The advent of commercial supersonic and possibly hypersonic passenger aircraft is expected to be fueled by the growing demand for faster and more sustainable aircraft.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Supersonic and Hypersonic Aircraft Market – A Global and Regional Analysis.
According to this study, the market size of the global supersonic and hypersonic aircraft was valued at $4.13 billion in 2021 and is projected to reach $5.40 billion by 2032.
The following factors are responsible for the increase in demand for supersonic and hypersonic aircraft market:
- Increased demand in military and commercial air-cargo flights
- Modernization programs of manned and unmanned military aircraft
- Technology Adoption: aviation manufacturing and space-tech innovations
The detailed study is a compilation of 80 market data tables and 20 figures spread through 210 pages.
Check out the detailed table of content here:
Analyst’s Take on the Market Projection
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, “The maturing of advanced propulsion systems and enhancements in performance of traditional turbojet and turbofan engines is the primary technology driver that will drive the growth in this market. Emerging players developing platforms for the market will likely focus on the operational costs and serviceability of the platforms in both commercial and military segments. While the current manufacturing throughput in the high-speed aircraft market is mostly piloted aircraft, this trend is set to shift toward the adoption of unmanned aircraft. The key advantage of such platforms is the lower weight and complexity that is required for the onboard crew. Further, military unmanned systems are likely just a step away in development toward supersonic capabilities, enabling high-speed adversary fleets to be dispatched much quicker toward incoming adversaries. The first few hypersonic aircraft are likely to be completely unmanned, increasing the requirement of advanced landing systems and avionics hardware to support their navigation during take-off and landing.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- BAE Systems plc
- Baykar Technology
- Boom Technology, Inc.
- Dassault Aviation SA
- Destinus SA
- Exosonic, Inc.
- Hermeus Corporation
- Hypersonix Launch Systems Ltd.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- GE Group
- Raytheon Technologies Corporation
- Reaction Engines Limited
- Rolls-Royce plc.
- The Boeing Company and more.
Recent Developments in the Global Supersonic and Hypersonic Aircraft Market
- In August 2022, American airlines signed a multi-billion-dollar prebook order for Boom Supersonics’ Overture aircraft, a supersonic 70-passenger jet that is expected to enter the commercial aviation market by 2029.
- In November 2021, Hypersonix Launch Systems Limited completed the development of its DART AE hypersonic drone. DART uses a hydrogen fuel-based scramjet engine called SPARTAN that provides air-breathing thrust to the drone up to Mach 12.
- In June 2021, Reaction Engines Ltd. completed the testing for its SABRE engine. This unique engine is being developed to provide thrust from the ground and up to the speed of Mach 5.4 without any additional propulsion unit. The successful demonstration of this air-breathing engine has been followed by partnership agreements and contracts to develop a hypersonic flight-capable aircraft around the SABRE engine.
Europe to Witness the Highest Demand for Supersonic and Hypersonic Aircraft
According to the study conducted by BIS Research, in 2021, the contribution of Europe to the supersonic and hypersonic aircraft market was valued at $1.88 billion. The study suggests that this trend is expected to continue till 2032 putting Europe at the forefront of the market.
The market growth is attributed to the presence of Russia. The growth of the supersonic and hypersonic aircraft market is majorly due to the impending need for the modernization of aging combat aircraft and maintaining a dominant position against rising aerial threats from the capabilities of rival nations.
The presence of key market players such as United Aircraft Corporation, SaaB, BAE Systems, and Dassault Aviation in the European region is contributing to the market revenue.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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