Hypersonic Weapons Market: Global Industry Analysis and Forecast (2024-2030)

  • The Hypersonic Weapons Market size was valued at USD 7.033 Bn. in 2023 and the total Global Hypersonic Weapons revenue is expected to grow at a CAGR of 11% from 2024 to 2030, reaching nearly USD 14.6 Bn. by 2030.

  • Format : PDF | Report ID : SMR_1920

Hypersonic Weapons Market Overview

The report provides a comprehensive analysis of the market landscape, including key trends, drivers, challenges, and opportunities. An analysis of the factors driving market growth, such as increasing defense budgets, technological innovation, and geopolitical tensions, is provided. Additionally, challenges such as limited testing facilities and regulatory constraints are discussed in the SMR report. Key growth drivers in the hypersonic weapons market include rising defense budgets globally, spurred by the strategic importance of hypersonic capabilities. Technological advancements in materials science, propulsion, and guidance systems are enhancing the speed and precision of hypersonic weapons.

 

Heightened geopolitical tensions and evolving security threats drive nations to invest in hypersonic technology for deterrence and defense. Intense competition among defense contractors and research institutions raises innovation and cost reduction, widening accessibility to hypersonic weapons for a broader market segment. Investment opportunities in the hypersonic weapons market are substantial. Investing in research and development (R&D) of hypersonic technologies promises significant growth and innovation.

 

The increasing demand for manufacturing hypersonic weapons components and systems offers opportunities in production facilities and supply chain infrastructure. Strategic partnerships between government agencies, defense contractors, and tech companies expedite development, presenting joint venture and technology transfer prospects. Also, the rising threat of hypersonic weapons necessitates advanced countermeasures. Investing in the R&D of counter-hypersonic defense systems provides significant growth potential within the emerging market segment.

Hypersonic Weapons Market

 

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Hypersonic Weapons Dynamics

National Security and Defense Modernization

The pursuit of hypersonic weapons is increasingly seen as crucial for national security, driven by the need to counter evolving threats and maintain strategic superiority. These weapons' dynamic flight paths make them difficult to track and intercept, enhancing their effectiveness. Additionally, hypersonic weapons penetrate existing missile defense systems by flying at lower altitudes and higher speeds, allowing for precise strikes on critical targets. Their possession acts as a powerful deterrent, instilling caution in adversaries. Furthermore, hypersonic weapons enhance a nation's military power projection, enabling rapid and decisive actions that are crucial in modern warfare, where striking high-value targets swiftly alters conflict outcomes.

 

Major Powers like the United States, China, and Russia are increasing their defense budgets, dedicating significant portions to hypersonic weapon research and development. The U.S., for instance, allocated $4.7 billion in FY2023 for hypersonic programs, with additional funding in FY2024, demonstrating a strong commitment to these technologies. Defense contractors such as Lockheed Martin, Raytheon, and Northrop Grumman are heavily invested in hypersonic technology, as seen in press releases, patent filings, and industry events. Increased collaborations between governments, defense contractors, and research institutions are pooling resources and expertise. Frequent news reports of successful tests and program milestones indicate accelerated development and growing confidence in hypersonic technology.

 

Testing and Evaluation Challenges in the Hypersonic Weapons Market

The hypersonic weapons market faces significant challenges due to limited testing facilities, which cause development delays and increased costs. The scarcity of such facilities leads to long wait times for necessary tests, hindering progress. Additionally, the high demand for these facilities drives up costs, including substantial investments in constructing new ones. Program risks are elevated as insufficient testing increases the likelihood of undetected issues and costly failures, setting back development significantly. The inherently high-risk nature of hypersonic weapons testing, due to extreme conditions, means failures are expensive and necessitate robust, sophisticated protocols to ensure safety and reliability.

 

Impact of the Russia-Ukraine War on the Hypersonic Weapons Market

  1. The Russo-Ukrainian War, which saw a significant escalation with Russia's invasion of Ukraine on February 24, 2022, has underscored the critical importance of advanced military capabilities in the region. The conflict has heightened tensions and emphasized the necessity for robust defense systems among affected nations. Therefore, there's a growing interest in strengthening deterrence capabilities, with a particular focus on hypersonic missile technology. The conflict catalyzes increased collaboration among nations facing similar security challenges, potentially leading to joint initiatives in hypersonic technology research and development.
  2. The utilization of hypersonic weapons, such as Russia's air-launched Kh-47M2 Kinzhal missile, also known as the "Dagger," marks a significant milestone in military history. These weapons have been deployed on the battlefield for the first time, demonstrating their effectiveness in real-world scenarios. The event has garnered widespread attention and is likely to accelerate the development and deployment of hypersonic systems by various nations.
  3. The impact of the Russo-Ukrainian War on the hypersonic weapons market is multifaceted. It has highlighted the urgent need for nations to enhance their defense capabilities, leading to increased investment in hypersonic technology. The use of hypersonic weapons in the conflict has raised awareness of their capabilities and spurred interest from both governments and private companies in advancing this technology. The war has contributed to the rapid growth of the hypersonic weapons market, with nations around the world recognizing the strategic importance of these advanced weapons systems.

