Market Trends of Supersonic and Hypersonic Weapons Industry
This section covers the major market trends shaping the Supersonic & Hypersonic Weapons Market according to our research experts:
Missile Segment Registered the Highest Revenue Share in 2020
The missile segment currently has the highest share in the market. This is mainly due to the increasing procurement of missiles by various countries in the world. While cruise missiles are among the most procured missiles, research is also in progress for developing advanced ballistic missiles, especially hypersonic. Several countries have developed their missile defense programs to counter threats from other countries. For instance, as a part of the Indian Ballistic Missile Defence Programme, an initiative to create and deploy a multi-layered ballistic missile defense system to protect India from ballistic missile attacks, the country is procuring supersonic and hypersonic missiles from various countries, in addition to developing its ballistic missiles. Also, countries in the Middle East, like Israel and Iran, are testing and including supersonic and hypersonic missiles in their armory in the wake of rising political tensions in the region. In October 2021, Lockheed Martin and Israel Aerospace Industries (IAI) announced their partnership to develop a hypersonic interceptor missile, boosting Israeli air defense capabilities. Such developments are expected to further drive the growth of the segment during the forecast period.
Europe was the Largest Market for Supersonic and Hypersonic Weapons in the World in 2020
Due to major developments in supersonic and hypersonic weapon technologies by many countries in the region, Europe remained the largest revenue generator for supersonic and hypersonic weapons. Russia has been the primary demand-generating country in the region. The country is progressing forward with the development of many advanced missile systems. In November 2021, Russia announced that its navy has successfully test-fired a prospective hypersonic missile. The Defense Ministry said the Admiral Gorshkov frigate in the White Sea launched the Zircon cruise missile, hitting a practice target 400 kilometers (215 nautical miles) away. The launch was the latest in a series of tests of Zircon, which is set to enter service in 2022. Russia has also developed Kh-47M2 Kinzhal ('Dagger') Nuclear-Capable, Air-Launched Ballistic Missile (ALBM) that can attain speeds of more than Mach 10. Likewise, France has also joined the race to develop 'hypersonic' weapons, after China, Russia, and the United States. The country, in January 2019, announced its Project V-MaX, which aims to create a hypersonic glider that has a speed of more than Mach 5 (i.e., nearly 3,700 miles per hour). The country announced that it would carry out the maiden flight of its hypersonic glider, the V-MAX (Véhicule Manoeuvrant Expérimental), by the end of 2021.
