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Global supersonic and hypersonic missiles market worth US$42,110.51 million by 2031: Visiongain Reports Ltd
Supersonic and Hypersonic Missiles Market 2021-2031: Market Segment by Platform (Land-Based Platforms, Naval-Based Platforms, Aerial-Based Platforms), Type (Hypersonic Cruise Missile, Hypersonic Glide Vehicle), Component (Missile Structures, Thermal Protection Systems, Sensor Windows, Launching Requirements, Propulsion System), Speed (Mach 1-2, Mach 2-4, Mach 4-8, Mach 8-10), Range (Short-Range Missiles, Medium-Range Missiles, Long-Range Missiles), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), PLUS COVID-19 Impact Recovery Analysis (V-shaped recovery, W-shaped recovery, U-shaped recovery, L-shaped recovery)
Global Supersonic and hypersonic missiles Market Outlook
The global supersonic and hypersonic missiles market was valued at US$12,258.96 million in 2020. The global market is expected to witness a CAGR of 11.44% from 2021 to 2026 and is expected to reach US$23,294.19 million in 2026 from its previous value of US$13,555.96 million in 2021. Visiongain further anticipates that the region will reach US$42,110.51 million in 2031 while growing at a CAGR of 12.0% from 2021 to 2031.
Increasing Global Conflicts to Drive Market Growth
From the beginning of time, speed has been an important factor in combat, especially at the outset of a ware. Speed will dramatically change the arithmetic of warfare & deterrence with the imminent deployment of hypersonic and supersonic missiles that move at over Mach 5 and higher. U.S., Russia and China are all testing hypersonic weapons of different categories so as to augment strategic nuclear deterrence & reinforce front-line combat forces. Existing ICBM re-entry vehicles travel at such speeds, but the hypersonic glide vehicles in development are far nimbler, making tracking and intercepting them very difficult. Such dual-use vehicles, which may deliver nuclear or conventional bombs, are also being fitted to missiles destined for regional deployment, such as in the Baltic area or the South China Sea.
Growth in Defense Spending is Attracting R&D Investments
Different variants of these types, as well as supporting technologies, are being developed by major countries in the worldwide supersonic and hypersonic missile industry. The US Air Force is financing a second hypersonic project known as the Air-Launched Rapid Response Weapon in addition to its hypersonic cruise missile programme. The Alternative Re-Entry System, a manoeuvrable hypersonic delivery vehicle that may be launched by one of many proposed missile booster systems, is being developed by the US Army. The United States Navy is developing a booster rocket capable of transporting hypersonic vehicles from surface ships. The Defense Department proposed $2.6 billion for these and related programmes in its fiscal year 2020 budget proposal. Although all three major nations have looked into hypersonic applications, their strategic calculations seem to vary, with the US concentrating on weapons for non-nuclear regional wars and Russia prioritising the deployment of hypersonic weapons for both conventional and nuclear applications. Whatever the case may be, hypersonic weaponry's increasing pursuit is mainly due to its immense manoeuvrability and perceived invulnerability to current defensive systems, as well as its substantial manoeuvrability and perceived invulnerability to existing defensive systems.
COVID-19 Impact on Supersonic & Hypersonic Missiles Market
Following the conclusion of COVID-19, missile-based defense manufacturing will become nimbler. Due to the lockdown, the supply chain interruption is anticipated to have an impact on the businesses' future development. Due of the continuing epidemic, businesses are not generating income, resulting in significant losses throughout the year. To resurrect the market, companies must trade on a large margin basis. Due to the lockdown, the income generation of supersonic and hypersonic missile industries has suffered a significant financial loss.
Technical Challenges in Manufacturing of Hypersonic and Supersonic Missiles
A hypersonic, scramjet-powered air-to-surface missile may provide significant increases in warfighting capabilities. However, as the maximum Mach number rises (e.g., from Mach 6 to Mach 8), the technical difficulties increase, and developing a vehicle with a maximum speed of Mach 8 would need major technological advances. To manage hazards, the Air Force will require a well-thought-out technological validation programme that includes a prototype flying vehicle.