 

Hypersonic Weapons Market Segment Analysis

By Type, The Hypersonic Glide Missiles segment held the largest market share in the Global Hypersonic Weapons Market in 2023. According to SMR analysis, the segment is further expected to grow at a CAGR of XX% during the forecast period. HGVs are expected to dominate the market due to their significant advantages over other hypersonic weapon platforms. Their high maneuverability and ability to travel long distances at hypersonic speeds make them highly effective for penetrating advanced missile defense systems and striking high-value targets with precision. The capability enhances the strategic value of HGVs for military operations, as they offer unparalleled speed and agility in combat scenarios. Also, the potential for reusability in some HGV designs further amplifies their impact on the market.

 

Reusable HGVs can significantly reduce the overall cost of operations compared to disposable alternatives, making them more economically viable for sustained military engagements and long-term defense strategies. The cost-effectiveness is a crucial factor for defense agencies and governments when considering investments in hypersonic weapons technology. The emergence of HGVs as a potential leader in the hypersonic weapons market represents a significant shift in military capabilities and strategic dynamics. Their unique combination of speed, maneuverability, and potential cost-effectiveness positions them as key assets for enhancing national security and military deterrence capabilities in an evolving global landscape.

Hypersonic Weapons Market1

Hypersonic Weapons Market Regional Insights

The North American hypersonic weapons market is a vital contributor to global growth, driven by several key factors. The United States boasts the world's highest military spending, with a significant portion allocated to hypersonic weapons development. For example, the Department of Defense requested $13 billion for hypersonic programs in recent years. Secondly, North America, particularly the US, is a hub for technological innovation, especially in aerospace and hypersonic research. The robust defense industry fosters advancements and bolsters the domestic market's strength. Also, strategic competition with nations like China and Russia, which have hypersonic programs, compels the US to maintain its technological edge, further driving market growth.

 

Recent developments in North America underscore its prominence in the hypersonic weapons market. The US military has successfully tested hypersonic vehicles such as the Advanced Hypersonic Weapon (AHW) and the Long-Range Hypersonic Weapon (LRHW), demonstrating its commitment to advancing hypersonic capabilities. Furthermore, major defense contractors like Lockheed Martin, Raytheon, and Boeing are heavily involved in hypersonic weapon development programs, contributing to industry growth. Additionally, the US is actively researching methods to defend against hypersonic threats, creating a burgeoning market segment within the region focused on counter-hypersonic defenses. These factors collectively position North America as a key player in the global hypersonic weapons market, driving innovation, competition, and strategic advancements.

 

The US government is pivotal in shaping the hypersonic weapons market through funding research and development via agencies like DARPA, setting strategic goals for national security objectives, and establishing regulatory frameworks. As the dominant player in North America, the United States leads the hypersonic weapons market because of its substantial military budget allocation and advanced technological base. With extensive resources dedicated to hypersonic development and a history of aerospace innovation, the US maintains a strong position, surpassing Canada and Mexico in the sector.

 

Hypersonic Weapons Market Competitive Landscape

New hypersonic weapon launches have a significant impact on the market, driving technological advancement by pushing the boundaries of speed, range, manoeuvrability, and targeting capabilities. Companies struggle for market differentiation, offering unique features and diversifying the market with specialized vehicle types and propulsion methods. Additionally, successful launches serve as strategic posturing, sending a clear message to competitors and potentially accelerating development efforts industry-wide. The ripple effect stimulates market growth as nations respond to emerging capabilities, driving further innovation and competition in the hypersonic weapons market.

 

  1. In August 2023, Northrop Grumman inaugurated its Hypersonic Capability Center (HCC) in Elkton, Maryland, focusing on the production of advanced propulsion solutions for hypersonic missiles exceeding Mach 5. The U.S.-based facility specializes in large-scale manufacturing of air-breathing propulsion systems, including ramjet and scramjet technologies.
  2. In May 2023, BrahMos Aerospace, a joint venture between India and Russia, achieved a breakthrough in hypersonic missile technology, unveiling a hypersonic version of the BrahMos missile capable of traveling at speeds five to seven times the speed of sound.
  3. In July 2023, RTX and Northrop Grumman secured a contract from the Defense Advanced Research Projects Agency (DARPA) to advance air-breathing hypersonic systems. The collaboration aims to facilitate the development and flight testing of additional Hypersonic Air-breathing Weapon Concept (HAWC) vehicles, enhancing capabilities and validating system effectiveness.

