Hypersonic Missiles Market by Product and Geography - Forecast and Analysis 2020-2024

The hypersonic missiles market share is expected to increase by USD 1.01 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 3.72%.

This hypersonic missile market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the hypersonic missile market segmentation by product (hypersonic ballistic missiles and hypersonic cruise missiles) and geography (Europe, North America, APAC, South America, and MEA). The hypersonic missiles market report also offers information on several market vendors, including Aerojet Rocketdyne Holdings Inc., The Boeing Co., Brahmos Aerospace Pvt. Ltd., Denel Dynamics, General Dynamics Corp., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Co., Saab SA, and Thales Group among others.

What will the Hypersonic Missiles Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Hypersonic Missiles Market Size for the Forecast Period and Other Important Statistics

 

Hypersonic Missiles Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post COVID-19 era. The need for improved missiles is notably driving the hypersonic missiles market growth, although factors such as ambiguities with hypersonic missiles may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hypersonic missiles industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Hypersonic Missiles Market Driver

One of the key factors driving the hypersonic missiles market is the Need for improved missiles. The deployment of a particular type of missile or a weapon eventually leads to the development of its counteractants. For example, India has been developing variants of the supersonic missile, BrahMos, which is a short-range ramjet supersonic cruise missile. However, as a countermeasure, the US and Raytheon developed the Standard Missiles-6 (SM-6). These systems were deployed on the destroyers and cruisers of the US Navy to intercept any kind of supersonic missiles. Also, the time taken by the missile to hit its target plays a very important role. For instance, in 1998, the US government tried to neutralize Osama bin Laden in his Al-Qaeda training camp in eastern Afghanistan by launching the Tomahawk land-attack subsonic cruise missiles from the Arabian Sea. However, the missiles traveling at about 550 mph needed two hours to reach their target, which gave him enough time to escape from his hideout. Such failures have stimulated the need to develop faster systems capable of striking at greater speeds. Both the above-mentioned factors have indirectly contributed to the development of highly advanced systems.

Key Hypersonic Missiles Market Trend

The emergence of scramjet technology is another factor supporting the hypersonic missiles market growth in the forecast period. The major propulsion systems currently used in rockets and missiles are turbofans, turbojets, and ramjets. Furthermore, it plays a critical role in determining the range, payload, and speed of a missile.  Moreover, supersonic systems, which travel at the speed of Mach 2-4, run on the ramjets technology. However, in recent years, there is an increasing need for rockets with higher speeds. This has led to the development of a new propulsion system called scramjet, or Supersonic Combustion Ramjet. Furthermore, many nations are using scramjet technology for the development of hypersonic missiles, mainly because it draws the external oxygen necessary for the engine combustion and passes it through the vehicle. This eliminates the need to have an onboard tank, thereby making the missiles and aircraft smaller, lighter, and faster. Furthermore, the Indian Space Research Organization (ISRO) has been working on the development of scramjet technology to eventually cut the space agency's launch costs by half for its upcoming Avatar program. Such ongoing developments are expected to invariably lead to knowledge transfer for the development of hypersonic missiles.

Key Hypersonic Missiles Market Challenge

Ambiguities with hypersonic missiles will be a major challenge for the hypersonic missiles market during the forecast period. The development of hypersonic missiles is clouded with several concerns. Most of it refers to whether a conventional or nuclear warhead is being used. Hypersonic missiles, when fitted with nuclear warheads, can be fatal to the target enemy country. It can also cause nuclear winter that could last for a very long time after the initial attack and eventually leave the area inhabitable. Another ambiguity lies with respect to the target. Nations like the US, Russia, and China are at the forefront of developing super-fast hypersonic missiles. This has made several other countries remain apprehensive that the nations developing these missiles might launch nuclear attacks. Furthermore, another major operational concern of hypersonic boost-glided missiles is related to their predictability. A boost-glide hypersonic missile is not predictable like a ballistic missile, which can project the entire flight path. As these missiles maneuver mid-course, their flight path prediction is not possible. This scenario creates destination ambiguity, where a non-target country may be misinterpreted as the destination of a fired missile. Such ambiguities will always exist, and the development of advanced systems will be an ongoing process.

This hypersonic missile market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global hypersonic missiles market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hypersonic missiles market during the forecast period.

Who are the Major Hypersonic Missiles Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aerojet Rocketdyne Holdings Inc.
• The Boeing Co.
• Brahmos Aerospace Pvt. Ltd. 
• Denel Dynamics
• General Dynamics Corp.
• Lockheed Martin Corp.
• Northrop Grumman Corp.
• Raytheon Co.
• Saab SA
• Thales Group

 

This statistical study of the hypersonic missile market encompasses successful business strategies deployed by the key vendors. The hypersonic missile market is fragmented and the vendors are deploying growth strategies such as price, product reliability, and ROI to compete in the market.

Product Insights and News

• Aerojet Rocketdyne Holdings Inc. - The company offers air to air and land-based hypersonic missile system.
• The Boeing Co. - The company offers multi-layered, multi-domain hypersonic missiles.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hypersonic missiles market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Hypersonic Missiles Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the hypersonic missiles market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global aerospace and defense market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

 

Which are the Key Regions for Hypersonic Missiles Market?

For more insights on the market share of various regions Request a FREE sample now!

50% of the market's growth will originate from North America during the forecast period. The US is the key market for the hypersonic missiles market in North America. Market growth in this region will be faster than the growth of the market in other regions.

Increasing conflicts between neighboring countries and the growing need to suppress various militant groups in several parts of the globe will facilitate the hypersonic missile market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The hypersonic missile market in North America has been impacted by certain challenges due to the COVID-19 pandemic. The US is the most affected country in the region. Some of the vendors operating in the region have witnessed a decline in revenue due to the pandemic. For instance, in July 2020, General Dynamics Mission Systems announced that it had observed a decline in revenue in the first half of 2020 when compared with the first half of 2019. However, some of the countries in the region have been focusing on developing new missile systems. For instance, in November 2020, the US Department of Defense announced that it had developed a new ship-launched missile system or vertical launching system (VLS) to intercept North Korean intercontinental ballistic missile (ICBM). Such developments will influence the demand for the focused market in the region during the forecast period.

What are the Revenue-generating Product Segments in the Hypersonic Missiles Market?

To gain further insights on the market contribution of various segments Request a FREE sample

The hypersonic missile market share grows by the segments. Hypersonic ballistics missiles segment will be significant during the forecast period. Hypersonic ballistic missiles travel at a speed of Mach five and above and take a ballistic trajectory flight path for most of their distance. Ballistic missiles are short-, medium-, and long-range rocket-propelled vehicles that deliver nuclear or conventional weapons.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hypersonic missiles market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Hypersonic Missiles Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 3.72%
Market growth 2020-2024	$ 1.01 billion
Market structure	Fragmented
YoY growth (%)	2.99
Regional analysis	Europe, North America, APAC, South America, and MEA
Performing market contribution	North America at 50%
Key consumer countries	US, Russian Federation, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aerojet Rocketdyne Holdings Inc., The Boeing Co., Brahmos Aerospace Pvt. Ltd. , Denel Dynamics, General Dynamics Corp., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Co., Saab SA, and Thales Group
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Hypersonic Missiles Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive hypersonic missiles market growth during the next five years
• Precise estimation of the hypersonic missiles market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the hypersonic missiles industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hypersonic missiles market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch