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

VANCOUVER, BC, CANADA, January 31, 2023 /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.

To access the full coverage of the global Hypersonic Technology market report, visit @ https://www.emergenresearch.com/industry-report/hypersonic-technology-market

In addition, the researchers have closely studied the remarkable market changes that followed the coronavirus outbreak. This is the newest report examining the current economic situation of the Hypersonic Technology industry following the pandemic. The COVID-19 pandemic has altered various aspects of the global Hypersonic Technology market scenario by far. The latest report offers an extensive COVID-19 impact analysis of the market to help readers gain knowledge of the significant effects of the outbreak on the present and future scenario of this business space.

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.

Major companies included in the market 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.
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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