Hypersonic Weapons/Missiles Market Size (2024 –2030)

The Global Hypersonic Weapons/Missiles Market was valued at USD 118.52 billion and is projected to reach a market size of USD 175.87 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 5.8%.

The advanced weaponry used in the hypersonic weapons and missile industry can travel at speeds greater than five times the speed of sound (Mach 5). Because they can respond quickly to a variety of situations and deliver precise strikes, these weapons are in high demand. Governments look for hypersonic weapons to counter possible foreign threats, and military groups all over the world are drawn to the missiles' capacity to get around current air defense systems. The market is also being driven by the growing interest in space-based activities and the need for quick global strike capabilities. The market for hypersonic weapons is anticipated to grow as more nations work to advance this revolutionary technology. The need for quick worldwide strike capabilities and the uptake of space-based technologies will drive growth. Additionally, as nations look to defend themselves against hypersonic missile threats, there is a growing need for better air defense systems. But as more countries develop the capacity to produce these weapons, the market faces obstacles because of worries about their proliferation.

Key Market Insights:

By 2025, it is anticipated that global investment in the research and development of hypersonic weapons will have surpassed $20 billion, a significant rise over prior years.Over the previous ten years, the average speed of hypersonic missiles has increased by about 30%, with newer models reaching speeds of over Mach 5 (more than 3,800 miles per hour).The fact that more than 15 nations are actively pursuing or developing hypersonic weapons programs shows how important these cutting-edge missile systems are viewed globally and how much interest they are generating.The exploration of hypersonic weapons for various purposes, including countering ships, is underway. Several navies intend to incorporate these systems into their maritime defense plans in the next five years.

Global Hypersonic Weapons/Missiles Market Drivers:

The demand for quick global strike capabilities is rising, which is driving the expansion of the global market.

The market for hypersonic weapons and missiles is largely driven by the growing need for quick worldwide strike capabilities. Hypersonic weapons are attractive to military organizations because they can launch accurate strikes rapidly. During battles, these missiles can quickly and efficiently reach their targets by getting around the present air defense systems. Governments desire these capacities to protect their interests globally and react quickly to possible threats.

Demand in the market is being driven by a growing interest in space-based systems.

It is anticipated that the market for hypersonic weapons will rise in tandem with interest in space-based technologies. These weapons could be employed in satellite missions, payload missions to low Earth orbit, and lunar and other celestial body exploration missions. The development of these weapons could spur improvements in related technologies like propulsion and guidance systems, as space becomes increasingly important for military, commercial, and scientific reasons.

The market is growing because of the increased demand for these missiles due to the requirement for advanced air defense systems.

The need for better air defense systems has increased due to the threat posed by hypersonic missiles. Hypersonic weapons are highly prized by military organizations around the world because they can get past the current air defenses. Countries are investing in cutting-edge air defense systems that can recognize and stop hypersonic weapons to counter this threat. This need is driven by the need to defend against potential foreign attacks, safeguard vital infrastructure, and maintain national security.

Hypersonic Weapons/Missiles Market Challenges and Restraints:

The primary obstacle facing the hypersonic weapons and missile market is the high cost of development. It will cost a lot of money to develop hypersonic weapons due to the need for specialized manufacturing facilities, production methods, and research and development. Smaller countries and businesses face obstacles as a result of this high cost, which restricts market competition and innovation. Hypersonic weapon production also requires specialized knowledge, which is frequently lacking, making it challenging for nations and companies to swiftly and reasonably enter this market.

Hypersonic Weapons/Missiles Market Opportunities:

Hypersonic weapons and missiles have a sizable market opportunity due to the growing interest in space-related technologies. A predicted rise in demand for hypersonic weapons that can launch payloads into space is expected as space becomes more significant for military, commercial, and scientific reasons. This creates chances for businesses and countries to create cutting-edge satellites for space exploration, navigation, and communication purposes. The market for hypersonic weapons and missiles is predicted to rise as a result of the development of these technologies, which is anticipated to spur investment in allied fields like propulsion and guidance systems.

HYPERSONIC WEAPONS/MISSILES MARKET REPORT COVERAGE:

Global Hypersonic Weapons/Missiles Market - By Product

• Hypersonic Glide Vehicle

• Hypersonic Cruise Missile

Hypersonic Glide Vehicles (HGVs) and Hypersonic Cruise Missiles (HCMs) comprise the two primary segments of the worldwide market for hypersonic weapons and missiles. High-speed vehicles, or HGVs, can fly above the Earth's atmosphere, reenter the atmosphere to deliver payloads, and get around air defense systems that are in place during combat. HCMs, on the other hand, are air-breathing machines that can quickly and precisely launch strikes while flying at high speeds and dodging air defense systems. A higher market share for HGVs is anticipated as a result of the rising demand for rapid worldwide strikes. In the meantime, due to their adaptability and precise strike delivery, HCMs are anticipated to see substantial demand. In the upcoming years, the need for improved military capabilities and defense against possible foreign threats will propel the growth of both HGVs and HCMs.

