Supersonic Jet Market
PUBLISHED: 2024 ID: SMRC27856
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Supersonic Jet Market

Supersonic Jet Market Forecasts to 2030 - Global Analysis By Platform (Commercial Aircraft and Military Aircraft), System (Airframe, Avionics, Engine and Landing Gear System) and By Geography

4.2 (51 reviews)
4.2 (51 reviews)
Published: 2024 ID: SMRC27856

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Supersonic Jet Market is accounted for $28.66 billion in 2024 and is expected to reach $41.82 billion by 2030 growing at a CAGR of 6.5% during the forecast period. A supersonic jet is an aircraft that is capable of flying faster than the speed of sound, which is approximately 343 meters per second (1,235 km/h or 767 mph) at sea level. Supersonic flight typically occurs at speeds above Mach 1, with the jet traveling at speeds ranging from Mach 1 to Mach 3 or higher. These jets are designed with specialized aerodynamic features, such as pointed nose cones and slender, swept-back wings, to reduce air resistance and manage the shockwaves created by flying at such high speeds. Supersonic jets also play a critical role in strategic deterrence, as they can intercept enemy aircraft or missiles at high velocities. The development of supersonic transport holds promise for faster international business travel and enhanced connectivity.

Market Dynamics: 

Driver: 

Increased demand for faster travel

As global connectivity expands and business needs require faster, more efficient transportation, supersonic aircraft are being reimagined to meet these demands. These next-generation jets are designed to reduce travel times by flying at speeds greater than Mach 1, cutting flight durations by half or more. Companies like Boom Supersonic and Aerion are pushing the envelope with new designs, materials, and technologies aimed at making supersonic travel both viable and sustainable. As air travel continues to evolve, these advancements are positioning supersonic jets as a crucial solution to the need for faster, more efficient global transportation, particularly for high-priority business and international flights.

Restraint:

High operational costs

High operational costs are a significant challenge for the development and widespread adoption of supersonic jets. These advanced aircraft require cutting-edge technology, specialized materials, and complex engineering, which leads to high manufacturing and maintenance costs. Supersonic jets consume more fuel than conventional subsonic aircraft due to their need to maintain higher speeds, contributing to elevated operational expenses. However, the supersonic flight also often requires modifications to existing airport infrastructure, such as longer runways and noise abatement measures, further increasing costs.

Opportunity:

Rising defense budgets

Rising defense budgets are significantly impacting the development of supersonic jets, particularly in terms of advanced capabilities, speed, and maneuverability. As nations allocate more resources to military innovation, the focus is on enhancing the performance of these jets to maintain air superiority in increasingly complex combat environments. Increased funding allows for breakthroughs in materials science, enabling the creation of lighter, stronger airframes and engines that can withstand extreme speeds and high-altitude conditions. Enhanced radar systems, AI-driven decision-making, and hypersonic flight are also on the horizon, promising faster response times and more precise strikes.

Threat:

Lack of investment and funding

The development of supersonic jets is being significantly hindered by a lack of investment and funding. While the technology offers great potential for faster air travel, the high cost of research, development, and certification is a major barrier. Supersonic jets require advanced materials, specialized engineering, and complex infrastructure, all of which come with hefty price tags. Regulatory hurdles around noise pollution and environmental concerns, such as carbon emissions, add further layers of financial and technical complexity. Many investors are hesitant to commit due to the uncertainty surrounding the market demand for commercial supersonic travel and the long timelines required for development.

Covid-19 Impact: 

The COVID-19 pandemic had a significant impact on the development of supersonic jets, delaying progress in both commercial and military aviation sectors. Supersonic flight, which was once seen as the future of air travel, faced setbacks as airlines and manufacturers shifted focus towards addressing the immediate challenges of the pandemic. With global travel restrictions, a decrease in air passenger demand, and the need for cost-cutting measures, the commercial aviation industry, including projects like Boom Supersonic's Overture, struggled to secure funding and maintain timelines. The pandemic prompted a reevaluation of aviation's environmental impact, leading to increased pressure for more sustainable, quieter, and greener technologies. 

The Military Aircraft segment is expected to be the largest during the forecast period

Military Aircraft segment is expected to dominate the largest share over the estimated period, with the development and deployment of supersonic jets, which offer unmatched speed, maneuverability, and advanced capabilities. These jets are designed to fly faster than the speed of sound, typically exceeding Mach 1, and can significantly reduce response times in combat scenarios. Supersonic jets are highly valued for their ability to intercept and neutralize threats quickly, whether in air-to-air combat or during high-speed strike missions. Recent advancements in engine technology, materials science, and stealth features have made these aircraft more efficient, stealthy, and cost-effective. 

The Landing Gear System segment is expected to have the highest CAGR during the forecast period

Landing Gear System segment is estimated to grow at a rapid pace during the forecast period. As supersonic jets reach speeds far exceeding those of subsonic aircraft, their landing gear must withstand immense forces, both in terms of speed and impact. The system is engineered to support the aircraft’s weight, provide stability during ground operations, and handle high-speed landings with precision. Advanced materials, such as titanium alloys and composites, are used to minimize weight while maximizing strength and durability. Additionally, sophisticated shock-absorbing mechanisms are incorporated to mitigate the extreme forces encountered during high-speed landings. 

