Market Size and Overview:

The Global Hypersonic Weapons/Missiles Market was valued at USD 118.52 billion and is projected to reach a market size of USD 175.87 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 5.8 %. 

The sector encompassing hypersonic weapons and missiles involves advanced weaponry and projectiles capable of surpassing Mach 5 (five times the speed of sound). These armaments have experienced escalating demand in recent times, driven by their ability to deliver precise strikes within minutes, enabling swift responses to various situations. The necessity for hypersonic weapons has emerged from governments' imperative to safeguard themselves against hypothetical assaults from adversary nations. Furthermore, the appeal of hypersonic missiles lies in their capability to evade existing air defense systems, garnering interest from military organizations worldwide. The market is also stimulated by the increasing demand for rapid global strike capabilities and a growing interest in space-oriented activities.

The future foresees an expansion of the hypersonic weapons market as more nations strive to develop this state-of-the-art technology. Anticipated growth is expected to be propelled by the rising need for swift global strike capabilities and the escalating adoption of space-related technologies. The market is predicted to benefit from the growing demand for enhanced air defense systems, as countries endeavor to shield themselves against the threat posed by hypersonic missiles. However, challenges persist in the market, with concerns arising about the potential proliferation of these weapons as more nations acquire the capacity to manufacture them.

Global Hypersonic Weapons/Missiles Market Drivers:

Escalating Demand for Swift Global Strike Capabilities Propels Global Market Growth

One of the primary drivers of the hypersonic weapons and missiles market is the increasing demand for rapid global strike capabilities. The market thrives on the attractiveness of hypersonic weapons to military entities worldwide, given their ability to execute precise strikes swiftly. These missiles prove invaluable in conflict scenarios, thanks to their capability to bypass existing air defense systems and reach targets efficiently. The demand stems from the imperative for nations to respond promptly to potential threats, safeguarding their global interests.

Growing Interest in Space-Based Systems Drives Market Demand

The burgeoning interest in space-based technologies is anticipated to fuel the demand for hypersonic weapons. With the expansion of communication and navigation satellites, payload deliveries to low Earth orbit, and exploration missions to the moon and other celestial bodies, the utility of these weapons becomes evident. As space assumes greater significance for military, commercial, and scientific pursuits, the development of hypersonic weapons may catalyze innovation and financial investments in related technologies like propulsion and guidance systems.

Augmented Demand for Advanced Air Defense Systems Boosts Missile Market Growth

The threat posed by hypersonic missiles has spurred the demand for advanced air defense systems. Given their ability to evade existing air defense mechanisms, hypersonic weapons hold significant value for military organizations globally. Nations are investing in sophisticated air defense systems capable of detecting and intercepting hypersonic weapons to counter this threat. The driving forces behind this demand include the protection of critical infrastructure, national security, and the imperative to repel potential attacks from other nations.

Global Hypersonic Weapons/Missiles Market Challenges:

The market for hypersonic weapons and missiles grapples with several obstacles, prominently the high cost of development. Substantial research and development expenditures, along with the establishment of specialized manufacturing facilities and production techniques, are imperative for hypersonic weapons' creation. This elevated cost inhibits the entry of smaller nations and enterprises into the market, diminishing competition and innovation. Additionally, the scarcity of knowledge and expertise required for hypersonic weapons production further complicates the rapid and affordable deployment of these weapons, exacerbating the developmental challenges.

Global Hypersonic Weapons/Missiles Market Opportunities:

The heightened emphasis on space-related technologies presents a significant market opportunity for hypersonic weapons and missiles. As space assumes a pivotal role in military, commercial, and scientific pursuits, the demand for hypersonic weapons capable of launching payloads into space is expected to rise. Corporations and nations have the chance to develop cutting-edge satellites for communication, navigation, and celestial exploration. This surge in technology development is projected to spur investment in associated disciplines like propulsion and guidance systems, fostering the growth of the hypersonic weapons and missiles market.

Global Hypersonic Weapons/Missiles Market - By Product:

• Hypersonic Glide Vehicle
• Hypersonic Cruise Missile

The global market for hypersonic weapons/missiles is categorized into Hypersonic Glide Vehicles (HGVs) and Hypersonic Cruise Missiles (HCMs). HGVs, characterized by high speeds and the ability to operate above Earth's atmosphere, hold strategic importance in conflict scenarios, enabling them to re-enter and deliver payloads while evading existing air defense systems. Conversely, HCMs, functioning as air-breathing systems, can navigate at high speeds, delivering precise hits within minutes while bypassing current air defense systems. The escalating demand for rapid global strikes is expected to allocate a significant market share to HGVs. Simultaneously, HCMs are poised for substantial demand due to their adaptability and precision capabilities. The increasing need for enhanced military capabilities and defense against potential threats from rival nations is anticipated to propel the market growth for both HGVs and HCMs in the coming years.

