Increasing geopolitical conflict and rising government expenditure in state-of-art defence technologies are some key factors driving market revenue growth

VANCOUVER, BC, CANADA, August 22, 2022 /EINPresswire.com/ -- The Global Hypersonic Technology Market size reached USD 6.30 billion in 2020 and is expected to register a revenue CAGR of 9.9% during the forecast period, according to latest analysis by Emergen Research. Increase in geopolitical conflict over the years has resulted in an arms race and countries ramping up military and defense capabilities. The recent withdrawal of the US and Russia from the Intermediate-Range Nuclear Force Treaty (INF Treaty), which bans development of intermediate range missiles, and increasing actions by China in Asia Pacific has resulted in countries increasing defense expenditure. Increasing focus on new and more advanced technologies in various developed countries to strengthen defense capabilities and develop weapons of higher precision and better capabilities is a trend in the market. Hypersonic missiles that has been developed and tested by the US, Russia, and China can attack multiple targets and with higher precision than conventional missiles, and can also carry nuclear warhead. These are some of the key factors driving need among other countries to have similar or more advanced capabilities, which is driving growth of the global hypersonic technology market.

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However, slow development in the field on advanced materials is major factor hampering growth of the global hypersonic technology market. Hypersonic missiles are exposed to high temperature and stress due to high speed and therefore it is imperative to develop materials that can withstand under such conditions in order to improve effectiveness and precision of missiles.

Leading Companies of the Hypersonic Technology Industry and Profiled in the Report are:

BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, The Boeing Company, Reaction Engines Limited, MBDA Missile Systems, Hermeus Corporation, Velontra LLC, and Dynetics Inc.

Some Key Highlights from the Report

Hypersonic glide vehicle segment revenue is expected to expand at a substantially rapid CAGR during the forecast period due to higher preference owing to cost-effectiveness and capability of delivering multiple warheads with better precision.

Military segment is expected to register a significantly robust revenue growth rate over the forecast period as a result of increasing geopolitical conflicts and developed countries fortifying defense capabilities with more to advanced military weapons.

North America is expected to register a considerably robust revenue growth rate among other regional markets in the global hypersonic technology market over the forecast period. This can be attributed to robust presence of companies engaged in developments in hypersonic technologies such as BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation, among others in countries in the region.

In February 2021, BAE Systems plc announced investment of an additionally USD 5 million under Project Javelin, which is aimed at designing and developing hypersonic technologies in Australia.

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Emergen Research has segmented global hypersonic technology market on the basis of launch mode, range, type, end-use, and region:

Launch Mode Outlook (Revenue, USD Billion; 2018–2028)

Air Launch

Surface Launch

Sea Launch

Submarine Launch

Range Outlook (Revenue, USD Billion; 2018–2028)

Short Range

Medium Range

Intermediate Range

Intercontinental Range

Type Outlook (Revenue, USD Billion; 2018–2028)

Missiles

Hypersonic Ballistic Missiles

Hypersonic Cruise Missiles

Hypersonic Glide Vehicle

Hypersonic Spaceplanes

End use Outlook (Revenue, USD Billion; 2018–2028)

Military

Air Force

Navy

Space

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Regional Outlook (Revenue, USD Billion; 2018–2028)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Turkey

Rest of MEA

Radical Features of the Hypersonic Technology Market Report:

The report encompasses Hypersonic Technology market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements

An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently

Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies

Supply chain analysis along with technological advancements offered in the report

The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Hypersonic Technology industry

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About Emergen Research

At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Emergen Research
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