Overview and Scope
Supersonic jets refer to supersonic aircraft powered by jet engines and travelling at speeds higher than the speed of sound. Supersonic jets typically travel at speeds greater than 750 mph but less than 1500 mph. The supersonic jet are used for transporting passengers or military applications.
Sizing and Forecast
The supersonic jet market size has grown strongly in recent years. It will grow from <b>$25.93 billion in 2023 to $27.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. </b> The growth in the historic period can be attributed to cold war military development, military supersonic aircraft, technical expertise, market competitiveness, soviet concorde rivalry.
The supersonic jet market size is expected to see strong growth in the next few years. It will grow to <b>$36.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. </b> The growth in the forecast period can be attributed to environmental sustainability, market expansion, economic growth, sustainable fuel alternatives, supersonic cargo transport.. Major trends in the forecast period include sonic boom mitigation, supersonic business jets, digital passenger experience, supersonic regional travel, use of artificial intelligence.
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Segmentation & Regional Insights
The supersonic jet market covered in this report is segmented –
1) By Type Outlook: Light Jet, Mid-Size Jet, Large Jet
2) By Speed Range: 1 Mach – 2 Mach, 2 Mach – 3 Mach
3) By System Analysis: Airframe, Engine, Avionics, Landing Gear System, Weapon System
4) By Platform: Commercial Aircraft, Military Aircraft
<b>North America</b> was the largest region in the supersonic jet market sharein 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the supersonic jet market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in air passenger traffic is expected to propel the growth of the supersonic jet market going forward. The growing middle class and the emergence of low-cost carriers that offer competitive fares to popular destinations are stimulating growth in air passenger traffic. As a result, rising air passenger traffic drives up demand for supersonic aircraft. For instance, according to the International Air Transport Association (IATA), a Canada-based trade association of the world’s airlines, overall air traveler numbers are to reach 4.0 billion in 2024, exceeding pre-COVID-19 levels by 103% of the 2019 total. Therefore, the rise in air passenger traffic is driving the supersonic jet market.
Key Industry Players
Major companies operating in the supersonic jet market include <b> Boom Technology Inc., Lockheed Martin Corporation, Airbus SAS, Aerion Corporation, Boeing Airplane & Transport Corporation, Spike Aerospace Inc., TsAGI, Hypermach Europe Aeronautics Ltd., Dassault Aviation Inc., Tupolev PJSC, BAE Systems, Saab AB, Hindustan Aeronautics Limited, United Aircraft Corporation, Aviation Industry Corporation of China, Gulfstream Aerospace Corp., Exosonic Inc., Reaction Engines Ltd., Northrop Grumman, Hermeus Corp., Embraer SA, The JSC Sukhoi Company, Aérospatiale Group, Mitsubishi Heavy Industries Ltd., Kawasaki Heavy Industries Ltd., Blue Origin LLC, Virgin Galactic Holdings Inc., HyperSciences Inc., SpaceWorks Enterprises Inc., Orion Span Inc. </b>
The supersonic jet market report table of contents includes:
1. Executive Summary
2. Supersonic Jet Market Characteristics
3. Supersonic Jet Market Trends And Strategies
4. Supersonic Jet Market – Macro Economic Scenario
5. Global Supersonic Jet Market Size and Growth
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26. South America Supersonic Jet Market
27. Brazil Supersonic Jet Market
28. Middle East Supersonic Jet Market
29. Africa Supersonic Jet Market
30. Supersonic Jet Market Competitive Landscape And Company Profiles
Top Major Players:
- Boom Technology Inc.
- Lockheed Martin Corporation
- Airbus SAS
- Aerion Corporation
- Boeing Airplane & Transport Corporation
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