What Transformation Has the Hypersonic Missiles Market Undergone?
The hypersonic missiles market has seen considerable growth due to a variety of factors.
• In recent times, the market size for hypersonic missiles has seen a rapid expansion. Expected to increase from $132.69 billion in 2024 to $146.07 billion in 2025, it will experience a compound annual growth rate (CAGR) of 10.1%.
The growth witnessed in the past period can be ascribed to factors such as the modernization of military programs, geopolitical conflicts and arms race, the need for strategic deterrence and national security, heightened threat perception, and the escalation in defense budgets.
What is the Market Size Forecast for the Hypersonic Missiles Market?
The hypersonic missiles market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of hypersonic missiles is anticipated to experience significant growth in the upcoming years, ballooning to $204.58 billion by 2029 with a compound annual growth rate (CAGR) of 8.8%.
The predictive growth over this period can be attributed to factors like a heightened emphasis on offensive and defensive capabilities, global partnerships and collaborations in the military sector, increased demand for precision strike capabilities, attention to scalability and affordability, and integration with multi-domain operations. Key trends expected during this forecast period comprise rapid advancements in technology, progression in aerospace technology, evolution of hypersonic technology, increased financial input in the military sector, and a surge in hypersonic glide vehicles.
What Are The Essential Drivers Behind The Growth Of The Hypersonic Missiles Market?
The surge in efforts and financial support from global governments and defense forces is fueling the expansion of the hypersonic missiles industry. These entities have commenced funding research in the hypersonic domain to enhance their national security. The Pentagon, home to the United States Department of Defense, for instance, sought a budget of $3.8 billion dedicated to hypersonic-related research for the fiscal year 2022. Adding on, the Stockholm International Peace Research Institute, based in Sweden, revealed in April 2023 that worldwide military expenditure set a new record of $2,240 billion in 2022, marking a 3.7% boost in real terms compared to the preceding year. Led by the United States, China, and Russia, the top three contributors formed 56% of the global total in 2022. With a budget of $877 billion, the United States retained its position as the world's leading military spender, accounting for 39% of total global military spending. Therefore, this surge in worldwide efforts and financial support in the defense sector is poised to propel the hypersonic missiles industry forward in the upcoming years.
What Are The Major Segments Within The Hypersonic Missiles Market?
The hypersonic missiles market covered in this report is segmented –
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
Subsegments:
1) By Hypersonic Glide Vehicle (HGV): Boost-Glide Systems, Maneuverable Reentry Vehicles
2) By Hypersonic Cruise Missile: Air-Breathing Hypersonic Missiles, Turbojet And Scramjet Powered Missiles
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Which Trends Are Expected To Transform The Hypersonic Missiles Market?
Prominent nations worldwide are escalating their concentration on the initiation of long-distance hypersonic initiatives to secure a market advantage. Long-Range Hypersonic Programs denote military or aerospace ventures that are concentrated on establishing, studying, and instituting hypersonic missile systems with elongated operating capabilities. For example, in October 2022, the U.S. Department of Defense effectively accomplished a flight examination of hypersonic weapon segments. This examination was overseen by the United States Navy and Army at NASA's Wallops Flight Facility located in Virginia. The purpose of this examination was to ratify future elements of the Navy's Conventional Prompt Strike (CPS) and the Army's Long-Range Hypersonic initiatives. The test appraised hypersonic weapons' communication and navigation tools, as well as cutting-edge glide vehicles. These hypersonic glide vehicles, deployed from a rocket in the higher atmosphere, glide towards the target at an approximate speed of 3,853 miles (6,200 km) per hour.
Who Are the Key Players in the Hypersonic Missiles Market?
Major companies operating in the hypersonic missiles market include:
• 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 Is The Most Dominant Region In The Hypersonic Missiles Market?
North America was the largest region in the hypersonic missiles market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hypersonic missiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