Lockheed Martin Corporation Leading the Global Market
According to Visiongain's analysis, the competition seems to be between Lockheed Martin Corporation and Raytheon Technologies. Lockheed Martin Corporation accounted for over 35% market share in the global supersonic & hypersonic missiles market in the year 2020. The Army, Navy, NASA, Air Force, & Defense Advanced Research Projects Agency (DARPA) have all awarded Lockheed Martin Corporation hypersonic contracts over the past seven years. Gliders as well as hypersonic cruise missiles are among the platforms. Both offensive and counter-hypersonic programmes are currently under development by Raytheon. Several major concurrent R&D projects underlie the Pentagon's attempts to claim worldwide hypersonic parity. Because of the high expense and complexity of hypersonic technology research, DoD departments cooperate to communicate their findings with a broader audience while also sharing costs. The variety of hypersonic research projects shows that the Department of Defense is worried not just about the quality of its platforms in comparison to near-peer armies, but also about the capacity to retain redundant hypersonic attack choices. On the plus side, the global the global supersonic and hypersonic missiles market is unlikely to devolve into a "winner-take-all" scenario. The hypersonic industry is likewise being pursued by the majority of other military companies.
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Key Questions Answered by this Report:
What is the current size of the overall global supersonic and hypersonic missiles market? How much will this market be worth from 2021 to 2031?
What are the main drivers and restraints that will shape the overall supersonic and hypersonic missiles market over the next ten years?
What are the key opportunities and challenges that will shape the overall supersonic and hypersonic missiles market over the next ten years?
What are the main segments within the overall supersonic and hypersonic missiles market?
How much will each of these segments be worth for the period 2021 to 2031?
How will the composition of the market change during that time, and why?
What factors will affect that industry and market over the next ten years?
What are the largest national markets for the global supersonic and hypersonic missiles?
What is their current status and how will they develop over the next ten years?
What are their revenue potentials to 2031?
How will market shares of the leading national markets change by 2031, and which geographical region will lead the market in 2031?
Who are the leading companies and what are their activities, results, developments and prospects?
What are the driving and restraining factors that will affect the global supersonic and hypersonic missiles market between 2021 and 2031?
What are the main trends that will affect the global supersonic and hypersonic missiles market between 2021 and 2031?
What are the main strengths, weaknesses, opportunities and threats for the market?
How will the global supersonic and hypersonic missiles market evolve over the forecasted period, 2021 to 2031?
What will be the main commercial drivers for the market from 2021 to 2031?
How will market shares of prominent national markets change from 2021, and which countries will lead the market in 2031, achieving highest revenues and fastest growth?
How will that industry evolve between 2021 and 2031, especially in R&D?
Discover sales predictions for the global supersonic and hypersonic missiles market and submarkets.
Along with revenue prediction for the overall world market, there are 5 segmentations of the supersonic and hypersonic missiles market, with forecasts for 3 Platforms, 2 Types, 5 Components, 4 Speeds, and 3 Ranges, each forecasted at a global, regional, and country level, along with COVID-19 impact recovery pattern analysis for all segments.
Who are the major players analyzed in the market?
Aerojet Rocketdyne Holdings Inc.
AeroVironment, Inc.
Brahmos Aerospace Limited
China Aerospace Science & Industry Corporation Limited (CASIC)
DRDO
Elbit Systems
Kongsberg Gruppen AS
Kratos Defense& Security Solutions Inc.
Leidos
L3Harris Technologies, Inc.
Lockheed Martin Corporation
MBDA Holdings SAS
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab AB
Tactical Missiles Corporation JSC (KTRV)
The Boeing Company
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About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10 year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which we find currently can influence one another. These markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.
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Dev Visavadia
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: dev.visavadia@visiongain.com
