Hypersonic Weapons Market - By Type (Hypersonic Glide Vehicles, Hypersonic Missiles), By Range (Short-Range (up to 1,000 kilometers), Medium-Range (1,000 - 3,000 kilometers), Long-Range (above 3,000 kilometers)), By Platform, By Technology, Forecast 2024 - 2032

Hypersonic Weapons Market Size

Hypersonic Weapons Market size was valued at USD 7.12 billion in 2023 and is expected to grow at a CAGR of over 10% between 2024 and 2032. The strategic need to deter adversaries and enhance national security drives significant investment in hypersonic weapons. These weapons provide unparalleled speed and maneuverability, making them difficult to intercept and counter. Nations perceive hypersonic capabilities as a critical element in modernizing their military arsenals and maintaining a strategic edge.
 

 For example, the United States' Conventional Prompt Strike (CPS) program aims to develop hypersonic weapons capable of striking targets anywhere in the world within an hour. Such programs underscore the importance of hypersonic technology in contemporary defense strategies. For instance, in March 2023, the US air force awarded Raytheon Technologies corporation (US) a contract to develop hypersonic cruise missiles for the HACM Program (Hypersonic assault cruise missile). The contract had a 985-million-dollar value.
 

The evolving nature of global threats and the rise of asymmetric warfare necessitate advanced weaponry like hypersonic missiles. Non-state actors and rogue nations employ unconventional tactics that traditional defense systems may struggle to counter effectively. Hypersonic weapons offer the ability to quickly neutralize these threats with precision strikes. For instance, the rapid development of anti-access/area denial (A2/AD) systems by adversaries poses significant challenges to traditional military operations. Hypersonic weapons can penetrate these defenses, providing a critical capability for addressing emerging threats and maintaining operational superiority.
 

The research, development, and testing of hypersonic weapons are extremely expensive, requiring substantial financial investments. The high cost of developing and deploying these advanced systems can strain defense budgets, especially for countries with limited financial resources. The financial burden is further compounded by the need for extensive testing and validation to ensure the reliability and effectiveness of hypersonic weapons. Cost overruns and budget constraints can pose significant challenges to the sustained development of hypersonic technologies.
 

Hypersonic weapons Market Trends

Governments worldwide are significantly increasing their investment in hypersonic weapon technologies. This surge in funding is driven by the need to maintain a strategic military advantage and to counteract similar advancements by potential adversaries. For example, the U.S. Department of Defense has allocated substantial resources towards hypersonic weapon development, with projects like the Air-Launched Rapid Response Weapon (ARRW) and Conventional Prompt Strike (CPS) program. This trend is not limited to the United States; other countries such as China and Russia are also heavily investing in hypersonic capabilities, leading to a global race in hypersonic weapon development.
 

The integration of advanced technologies such as artificial intelligence (AI), machine learning (ML), and advanced materials into hypersonic systems is a significant trend. These technologies enhance the capabilities of hypersonic weapons, making them more efficient, reliable, and precise. AI and ML are being used to improve guidance systems and predictive maintenance, while advanced materials like carbon composites are crucial for developing heat-resistant structures that can withstand the extreme conditions of hypersonic flight. The ongoing innovation in these areas is crucial for overcoming the technical challenges associated with hypersonic weapons and pushing the boundaries of what these systems can achieve.
 

Another important trend is the increase in international collaboration and strategic partnerships among defense contractors, research institutions, and government agencies. These collaborations are essential for sharing knowledge, resources, and expertise, which accelerates the development of hypersonic technologies. For instance, the collaboration between Lockheed Martin and DARPA on the Tactical Boost Glide (TBG) program highlights how strategic partnerships can drive innovation and progress. Such collaborations are expected to continue, fostering a global network of stakeholders dedicated to advancing hypersonic weapon capabilities.

Hypersonic weapons Market Analysis

Based on platform, the market is divided into land, airborne, naval. The airborne segment is expected to register a CAGR of 10% during the forecast period.
 

• Airborne hypersonic weapons are launched from aircraft, offering distinct advantages in terms of range, flexibility, and surprise. These systems can be deployed from various aerial platforms, including bombers, fighter jets, and specialized launch aircraft. The Air-Launched Rapid Response Weapon (ARRW) developed by the United States is a prominent example in this category.
   
• The ARRW is designed to be carried and launched by a B-52 bomber, providing the ability to strike targets at hypersonic speeds while evading traditional missile defense systems. Airborne hypersonic weapons enhance the tactical versatility of air forces by enabling rapid response to emerging threats and expanding the operational reach beyond the limitations of ground-based systems.
   
• Additionally, the ability to launch these weapons from the air allows for greater strategic positioning and the element of surprise, making them formidable tools in modern combat scenarios.
   

