Rising demand for faster weapons, coupled with the effectiveness of the Hypersonic Weapons system, will be a significant factor for the growth of the market over the forecast period. However, the regulatory framework that will come into effect in the coming years will be a restraining factor for the growth of the market.
Market Size – USD 5,013.6 Million in 2020, Market Growth - CAGR of 13.70%, Market Trends – The U.S., China, and Russia are the leading nations engaged in designing and testing the hypersonic weapons. Market players are in a bid to profit from the international arms race in Hypersonic Weaponry.
According to the current analysis of Reports and Data, the global Hypersonic Weapons market was USD 5,013.6 Million in 2020 and is projected to grow at a CAGR of 13.70% from 2019 to 2026. Hypersonic Weapons are those that incorporate the speed and the capabilities of a cruise missile while being able to travel at speeds faster than Mach 5 (~3,800mph). A major advantage of Hypersonic weapons lies in the fact that they have increased maneuverability and the smooth flight path makes it harder to track than a traditional weapon. Factors affecting the increasing demand for the Hypersonic Weapons market is the rising demand for weapons that are faster than supersonic speeds. The effectiveness of these weapons is the primary factor for the growth of the industry over the forecasted period. Various countries like the U.S., China, Russia, and India are investing heavily in the research and development of these Hypersonic Weapons industry for the huge potential they hold. The US has invested in the research and development of a hypersonic missile called the Advanced Hypersonic Weapon (AHW), which uses the boost-glide technology to propel the conventional warheads. The primary factor restraining the growth of the market is the increasing investment in radar systems that can detect Hypersonic weapons. Growth of such radar industries will act as a hindrance in the growth of the market of Hypersonic Weapons.
Improved versions of weapons are being developed, and every country wants to dominate the warfront. The U.S., China, and Russia are the major countries pursuing the development of such weapons. With the advent of Hypersonic weapons, the speed and the potential range of engagement will be changed.
Key participants include Lockheed Martin (U.S.), Raytheon (U.S.), Boeing (U.S.), Northrup Grumman (U.K.), Brahmos Aerospace Ltd. (India), Kratos (U.S.), SAAB Ab (Sweden), China Aerospace Science Industry Corp. Ltd. (China), and Aerojet Rocketdyne Holdings, Inc. (U.S.).
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Further key findings from the report suggest
- The valuation for the Global Hypersonic Weapons market was USD 3.4 Billion in 2018 and is forecasted to reach USD 11.9 Billion by 2026.
- Increasing expenditure by the defense sector of various nations in a bid to strengthen themselves is one of the significant factors for the growth of the industry.
- One of the drawbacks of Hypersonic Weapons is the heat produced by the carrier at the time of flight, which can be a matter of concern for the weapon.
- Scramjet, an acronym used for Supersonic Combustion Ramjet, is a major mode of propulsion in the Hypersonic Weapons market.
- The market is still at a nascent stage and lacks a proper regulatory framework. However, an international moratorium on flight tests of hypersonic weapons can slow down the growth of the market over the forecast period.
- Russia is pursuing two hypersonic weapons programs called the Avangard and the 3M22 Tsirkon.
- Tsirkon has a range of between 250 to 600 miles.
- North America holds the largest share of the market with a control over 50% of the global Hypersonic weapons market. The massive contribution of the U.S. in the industry is a primary factor for the high share of the region in the industry. Another factor for the high share of the region is the presence of prominent players in the region.
- The U.S. has invested in the research and development of a hypersonic missile called the Advanced Hypersonic Weapon (AHW), which uses the boost-glide technology to propel the conventional warheads.
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For the purpose of this study, Reports and Data has segmented the Hypersonic Weapons Market on the basis of Launch Mode, Propulsion, Type, Range, Warhead, and Region:
Launch Mode (Revenue, USD Million; 2018–2028)
- Surface to Surface
- Sea to Sea
- Air to Surface
- Sea to Surface
- Air to Air
Propulsion (Revenue, USD Million; 2018–2028)
Type (Revenue, USD Million; 2018–2028)
Range (Revenue, USD Million; 2018–2028)
- Short range
- Medium Range
- Intermediate Range
- Intercontinental range
Warhead (Revenue, USD Million; 2018–2028)
Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- Asia Pacific
- Rest of the World
- Middle East Africa
- Latin America
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Key Advantages of Hypersonic Weapons Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Hypersonic Weapons industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Hypersonic Weapons market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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