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 hypersonic weapons and missiles business consists of sophisticated weapons and missiles capable of exceeding Mach 5 (five times the speed of sound). These weapons have become more and more in demand in recent years because of their capacity to deliver precise blows in a matter of minutes, enabling speedy reactions to a range of situations. The demand for hypersonic weapons has been driven by the necessity for governments to defend themselves against fictitious attacks from rival nations. Additionally, the ability of hypersonic missiles to get beyond existing air defence systems appeals to military organisations all over the world. The market is also being driven by an increase in the demand for swift global strike capabilities and an increase in interest in space-based activities.

The market for hypersonic weapons is likely to grow in the future years as more countries strive to produce this cutting-edge technology. Market growth is predicted to be fuelled by the propelling need for swift global strike capabilities and the arising adoption of space-based technologies. The market is predicted to profit from the growing demand for better air defence systems as countries work to protect themselves against the threat posed by hypersonic missiles. But there are a few challenges the market must overcome. Concerns about the possibility of these weapons proliferating have arisen as more nations gain the ability to produce them. 

Global Hypersonic Weapons/Missiles Market Drivers:

Increasing Demand for Rapid Global Strike Capabilities is boosting the global market growth

The growing demand for quick global strike capabilities is one of the key factors driving the market for hypersonic weapons and missiles. Because they can execute precision strikes in a matter of minutes, hypersonic weapons are very appealing to military groups all over the world. These missiles are a useful tool in times of conflict due to their capacity to circumvent existing air defence systems and arrive at their targets fast and efficiently. This demand is fuelled by the requirement that countries act swiftly in the face of possible threats and protect their interests globally.

Growing Interest in Space-Based Systems is fuelling the market demand

One anticipates that as interest in space-based technologies grows, there will be a greater need for hypersonic weapons. The insertion of communication and navigation satellites, the delivery of payloads to low Earth orbit, and the investigation of the moon and other celestial bodies are just a few examples of space-based missions in which these weapons could be used. As space becomes more crucial for military, commercial, and scientific objectives, the development of these weapons may also drive innovation and monetary investment in associated technologies, like propulsion and guidance systems.

The need for Advanced Air Defence Systems is augmenting the demand for these missiles expanding the market growth

The demand for enhanced air defence systems has been fuelled by the threat posed by hypersonic missiles. Due to their ability to circumvent existing air defence systems, hypersonic weapons are extremely valuable to military organisations all over the world. Nations are making investments in the creation of sophisticated air defence systems that can find and stop hypersonic weapons in order to combat this danger. Protection of essential infrastructure and national security, as well as the necessity to ward off potential assaults from other countries, are the driving forces behind this requirement.

Global Hypersonic Weapons/Missiles Market Challenges:

The market for hypersonic weapons and missiles has several key obstacles, consisting of a high development cost. Significant research and development expenditures as well as the creation of specialized manufacturing facilities and production techniques are necessary for the development of hypersonic weapons. Smaller nations and enterprises find it challenging to enter the market due to this high cost, which reduces market competition and innovation. In addition, the knowledge and experience needed to produce hypersonic weapons are typically in short supply. This makes it much more difficult for countries and businesses to release these weapons into the market quickly and affordably due to the obstacles caused by the high cost of development.

Global Hypersonic Weapons/Missiles Market Opportunities:

The heightened focus on space-related technologies opens up a big market moment for hypersonic weapons and missiles. As space becomes more decisive for military, commercial, and scientific objectives, it is predicted that demand for hypersonic weapons that can send payloads into space will increase. The opportunity to develop cutting-edge satellites for communication and navigation as well as to study the moon and other celestial bodies is provided to corporations and nations. It is projected that the development of these technologies will promote investment in related disciplines, such as propulsion and guidance systems, boosting the growth of the market for hypersonic weapons and missiles.

