Hypersonic Missiles Market: Current Analysis and Forecast (2023-2030)

Hypersonic missiles are missiles that travel within the Earth's atmosphere at speeds greater than five times the speed of sound while being highly maneuverable and able to change course during flight. They combine the advantages of both speed and accuracy, making them a significant threat to national and global security. There are two main categories of hypersonic weapons: hypersonic glide vehicles and hypersonic cruise missiles Key features and advantages of hypersonic missiles include: Speed: Hypersonic missiles fly at speeds of at least Mach 5 (five times the speed of sound). Maneuverability: These missiles are highly maneuverable and can change course during flight, making them difficult to intercept by current defense systems. Low altitude: Hypersonic missiles operate at lower altitudes than ballistic missiles, allowing them to evade some defense systems. Surprise and compressed response time: Hypersonic weapons can introduce an element of surprise and compress the response time within the Observe-Orient-Decide-Act (OODA) loop, a decision-making process used in military operations.

The Hypersonic Missile Market is expected to grow at a strong CAGR of around 18.73%. The growing focus of Governments on increasing their defense capability is likely to boost the demand for the Hypersonic Missiles. The world is facing an unprecedented level of global insecurity. In response, governments across the world are taking steps to increase their defense capabilities, with a particular focus on the development and deployment of hypersonic missiles. The development of hypersonic missiles is a relatively new phenomenon. These missiles travel at speeds of up to Mach 5 and can reach their targets in a matter of minutes. This makes them a highly effective weapon for both offensive and defensive purposes. The demand for hypersonic missiles is likely to continue to grow in the coming years. This is since these weapons are becoming increasingly sophisticated and capable of carrying out a range of missions. As a result, governments are increasingly looking to invest in these weapons to increase their defense capabilities. Furthermore, the increasing demand for hypersonic missiles is also likely to have an impact on the global economy. This is because the production of these weapons requires significant investment in both the research and development, as well as the production of the necessary components. As a result, the global economy is likely to experience a boost in demand for these weapons, as governments seek to increase their defense capabilities. Moreover, the demand for hypersonic missiles is expected to increase as governments seek to counter the potential threats posed by these weapons

Based on type, the market is bifurcated into HCM and HGV. The hypersonic cruise missile (HCM) holds the significant share of the hypersonic missile technology market that is being developed around the world. A hypersonic cruise missile is boosted by a rocket to hypersonic speed and then uses an air-breathing engine called a scramjet to sustain that speed. Because they ingest air into their engines, hypersonic cruise missiles require smaller launch rockets than hypersonic glide vehicles, which means they can cost less and be launched from more places. The primary reason nations are developing these next-generation hypersonic weapons is how difficult they are to defend against due to their speed, maneuverability, and flight path.

Based on domain, the market is segmented into land, naval, and airborne. The naval launched hypersonic missiles are one of the fastest growing segment. Naval launched hypersonic missiles offer several advantages over land and air-launched missiles, making them an attractive option for militaries. The most significant advantage is their ability to be launched from a variety of platforms, including submarines, surface ships, and aircraft carriers. This allows them to be deployed quickly and with greater flexibility than land- or air-launched missiles. Furthermore, with the increasing number of disputes over maritime boundaries and the potential for conflict in the South China Sea, the demand for anti ship ballistic missiles has grown significantly.

Based on the range, the market is segmented into short range (<1000 km), mid-range (1000-2000 km), and long range (>2000 km). The Mid-Range hypersonic missiles holds most of the market share. The primary factor that is responsible for this domination is Mid-range missiles have several advantages over short- and long-range missiles, particularly in the case of hypersonic missiles. They are more flexible, cost-effective, accurate, and well-suited for hypersonic missiles. For these reasons, mid-range missiles are becoming increasingly important in modern warfare.

For a better understanding of the market adoption of hypersonic missiles, the market is analyzed based on its worldwide presence in countries such as North America (The U.S.), Europe (Germany, France, and Russia), Asia-Pacific (China). Asia-Pacific is emerging as the fastest-growing hypersonic missile market in CAGR terms. China's hypersonic missile technologies have greatly advanced during the past 20 years, and the country has invested significantly in research, development, and acquisition programs to incorporate these advanced technologies into its military arsenal. Furthermore, China's rapid growth in hypersonic missile manufacturing can be attributed to a combination of factors, including the increasing need for advanced military capabilities, military modernization programs, international competition, technological advancements, and increased funding for hypersonic development.

Some of the major players operating in the market include: RTX; Lockheed Martin Corporation; Northrop Grumman; L3Harris Technologies, Inc.; Leidos; Thales; BAE Systems; General Dynamics Corporation; Kratos Defense & Security Solutions, Inc.; and MBDA