Based on the type, the hypersonic weapons market is divided into hypersonic glide vehicles, hypersonic missiles. The hypersonic missiles segment dominated the global market with a revenue of over 9 billion in 2032.
 

• Hypersonic missiles encompass a broad category of weapons that travel at speeds exceeding Mach 5, including both cruise missiles and boost-glide systems. These missiles can be equipped with various types of warheads, including nuclear, conventional, and kinetic energy weapons.
   
• The key characteristic of hypersonic missiles is their ability to reach targets rapidly, minimizing the time available for detection and interception by enemy defenses. The Russian Kinzhal and the Chinese DF-17 are prominent examples of hypersonic missiles. The Kinzhal is an air-launched missile designed to strike both naval and ground targets with high precision, while the DF-17 is a medium-range missile equipped with a hypersonic glide vehicle.
   
• The versatility of hypersonic missiles makes them suitable for a wide range of mission profiles, from strategic strikes to tactical engagements. Their development and deployment represent a significant leap in missile technology, offering unparalleled speed and maneuverability that challenge existing defense paradigms.
   

North America dominated the global hypersonic weapons market in 2023, accounting for a share of over 35%. North America is a significant player in the market, driven primarily by the United States' robust defense sector. The U.S. government has allocated substantial funding towards the development of hypersonic technologies, with programs such as the Air-Launched Rapid Response Weapon (ARRW) and the Long-Range Hypersonic Weapon (LRHW) leading the charge.
 

These initiatives are supported by major defense contractors like Lockheed Martin, Raytheon Technologies, and Northrop Grumman, who are at the forefront of research and development. The strategic importance of hypersonic weapons in maintaining military superiority and national security is a key focus, as the U.S. aims to counter advancements made by adversaries like Russia and China. Additionally, collaborations between the Department of Defense (DoD) and DARPA are accelerating the pace of innovation and deployment, ensuring that North America remains a dominant force in the market.
 

The United States is a frontrunner in the hypersonic weapons market, driven by its extensive defense budget and advanced technological capabilities. The U.S. Department of Defense (DoD) has prioritized the development of hypersonic weapons to counter the advancements made by Russia and China. Programs such as the Air-Launched Rapid Response Weapon (ARRW), the Long-Range Hypersonic Weapon (LRHW), and the Conventional Prompt Strike (CPS) are at the forefront of these efforts. The involvement of leading defense contractors like Lockheed Martin, Raytheon Technologies, and Northrop Grumman underscores the commitment to achieving operational readiness and maintaining strategic superiority. The U.S. aims to deploy hypersonic weapons as a critical component of its defense strategy, enhancing its ability to respond swiftly and effectively to emerging threats. Additionally, collaborations with research institutions and international allies further accelerate the development and deployment of hypersonic systems.
 

For instance, in May 2024, The United States as well as France have tested hypersonic technologies, while China and Russia have reportedly deployed hypersonic missiles that could potentially deliver conventional or nuclear warheads. Traveling at more than five times the speed of sound, the speed and maneuverability of hypersonic missiles could challenge existing missile defenses.
 

Further, Japan is actively investing in hypersonic weapons to enhance its national defense capabilities and address regional security challenges. The Japanese Ministry of Defense is focusing on developing hypersonic glide vehicles and cruise missiles to counter potential threats from neighboring countries. Japan's efforts include the development of the Hyper Velocity Gliding Projectile (HVGP), designed to enhance its deterrence and strike capabilities.
 

The strategic importance of hypersonic technology in Japan's defense strategy is evident in its commitment to advancing research and development in this field. Collaborations with domestic defense contractors and international partners are also crucial in accelerating Japan's progress in hypersonic weapon systems. The growing emphasis on hypersonic technology reflects Japan's broader goals of modernizing its military capabilities and ensuring national security in an increasingly complex geopolitical environment.
 

China is a major player in the hypersonic weapons market, driven by its strategic objective to enhance its military capabilities and counterbalance U.S. influence in the region. China has made significant strides in developing hypersonic technologies, with notable advancements such as the DF-ZF hypersonic glide vehicle and the DF-17 missile. These systems are designed to penetrate advanced missile defense networks and provide China with a credible deterrence capability.

The Chinese government has invested heavily in hypersonic research and development, leveraging the expertise of institutions like the China Academy of Aerospace Aerodynamics (CAAA) and the China Aerospace Science and Technology Corporation (CASC). China's progress in hypersonic technology underscores its commitment to achieving technological superiority and enhancing its strategic military capabilities. The deployment of hypersonic weapons is a critical component of China's broader defense strategy, aimed at maintaining regional stability and deterring potential adversaries.
 

South Korea is increasingly focusing on hypersonic weapons to enhance its national defense capabilities and address regional security threats. The South Korean government has launched initiatives to develop indigenous hypersonic technologies, with an emphasis on enhancing its missile defense systems and countering potential threats from neighboring countries. South Korea's efforts include collaborations with domestic defense contractors and research institutions to advance hypersonic research and development.
 

