The global hypersonic missile market is predicted to display commendable progress during the forecast period of 2024-2032. A hypersonic missile is a sophisticated, self-propelled, maneuverable, precision-guided weapon that achieves the minimum velocity of Mach 5, making it a significant advancement in the aerospace & defense sector. The hypersonic missile’s distinct advantage over ballistic missiles is its ability to maneuver at high speeds over traditional ballistic trajectories, enabling it to strike any designated target. These missiles employ kinetic energy generated by their motion to engage targets, including underground structures, without requiring explosives. This unique capability makes them a formidable force in modern warfare. The escalating threats of terrorist activities, coupled with advancements in technologies and growing demand for rapid response attacks, are propelling the global hypersonic missile market growth in the foreseeable future.
Informational Source:
https://www.fortunebusinessinsights.com/hypersonic-missile-market-108333
Fortune Business Insights presents this information in a report titled "Hypersonic Missile Market, 2024-2032."
Russia-Ukraine War Impact:
Emerging Opportunities for Expansion of Business to Propel Product Demand
The ongoing conflict between Russia and Ukraine has had a significant impact on the hypersonic missile market. In March 2023, Russia deployed six hypersonic missiles known as “Kinzhal” in the ongoing strike with 81 missiles on Ukraine. This led to a surge in the demand for hypersonic missiles in developed and emerging economies. Recent announcements by the Indian and Russian governments regarding their joint collaboration to develop the hypersonic cruise missile BrahMos 2K has further highlighted the growing interest in the hypersonic industry. Furthermore, the war has opened up new opportunities for other countries in this market. Countries, such as China and South Korea have seized this opportunity to expand their business in this industry.
Major Players Profiled in the Report: