What is Hypersonic Weapon Market?
The global hypersonic weapons market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Growing demand for advanced tactical weapons propelled by rising defense expenditure across different countries is expected to be one of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Hypersonic Cruise Missiles and Hypersonic Guided Vehicles) and major geographies with country level break-up.
Boeing (United States), Lockheed Martin Corporation (United States), Raytheon (United States), Nurthrop Grumman Corporation (United States), DARPA (United States), JSC Votkinsk Machine Building Plant (Russia) and Dynetics, Inc. (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Hypersonic Weapon market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Hypersonic Weapon market by Type, Application and Region.
On the basis of geography, the market of Hypersonic Weapon has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand for Advanced Tactical Weapons Such as High Speed Missiles
- Rising Defense Expenditure Across Different Countries
- Development of Nuclear Weapons & Atomic Weapons
- Opportunities in the Asia Pacific Region
- Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
In May 2020, Dynetics announced that it has planned to complete its hypersonic missile production factory in Alabama, United States within the year 2020.
Stringent Government Regulations Regarding Shutting Down of Operations Across Different Industries Around the World Due to the COVID-19 Pandemic is Impacting the Demand for Hypersonic Weapons
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the hypersonic weapons market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
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