruise Missile
Countries such as the U.S., Russia, and China are investing significantly in the development of hypersonic technology, followed by India, Australia, Japan, France, and Germany. These nations are awarding programs to major defense companies to equip hypersonic-enabled weapons in their arsenal.
Currently, hypersonic weapons are un-traceable by the present defense systems. Due to their high speed and maneuverability, current radar and satellite detection systems cannot detect hypersonic weapons. However, armed forces are also investing in upgrading the defense systems to detect and track hypersonic weapons. Currently, companies such as Northrup Grumman Corporation, Saab AB, and SpaceX are developing counter-hypersonic technologies that can detect and track hypersonic weapons. The following are the recent developments by these companies.
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Key Companies in the Global Hypersonic Technology Industry:
The key market players in the global hypersonic technology market include Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd., Lockheed Martin Corporation, Thales Group, General Dynamics Corporation, Northrop Grumman Corporation, Raytheon Company, SAAB SA, Dynetics Inc., SpaceX, and L3 Harris Technologies Inc.
There has been an increasing demand for hypersonic weapons by the major defense powers across the globe. China, Russia, and the U.S. are the major economies that are showing a high level of interest in the development of hypersonic glide vehicles and cruise missiles. Russia and China have a number of hypersonic defense weapons programs such as the Avangard, 3M22 Tsirkon, and are anticipated to launch a new hypersonic glide vehicle having nuclear warhead by the end of 2021.
U.S. to Witness Fastest Growth in Hypersonic Technology Market:
The U.S. dominated the global hypersonic technology market in 2020 and is anticipated to uphold its dominance throughout the forecast period. Factors such as the presence of major hypersonic technology manufacturers and a significant investment by the U.S. Department of Defense (DoD) fueled the high growth rate and major share of the U.S. in the hypersonic technology market. Moreover, the increasing demand for advanced weapons for offensive applications powered the growth rate in the region.
Key Questions Answered in this Report:
• What are the major drivers, challenges, and opportunities for the global hypersonic technology market during the forecast period 2021-2031?
• What are the recent trends in the hypersonic cruise missiles segment?
• Who are the key players in the global hypersonic technology market, and what is their competitive benchmarking?
• What is the expected revenue generated by the global hypersonic technology market during the forecast period 2021-2031?
• What are the strategies adopted by the key players in the market to increase their market presence in the industry?
• Which end-user (military and space) in the hypersonic technology market is expected to dominate the market in 2031?
• What revenue are expected to be generated by the global hypersonic technology market (by launch mode) – surface to surface, surface to air, air to air and subsea to surface – in 2021, and what are the estimates till 2031?
• What are the competitive strengths of the key players in the global hypersonic technology market?
• What would be the aggravated revenue generated by the hypersonic technology market segmented by U.S., Russia, China, India, Australia, Japan, France, Germany and Rest-of-the-World.
• What are the major restraints inhibiting the growth of the global hypersonic technology market?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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