CHICAGO, Nov. 7, 2023 /PRNewswire/ -- The Hypersonic Flight Market is estimated to be USD 782 million in 2023 and is projected to reach USD 1,154 million by 2030, at a CAGR of 5.7 % during the forecast period according to a new report by MarketsandMarkets™. Hypersonic flight refers to the operation of an aircraft or vehicle at speeds significantly exceeding the speed of sound, typically defined as Mach 5 (five times the speed of sound) or greater. This means traveling at speeds of approximately 3,836 miles per hour (6,174 kilometers per hour) or more. Hypersonic flight has both military and civilian applications. In the military context, hypersonic aircraft can be utilized for reconnaissance, intelligence gathering, and response to time-sensitive threats. In the civilian context, the potential for hypersonic passenger aircraft promises dramatically reduced travel times for long-haul flights, revolutionizing air travel. Additionally, hypersonic technology has applications in space exploration, satellite deployment, and scientific research due to its ability to reach orbital velocities and explore distant regions of space more quickly.
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230 – Pages
Hypersonic Flight Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $ 782 million |
Estimated Value by 2030 | $ 1,154 million |
Growth Rate | Poised to grow at a CAGR of 5.7% |
Market Size Available for | 2019–2030 |
Forecast Period | 2023–2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Vehicle Type, Industry, Component and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Lack of infrastructure |
Key Market Opportunities | Space Tourism |
Key Market Drivers | Rising demand for fast and efficient air travel |
Based on Vehicle Type, Hypersonic Spacecraft segment is expected to acquire the highest market share during the forecast period.
The Vehicle type segment has been segmented into Hypersonic Aircraft and Hypersonic Spacecraft. The emergence of the commercial space tourism industry has created a burgeoning market for suborbital and orbital flights. The growing demand for small and large satellites for various purposes, including communication, Earth observation, and scientific research, requires efficient and cost-effective deployment methods. Hypersonic spacecraft provide a swift and reliable means of launching satellites into desired orbits, catering to the expanding satellite industry.
Based on Industry, Space segment is projected to lead the market during the forecast period.
Hypersonic flight within the space industry is poised to acquire the highest market share during the forecast period for several compelling reasons. First and foremost, the space industry is experiencing a profound shift in focus, with a growing emphasis on speed, efficiency, and access to space. Hypersonic flight technology enables rapid, reusable access to space, revolutionizing satellite deployment, exploration missions, and commercial ventures. In terms of the commercial space industry, hypersonic flight offers the potential for point-to-point travel in space, reducing long interplanetary journeys to mere hours or days. This capability, once realized, could revolutionize space tourism and commerce, opening up entirely new markets and business opportunities.
Based on Components, the avionics segment will grow at the fastest rate during the forecast period.
Based on components the hypersonic flight industry has been segmented to propulsion, avionics and aerostructures. Avionics will grow at the highest rate during the forecast period. Hypersonic flight places extreme demands on avionics systems due to the high speeds and temperatures involved. As technology continues to advance, avionics systems are becoming more sophisticated and capable of withstanding the harsh conditions of hypersonic flight. Hypersonic avionics play a critical role in ensuring the safety and control of these ultra-fast aircraft. Advanced avionics systems are necessary to monitor and adjust flight parameters in real time, ensuring the aircraft remains stable and on its intended trajectory.
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Based on region, North America is projected to grow at the highest CAGR during the forecast period.
The hypersonic flight market is anticipated to register highest growth rate in the North America region in 2023. The Hypersonic flight market is expected to grow at the highest rate in North America during the forecast period for several compelling reasons. Firstly, North America has established itself as a global leader in aerospace and defense, with significant investments and technological advancements in hypersonic flight. The US, in particular, has been at the forefront of hypersonic technology development, with both government agencies and private companies heavily investing in research and development.
The military applications of hypersonic flight are substantial, and North America's robust defense industry sees hypersonic technology as a strategic imperative.
Key Players-
Leidos (US), Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), Hermeus (US), Rolls Royce (UK), Bae Systems (UK), DLR (Germany) are some of the leading companies in the hypersonic flight companies. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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