Hypersonic Missiles Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Range, End User and Launch Platform : Global Opportunity Analysis and Industry Forecast, 2023 - 2032

Hypersonic Missiles Market Statistics: 2032

The global hypersonic missiles market was valued at $6,328.3million in 2022, and is projected to reach $18,005.7million by 2032, growing at a CAGR of 11.3% from 2023 to 2032.

A hypersonic missile is a type of weapon designed to travel at speeds exceeding five times the speed of sound that spends most of its flight within the earth's atmosphere. These missiles are engineered for maneuverability and rapid target engagement, with the capability to strike distant targets within a short timeframe, typically ranging from 15 to 30 minutes, over distances spanning thousands of kilometers. Hypersonic missiles are highly maneuverable, capable of making rapid changes in direction and altitude during flight. This agility makes it difficult to track and intercept, increasing its survivability and effectiveness against enemy defenses.

Key Takeaways

• On the basis of type, the hypersonic cruise missile segment held the largest share in the ground support equipment market in 2022.
• On the basis of range, the short range segment held the largest share in the ground support equipment market in 2022.
• By end user, the air force segment held the largest share in the market in 2022.
• On the basis of launch platform, the air launch segment held the largest market share in 2022.
• On the basis of region, North America held the largest market share in 2022.

In recent years, the global landscape of military technology has witnessed a notable surge in interest and investment toward the development and deployment of hypersonic systems. This burgeoning enthusiasm stems from the advances made by countries such as Russia and China, both of which have demonstrated substantial progress in their hypersonic weapons programs. These hypersonic systems, including hypersonic boost-glide vehicles (HGVs) and hypersonic cruise missiles (HCMs), represent a paradigm shift in military capabilities, offering unprecedented speed, maneuverability, and precision in strategic and tactical operations.

The deployment of hypersonic missiles has already been demonstrated in conflicts such as Russia's use of the Kinzhal missile, a dual-capable hypersonic weapon, in conventional mode against Ukraine. This deployment highlights the evolving nature of warfare and the strategic significance of hypersonic capabilities. The hypersonic missiles market analysis reveals a growing demand for next-generation hypersonic weapons, driven by geopolitical tensions and the need for advanced defense capabilities. Moreover, the growing interest from military entities, including the Pentagon and Congress in the U.S., in pursuing hypersonic systems reflects a surge in demand for these advanced weapons. As nations seek to enhance their military capabilities and maintain strategic superiority, the demand for hypersonic missiles and associated technologies is expected to rise which is expected to propel the hypersonic missiles market growth.

The hypersonic missiles market forecast anticipates a surge in demand for precision-strike capabilities, as nations seek to enhance their military readiness and deter potential adversaries. Moreover, the development of advanced hypersonic weapons for defense forces is notably contributing toward the growth of the global hypersonic missiles market. For instance, in February 2023, Lockheed Martin Corp secured a significant contract from the U.S. Navy, potentially valued at $2 billion, to equip the Navy's Zumwalt-class destroyers with hypersonic missile systems. Steve Layne, vice president of Hypersonic Strike Weapon Systems at Lockheed Martin, emphasizes the company's commitment to advancing hypersonic strike capability for the U.S. through this contract.

In addition, defense contractors and companies engage in significant innovation in the development of hypersonic missiles. For instance, in January 2023, Kratos Defense & Security Solutions, Inc. announced that its Defense & Rocket System Services (DRSS) Division, along with Kratos’ Unmanned Systems Division received a contract by Leidos to support the Expendable Hypersonic Multi-Mission ISR (Intelligence, Surveillance, and Reconnaissance) and Strike Program, known as Mayhem.

The growth of the global hypersonic missiles market is majorly driven by rise in cross-border conflicts and geopolitical tensions, developments in hypersonic technologies, and increase in defense budget. However, technological challenges and high costs hinder the growth of the market. On the contrary, advancements in scramjet technology for hypersonic missiles and military modernization are anticipated to offer remunerative opportunities for the players operating in the hypersonic missiles market during the forecast period.