Global Hypersonic Weapons/Missiles Market - By Application

• Wire Guidance

• Command Guidance

• Terrain Comparison Guidance

• Inertial Guidance

• Beam Rider Guidance

• Radio Frequency

• GPS Reference

• Laser Guidance

Numerous guidance systems are available on the market for hypersonic weapons and missiles, which aid in their navigation and precise target acquisition. Inertial guidance, GPS reference systems, wire guidance, radio frequency guidance, command guidance, terrain comparison guidance, and laser guidance are a few popular types of guidance systems. The precision and dependability of inertial guidance make it preferred, but the ease of use of GPS reference systems is making them more and more popular. As nations strive for increasingly sophisticated military capabilities and defense against possible threats, other systems such as terrain comparison, wire guidance, and command guidance are anticipated to be in high demand. While wire guidance sends information via a physical wire, command guidance uses signals from a ground-based control system. Radiofrequency guidance uses radio wave signals; beam rider guidance uses microwave or laser beams; terrain comparison guidance uses topographic data; and laser guidance uses laser beams. Every one of these systems contributes to maintaining the precision and potency of hypersonic weapons and missiles.

Global Hypersonic Weapons/Missiles Market - By End-User

• Military

• Civil

The need for advanced defense capabilities to counter emerging threats is expected to propel countries' pursuit of these capabilities, thereby driving the global market for hypersonic weapons and missiles. Because they can travel at incredibly high speeds and avoid air defense systems, hypersonic weapons are useful in modern warfare. It is anticipated that as governments work to safeguard national interests and react swiftly to threats across the globe, demand for these systems will increase. Although there may not be much demand from the civilian sectors right now, that demand might rise if new commercial or scientific applications of hypersonic technology—such as satellite launches or fast air travel—become possible.

Global Hypersonic Weapons/Missiles Market - By Region

• North America

• Europe

• Asia Pacific

• Middle East

• Latin America

Because of their powerful armed forces and the requirement for cutting-edge defense capabilities against possible threats, North America and Europe are anticipated to dominate the global market for hypersonic weapons and missiles. Due to rising economies and growing security concerns, the Asia Pacific region is also expected to see significant growth in this market. The Middle East's emphasis on defense and national security is predicted to result in a moderate demand for hypersonic weapons. Although there may not be much of a market for these systems in Latin America right now, as the region's nations bolster their armed forces, that could change in the future.

COVID-19 Impact on the Global Hypersonic Weapons/Missiles Market:

The COVID-19 pandemic has impacted the global market for hypersonic weapons and missiles in several ways. Positively, the demand for hypersonic weapons has increased as a result of countries increasing their military spending to safeguard their infrastructure and national security during tumultuous times. Nevertheless, the pandemic has also caused problems for the development and production of hypersonic weapons by interfering with research, manufacturing, and the supply chain.

Latest Trend/Development:

There are several significant trends and advancements in the hypersonic weapons and missile market. One significant trend is the rise in funding and research into hypersonic technologies by superpowers such as China, Russia, and the United States. These nations are aggressively working to improve their military prowess through the development and use of hypersonic weapons. The development of propulsion and guidance systems, which allow for quicker and more precise hypersonic flight, is another trend. The creation of strong, heat-resistant materials required for hypersonic vehicles is also being aided by advancements in materials science and engineering. In addition, air-breathing hypersonic vehicles—like hypersonic cruise missiles—are becoming more and more important because they can maneuver through Earth's atmosphere at extremely high speeds. Comparing these systems to conventional ballistic missiles, they provide increased operational flexibility. In the market for hypersonic weapons, international cooperation and partnerships are also becoming more and more prominent. To develop advanced hypersonic capabilities, nations such as the United States and Australia are collaborating on joint projects like the SCIFiRE initiative.

Key Players:

1. The Boeing Company

2. Kongsberg Gruppen AS

3. Raytheon Technologies Corporation

4. Israel Aerospace Industries

5. Lockheed Martin Corporation

6. Northrop Grumman Corporation

7. MBDA

8. DRDO

9. Tactical Missiles Corporation

10. ArianeGroup

Market News:

• To develop and test methods for integrating large unmanned aircraft systems (UAS) into the National Airspace System (NAS), NASA and Northrop Grumman teamed up in January 2023. Under the ATM-X Pathfinding initiative, this project—known as PAAV—aims to enable safe and efficient air cargo operations within the NAS by utilizing large Unmanned Aerial Systems (UAS).

• Under a contract with the US Air Force, Raytheon Missiles & Defense and Northrop Grumman worked together to develop the Hypersonic Attack Cruise Missile (HACM) in September 2022. This missile is a component of the US-Australian SCIFiRE project, which aims to develop an air-breathing hypersonic weapon with fast flight speeds.