Press release
Hypersonic Missiles Market: A Phenomenal Leap towards $204.58 Billion by 2029
Hypersonic Missiles Market Outlook
What Is The Projected Market Size Of The Global Hypersonic Missiles Market And Its Growth Rate?
The hypersonic missiles market has seen incredible progression lately. Focus on scalability, affordability, and strategic deterrence have driven the growth, complemented by national security concerns:
•Market size in 2024: $132.69 billion
•Market size in 2025: $146.07 billion (Projected CAGR of 10.1%)
•Estimated market size in 2029: $204.58 billion (Predicted CAGR of 8.8%)
Factors such as increased focus on offensive and defensive capabilities, growing demand for precision strike capabilities and global military alliances and collaborations contribute significantly to the forecasted growth.
What Is Driving The Growth In The Hypersonic Missiles Market?
The hypersonic missiles market is experiencing an upward thrust thanks to increased initiatives from governments and defense sectors across the globe. The rise in political tensions and the arms race have necessitated the strengthening of defense forces through technological research and advancements. The Pentagon, for instance, has set aside a whopping $3.8 billion for hypersonic research for the fiscal year 2022. Military expenditures worldwide peaked at a record-breaking $2,240 billion in 2022, a significant 3.7% surge from the previous year. These initiatives and funding from governments are expected to continue driving the growth of the hypersonic missiles market in the coming years.
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Who Are the Key Players Driving Hypersonic Missiles Market Growth?
The hypersonic missiles market is powered by several major companies, including:
•Raytheon Technologies
•Boeing Company
•Lockheed Martin Corp.
•Hanwha Corporation
•China Aerospace Science and Industry Corporation
•General Dynamics Corporation
•Northrop Grumman
•Mitsubishi Heavy Industries Ltd.
•Rostec State Corporation
•BAE Systems plc
•L3Harris Technologies Inc.
•Leidos
•Israel Aerospace Industries Ltd.
•Rafael Advanced Defense Systems Ltd.
•Aerojet Rocketdyne Holdings Inc.
•Systima Technologies
•Denel SOC Ltd.
•Tactical Missiles Corporation
•BrahMos Aerospace
•CASIC Rocket Technology Company
•Kongsberg Gruppen
What Are The Key Trends In The Hypersonic Missiles Market?
Key trends steering the hypersonic missiles market growth include:
•Rapid technological advancements
•Advancements in aerospace technology
•Increases in hypersonic technology
•Rise in military investments
•Increased hypersonic glide vehicles
What Are The Segments Of The Global Hypersonic Missiles Market?
The global hypersonic missiles market is segmented into several categories:
1) By Product: Hypersonic Glide Vehicle, Hypersonic Cruise Missile
2) By Application: Wire Guidance, Command Guidance, Terrain Comparison Guidance, Terrestrial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, Radio Frequency (RF) And GPS Reference
3) By End-Users: Military, Civil
Which Region Leads The Hypersonic Missiles Market?
North America, being the largest region in the hypersonic missiles market in 2024, is expected to retain its lead and grow at the fastest rate in the forecast period. The report covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Hypersonic Missiles Market Global Market Report?
- Market Size Analysis: Analyze the Hypersonic Missiles Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hypersonic Missiles Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hypersonic Missiles Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hypersonic Missiles Market.
- Competitive Developments: Analyze competitive developments, including expansions, agreements, and new product launches in the market.
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