Segment Review

The global hypersonic missile industry is segmented into type, range, end user, launch platform, and region. By type, the market is divided into hypersonic boost glide missile, hypersonic cruise missile, and hypersonic ballistic missile. On the basis of range, it is classified into short range, medium range, and long range. Depending on the end user, it is fragmented into army, navy, and air force. As per launch platform, it is fragmented into ground launch, air launch, and sea launch. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and MEA.

By Type

On the basis of type, the hypersonic cruise missile segment generated maximum revenue in 2022, owing to an increase in defense budgets in various countries provide the financial resources necessary for research, development, and deployment of hypersonic missile systems. The proliferation of hypersonic missile technology is expected to increase as more countries acquire the capability to develop and deploy such weapons, leading to a more complex and contested strategic environment. For instance, in 2022, Raytheon, defense contractor and manufacturer of hypersonic technologies, secured a contract worth $1 billion from U.S. Air Force to develop Hypersonic Attack Cruise Missile (HACM). Key players in the defense industry are adapting their strategies based on hypersonic missiles market trends to maintain a competitive edge. The companies are focused to increase the hypersonic missiles market share with the advancement of design and efficiency of scramjet engines used to power the hypersonic cruise missile.

By Range

On the basis of type, the short range segment generated maximum revenue in 2022, owing to the rise in use of the short range hypersonic missiles for tactical use, where the targets are located within relatively close proximity to the launch platform. Some aerospace and defense companies have started the development of hypersonic missiles with short range. For instance, Brahmos Aerospace, joint venture between Defence Research & Development Organisation (DRDO) of India and Military Industry Consortium NPO Mashinostroyeniya of Russia, is working on the development of BrahMos-II, a hypersonic cruise missile, which is expected to have a range of 600 km.

By End User

On the basis of end user, the air force segment generated maximum revenue in 2022, as hypersonic missiles enable air forces to rapidly strike high-value targets, including enemy aircraft, ships, or strategic installations, with precision and minimal reaction time. Defense forces and research laboratory related to air force intend to focus on driving down costs associated with the production of hypersonic weapons currently under development at its facilities. For instance, in December 2022, Northrop Grumman secured a contract from the U.S. Air Force Research Laboratory (AFRL) aimed at enhancing its manufacturing capabilities and improving affordability in the production of hypersonic weapons. This contract, funded through AFRL’s Manufacturing and Industrial Technology Division, is valued at approximately $8.8 million.

By Launch Platform

On the basis of end user, the air launch segment generated maximum revenue in 2022, owing to the surge in adoption of air launch platforms to rapidly deploy hypersonic missiles, enabling swift and agile responses to emerging threats or strategic targets. Air launch platforms operate from diverse locations, encompassing airbases, aircraft carriers, or forward operating sites, enhancing deployment agility and adaptability to evolving tactical contexts. AGM-183A Air-launched Rapid Response Weapon (ARRW) is a hypersonic missile designed to be launched from aircraft such as bombers. It is intended for rapid strike missions against high-priority targets. Moreover, jointly developed by India and Russia, the BrahMos-II is a hypersonic cruise missile that can be air-launched from various aircraft, including fighters and bombers.

By Region

Based on region, North America dominated the hypersonic missiles market in 2022. Since the early 2000s, the U.S. has been actively engaged in the development of hypersonic weapons, which are maneuverable projectiles capable of flying at speeds exceeding Mach 5. The headquarters of U.S. Department of Defense (DOD), Pentagon requested budget for hypersonic research in FY2023 amounted to $4.7 billion, which represented an increase from the $3.8 billion requested in FY2022. Moreover, the Missile Defense Agency (MDA) requested $190.6 million for hypersonic defense in FY2024, marking a decrease from its $225.5 million request in FY2023.

This funding is dedicated to developing defensive measures against hypersonic threats. In addition, the defense forces of the country have been actively providing contracts to players in the defense industry to develop and deploy advanced hypersonic weapons to maintain military dominance and protect nations security interest. Therefore, rise in government investments drives innovation in hypersonic missile technology, encouraging R&D efforts by both government agencies and private defense contractors. Such developments are expected to propel the growth of the hypersonic missiles market.