Hypersonic Weapons Market Scope

Market Size in 2023

USD 7.033 Bn.

Market Size in 2030

USD 14.6 Bn.

CAGR (2024-2030)

11%

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

 

By Type

Hypersonic Glide Missiles

Hypersonic Cruise Missiles

Hypersonic Spaceplanes

By Range

Short Range

Medium Range

Long Range

By End User

Army

Navy

Air Force

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Key Player in the Hypersonic Weapons Market

  1. Lockheed Martin Corporation
  2. Raytheon Technologies Corporation
  3. Northrop Grumann Corporation
  4. L3Harris Technologies Inc.
  5. Leidos
  6. Thales Group
  7. General Dynamics Corporation
  8. Israel Aerospace Industries
  9. Bae Systems
  10. The Boeing Company
  11. Kongsberg Gruppen AS
  12. Israel Aerospace Industries
  13. Northrop Grumman Corporation
  14. MBDA
  15. DRDO
  16. Ariane Group
  17. Dassault Aviation (France)
  18. Serco Group plc (UK)
  19. Huntington Ingalls Industries, Inc. (USA)
  20. QinetiQ Group plc (UK)
  21. XXX Inc.


Frequently Asked Questions

The United States, Russia, and China are the primary leaders in hypersonic weapons development. These nations have made significant investments in research, development, and testing of hypersonic technologies to maintain a strategic edge.

1.    Hypersonic Weapons Market: Research Methodology 
2.    Hypersonic Weapons Market: Executive Summary
3.    Hypersonic Weapons Market: Competitive Landscape

3.1. Stellar Competition Matrix
3.2. Competitive Landscape
3.3. Key Players Benchmarking
3.4. Market Structure
3.4.1.    Market Leaders 
3.4.2.    Market Followers
3.4.3.    Emerging Players

3.5. Consolidation of the Market
4.    Hypersonic Weapons Market: Dynamics
4.1. Market Trends by Region
4.1.1.    North America
4.1.2.    Europe
4.1.3.    Asia Pacific
4.1.4.    Middle East and Africa
4.1.5.    South America

4.2. Market Restraints
4.3. Market Opportunities
4.4. Market Challenges
4.5. PORTER’s Five Forces Analysis
4.6. PESTLE Analysis
4.7. Strategies for New Entrants to Penetrate the Market
4.8. Regulatory Landscape by Region
4.8.1.    North America
4.8.2.    Europe
4.8.3.    Asia Pacific
4.8.4.    Middle East and Africa
4.8.5.    South America

5.    Hypersonic Weapons Market Size and Forecast by Segments (by Value in USD Million)
5.1. Hypersonic Weapons Market Size and Forecast, by Type(2023-2030)
5.1.1.    Hypersonic Glide Missiles
5.1.2.    Hypersonic Cruise Missiles
5.1.3.    Hypersonic Spaceplanes

5.2. Hypersonic Weapons Market Size and Forecast, by Range (2023-2030)
5.2.1.    Short Range
5.2.2.    Medium Range
5.2.3.    Long Range 

5.3. Hypersonic Weapons Market Size and Forecast, by End User (2023-2030)
5.3.1.    Army
5.3.2.    Navy
5.3.3.    Air Force
 
5.4. Hypersonic Weapons Market Size and Forecast, by Region (2023-2030)
5.4.1.    North America
5.4.2.    Europe
5.4.3.    Asia Pacific
5.4.4.    Middle East and Africa
5.4.5.    South America

6.    North America Hypersonic Weapons Market Size and Forecast (by Value in USD Million)
6.1. North America Hypersonic Weapons Market Size and Forecast, by Type(2023-2030)
6.1.1.    Hypersonic Glide Missiles
6.1.2.    Hypersonic Cruise Missiles
6.1.3.    Hypersonic Spaceplanes

6.2. North America Hypersonic Weapons Market Size and Forecast, by Range (2023-2030)
6.2.1.    Short Range
6.2.2.    Medium Range
6.2.3.    Long Range 

6.3. North America Hypersonic Weapons Market Size and Forecast, by End User (2023-2030)
6.3.1.    Army
6.3.2.    Navy
6.3.3.    Air Force 

