Global Hypersonic Missiles Market Size study, by Type (Hypersonic Boost Glide Missile, Hypersonic Cruise Missile, Hypersonic Ballistic Missile) by Range (Short Range, Medium Range, Long Range) by End User (Army, Navy, Air Force), by Launch (Ground Launch,

Global Hypersonic Missiles Market Size study, by Type (Hypersonic Boost Glide Missile, Hypersonic Cruise Missile, Hypersonic Ballistic Missile) by Range (Short Range, Medium Range, Long Range) by End User (Army, Navy, Air Force), by Launch (Ground Launch, Air Launch, Sea Launch) and Regional Forecasts 2022-2032

Global Hypersonic Missiles Market is valued at approximately USD 6.80 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 11.40% over the forecast period 2024-2032. A hypersonic missile is an advanced weapon system engineered to travel at velocities surpassing five times the speed of sound while traversing through the earth's atmosphere for most of its flight. Engineered with exceptional maneuverability and swift targeting capabilities, these missiles possess the capacity to hit distant objectives within remarkably brief windows, typically ranging from 15 to 30 minutes, and covering extensive distances spanning thousands of kilometers. Innovations in materials science and manufacturing techniques are driving advancements in hypersonic missile technology. The development of lightweight yet durable materials and advanced manufacturing processes is enabling the production of more efficient and reliable hypersonic missile systems.

The global arena of military technology is experiencing a marked increase in attention and investment directed towards advancing and deploying hypersonic systems. This heightened enthusiasm is propelled by significant advancements showcased by countries such as Russia and China in their respective hypersonic weapons initiatives. These hypersonic systems, encompassing hypersonic boost-glide vehicles (HGVs) and hypersonic cruise missiles (HCMs), mark a transformative shift in military capabilities, delivering unparalleled speed, agility, and accuracy for both strategic and tactical missions. Furthermore, the Global Hypersonic Missiles Market is driven by rising Military Modernization Programs and rising development of advanced hypersonic weapons for defense forces. However, regulatory, ethical and safety and environmental concerns, on the other hand, will stifle market growth between 2022 and 2032.

The key regions considered for the global Hypersonic Missiles market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market in terms of revenue. The Nation is involved in advancing hypersonic weaponry, characterized by agile projectiles capable of exceeding Mach 5 speeds. In the fiscal year 2023, the U.S. Department of Defense (DOD), headquartered at the Pentagon, sought a budget allocation of $4.7 billion for hypersonic research, marking an increase from the $3.8 billion requested in FY2022. Meanwhile, the Missile Defense Agency (MDA) sought $190.6 million for hypersonic defense in FY2024, a slight decrease from its $225.5 million request in FY2023. Furthermore, the nation's armed forces have actively awarded contracts to defense industry stakeholders for the development and deployment of cutting-edge hypersonic weaponry, aimed at maintaining military supremacy and safeguarding national security interests. The market in Asia Pacific, on the other hand, is expected to grow at the fastest rate over the forecast period.

Major market player included in this report are:
Rostec Corporation
Northrop Grumman Corporation
BAE systems
Lockheed Martin Corporation
Leidos Holding Inc.
BrahMos Aerospace
Kratos Defense & Security Solutions, Inc.
Raytheon Technologies Corporation
L3Harris Technologies, Inc.
Israel Aerospace Industries

The detailed segments and sub-segment of the market are explained below:

By Type
Hypersonic Boost Glide Missile
Hypersonic Cruise Missile
Hypersonic Ballistic Missile

By Range
Short Range
Medium Range
Long Range

By End User:
Army
Navy
Air Force

By Launch:
Ground Launch
Air Launch
Sea Launch

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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