Competitive Analysis

The key players profiled in the Europe and Middle East shooting ranges market include Theissen Training Systems GmbH, Saab AB, Polytronic International AG, InVeris Training Solutions, Cubic Corporation, Action Target, Inc., ELI OÜ, INTARSO GmbH, Faris Group, and EDGE PJSC Group.

Rise in Cross-Border Conflict and Geopolitical Tensions

Increase in geopolitical tensions has fostered the demand for advanced military capabilities to deter potential adversaries. Hypersonic missiles offer a unique strategic advantage due to their ability to deliver payloads at incredibly high speeds, making them difficult to intercept and providing a credible deterrent against adversaries. Countries facing geopolitical threats may seek to bolster their military capabilities, including their ability to conduct precision strikes deep within enemy territory.

Hypersonic missiles provide a rapid and highly precise means of delivering conventional or nuclear payloads, offering decision-makers more options for responding to emerging threats. Moreover, geopolitical tensions can fuel an arms race among nations, with each seeking to outmatch the other in terms of military capabilities. The development and deployment of hypersonic missiles can become a focal point in such competitions, as countries strive to gain an edge over their adversaries, which is anticipated to boost the growth of the hypersonic missile industry.

Developments of Hypersonic Technologies

Hypersonic technologies refer to the suite of technologies involved in the development, deployment, and utilization of hypersonic vehicles and weapons. Many countries are investing in hypersonic technologies as part of their military modernization efforts. The ability to deploy hypersonic missiles and vehicles provides strategic advantages in terms of precision strike capabilities, deterrence, and defense against emerging threats. Increased research and development investments have contributed to the expansion of the hypersonic missiles market size. Moreover, advances in materials science, propulsion systems, aerodynamics, and manufacturing techniques have made it more feasible to develop and deploy hypersonic vehicles. For instance, as part of its fiscal year (FY) 2024 budget request, the U.S. Department of Defense sought $11 billion for the development of hypersonic and long-range subsonic missiles.

 In late January 2023, the Defense Innovation Unit expanded its efforts on hypersonic technologies by launching the Commercial Solutions Opening for the Hypersonic and High-Cadence Airborne Testing Capabilities (HyCAT II) initiative. This initiative will focus on four main areas, which include manufacturing & materials, communication systems & components, propulsion, and alternative navigation & control systems. Governments across the globe are allocating substantial budgets to capitalize on the growing hypersonic missiles market size. In addition, there is surge in the R&D activities to design guidance and control systems and address the technical challenges associated with hypersonic flight.

For instance, in December 2022, Joint Hypersonic Transition Office through the University Consortium for Applied Hypersonics (UCAH) awarded $4.5 million to engineer Roberto Furfaro of the University of Arizona to develop advanced guidance, navigation, and control (GNC) systems for autonomous vehicles operating at hypersonic speeds. Defense forces of numerous countries conduct programs with hypersonic missile manufacturers to develop hypersonic missiles to enhance their ability to deter aggression and respond decisively to threats. For instance, in March 2023, contracts were awarded to Lockheed Martin and Raytheon Missiles and Defense by the U.S. Navy for the development of the Hypersonic Air-Launched Offensive Anti-Surface (HALO) missile system. HALO, compatible with carrier-based aircraft, is designed to provide an anti-ship missile capability that surpasses the existing long-range anti-ship missile (LRASM) in terms of speed, range, and overall capability, with an expected service entry by 2029. Therefore, such R&D programs and initiatives to design and adopt hypersonic technologies are expected to drive the growth of the hypersonic missiles market.

High costs associated with simulation and training services and products

The installation of military simulation and training solutions at military bases or training centers includes the installation of various equipment and software solutions to attain operational efficiency. These systems are associated with high acquisition costs, owing to advanced training & simulation software solutions. Moreover, the design and implementation of these systems are associated with installation as well as training costs, which incur additional costs, thus hampering the growth of the hypersonic missile market.

Moreover, in recent years, the majority of the militaries across the regions have integrated high-end technologies for operational effectiveness, which creates requirement for effective training platforms. Thus, an increase in the necessity for upgrades of the existing simulation & training system to meet the changing requirements of the militaries and associated high costs is expected to act as the key restraints for the shooting range market.