HYPERSONIC WEAPONS/MISSILES MARKET RESEARCH REPORT COVERAGE:

Global Hypersonic Weapons/Missiles Market - By Product:

• Hypersonic Glide Vehicle

• Hypersonic Cruise Missile

Hypersonic Glide Vehicles (HGVs) and Hypersonic Cruise Missiles are the two main categories into which the global hypersonic weapons/missiles market is divided (HCMs). High-speed vehicles like HGVs are useful in times of conflict because they can fly at altitudes above the Earth's atmosphere, re-enter to deliver their payload, and avoid current air defence systems. HCMs, on the other hand, are air-breathing systems that can dodge the present air defence systems while flying at great speeds and delivering precision hits in a matter of minutes. Due to the propelling demand for quick worldwide strikes, HGVs are anticipated to hold a higher part of the market. On the other hand, HCMs are anticipated to experience considerable demand due to their adaptability and capacity for accurate strikes. The demand for increased military capabilities and the need to ward off potential attacks from competitor nations are projected to fuel market growth for both HGVs and HCMs in the upcoming years.

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

The market for hypersonic weapons and missiles can be divided into many types of guidance systems, such as laser guidance, inertial guidance, radio frequency guidance, command guidance, terrain comparison guidance, wire guidance, and inertial guidance with terrain comparison. Inertial Guidance systems are likely to account for a sizeable portion of the market because of their high precision and dependability, while GPS Reference systems are anticipated to experience considerable growth due to their availability and simplicity of use. Due to the demand for more sophisticated military capabilities and protection against potential assaults from enemy nations, other guiding systems, such as terrain comparison guidance, wire guidance, and command guidance, are anticipated to see an increase in demand in the future. Command Guidance relies on signals from a ground-based control system, while Wire Guidance transmits information via a physical wire. Beam Rider Guidance employs microwave or laser beams, Terrain Comparison Guidance employs topographic data, Radio Frequency employs radio wave signals, and Laser Guidance employs laser beams.

Global Hypersonic Weapons/Missiles Market - By End-User:

• Military

• Civil

The worldwide market for hypersonic weapons and missiles is predicted to be dominated by the military end-user sector due to the desire for cutting-edge military capabilities and defence against emerging threats. Hypersonic weapons and missiles have become crucial in modern warfare due to their ability to outrun air defence systems and travel at high speeds. It is anticipated that demand for these systems will increase in the future years as governments seek to protect their national interests globally and respond quickly to threats. Although it is projected that the demand for hypersonic weapons and missiles from the civil end-user market will be low, it might grow if new commercial or scientific applications for the technology, such as satellite launches or hypersonic air transport, become available.

Global Hypersonic Weapons/Missiles Market - By Region:

• North America

• Europe

• Asia Pacific

• Middle East

• Latin America

North America and Europe are anticipated to dominate the global market for hypersonic weapons and missiles since these two continents are home to powerful militaries and the necessity for cutting-edge military capabilities to counter possible threats. In contrast, the market for these systems is anticipated to grow significantly in the Asia Pacific region as a result of the region's presence of quickly expanding economies and growing national security concerns. Because of the presence of powerful militaries and an emphasis on national security, the Middle East is likewise anticipated to experience a moderate demand for hypersonic weapons and missiles. Although there is probably not much of a market for these systems in Latin America, as countries in the region concentrate on strengthening their militaries and enhancing their national security, demand there could increase in the future. 

Global Hypersonic Weapons/Missiles Market 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

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

The global market for hypersonic weapons and missiles has been impacted by the COVID-19 pandemic in both positive and negative ways. On the plus side, the pandemic has prompted nations to spend more on military forces as they attempt to safeguard their essential infrastructure and national security in a world that is uncertain and undergoing rapid change. The perception that these systems are significant assets during times of conflict has increased demand for hypersonic weapons. On the downside, the pandemic has hampered the research and manufacturing of hypersonic weapons and disrupted the supply chain.

Global Hypersonic Weapons/Missiles Market Recent Developments:

• In January 2023, NASA and Northrop Grumman are working together to create and test solutions for incorporating large, unmanned aircraft systems into the National Airspace System (NAS). Part of the ATM-X Pathfinding for Airspace with Autonomous Vehicles (PAAV) subproject, this effort will concentrate on air cargo operations, enabling large UAS to operate in the NAS safely, effectively, and reliably.

• In October 2021, the ground system for Lockheed Martin's Long Range Hypersonic Weapon has been delivered to the U.S. Army, allowing them to quickly develop and use long-range precision fires.

• In September 2022, the Hypersonic Attack Cruise Missile is being developed by Raytheon Missiles & Defence and Northrop Grumman under contract to the US Air Force. The US and Australia's SCIFiRE project collaborated to create the HACM, a novel weapon. The missile is air-breathing and capable of hypersonic flight.