From GlobeNewswire: 2024-05-17 14:00:00

The global hypersonic weapons market is set to grow from USD 8.6 billion in 2023 to USD 19.1 billion by 2033, with a CAGR of 8.31%. Powerful nations like the US, China, and Russia are investing heavily in hypersonic technology for anti-ship combat and precision strikes. Concerns about arms control and strategic stability are being addressed at international conferences. The market value chain involves research, development, production, testing, and deployment of hypersonic weapon systems.

Hypersonic missiles are dominating the market from 2023 to 2033 due to their speed and precision in various military operations. Countries are modernizing their armed forces to maintain a strategic advantage, driving the demand for hypersonic missiles. The land domain segment is leading the market, as countries invest in land-based military systems for efficient and accurate targeting. Multi-medium hypersonic weapons offer operational flexibility in air, ocean, and land environments, enhancing integrated strike capabilities.

North America is expected to lead the hypersonic weapons market, given its expertise in propulsion systems and aeronautical engineering. The region’s defense contractors are keen on developing advanced hypersonic systems tailored to military needs. Asia-Pacific is experiencing rapid market growth due to rising security concerns and geopolitical tensions. Countries like China and Russia are investing in hypersonic technologies, contributing to an arms race dynamics. Key players in the market include Lockheed Martin, Boeing, and Northrop Grumman.

Recent developments in the market show that hypersonic missiles can be more cost-effective in the long run compared to intermediate ballistic missiles. The market is segmented by type, domain (land, naval, airborne), range (short-range, multi-medium-range, long-range), and region. The global hypersonic weapons market is witnessing significant advancements and competition among key players in the field.



Read more at GlobeNewswire: Global Hypersonic Weapons Market Size To Worth USD 19.1