The Global Hypersonic Technology Market is expected to witness around 8% CAGR during 2021-26, says MarkNtel Advisors in their research report. The global market is gaining widespread popularity, owing to the burgeoning demand for hypersonic weapons, massive defense spending across several nations, and surging territorial conflicts. Moreover, various developments in scramjet technology for hypersonic missiles are also likely to boost the market.
There is increasing advancement in hypersonic technology among the major market players for obtaining significant patent coverage for their inventions. However, the non-traditional defense & commercial players are also actively acquiring their patent portfolios to protect their innovations. Hence, there is a drastic change in the patent landscape, mainly due to the burgeoning technological advancements & participation of top market players.
Many leading companies have filed patents related to hypersonic technology. The U.S., China, Russia, India, and Germany are a few most prominent countries filing significant patents on hypersonic technology, further states the research report. “Global Hypersonic Technology Market Analysis, 2021.”
Defense Forces Captured the Largest Share of the Global Hypersonic Technology Market
Presently, hypersonic technology is among the top priorities of any country’s defense sector to modernize strategy & maintain battlefield dominance.
This technology helps armed forces compress the response times of military commanders. Investments in hypersonic technologies are expected to further flourish in the coming years in response to market demand & an increase in available funding that includes seed capital from Department of Defense (DoD)–backed accelerators.
Lockheed Martin & Raytheon are the leading companies manufacturing hypersonic weapons for militaries. The former has acquired $3.68 billion in hypersonic contracts from the US government since 2014 across the Navy, Army, Navy, NASA, and Defense Advanced Research Projects Agency (DARPA).
“Global Hypersonic Technology Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
Europe to Acquire Significant Share of the Global Hypersonic Technology Market
Significant developments in hypersonic weapon technologies by many countries in Europe entwined the mounting territorial frictions are expected to drive the regional market during 2021-26. The surge in the expenditure on the defense sector, coupled with massive investments by Russia, Germany, and France toward developing hypersonic cruise missiles & glide vehicles, are other crucial aspects likely to boost the Hypersonic Technology Market in Europe over the forecast years.
Key Questions Answered in the Study
According to MarkNtel Advisors, the leading industry players in the Global Hypersonic Technology Market are BAE Systems, Brahmos Aerospace, General Dynamics Corporation, Lockheed Martin, Dynetics Inc, Aerojet Rocketdyne Holdings Inc., L3 Harris Technologies Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, SPACEX, Thales Group, Boeing Company, NPO Mashinostroyeniya, and Votkinsk Machine Building Plant.