Global Supersonic and Hypersonic Aircraft Market Overview
The global supersonic and hypersonic aircraft market was valued at $4,137.3 million in 2021, and it is expected to reach $5,400.4 million by 2032, growing at a CAGR of 2.73% during the forecast period 2022-2032. The manufacturers of supersonic and hypersonic aircraft are witnessing a high demand from the defense industry as well as is expected to enter the commercial market by 2025 at the earliest. The ecosystem of the supersonic and hypersonic aircraft manufacturing market comprises aircraft manufacturers, subsystem manufacturers, and end users.
Market Lifecycle Stage
High Mach propulsion, unmanned systems, and efficient turbine-based engines have reached advanced development stages in the past decade. The growth and innovations were mostly driven by the requirements of defense arms of the involved nations. However, toward the end of the last decade, several startups and emerging players have entered the highly competitive market, intending to bring both hypersonic and supersonic platforms for both commercial and military end users.
The growth in private players is attributed in part to the proliferation of key design and testing methods in the emerging market, much like the sudden abundance of players in the launch vehicle market since the introduction of SpaceX. Both government agencies and established defense manufacturers are hoping to de-risk development costs and scale innovations in this market by supporting these emerging players throughout their development stages. For instance, in July 2022, Northrop Grumman and Boom Supersonic signed a partnership agreement to develop military variants of the Overture Aircraft with special mission capabilities, which accelerated the adoption of the Boom Overture by prime market players in defense
- The increasing number of emerging players in the supersonic and hypersonic aircraft market developing platforms for passenger flights, sub-orbital cargo flights, and LEO-based services, in addition to defense applications, has placed a high demand for the production of supersonic and hypersonic aircraft during the forecast period.
- Furthermore, the increasing number of modernization programs to replace aging 4th generation fighters with newer platforms has contributed to the increasing demand for these aircraft by military end users.
Segmentation 1: by Speed Regime
- Supersonic Aircraft
- Hypersonic Aircraft
Based on speed regime, the global supersonic and hypersonic aircraft market is expected to be dominated by the demand for supersonic aircraft during the forecast period. This is due to the long development timelines, subsystem integration challenges, and costs of development associated with the adoption of hypersonic aircraft. Since supersonic aircraft have an operational history in commercial as well as military aviation, the growth of such platforms is expected to be higher.
Segmentation 2: by Application
Based on application, the global supersonic and hypersonic aircraft market is expected to be dominated by demand from defense agencies during the forecast period. The adoption for the military application of supersonic and hypersonic aircraft is higher and is led by modernization programs to replace old fighters as well as the development of new hypersonic capabilities by defense forces.
Segmentation 3: by Subsystem
- Control Systems
- Electrical Systems
- Commercial and Military Payload Systems
- Landing Gear
Based on subsystem, the global supersonic and hypersonic aircraft market will witness the highest demand for the airframe subsystem, followed closely by the propulsion subsystem. Both subsystems are critical for supersonic and hypersonic flight, and manufacturers are adopting methods to increase innovations in both production and performance of these major subsystems.
Segmentation 4: by Region
- North America - U.S.
- Europe - France, Germany, Russia, U.K., Turkey, and Rest-of-Europe
- Asia-Pacific - China, India, Japan, and Rest-of-Asia-Pacific
Recent Developments in 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.
Demand - Drivers and Limitations
Following are the demand drivers for the global 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
Following are the challenges for the global supersonic and hypersonic aircraft market:
- Regulatory Laws for International and Domestic Supersonic Flights
- Increased Maintenance Costs for Critical Airframe and Engine Components
- Sustainable Operational Costs for Commercial Airline Operators
- Environmental Pollution and Aircraft Noise Concerns
Following are the opportunities for the global supersonic and hypersonic aircraft market:
- Growing Demand for Multirole Capable High-Speed Platforms
- Sustainable Zero-Carbon Propulsion Systems and Propellant Adoption
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the relevant innovations at the subsystem level that impact the uptake of products in the market. Moreover, the study provides the reader with a detailed understanding of the different propulsion systems being developed for different types of platforms that are expected to enter the future market. The product segment also outlines the considerations for the purchase and deployment of supersonic and hypersonic platforms from the operator’s point of view, encompassing both manned and unmanned aircraft. Lastly, the demand for platforms based on speed regime is provided, with developments partitioned by supersonic manned and unmanned aircraft and unmanned hypersonic aircraft.
Growth/Marketing Strategy: The global supersonic and hypersonic aircraft market has seen major development by key players operating in the market, such as business expansion activities, contracts, mergers, partnerships, collaborations, and joint ventures. The favored strategy for the companies has been contracts to strengthen their position in the supersonic and hypersonic aircraft market. For instance, in November 2020, BAE Systems was awarded a $1.25 billion order to support the production of 38 Eurofighter Typhoon aircraft for the German Air Force.
Competitive Strategy: Key players in the global supersonic and hypersonic aircraft market analyzed and profiled in the study involve aircraft manufacturers as well as subsystem manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global supersonic and hypersonic aircraft market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as contracts, partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of the company’s coverage, product portfolio, and market penetration.
The top segment players leading the market include established players of supersonic and hypersonic aircraft, who constitute 60% of the presence in the market. Other players include startup entities and emerging players that account for approximately 40% of the presence in the market.
Some prominent names established in this 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