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Hypersonic Missiles Market : Growth, Segments, Share And Global Forecasts 2023-2032 | Lockheed Martin, Raytheon Technologies, Northrop Grumman, Boeing, Saab AB
Hypersonic Missiles Market Research
The Business Research Company's Hypersonic Missiles Global Market Report 2023 identifies increase in initiatives and funding from the governments and defense forces as the major driver for the Hypersonic Missiles market's growth in the forecast period. Governments and defense sectors started funding the research on the hypersonic area to strengthen the forces. For instance, the Pentagon, the headquarters building of the United States Department of Defense, requested a $3.8 billion budget for hypersonic research for the fiscal year 2022. Furthermore, according to the Stockholm International Peace Research Institute report in 2021, global military spending increased to $2 trillion in 2020, a 2.6% increase over 2019.
The global hypersonic missiles market size grew from $112.02 million in 2022 to $125.04 million in 2023, at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hypersonic missiles market size is expected to grow to $181.87 million in 2027 at a CAGR of 9.8%.
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Major competitors in the Hypersonic Missiles market are Lockheed Martin, Raytheon Technologies, Northrop Grumman, Boeing, Saab AB, Systima Technologies, Mitsubishi Heavy Industries Ltd., Tactical Missiles Corporation, China Aerospace Science and Industry Corporation, Thales Group, and Denel Dynamics.
A key trend in the Hypersonic Missiles market includes development of new hypersonic cruise missiles. Major companies operating in the hypersonic missiles sector are focused on developing hypersonic missiles to strengthen their position. For example, Boeing, Lockheed Martin, and Raytheon announced plans in August 2020 to develop a new solid-rocket air-breathing hypersonic standard cruise missile for launch from current fighter-bomber aircraft.
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The Hypersonic Missiles market is segmented -
By Product: Hypersonic Glide Vehicle, Hypersonic Crusie Missile
By Application: Wire Guidance, Command Guidance, Terrain Comparision Guidance, Terrestial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, Radio Frequencey (RF) And GPS Reference
By End-Users: Military, Civil
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Hypersonic Missiles market.
The Business Research Company's "Global Hypersonic Missiles Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hypersonic Missiles Market Include:
1. Executive Summary
2. Hypersonic Missiles Market Characteristics
3. Hypersonic Missiles Market Trends And Strategies
4. Hypersonic Missiles Market - Macro Economic Scenario
5. Hypersonic Missiles Market Size And Growth
……
26. Africa Hypersonic Missiles Market
27. Hypersonic Missiles Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hypersonic Missiles Market
29. Hypersonic Missiles Market Future Outlook and Potential Analysis
30. Appendix
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