Report Ocean recently released a comprehensive report on the global Hypersonic Technology market, offering valuable insights into various factors impacting the market’s growth. The report covers crucial information on market restraints, drivers, and opportunities, enabling readers to understand the market dynamics. It also provides a detailed analysis of industry developments and trends that are shaping the global Hypersonic Technology market. Furthermore, the report includes a thorough assessment of the market at both global and regional levels, providing comprehensive insights for businesses and stakeholders.
The global hypersonic technology market was calculated at $4.95 billion in 2020. The market is likely to grow at a CAGR of 9.2% during the forecast period, from 2021 to 2027.
The hypersonic frequency is 5 times faster than the speed of sound. Hypersonic technologies are missiles, theater-reach, and global-reach aircraft, space launch vehicles, etc. Hypersonic vehicles empower a new class of flight vehicles to have faster access to space.
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Factors Affecting
Growing territorial conflicts are boosting the growth of the global hypersonic technology market throughout the world. For example, 6 countries hold power to the South and East China Seas. The area of the seas provides a plentiful of natural gas and hydrocarbons. The large international trade flow worth trillions of dollars are dependent on the trade. As China expands its dominance in the area and builds military bases on islands, other member countries, Japan, the Philippines, and Vietnam, are increasing forcefulness.
United States is building a common missile body for multiple military branches (C-HGB). On the other hand, Boeing is developing a hypersonic transportation technology to reduce the travel time from New York to Paris to 90 minutes. Thus, these developments will soar the growth of the hypersonic technology market during the analysis period.
Authorities usually face testing challenges in hypersonic technologies. It becomes difficult for facilities to provide full-scale, time-dependent, coupled aerodynamic and thermal-loading environments for flight durations. Thus, the development of hypersonic technologies makes it essential to have good facilities for testing thermal propulsion systems, heat resistant materials, navigation guidance and control systems, and shielding. The testing of hypersonic technologies is expensive. Hence, it can limit the growth of the hypersonic technology market during the forecast period.
Progressions in scramjet technology can create a positive impact on the global hypersonic technology market.A scramjet engine is crucial for obtaining hypersonic speeds. Few nations like India, Australia, and the U.S have initiated the development of scramjet technology. In 2020, India tested a hypersonic technology demonstrator vehicle (HSTDV) based on a scramjet engine. India also joined the club of countries that have succeeded in hypersonic technology. The growth of reliable scramjet engines will prompt the expansion of hypersonic technologies. Thus, it will propel the rise of the global market in the future.
COVID-19 Impact Analysis
The COVID-19 outbreak has had an adverse negative impact on worldwide business. It also impacted the development of expensive technologies like hypersonic technologies. The government-imposed lockdown put a halt to the production and testing process. Hence, it affected the overall deployment.
Adverse disruption and economic downfall halted the adoption of technologies like aircraft and hypersonic missiles. COVID-19 outbreak seized import and export of raw materials in 2020. Thus, the unavailability of raw materials impacted the manufacturing of ground defense equipment.
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Regional Analysis
North America would dominate the market by exhibiting the highest CAGR during the forecast time frame.North America would dominate the market by exhibiting the highest CAGR during the forecast time frame. United States’ continuous investments in developing hypersonic weapons (Hacksaw) became another reason for its dominance. Furthermore, the country is also developing a common missile body which will contribute to the overall growth.
Key market segments
By Launch Mode
- Air Launched
- Surface Launched
- Subsea Launched
By End-User
- Military
- Air Force
- Navy
- Space
By Type
- Hypersonic Glide Vehicle
- Hypersonic Cruise Missile
- Hypersonic Spaceplanes
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
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- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Key players
- BAE Systems plc
- Dynetics, Inc.
- Hermeus Corp.
- Lockheed Martin Corporation
- MBDA
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Reaction Engines
- The Boeing Company
- Velontra
- Other prominent players
Table of Content
Chapter 1: Global Hypersonic Technology Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Hypersonic Technology market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Hypersonic Technology Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Hypersonic Technology market Size Forecast (2023-2031).
Hypersonic Technology Market Research Report Scenario includes:
>The report provides qualitative and quantitative trends of global Hypersonic Technology Market across type, type of products, service, and geography.
>The report starts with the key takeaways, highlighting the key trends and outlook of the global Hypersonic Technology Market.
>Provides the research methodology of the study.
>Further provides PEST analysis for each region.
>Highlights the key industry dynamics in the Hypersonic Technology Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
>Discusses the global Hypersonic Technology Market scenario, in terms of historical market revenues, and forecast till the year 2031.
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