Global Hypersonic Weapons/Missiles Market - By Application:

• Wire Guidance
• Command Guidance
• Terrain Comparison Guidance
• Inertial Guidance
• Beam Rider Guidance
• Radio Frequency
• GPS Reference
• Laser Guidance

The hypersonic weapons and missiles market is diversified based on various guidance systems, including laser guidance, inertial guidance, radio frequency guidance, command guidance, terrain comparison guidance, wire guidance, inertial guidance with terrain comparison, and GPS reference. Inertial Guidance systems are expected to hold a substantial market share due to their precision and reliability. Meanwhile, GPS Reference systems are projected to experience significant growth owing to their accessibility and user-friendly nature. The demand for more sophisticated military capabilities and protection against potential threats is likely to drive increased demand for other guidance systems such as terrain comparison guidance, wire guidance, and command guidance in the future. Command Guidance relies on signals from ground-based control systems, while Wire Guidance transmits information through a physical wire. Beam Rider Guidance uses microwave or laser beams, Terrain Comparison Guidance utilizes topographic data, Radio Frequency employs radio wave signals, and Laser Guidance employs laser beams.

Global Hypersonic Weapons/Missiles Market - By End-User:

• Military
• Civil

The military end-user sector is expected to dominate the global market for hypersonic weapons and missiles, driven by the pursuit of cutting-edge military capabilities and defense against emerging threats. The significance of hypersonic weapons in modern warfare, with their ability to surpass air defense systems and travel at high speeds, is anticipated to result in increased demand from governments aiming to protect their national interests globally and respond rapidly to potential threats. While the demand from the civil end-user market is projected to be relatively low, it could experience growth if new commercial or scientific applications, such as satellite launches or hypersonic air transport, become available.

Global Hypersonic Weapons/Missiles Market - By Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

The global market for hypersonic weapons and missiles is expected to be dominated by North America and Europe, given their powerful militaries and the imperative for cutting-edge military capabilities to counter potential threats. The Asia Pacific region is anticipated to witness significant market growth due to rapidly expanding economies and escalating national security concerns. The Middle East is expected to experience moderate demand, driven by the presence of powerful militaries and a focus on national security. While the Latin American region may currently have limited demand for these systems, future growth is plausible as countries in the region strengthen their militaries and enhance national security measures.

Global Hypersonic Weapons/Missiles Market Key Players:

• The Boeing Company
• Kongsberg Gruppen AS
• Raytheon Technologies Corporation
• Israel Aerospace Industries
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• MBDA
• DRDO
• Tactical Missiles Corporation
• ArianeGroup

COVID-19 Impact on Global Hypersonic Weapons/Missiles Market:

The COVID-19 pandemic has exerted both positive and negative influences on the global market for hypersonic weapons and missiles. On the positive side, nations, recognizing the need to protect their vital infrastructure and national security in an uncertain and rapidly changing world, have increased their military expenditures. This heightened awareness of the significance of these systems during times of conflict has led to an augmented demand for hypersonic weapons. Conversely, the pandemic has posed challenges to the research and manufacturing of hypersonic weapons, disrupting the supply chain.

Global Hypersonic Weapons/Missiles Market Recent Developments:

• In January 2023, NASA and Northrop Grumman collaborated on the creation and testing of solutions for integrating large, unmanned aircraft systems into the National Airspace System (NAS). As part of the ATM-X Pathfinding for Airspace with Autonomous Vehicles (PAAV) subproject, the initiative focuses on air cargo operations, ensuring the safe, effective, and reliable operation of large UAS in the NAS.
• In October 2021, Lockheed Martin delivered the ground system for the Long Range Hypersonic Weapon to the U.S. Army, enabling rapid development and deployment of long-range precision fires.
• In September 2022, Raytheon Missiles & Defence and Northrop Grumman, under contract to the US Air Force, are jointly developing the Hypersonic Attack Cruise Missile (HACM). This collaboration, part of the US and Australia's SCIFiRE project, aims to create a novel weapon. The HACM, an air-breathing missile capable of hypersonic flight, represents a significant advancement in military capabilities.