06-Apr-2022 | Facts and Factors
According to the Facts & Factors report, the global hypersonic technology market size was worth about 6.8 (USD billion) in 2021 and is predicted to grow to around 12.5 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 9.5%.
Hypersonic technology refers to aircraft that can travel at up to 5 times the speed of sound. Because of their ability to use unique materials known as scramjets, these aircraft can reach hypersonic speeds. The scramjet is a type of engine that uses atmospheric oxygen as its sole starting fuel, allowing it to operate at comparatively low temperatures and high altitudes.
Browse the full “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” report at https://www.fnfresearch.com/hypersonic-technology-market
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 is 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.
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.
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.
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.
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 |
Purchase Options |
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Some of the main competitors dominating the global hypersonic technology market are 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, and Thales Group.
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.
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
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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