Technological Challenges

One of the most significant challenges in developing and effectively utilizing hypersonic missiles is managing the extreme heat generated during their high-speed flight through the atmosphere. Unlike traditional cruise missiles, which fly at lower speeds within the atmosphere, or ballistic missiles, which primarily operate outside the atmosphere, hypersonic missiles spend a significant portion of their flight within the atmosphere at incredibly high velocities. This sustained high-speed flight exposes the missiles to intense aerodynamic heating, with temperatures reaching as high as 3,000°F (approximately 1,650°C).

Moreover, according to the 2023 post note of Parliamentary Office of Science and Technology, at hypersonic speeds, significant air resistance generated results in temperatures soaring to several thousand degrees. Thus, advanced materials such as ceramics have become imperative to endure such extreme conditions. In addition, ensuring thermal protection for crucial components such as electronics, fuel, and warheads becomes necessary. Furthermore, the aerodynamic design of the missile plays a crucial role. It must be shaped in a way that minimizes air resistance, allowing for hypersonic speeds without excessive heating. Therefore, technological challenges including managing extreme heat during hypersonic flight are expected to hamper the growth of the market.

High Cost

High upfront costs of developing and acquiring hypersonic missile systems make them financially inaccessible to many potential buyers, including countries with limited defense budgets or competing priorities. For instance, the Congressional Budget Office (CBO) estimates that purchasing and sustaining a fleet of 300 ground- or sea launched, intermediate-range ballistic missiles with maneuverable warheads for a period of 20 years would cost $13.4 billion (in 2023 dollars). In comparison, acquiring the same number of comparable hypersonic missiles would cost approximately $17.9 billion, according to the CBO's analysis. This limited affordability significantly hampers the growth of the hypersonic missiles market.

Moreover, in 2021, the Pentagon, represented by Under Secretary of Defense for Research and Engineering Heidi Shyu, expressed concerns about the high cost of hypersonic weapons. Shyu emphasized the need for defense contractors to reduce the ultimate cost of hypersonic weapons, highlighting that current development costs are in tens of millions of dollars per unit. Shyu's remarks at the Association of United States Army conference in Washington underscore the Pentagon's recognition of the importance of cost considerations in the development and procurement of hypersonic weapons.

Concerns about affordability may dampen demand for hypersonic weapons, even among countries with substantial defense budgets. Decision-makers may hesitate to allocate resources to hypersonic programs, especially if they perceive the cost outweighing the benefits or if there are uncertainties surrounding the technology's effectiveness. Thus, all these factors collectively restrain the growth of the global hypersonic missile market.

Advancements in Scramjet Technology for Hypersonic Missiles

Scramjet propulsion systems are crucial for achieving hypersonic speeds while maintaining long-range capabilities. These systems leverage air-breathing engines, which utilize oxygen from the atmosphere and have minimal moving parts, allowing for high-speed tactical strikes in a compact form factor. Governments of various countries secure contracts with companies to develop cutting-edge technologies for military applications. For instance, Northrop Grumman is working on scramjet engine technology development, specifically through successful flight tests of the Hypersonic Air-breathing Weapons Concept (HAWC) missile. These tests were conducted in collaboration with Raytheon Missiles & Defense. As more companies invest in R&D of scramjet technology for hypersonic missiles, competition in the market increases. This competition drives innovation, leading to further advancements in performance, reliability, and affordability of hypersonic missile systems.

Moreover, numerous companies aim to advance propulsion systems for hypersonic missiles and other technologies for faster, more efficient, and longer-range flight capabilities. For instance, in December 2023, General Electric Aerospace (GEA) successfully tested a hypersonic ramjet propulsion system that utilizes rotating detonation combustion (RDC). This breakthrough was achieved at GEA's research center in Niskayuna, New York. RDC is a combustion process that differs from traditional combustion methods used in ramjet engines. Such advancements are anticipated to offer remunerative opportunities for the expansion of the hypersonic missiles market during the forecast period.

