The global hypersonic technology market reported a revenue of $5.41 billion in 2020 and is estimated to cross $12.92 billion by 2031, at a CAGR of 8.45% during the forecast period, 2021-2031.

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The U.S. dominated the global hypersonic technology market in 2020 and is anticipated to uphold its dominance throughout the forecast period. Factors such as the presence of major hypersonic technology manufacturers and a significant investment by the U.S. Department of Defense (DoD) fueled the high growth rate and major share of the U.S. in the hypersonic technology market. Moreover, the increasing demand for advanced weapons for offensive applications powered the growth rate in the region.

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.

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.

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The existing companies expected to develop next-generation defense solutions to cater to the need for future applications could benefit from the global hypersonic technology market. The prominent companies in the hypersonic technology market include Aerojet Rocketdyne Holdings Inc., The Boeing Company, Brahmos Aerospace Pvt. Ltd, Lockheed Martin Corporation, Thales Group, L3 Harris Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Raytheon, Saab SA, Dynetics Technical Solutions, and Space Exploration Technologies Corp.

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