Hypersonic Technology Market Forecast 2024–2030: Key Players, Trends & Outlook

Hypersonic Technology Market Poised for Robust Growth, Forecasted to Expand at 9.32% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Hypersonic Technology Market size was valued at USD 7.2 Billion in 2023 & is estimated to grow at a CAGR of around 9.32% during the forecast period, i.e., 2024-30. 

Report Coverage

This report offers a comprehensive analysis of the Hypersonic Technology Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

Hypersonic Technology Market Overview

The demand for hypersonic technology in the defense industry is poised to grow globally due to several strategic & technological factors. Hypersonic missiles & vehicles offer unparalleled speed & maneuverability, making them extremely difficult to track and intercept. This capability enhances a nation's ability to respond swiftly to emerging threats, providing a crucial advantage in modern warfare.

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Hypersonic Technology Market Segmentation Outlook

The Hypersonic Technology is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Type

• Hypersonic Glide Missile
• Hypersonic Cruise Missile
• Hypersonic Spaceplanes

By Launch Mode

• Air
• Land
• Sub-Sea

By Range

• Short Range
• Medium Range
• Intermediate Range
• Intercontinental Range

By End Users

• Military
  • Aerial
  • Naval
  • Land Based
• Space

By Region

• North America
• Europe
• The Middle East & Africa
• Asia Pacific
• Rest of the World

Hypersonic Technology Market Driver

Rising National Security Threats from Advanced Defence Systems – The proliferation of advanced defense systems, particularly anti-access and area denial (A2/AD) capabilities, has prompted an increased demand for hypersonic technology globally. Nations are grappling with the challenge of overcoming the sophisticated anti-missile & anti-aircraft systems developed by potential adversaries. Countries like Russia & China have made substantial strides in A2/AD technologies, investing in advanced radar systems, surface-to-air missiles, and integrated air defense networks.

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Top Hypersonic Technology Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies BAE Systems, Brahmos Aerospace, General Dynamics Corporation, Lockheed Martin, Leidos (Dynetics), Spirit AeroSystems, Inc., Spirit AeroSystems, Inc., Northrop Grumman Corporation , Raytheon Technologies Corporation , Saab AB , SPACEX , Thales Group, Hypersonix, Hermeus Corp., Defence Research and Development Organisation (DRDO) and Others as key players shaping the market landscape.

Hypersonic Technology Market News

• 2023: Raytheon Technologies announced that it received a contract worth around USD 985 million from the US Air Force to develop & demonstrate scramjet-powered hypersonic cruise missiles.
• 2022: Thales declared to develop & demonstrate scramjet-powered hypersonic cruise missiles.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

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