Hypersonic Weapons Industry is Expected to Reach $ 16.6 Billion by 2031 - Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, L3Harris Technologies Inc.

Global Hypersonic Weapons Market reached US$ 7.1 billion in 2022 and is expected to reach US$ 16.6 billion by 2031, growing with a CAGR of 11.2% during the forecast period 2024-2031.

The global hypersonic weapon market is rapidly growing, fueled by increased government investments. Although the U.S. lags behind Russia, China, and North Korea in deploying hypersonic weapons, it allocates significant funds for research, with the Pentagon's FY2023 budget requesting $4.7 billion. Countries like Australia, India, France, and Japan are also advancing hypersonic technology, contributing to market expansion. Despite this, the U.S. remains cautious about launching official hypersonic programs, awaiting clarity on deployability. The Asia-Pacific region dominates the market, driven by China and Russia's advanced hypersonic missile capabilities.

Get a Free Sample Research PDF: https://www.datamintelligence.com/download-sample/hypersonic-weapons-market

Key Developments:

• In January 2023, India conducted a test of its Hypersonic Technology Demonstrator Vehicle (HSTDV) off the Odisha coast, utilizing a scramjet engine-powered vehicle. This test is part of India's efforts to compete in the global hypersonic weapons race, which includes China, Russia, and the U.S., aiming to develop weapons that travel over five times the speed of sound and evade missile defense systems.

• In August 2023, Iran announced advancements in supersonic cruise missile technology, adding to its expanding missile program. Although the specific missile was not named, it represents a new generation of Iranian cruise missiles.

Market Dynamics:

The hypersonic weapons market is gaining significant global attention from militaries, governments, and international bodies. Major powers like the U.S., China, and Russia are heavily investing in hypersonic weapon programs, driving extensive research and development efforts. NATO forecasts that these weapons could be operational within the next five years. The U.S. National Defense Authorization Act, with its $770 billion budget, emphasizes hypersonic research, recognizing the technology's potential for both military and commercial applications. Hypersonic missiles, capable of traveling at speeds above Mach 5 (around 3,800 mph), have already been successfully tested by China, Russia, and North Korea.

Get Customization in the report as per your requierments: https://www.datamintelligence.com/customize/hypersonic-weapons-market

Market Segment:

By Type: Hypersonic Missiles, Hypersonic Glide Vehicles

By Domain: Land, Naval, Airborne

By Range: Short-range, Medium-range, Long-range

Major Key Players:

• Raytheon Technologies Corporation
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• L3Harris Technologies Inc.
• Leidos
• Thales Group
• General Dynamics Corporation
• Boeing
• Israel Aerospace Industries
• Bae Systems

*Note:

Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Related Reports:

Non Lethal Weapons Market: https://www.datamintelligence.com/research-report/non-lethal-weapons-market

Military Power Solutions Market: https://www.datamintelligence.com/research-report/military-power-solutions-market

Wireless Charging Market: https://www.datamintelligence.com/research-report/wireless-charging-market

Affiliate Marketing Request here: https://www.datamintelligence.com/affiliate-marketing

Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.