6.4. North America Hypersonic Weapons Market Size and Forecast, by Country (2023-2030)
6.4.1.    UK
6.4.2.    France
6.4.3.    Germany
6.4.4.    Italy
6.4.5.    Spain
6.4.6.    Sweden
6.4.7.    Austria
6.4.8.    Rest of Europe

7.    Asia Pacific Hypersonic Weapons Market Size and Forecast (by Value in USD Million)
7.1. Asia Pacific Hypersonic Weapons Market Size and Forecast, by Type(2023-2030)
7.1.1.    Hypersonic Glide Missiles
7.1.2.    Hypersonic Cruise Missiles
7.1.3.    Hypersonic Spaceplanes

7.2. Asia Pacific Hypersonic Weapons Market Size and Forecast, by Range (2023-2030)
7.2.1.    Short Range
7.2.2.    Medium Range
7.2.3.    Long Range 

7.3. Asia Pacific Hypersonic Weapons Market Size and Forecast, by End User (2023-2030)
7.3.1.    Army
7.3.2.    Navy
7.3.3.    Air Force 

7.4. Asia Pacific Hypersonic Weapons Market Size and Forecast, by Country (2023-2030)
7.4.1.    China
7.4.2.    S Korea
7.4.3.    Japan
7.4.4.    India
7.4.5.    Australia
7.4.6.    Indonesia 
7.4.7.    Malaysia
7.4.8.    Vietnam
7.4.9.    Taiwan
7.4.10.    Bangladesh 
7.4.11.    Pakistan
7.4.12.    Rest of Asia Pacific

8.    Middle East and Africa Hypersonic Weapons Market Size and Forecast (by Value in USD Million)
8.1. Middle East and Africa Hypersonic Weapons Market Size and Forecast, by Type(2023-2030)
8.1.1.    Hypersonic Glide Missiles
8.1.2.    Hypersonic Cruise Missiles
8.1.3.    Hypersonic Spaceplanes

8.2. Middle East and Africa Hypersonic Weapons Market Size and Forecast, by Range (2023-2030)
8.2.1.    Short Range
8.2.2.    Medium Range
8.2.3.    Long Range 

8.3. Middle East and Africa Hypersonic Weapons Market Size and Forecast, by End User (2023-2030)
8.3.1.    Army
8.3.2.    Navy
8.3.3.    Air Force 

8.4. Middle East and Africa Hypersonic Weapons Market Size and Forecast, by Country (2023-2030)
8.4.1.    South Africa
8.4.2.    GCC
8.4.3.    Egypt
8.4.4.    Nigeria
8.4.5.    Rest of ME&A

9.    South America Hypersonic Weapons Market Size and Forecast (by Value in USD Million)
9.1. South America Hypersonic Weapons Market Size and Forecast, by Type(2023-2030)
9.1.1.    Hypersonic Glide Missiles
9.1.2.    Hypersonic Cruise Missiles
9.1.3.    Hypersonic Spaceplanes

9.2. South America Hypersonic Weapons Market Size and Forecast, by Range (2023-2030)
9.2.1.    Short Range
9.2.2.    Medium Range
9.2.3.    Long Range 

9.3. South America Hypersonic Weapons Market Size and Forecast, by End User (2023-2030)
9.3.1.    Army
9.3.2.    Navy
9.3.3.    Air Force 

9.4. South America Hypersonic Weapons Market Size and Forecast, by Country (2023-2030)
9.4.1.    Brazil
9.4.2.    Argentina
9.4.3.    Rest of South America

10.    Company Profile: Key players
10.1. Lockheed Martin Corporation
10.1.1.    Company Overview
10.1.2.    Financial Overview
10.1.3.    Business Portfolio
10.1.4.    SWOT Analysis
10.1.5.    Business Strategy 
10.1.6.    Recent Developments

10.2. Raytheon Technologies Corporation
10.3. Northrop Grumann Corporation
10.4. L3Harris Technologies Inc.
10.5. Leidos
10.6. Thales Group
10.7. General Dynamics Corporation
10.8. Israel Aerospace Industries
10.9. Bae Systems
10.10. The Boeing Company
10.11. Kongsberg Gruppen AS
10.12. Israel Aerospace Industries
10.13. Northrop Grumman Corporation
10.14. MBDA
10.15. DRDO
10.16. Ariane Group
10.17. Dassault Aviation (France)
10.18. Serco Group plc (UK)
10.19. Huntington Ingalls Industries, Inc. (USA)
10.20. QinetiQ Group plc (UK)
10.21. XXX Inc.
11.    Key Findings
12.    Industry Recommendation

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