The strategic importance of hypersonic technology in South Korea's defense strategy is evident in its commitment to modernizing its military capabilities and ensuring national security. Additionally, South Korea's partnerships with international allies, particularly the United States, play a crucial role in accelerating the development and deployment of hypersonic systems. The focus on hypersonic weapons reflects South Korea's broader goals of enhancing its deterrence capabilities and maintaining stability in the region.
 

Hypersonic weapons Market Share

Lockheed Martin Corporation & Raytheon Technologies Corporation hold a significant share over 15% in the market. Lockheed Martin Corporation holds a significant share in the market due to its extensive experience, technological expertise, and substantial investments in research and development. As one of the largest defense contractors in the world, Lockheed Martin has been at the forefront of hypersonic technology for decades. The company's involvement in key hypersonic programs, such as the Air-Launched Rapid Response Weapon (ARRW) and the Tactical Boost Glide (TBG) program, underscores its leadership in this field.
 

The ARRW program aims to deliver a hypersonic missile capable of being launched from a B-52 bomber, offering rapid strike capabilities against time-sensitive targets. Lockheed Martin's advanced capabilities in propulsion systems, materials science, and guidance technologies enable it to overcome the technical challenges associated with hypersonic flight. Furthermore, the company's strategic partnerships with the U.S. Department of Defense (DoD) and DARPA provide it with the necessary resources and support to accelerate the development and deployment of hypersonic systems. Lockheed Martin's robust R&D infrastructure, combined with its proven track record of delivering cutting-edge defense solutions, positions it as a dominant player in the market.
 

Raytheon Technologies Corporation holds a significant share in the hypersonic weapons market due to its comprehensive approach to developing advanced missile systems and its strong collaborations with government agencies and industry partners. Raytheon's expertise in missile defense and precision strike technologies makes it a key contributor to the advancement of hypersonic weapons. The company's involvement in the development of the Hypersonic Air-breathing Weapon Concept (HAWC) and the Glide Breaker program highlights its commitment to pushing the boundaries of hypersonic capabilities.
 

The HAWC program, developed in partnership with DARPA, aims to create a hypersonic cruise missile that can travel at speeds exceeding Mach 5, while the Glide Breaker program focuses on developing interceptors to counter hypersonic threats. Raytheon's extensive portfolio of missile systems, including the Patriot and Standard Missile families, provides a strong foundation for integrating hypersonic technologies. Additionally, Raytheon's focus on innovation and its investments in state-of-the-art testing facilities enable it to validate and refine hypersonic designs effectively. The company's strong relationships with the U.S. military and international allies further enhance its ability to influence the market and secure significant contracts, solidifying its position as a key player in this rapidly evolving sector.
 

Hypersonic weapons Market Companies

Major players operating in the hypersonic weapons industry are:

• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• Northrop Grumman Corporation
• L3Harris Technologies
• Leidos
• Thales Group
• BAE Systems
   

Hypersonic Weapons Industry News

• In March 2024 Castelion, a startup aiming to develop hypersonic weapons for the Pentagon, announced that it has conducted its first system test. This marks a significant step as a growing number of smaller hypersonic arms manufacturers challenge large defense contractors with more cost-effective and rapidly produced products, according to Reuters.
   
• In March 2024, the U.S. Air Force has successfully conducted the first test of its hypersonic cruise missile in the Pacific, signaling to China that Washington remains competitive in this advanced weapons arena, where Beijing is often perceived to have an advantage. The missile, officially named the All-Up-Round AGM-183A Air-launched Rapid Response Weapon (ARRW), was tested at the Reagan Test Site on Kwajalein Atoll in the Marshall Islands, located approximately 1,600 miles (2,600 kilometers) east of Guam.
   

The hypersonic weapons market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2021 to 2032, for the following segments:

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Market, By Type, 2021 - 2032

• Hypersonic Glide Vehicles              
• Hypersonic Missiles             

Market, By Range, 2021 - 2032

• Short-Range (up to 1,000 kilometers)                           
• Medium-Range (1,000 - 3,000 kilometers)                    
• Long-Range (above 3,000 kilometers)                           

Market, By Platform, 2021 - 2032

• Land
• Airborne
• Naval

Market, By Technology, 2021 - 2032

• Guidance System                         
  • Inertial Navigation System            
  • Global Navigation Satellite System           
  • Terrestrial Guidance System          
  • Command Guidance System          
• Propulsion System                        
  • Scramjet                 
• Boost-glide                        
• Warheads                          
  • Explosive Warheads           
  • Kinetic Energy Penetrators            
  • Electromagnetic Pulse                   

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA