Missiles are self-propelled precision-guided ammunition systems and essential part of a country’s defense & security. They constitute of four system components, which are targeting or missile guidance system, flight system, engine, and warhead. Missiles are classified as subsonic, supersonic, and hypersonic systems depending on the speed at which they travel. Hypersonic missiles travel at speed of Mach 5 (nearly 4000 miles per hour) which is five times the speed of sound. The two types of hypersonic missiles are hypersonic guide vehicles (HGV) and hypersonic cruise missiles. Moreover, HGV consists of two rockets, which helps in guiding the boost glide weapon from upper atmosphere to outer atmosphere, and warhead. After the boost glide weapon reaches hypersonic speed, warhead get detached to hit the target. The missile follows a ballistic trajectory over most of its flight path. Furthermore, hypersonic cruise missiles are unmanned self-propelled guided vehicle which fly within the earth’s atmosphere. In addition, the modern hypersonic missiles are hard to track compared to traditional missiles and added manoeuvrability at these high speeds that makes them so practical as both offensive and defensive weapons.
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Major Market Players:
Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd., Lockheed Martin Corporation, Thales Group, General Dynamics Corporation, Northrop Grumman Corporation, Raytheon Company, SAAB SA, and Dynetics Inc.
Due to COVID-19 pandemic government across the all the major countries have announced lockdown leading to various business shutdowns. This has led to disruption in manufacturing of defense equipment. Moreover, due to economic slowdown and more focus on health budget many countries have reduced their defense budget thus affecting the demand for hypersonic missiles. Furthermore, due lockdown there was unavailability of raw materials required for manufacturing of hypersonic missiles. In addition, due to social distancing & travelling restriction norms there was unavailability of skilled labor required for production of hypersonic missiles. Defense is an evolving sector which had a slight setback due to the pandemic, but it is expected to recover post pandemic and drive growth of hypersonic missile market.
To ensure proper safety & security government of major countries are investing heavily in military equipment. Major countries are heavily investing in R&D for manufacturing of hypersonic missile. Since, hypersonic missile strengthens the military & defense of country, and it can be very useful during war or terrorist attacks. For instance, in 2019, Lockheed Martin was awarded a $81.5 million contract by U.S. Air Force to provide solid-fuel rocket motor for hypersonic missile and $347 million contract from U.S, military for hypersonic weapons. Furthermore, in 2021, Lockheed Martin landed a contract of $1.53 billion from Colorado for supplying hypersonic weapons. Thus, government investment in missile technology can act as an opportunity to drive growth of hypersonic missile market
Questions answered in the hypersonic missile market research report:
- Which are the leading market players active in the hypersonic missile market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the hypersonic missile market?
- What are the projections for the future that would help in taking further strategic steps?
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