Market Size of Supersonic and Hypersonic Weapons Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Supersonic vs Hypersonic Weapons Market Analysis
The market for supersonic and hypersonic weapons is projected to witness a CAGR of more than 6% during the forecast period.
The Covid-19 pandemic has affected the global economy drastically in 2020. Although defense spending is on an increasing trend in 2020, the economic effect of the pandemic might force the governments to reduce defense spending growth levels in the years to come, thereby affecting the R&D spending. This might affect the Supersonic and Hypersonic Weapons Market during the forecast period.
Countries, like Russia, China, India, and the United States, are progressing with research in many advanced hypersonic weapon technologies, and many countries are about to join the race in the future. The growing number of partnerships between the companies in developing supersonic and hypersonic weapons is helping technological advancements in the industry.
The increasing global conflicts and the belief in deterrence theory are propelling the nations to develop advanced nuclear-capable supersonic and hypersonic weapons, thereby, driving the market growth.
Supersonic vs Hypersonic Weapons Industry Segmentation
The supersonic and hypersonic weapons market is segmented by speed into supersonic and hypersonic and by type into missiles and hypersonic glide vehicles. The report also covers the market sizes and forecasts for the supersonic and hypersonic weapons market in major countries across different regions. For each segment, the market sizing and forecasts have been provided in value (USD billion).
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| Hypersonic |
| Type | |
| Missiles | |
| Hypersonic Glide Vehicles |
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Supersonic and Hypersonic Weapons Market Size Summary
The hypersonic and supersonic weapons market is poised for significant growth, driven by increasing global conflicts and the strategic emphasis on deterrence. Nations such as Russia, China, India, and the United States are at the forefront of developing advanced hypersonic technologies, with many others expected to join this competitive landscape. The market is characterized by a surge in partnerships and collaborations among companies, which are fostering technological advancements. The missile segment dominates the market, largely due to the heightened procurement of missiles worldwide, including cruise and advanced ballistic missiles. Countries are also enhancing their missile defense systems to counter potential threats, further propelling market expansion.
Europe stands as a major revenue generator in this sector, with Russia leading the demand through its development of sophisticated missile systems. The region has witnessed significant advancements, including successful test-firings of hypersonic missiles. Other countries, like France, are also making strides in hypersonic weapon development, joining the ranks of global leaders. Key industry players, including Raytheon Technologies, The Boeing Company, and Lockheed Martin, are actively engaged in joint ventures and partnerships to develop tailored military technologies. These collaborations are aimed at capturing new market opportunities, particularly in hypersonic glide vehicles, as countries seek to enhance their military capabilities with cutting-edge technologies.
Supersonic and Hypersonic Weapons Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD billion)
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2.1 Speed
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2.1.1 Supersonic
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2.1.2 Hypersonic
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2.2 Type
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2.2.1 Missiles
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2.2.2 Hypersonic Glide Vehicles
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Latin America
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2.3.4.1 Brazil
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2.3.4.2 Rest of Latin America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 Israel
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2.3.5.3 Rest of Middle-East and Africa
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Supersonic and Hypersonic Weapons Market Size FAQs
What is the current Supersonic and Hypersonic Weapons Market size?
The Supersonic and Hypersonic Weapons Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Supersonic and Hypersonic Weapons Market?
MBDA, Tactical Missiles Corporation, The Boeing Company, Raytheon Technologies Corporation and Lockheed Martin Corporation are the major companies operating in the Supersonic and Hypersonic Weapons Market.
