Armed forces across the world are actively investing significant resources for developing advanced technology that substantially enhances both the offensive and defensive ability of a country. Hypersonic technology is one such area that has gained focus in recent years. Although the technology is almost 60 years old, armed forces have begun realizing the true potential of hypersonic weapons only recently. Hypersonic systems can hover at a speed more than Mach 5 (speed of light) and can maneuver swiftly.
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Hypersonic systems use air-breathing scramjet engines that allow them to hover at extremely high speeds. Moreover, due to the extreme speeds, the surface of the hypersonic vehicles reaches severe temperatures, which conventional materials cannot withstand; hence, exotic materials such as titanium or ceramic materials are utilized for making the surface of these vehicles
Currently, hypersonic weapons are un-traceable by the present defense systems. Due to their high speed and maneuverability, current radar and satellite detection systems cannot detect hypersonic weapons. However, armed forces are also investing in upgrading the defense systems to detect and track hypersonic weapons. Currently, companies such as Northrup Grumman Corporation, Saab AB, and SpaceX are developing counter-hypersonic technologies that can detect and track hypersonic weapons.
The global hypersonic technology market is one of the most competitive industries, with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the global hypersonic technology market exhibits an inclination toward emerging strategies and developments by market players.
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The global hypersonic technology market has some prominent players who constantly adopt new strategies to enhance their market presence and their increase their annual revenue. The prominent players in the hypersonic technology market adopted strategies such as product launches, contracts, mergers, and acquisitions to expand their market presence. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion. The hypersonic technology market is highly competitive and requires manufacturers to continually innovate and develop cutting-edge technology.