Global Hypersonic Technology Market Size study & Forecast, by Launch Mode (Air, Surface, Subsea) by End-User (Military, Air Force, Navy, Space) By Type (Glide Vehicle, Cruise Missile, Spaceplanes) and Regional Analysis, 2022-2029

Global Hypersonic Technology Market Size study & Forecast, by Launch Mode (Air, Surface, Subsea) by End-User (Military, Air Force, Navy, Space) By Type (Glide Vehicle, Cruise Missile, Spaceplanes) and Regional Analysis, 2022-2029

Global Hypersonic Technology Market is valued at approximately USD 5.46 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.9% over the forecast period 2022-2029. Hypersonic Technology is a long-range missile having theatre-reach and global-reach, designed to deliver weapons or for reconnaissance missions; and space launches. The Hypersonic Technology market is expanding because of factors such as increasing government expenditure on defence technologies and growing research and development of hypersonic technology.

Growing territorial conflicts are boosting the growth of the global hypersonic technology market throughout the world. Its prevalence has progressively increased during the last few decades. According to Statista, With USD 801 billion in military spending in 2021, the United States led the list of countries. This accounted for 38% of total global military spending, which totaled USD 2.1 trillion. Moreover, the military spending in the United States was 3.4% of GDP in 2019. Furthermore, as a share of gross domestic product, Saudi Arabia spent more on its military 6.6% than any other country in 2021, followed by Russia with 4.1%. Another important component driving space is growing research and development of hypersonic technology. In 2021, the global revenue of the hypersonic technology market amounted to approximately 5.7 billion U.S. dollars, and it is projected to grow to almost USD 13 billion in 2031. In 2020, the United States hypersonic tech market accounted for almost 53 per cent of the global market. In addition, in 2021, the United States spent approximately USD 44 billion on nuclear weapons, the highest of any country in the world. China spent the second-highest amount, at nearly USD 12 billion, while Russia spent the third most at nearly USD 9 billion. Also, increasing deployment of hypersonic weapons worldwide and increasing focus on super-fast intercontinental travel would create a lucrative growth prospectus for the market over the forecast period However, challenges in testing hypersonic air flows stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Hypersonic Technology Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the territorial disputes in the region have resulted in countries such as China, India, and Japan investing in the development of hypersonic missiles. According to Statista, in 2020, military expenditure in India amounted to approximately 2.88% of the country's GDP. In comparison, military expenditure in China and Japan amounted to 1.75% and 1% of each country's GDP respectively. Middle East & Africa is expected to grow with the highest CAGR during the forecast period, owing to factors such as a rise in regional tensions, and countries such as Israel working towards developing hypersonic technologies in the market space.

Major market player included in this report are:
BAE Systems plc
Dynetics, Inc.
Hermeus Corp.
Lockheed Martin Corporation
MBDA Inc
Northrop Grumman Corporation
Raytheon Technologies Corporation
Reaction Engines Limited
The Boeing Company
Velontra

Recent Developments in the Market:
In Mar 2021, BAE Systems has announced an investment in Australia to help accelerate the development of a sovereign high-speed weapons capability. It will also draw on the diverse capabilities and expertise of Australian industry and academia to construct an Australian high-speed weapons eco-system, with the goal of demonstrating a sovereign capability within the next four years.

Global Hypersonic Technology Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Launch Mode, End-User, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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

By Launch Mode
Air
Surface
Subsea

By End-User
Military
Air Force
Navy
Space

By Type
Glide Vehicle
Cruise Missile
Spaceplanes

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
RoLA
Rest of the World

Companies Mentioned
BAE Systems plc
Dynetics, Inc.
Hermeus Corp.
Lockheed Martin Corporation
MBDA Inc
Northrop Grumman Corporation
Raytheon Technologies Corporation
Reaction Engines Limited
The Boeing Company
Velontra

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