Hypersonic Missiles Market Technological Challenges, Market Update, Volume Analysis, Growth Prospects And Forecast 2023-2032|Lockheed Martin, Raytheon Technologies, Northrop Grumman, Boeing, Saab AB

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The Hypersonic Missiles Global Market Report 2023 by The Business Research Company, provides hypersonic missiles market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Hypersonic Missiles Global Market Report 2023, the market size is expected to grow from$112.02 million in 2022 to $125.04 million in 2023, at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the hypersonic missiles market is expected to grow to $181.87 million in 2027 at a CAGR of 9.8%.

The increase in initiatives and funding from the governments and defense forces is contributing to the growth of the hypersonic missiles market. Governments and defense sectors started funding the research on the hypersonic area to strengthen the forces.

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The hypersonic missiles market is segmented:

1) By Product: Hypersonic Glide Vehicle, Hypersonic Crusie Missile

2) By Application: Wire Guidance, Command Guidance, Terrain Comparision Guidance, Terrestial Guidance, Inertial Guidance, Beam Rider Guidance, Laser Guidance, Radio Frequencey (RF) And GPS Reference

3) By End-Users: Military, Civil

he development of new hypersonic cruise missiles is a key trend gaining popularity in the hypersonic missiles market. Major companies operating in the hypersonic missiles sector are focused on developing hypersonic missiles to strengthen their position. For example, Boeing, Lockheed Martin, and Raytheon announced plans in August 2020 to develop a new solid-rocket air-breathing hypersonic standard cruise missile for launch from current fighter-bomber aircraft. According to Air Force authorities, these businesses are the only reliable sources of hypersonic cruise missiles. Hypersonic weapons move at speeds ranging from Mach 5 to Mach 10 — or 3,840 to 7,680 miles per hour.

The hypersonic missiles market report table of contents includes: