Global Hypersonic Weapons Market - 2023-2030

Overview

Global Hypersonic Weapons Market reached US$ 7.1 billion in 2022 and is expected to reach US$ 16.6 billion by 2030, growing with a CAGR of 11.2% during the forecast period 2023-2030.

The global hypersonic weapon market is experiencing significant growth, with a surge in government investments globally. While U.S. lags behind Russia, China and North Korea in deploying hypersonic weapons, it allocates substantial budgets for research. The Pentagon's FY2023 budget requests US$ 4.7 billion for hypersonic research and the Missile Defense Agency has requested US$ 225.5 million for hypersonic defense. The investment surge aims to counter increasing threats from nations like Russia and China, which have successfully developed hypersonic missiles.

Furthermore, a variety of countries, including Australia, India, France, Germany, South Korea and Japan, are also actively pursuing hypersonic technology, contributing to the global growth of the hypersonic weapon market. The U.S. cooperates with some of these nations, further driving market expansion. However, US is cautious about establishing official hypersonic programs and awaits clarity on the deployability of these weapons. The global hypersonic weapons race has led to discussions on arms control and risk mitigation measures.

Asia-Pacific holds the largest share in the hypersonic weapon market due to China and Russia's advanced developments in hypersonic missiles with capabilities to enter low-earth orbit. China's hypersonic progress outpaced U.S. expectations, other countries like India and Japan also investing in their defense power which further driving the hypersonic market growth.

Dynamics

Hypersonic Weapons Market: A Top Global Military Focus

The globally hypersonic weapon market is driving significant attention among militaries, governments and international institutions. Many countries, including major powers like U.S., China and Russia, are actively seeking hypersonic weapon programs, leading to growing efforts in research and development. NATO suggests that these weapons could be fielded during the forecast period, potentially within five years.

The global hypersonic weapons market is rapidly expanding, with the Defense Department highlighting it as a top modernization priority. The US$770 billion National Defense Authorization Act had prioritized hypersonic research and development, calling for substantial investments. Hypersonic technology, which traveled above Mach 5 (around 3,800 mph), made the major potential for both military and commercial use, enabling rapid air travel. China, Russia and North Korea had reported successful hypersonic missile tests.

Government Investments

Government investments are playing a major role in driving the market for hypersonic weapons. Countries, including U.S., China and Russia, are allocating significant funds to develop, test and deploy hypersonic missile systems. The investments are driven by growing security concerns and the need to counter emerging threats. The market is expanding as defense agencies collaborate with industry leaders to accelerate research and development, leading to increased spending on advanced technologies for hypersonic weapons and their associated defense systems.

U.S. will invest US$ 1.3 billion in developing 28 advanced satellites for improved tracking of hypersonic missile threats. The Space Development Agency's director, Derek Tournear, revealed that these satellites aim to enhance US's defense capabilities against hypersonic threats posed by Russia and China. The nations have made significant advancements in hypersonic missile technology, which are challenging to track and intercept due to their maneuverability. The satellites will focus on detecting and tracking hypersonic maneuvering vehicles, helping predict their impact points. The project, awarded to L3Harris Technologies and Northrop Grumman, is part of a shift towards a more extensive, overlapping satellite system.

Implications of Hypersonic Weapons for International Security and Stability

Hypersonic weapons are creating implications for international stability, security and peace. The development of hypersonic technology has far-reaching consequences, including the potential to undermine arms control and disarmament efforts, heightening the need for multilateral control mechanisms. Various proposals, including a test ban, targeting bans and export controls, have been suggested to address these challenges, but international consensus and political will are required to effectively manage the risks and proliferation of hypersonic weapons. The absence of such measures could exacerbate arms races and increase global tensions.

The proliferation of hypersonic technology is driving advancements in defense technologies to counter these weapons, including kinetic interceptors, electromagnetic railguns and high-power lasers. The technologies, while aimed at defense, also have potential offensive applications. The speed and reduced response time of hypersonic weapons raise concerns about decision-making under time pressure and the potential for pre-emptive strikes, accidents, miscalculations and conflict instability.

Segment Analysis

The global hypersonic weapons platforms market is segmented based on type, domain, range and region.

