Global Hypersonic Technology Market Research Report: Forecast (2021-2028)

Hypersonic refers to missiles, aircraft, rockets, and spacecraft that can achieve speeds faster than Mach 5, i.e., nearly 4,000 miles per hour. Hypersonic Technology is used in the carrier vehicle for hypersonic & long-range cruise missiles and will have several civilian applications, including the launching of small satellites at low cost.

According to MarkNtel Advisors, the Global Hypersonic Technology Market is anticipated to grow at a CAGR of around 8% during the forecast period, i.e., 2021-28. Militaries worldwide are actively investing numerous resources toward developing advanced technologies for enhancing the offensive & defensive abilities of their respective countries. Hypersonic technology is one such area that has gained focus in recent years. Although the technology is almost 60 years old, armed forces have begun realizing the true potential of hypersonic weapons.

Moreover, the countries like the US, Russia, and China are significantly investing toward developing hypersonic technology, followed by India, Australia, Japan, France, and Germany. These nations are awarding programs to major defense companies to equip hypersonic-enabled weapons in their arsenal. The hypersonic technology programs around the globe include 3M22 Tsirkon in Russia, BrahMos in India, and AGM-183 Air Rapid Response Weapon (ARRW) by the US, further states the research report, “Global Hypersonic Technology Market Analysis, 2021.”

Impact of COVID-19 on the Global Hypersonic Technology Market

• Last year, the COVID-19 pandemic catastrophically affected the global economic conditions.
• Due to the pandemic, the supply chain for most operation prototyping programs became vulnerable to disruption.
• The pandemic also impacted the deployment of high investment areas like hypersonic technologies.
• Moreover, the imposition of lockdown & stringent movement restrictions affected the research & development activities.
• The testing & development phases in the defense industry were put on a halt across several nations due to supply chain disruptions & severe economic scenarios, which, in turn, negatively influenced the adoption of advanced technologies like hypersonic missiles.
• However, as the lockdown uplifted, the market has started growing steadily and shows signs of getting back to its usual growth pace, owing to the incoming investments toward the development.