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LANDON, GREATER LANDON, UNITED KINGDOM, November 11, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The hypersonic missiles market has experienced significant growth in recent years, projected to rise from $122.72 billion in 2023 to $135.4 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.3%. This growth during the historical period can be linked to military modernization initiatives, geopolitical tensions and arms races, the need for strategic deterrence and national security, heightened threat perceptions, and increasing defense budgets.
How Much Will the Global Hypersonic Missiles Market Grow, and What Is the Predicted Annual Growth Rate?
The hypersonic missiles market is projected to experience robust growth over the next few years, expected to reach $193.88 billion by 2028 with a compound annual growth rate (CAGR) of 9.4%. Factors driving this growth during the forecast period include a heightened emphasis on both offensive and defensive capabilities, the formation of global military alliances and collaborations, rising demand for precision strike capabilities, a focus on scalability and affordability, and the integration of multi-domain operations.
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What Are The Top Drivers Contributing To The Growth Of The Hypersonic Missiles Market?
The rise in initiatives and funding from governments and defense forces is fueling the growth of the hypersonic missiles market. Governments and defense sectors have begun investing in research within the hypersonic domain to enhance their military capabilities.
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Which Companies Are Leading Growth in the Hypersonic Missiles Market?
Key players in the hypersonic missiles market include Raytheon Technologies, Boeing Company, Lockheed Martin Corp., Hanwha Corporation, China Aerospace Science and Industry Corporation, General Dynamics Corporation, Northrop Grumman, Mitsubishi Heavy Industries Ltd., Rostec State Corporation, BAE Systems plc, Safran S.A., Thales Group, L3Harris Technologies Inc., Leidos, Israel Aerospace Industries Ltd., Saab AB, Rafael Advanced Defense Systems Ltd., Bharat Dynamics Limited, Aerojet Rocketdyne Holdings Inc., Avio S.p.A., Blue Origin LLC
What Are the Key Trends Defining the Hypersonic Missiles Market Size?
Leading countries around the globe are intensifying their efforts to establish long-range hypersonic programs in order to secure a competitive advantage in the market. Long-Range Hypersonic Programs involve military or aerospace projects dedicated to the development, research, and deployment of hypersonic missile systems designed for extended operational ranges.
What Are The Key Segments Of The Global Hypersonic Missiles Market?
1) By Product: Hypersonic Glide Vehicle, Hypersonic Cruise Missile
2) By Application: Wire Guidance, Command Guidance, Terrain Comparison Guidance, Terrestrial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, Radio Frequency (RF) And GPS Reference
3) By End-Users: Military, Civil
Geographical Highlights: North America Leading Hypersonic Missiles Market
North America was the largest region in the market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The Hypersonic Missiles Market Overview?
Hypersonic missiles are defined as missiles that utilize high-speed, air-breathing engines, known as scramjets. These missiles can travel at speeds five times greater than the speed of sound, approximately 1 mile per second, and can exceed speeds of 7,672 miles per hour.
The Hypersonic Missiles Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Hypersonic Missiles Market Report: Trends, Opportunities, Strategies, and More
The Hypersonic Missiles Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into hypersonic missiles market size, hypersonic missiles market drivers and trends, hypersonic missiles competitors' revenues, and hypersonic missiles market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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