Hypersonic Missiles: Dominating the Hypersonic Weapon Market

Hypersonic missiles dominate the hypersonic weapon market due to their versatility and strategic importance. It offer unmatched speed and maneuverability, making them challenging to intercept and can be used for both offensive and defensive purposes. Nations are heavily investing in hypersonic missile development, driving market growth. Its applications in military operations, including precision strikes and anti-ship capabilities, ensure their significant share in the hypersonic weapon market, with continuous advancements and deployments globally.

In October 2023, North Korea declared the first successful test-launch of a newly developed hypersonic missile with "strategic significance" for its self-defense capabilities. The North's Academy of Defence Science launched the Hwasong-8 missile from Toyang-ri, Ryongrim County. The test confirmed the stability of the engine and missile fuel ampoule, which would expedite missile readiness. While not explicitly stated, experts believe the missile is liquid-fueled and likely a ballistic missile. The test demonstrated advancements in defense science and technology, enhancing the nation's self-defense capabilities.

Geographical Penetration

Asia-Pacific Dominance in the Global Hypersonic Weapons Market

Asia-Pacific leads the global hypersonic weapons market with its rapid advancements in hypersonic technology and increasing security concerns. China, with its significant investments in hypersonic capabilities, is at the forefront, deploying hypersonic missiles such as the DF-17 and air-launched variants. Japan is also actively pursuing hypersonic cruise missiles and gliding projectiles, driven by regional security dynamics.

In South Korea, the desire for viable missile strike capabilities in response to North Korea's ballistic missile arsenal fuels the development of hypersonic weapons. Australia has allocated substantial funding for hypersonic weapons development in response to evolving regional power dynamics. India, too, is advancing in the field with its hypersonic technology demonstrator vehicle and high-energy laser systems.

COVID-19 Impact Analysis

The impact of COVID-19 on the hypersonic weapon market has exposed vulnerabilities in United States' deterrence and power projection abilities. The pandemic's strain on U.S. military's operational capabilities has drawn attention to the importance of hypersonic weapons, which offer rapid response and strategic advantages.

While U.S. tested a major part of its hypersonic missile program amid the pandemic, concerns about readiness have emerged. Hypersonic weapons, traveling at Mach 5 to Mach 10, provide a time-sensitive means of power projection, but U.S. defense currently lacks comprehensive systems to counter them. Russia and China have advanced their hypersonic programs, increasing the urgency for U.S. development.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine war has affected the hypersonic weapon market by showcasing the use of these advanced weapons in the conflict. Russia deployed hypersonic missiles, including the Kinzhal, in attacks on Ukrainian targets. The hypersonic missiles are challenging for air defenses, combining high speed with maneuverability that evades interception. Hypersonics, like the Kinzhal, accelerate to Mach 4 or faster, making them difficult to detect and capable of unpredictable course changes.

The conflict has highlighted the operational use of hypersonic technology in warfare. While there's debate over their game-changing impact, the Pentagon and experts have emphasized the need for missile defense systems to counter this emerging threat, indicating potential growth in the hypersonic weapon market.

By Type

• Hypersonic Missiles
• Hypersonic Glide Vehicles

By Domain`

• Land
• Naval
• Airborne

By Range

• Short-range
• Medium-range
• Long-range

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In January 2023, India conducted another test to develop hypersonic weapons, including the Hypersonic Technology Demonstrator Vehicle (HSTDV). The test took place off the Odisha coast and involved a scramjet engine-powered vehicle. The move comes in response to the ongoing global race, involving China, Russia and US, to create hypersonic weapons capable of traveling over five times the speed of sound and evading missile defense systems.
• In August 2023, Iran announced the development of supersonic cruise missile technology, marking another addition to its growing missile program. While the missile was not named, it was reported to be part of a new generation of Iranian cruise missiles.

Competitive Landscape

The major global players in the market include: Raytheon Technologies Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, L3Harris Technologies Inc., Leidos, Thales Group, General Dynamics Corporation, Boeing, Israel Aerospace Industries, Bae Systems.

Why Purchase the Report?

• To visualize the global hypersonic weapons platforms market segmentation based on type, domain, range and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of hypersonic weapons platforms market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Type mapping available as excel consisting of key Types of all the major players.

The global hypersonic weapons platforms market report would provide approximately 61 tables, 56 figures and 182 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies