Supersonic and Hypersonic Missiles market is projected to grow at a CAGR of 13.05% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Supersonic and Hypersonic Missiles 2023-2033. It includes profiles of Supersonic and Hypersonic Missiles and Forecasts Market Segment by Platform (Land-Based Platforms, Naval-Based Platforms, Aerial-Based Platforms), Market Segment by Type (Hypersonic Cruise Missile, Hypersonic Glide Vehicle), Market Segment by Component (Missile Structures, Thermal Protection Systems, Sensor Windows, Launching Requirements, Propulsion System), Market Segment by Speed (Mach 1-2, Mach 2-4, Mach 4-8, Mach 8-10), Market Segment by Range (Short-Range Missiles, Medium-Range Missiles, Long-Range Missiles), plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The supersonic and hypersonic missiles market was valued at US$15,029.5 million in 2022 and is projected to grow at a CAGR of 13.05% during the forecast period 2023-2033.
Technical Challenges in Manufacturing of Hypersonic and Supersonic Missiles
There are several challenges associated with the manufacturing of hypersonic and supersonic missiles, some of which include: At supersonic and hypersonic speeds, the aerodynamic forces acting on the missile can be extremely high, making it difficult to control and manoeuvre the missile. The high temperatures generated by hypersonic flight and the stresses of supersonic flight put enormous demands on the materials used to construct the missile. This requires the use of special alloys or composites that can withstand these conditions.
Developing propulsion systems that can operate efficiently at supersonic and hypersonic speeds is a major challenge. This can include scramjet engines, which are specifically designed for high-speed flight, and rocket propulsion systems. At supersonic and hypersonic speeds, guidance and control systems have to be much more precise and responsive than at subsonic speeds. The high-speed and high-stress environment of supersonic and hypersonic missiles put them under severe loads and conditions that are not always easy to predict, making them a real challenge to design and build reliable systems. Furthermore, the cost of development, testing, and production of hypersonic and supersonic missiles is extremely high compared to subsonic missiles, which makes it difficult to get funding. All these factors make the manufacturing of hypersonic and supersonic missiles a complex and challenging process that requires significant technological expertise and resources.
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How has COVID-19 had a Significant Impact on the Supersonic and Hypersonic Missiles Market?
The COVID-19 pandemic has had a significant impact on the supersonic missile business, as it has on many industries around the world. Some of them are mentioned below:
Supply Chain disruptions: The pandemic has caused disruptions in global supply chains, making it difficult for manufacturers to obtain the raw materials and components needed to produce missiles. This can lead to delays in production and difficulties in meeting delivery schedules.
Workforce Shortage: The pandemic has also led to workforce shortages, as many employees have had to stay at home due to quarantine or other restrictions, which can affect productivity and efficiency in the manufacturing process.
Funding and Investment: With the economic downturn caused by the pandemic, governments and private investors may be less likely to fund or invest in supersonic missile projects. This can make it difficult for manufacturers to secure the financial resources they need to develop and produce new missiles.
Testing and Validation: Testing and validation of the missiles can be impacted as well, as travel restrictions and quarantine rules limit the ability to conduct testing and validation in remote locations or even the ability to conduct field testing.
Domestic and International markets: pandemic has also affected domestic and international markets, leading to a decrease in demand for missiles. This can lead to a slowdown in sales and revenue for manufacturers.
All these factors have contributed to a slowdown in the supersonic missile business as a whole, making it difficult for manufacturers to continue operations as usual. In addition, the impact of the pandemic on the overall economy is likely to affect the supersonic missile business for the foreseeable future.
How will this Report Benefit you?
Visiongain’s 319-page report provides 112 tables and 164 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the supersonic and hypersonic missiles market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Supersonic and Hypersonic Missiles. Get financial analysis of the overall market and different segments including Platform, Type, Component, Speed, Range and capture higher market share. We believe that there are strong opportunities in this fast-growing supersonic and hypersonic missiles market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Rising Defence Spending to Boost Industry Growth
The defence sector is drawing R&D expenditures, particularly in hypersonic weapons technology, as defence spending grows. Countries such as Russia, China, and the United States are making headway on advanced hypersonic weapon technology, and many more are on the verge of joining the race. Increased global conflicts, as well as belief in the deterrence theory, are leading states to create improved nuclear-capable weapons, resulting in market expansion. The expanding number of joint ventures between companies working on supersonic and hypersonic weaponry is assisting the industry's technological progress.
Growing Partnerships Among Companies to Enhance Market Expansion
The increasing number of joint ventures between firms working on supersonic and hypersonic weaponry is assisting the industry's technical advances. For example, an India-Russia joint venture that makes nuclear capable supersonic cruise missiles hopes to bag orders worth $5 billion by 2025, its chairman said in October 2022, having signed its first export deal of $375 million this year with the Philippines. BrahMos Aerospace is in discussions with Indonesia, Malaysia and Vietnam for new orders.
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Where are the Market Opportunities?
Hypersonic systems are a game-changer in terms of national security. The development of hypersonic technology presents a variety of tough and complex technical challenges. Stopping the spread of hypersonic missiles is probably too late; both Russia and China have well-developed programmes, and the United States is trying to catch up. All three nations are developing "glide" missiles that combine blistering speed with unexpected spins to get past defences. Despite past setbacks and the fact that the missiles are not intended to carry nuclear warheads, the US has lately started investing more money in its hypersonic programme. An assault of these hypersonic glide vehicles would overwhelm the US missile defence system, but that shouldn't matter in terms of nuclear stability. After all, even in the most favourable circumstances against more predictable ballistic missiles, data indicates that defence interceptors only kill their target forty to fifty percent of the time. Defence systems are just unreliable, and in any case, the fear of reprisal is more likely to deter attackers than the destruction of their own missiles.
The major players operating in the supersonic and hypersonic missiles market are Aerojet Rocketdyne Holdings Inc., AeroVironment, Inc., Brahmos Aerospace Limited, China Aerospace Science & Industry Corporation Limited (CASIC), DRDO, Elbit Systems, Kongsberg Gruppen AS, Kratos Defence& Security Solutions Inc., L3Harris Technologies, Inc., Leidos, Lockheed Martin Corporation, MBDA Holdings SAS, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Tactical Missiles Corporation JSC (KTRV), and The Boeing Company. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
In June 2022, The Missile Defense Agency selected Raytheon Missiles & Defense, a Raytheon Technologies business (NYSE: RTX), to continue to develop a first-of-its-kind counter-hypersonic missile, the Glide Phase Interceptor. GPI is designed to intercept hypersonic weapons in the glide phase of flight, providing the U.S. and allies with an additional layer of defense against regional hypersonic missile threats.
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To find more Visiongain research reports on the Defence sector, click on the following links:
Missile Technology Control Regime (MTCR) Market Report 2022-2032
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