Global Supersonic and Hypersonic Missiles Market 2018-2022
About Supersonic and Hypersonic Missiles
Cruise missiles that can travel at speeds ranging from 2 to 3 Mach are known as supersonic cruise missiles. Variants with a speed of than 5 Mach are called hypersonic missiles; a Mach is equivalent to 636.28 mph. These cruise missiles have enhanced maneuverability and other sophisticated capabilities powered by stealth technology, which enables them to bypass the missile defense systems by cruising at low altitudes and move undetected.
Technavio’s analysts forecast the global supersonic and hypersonic missiles market to grow at a CAGR of 7.23% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global supersonic and hypersonic missiles market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Supersonic and Hypersonic Missiles Market 2018-2022
Technavio recognizes the following companies as the key players in the global supersonic and hypersonic missiles market: Lockheed Martin, Raytheon, Boeing, and Northrop Grumman.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advent of scramjet technology. An engine that utilizes the oxygen in the atmosphere for combustion instead of carrying the oxygen tanks onboard for combustion is known as scramjet engine. The technology achieves this by forcing air at supersonic speed and igniting the fuel without decelerating the speed of the input air.”
According to the report, one driver in the market is increasing number of territorial conflicts. A major driver for the development of supersonic and hypersonic missiles is the increasing number of territorial conflicts. Territorial conflicts refer to diplomatic disputes over the possession or control of land between two or more sovereign states or other entities, which may escalate to serious disagreements and even militarized confrontations as observed in the history.
Further, the report states that one challenge in the market is less cost-effectiveness toward missile fabrication. As the hypersonic missile technology is the backbone of one of the most advanced weapon missile systems, it has faced several technologies challenges. During tests, low sustenance of the test vehicle at hypersonic speeds led to various design and material challenges that took years to be resolved.