Impact of Russia-Ukraine war on Hypersonic Missiles Industry

On February 24, 2022, Russia initiated an invasion of Ukraine, marking a significant escalation in the ongoing Russo–Ukrainian War that commenced in 2014. The conflict has led to a rise in tensions in the region and highlighted the importance of advanced military capabilities. As a result, countries may seek to bolster their defense systems, including investing in hypersonic missile technology to enhance their deterrence capabilities. The conflict could prompt increased collaboration among nations confronting shared security challenges, fostering joint initiatives in hypersonic technology R&D.

Moreover, it may reinforce established defense alliances as countries unite to enhance mutual protection against potential adversaries. In addition, in February 2024, Ukraine claimed that Russia employed an advanced hypersonic missile, specifically the Zircon hypersonic cruise missile, during an attack on the Ukrainian capital. The Kyiv Scientific Research Institute of Forensic Expertise, a government entity, claimed to have evidence indicating the use of the Zircon missile based on recovered debris. As awareness of hypersonic missile capabilities grows, the global market for hypersonic weapons and related technologies is expected to expand at a notable pace. This could lead to increased investment by both governments and private companies in research, development, and production of hypersonic systems.

Recent Developments in the Hypersonic Missiles Industry

•  In August 2023, Northrop Grumman opened a Hypersonic Capability Center (HCC) in Elkton, Maryland to produce advanced propulsion solutions that can power hypersonic missiles beyond Mach 5. The HCC is the U.S. facility designed specifically for large-scale manufacturing of air-breathing propulsion that includes ramjet and scramjet propulsion.
• In May 2023, BrahMos Aerospace, a joint venture between India and Russia, developed technology for hypersonic version of the BrahMos missile. This hypersonic version of the missile can travel at five to seven times the speed of sound.
• In July 2023, RTX and Northrop Grumman received contract from the Defense Advanced Research Projects Agency (DARPA) to advance air-breathing hypersonic systems. This strategy helps to enable the development and flight testing of additional Hypersonic Air-breathing Weapon Concept (HAWC) vehicles, which offer expanded capabilities and enhanced system validation.
• In February 2022, Lockheed Martin Corporation received a contract of $20 million from U.S. Missile Defense Agency (MDA) to develop prototypes of a hypersonic missile intended to intercept and destroy an adversary’s hypersonic projectile in the unpowered glide phase of its trajectory.
• In September 2022, RTX received contract of $985 million from the U.S. Air Force to develop and demonstrate scramjet-powered hypersonic cruise missiles. This strategy helps to move the program out of the prototyping phase of Hypersonic Attack Cruise Missile (HACM). The HACM is an air-launched standoff weapon that can hit high-value targets in contested environments and could be fired from beyond the reach of enemy air defenses.
• In May 2021, BAE Systems through its subsidiary, BAE Systems Australia invested in Australia to support the rapid development of a sovereign high-speed weapons capability, i.e., hypersonic weapons. It invested more than $11 million in hypersonic and high-speed weapon research in Australia in the past decade in collaborative programs with defense industry and academia.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ground support equipment market analysis from 2022 to 2032 to identify the prevailing ground support equipment market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the ground support equipment market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.

  Hypersonic Missiles Market Report Highlights

Aspects	Details
By Type	Hypersonic Boost Glide Missile Hypersonic Cruise Missile Hypersonic Ballistic Missile
By Range	Short Range Medium Range Long Range
By End User	Army Navy Air Force
By Launch Platform	Ground Launch Air Launch Sea Launch
By Region	North America  (U.S.) Europe  (Russia, France) Asia-Pacific  (China, India, Australia, North Korea) Middle East and Africa  (Israel)
Key Market Players	Leidos, Lockheed Martin Corporation, Israel Aerospace Industries, Kratos Defense & Security Solutions, Inc., Raytheon Technologies Corporation, Northrop Grumman Corporation, Rostec, BAE systems, L3Harris Technologies, Inc., BrahMos Aerospace

Analyst Review

  

Author Name(s) : Sneha Kamble | Lalit Janardhan Katare

Related Tags

• Hypersonic Missile
• Hypersonic Weapons
• Hypersonic Missile Technology

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