Region with largest share:

North America region is poised to hold the largest share of the market throughout the extrapolated period. As many military aircraft in the region approach the end of their operational lifespans, there is a critical demand for advanced, high-performance jets that can maintain national defense capabilities. Supersonic jets, offering significantly faster speeds, greater maneuverability, and improved efficiency, are increasingly witnessed as a solution to modernize fleets. These jets not only enhance strategic reach and operational flexibility but also incorporate cutting-edge technology for better stealth, avionics, and weapons systems. North American defense forces, including the U.S. and Canada, are actively investing in next-generation supersonic aircraft to stay ahead of global security threats, maintain air superiority, and ensure rapid response capabilities.

Region with highest CAGR:

Europe region is estimated to witness the highest CAGR during the projected time frame. As global business and leisure travel continues to rise, there is an increasing need for faster and more efficient transportation. Supersonic jets, capable of exceeding the speed of sound, offer the promise of drastically reducing flight durations, making long-haul travel more convenient and time-effective. In Europe, where interconnected cities and economic hubs like London, Paris, and Frankfurt are crucial for business and tourism, supersonic aircraft can cut travel times by up to 50%, providing a competitive edge. 

Key players in the market

Some of the key players in Supersonic Jet market include Airbus SE, BAE Systems, Boom Technology, Inc, Dassault Aviation SA, EON Aerospace, Inc, Hindustan Aeronautics Limited, Lockheed Martin Corporation, Spike Aerospace, inc, The Boeing Company and United Aircraft Corporation.

Key Developments:

In January 2024, NASA and Lockheed Martin launched the debut of their collaborated effort of X-59, which is as quiet supersonic aircraft as both companies aim to revolutionize air travel in the future with more commercial supersonic low-noise airplanes with the ability to fly faster than the speed of sound.

In August 2023, Boom, a Colorado-based airplane company, is focused on reintroducing commercial supersonic flights for their customers, offering higher-speed traveling options. The company recently showcased its new designs about the technologies and partners being involved in the design and manufacturing process.

In July 2023, Destinus, a Switzerland-based start-up dealing in airplane manufacturing, announced that the company is focused on building its first commercial hydrogen-powered aircraft with the ability to travel at 5x the speed of sounds at an altitude of more than 100,000 ft.

In February 2023, India's state-owned Hindustan Aeronautics Ltd (HAL) unveiled a full-scale model of the single-engine Hindustan Lead-in Fighter Trainer-42 (HLFT-42). It is being developed to instruct future Indian Air Force pilots operating fourth- and fifth-generation fighters.

In December 2022, Bloom Supersonic unveiled a new turbofan engine, the Symphony engine, designed for net zero carbon efficiency and quiet operation. This engine is being developed by three companies: Florida Turbine Technologies (FTT) for engine design, GE Additive for additive technology design consulting, and StandardAero.

Platforms Covered:
• Commercial Aircraft
• Military Aircraft 

Systems Covered:
• Airframe
• Avionics
• Engine
• Landing Gear System

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
      
2 Preface  
  
 2.1 Abstract    
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology    
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources   
  2.5.2 Secondary Research Sources   
  2.5.3 Assumptions   
      
3 Market Trend Analysis     
 3.1 Introduction    
 3.2 Drivers    
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats    
 3.6 Emerging Markets    
 3.7 Impact of Covid-19    
      
4 Porters Five Force Analysis     
 4.1 Bargaining power of suppliers    
 4.2 Bargaining power of buyers    
 4.3 Threat of substitutes    
 4.4 Threat of new entrants    
 4.5 Competitive rivalry    
      
5 Global Supersonic Jet Market, By Platform     
 5.1 Introduction    
 5.2 Commercial Aircraft    
 5.3 Military Aircraft    
      
6 Global Supersonic Jet Market, By System     
 6.1 Introduction    
 6.2 Airframe    
 6.3 Avionics    
 6.4 Engine    
 6.5 Landing Gear System    
      
7 Global Supersonic Jet Market, By Geography     
 7.1 Introduction    
 7.2 North America    
  7.2.1 US   
  7.2.2 Canada   
  7.2.3 Mexico   
 7.3 Europe    
  7.3.1 Germany   
  7.3.2 UK   
  7.3.3 Italy   
  7.3.4 France   
  7.3.5 Spain   
  7.3.6 Rest of Europe   
 7.4 Asia Pacific    
  7.4.1 Japan   
  7.4.2 China   
  7.4.3 India   
  7.4.4 Australia   
  7.4.5 New Zealand   
  7.4.6 South Korea   
  7.4.7 Rest of Asia Pacific   
 7.5 South America    
  7.5.1 Argentina   
  7.5.2 Brazil   
  7.5.3 Chile   
  7.5.4 Rest of South America   
 7.6 Middle East & Africa    
  7.6.1 Saudi Arabia   
  7.6.2 UAE   
  7.6.3 Qatar   
  7.6.4 South Africa   
  7.6.5 Rest of Middle East & Africa   
      
8 Key Developments     
 8.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 8.2 Acquisitions & Mergers    
 8.3 New Product Launch    
 8.4 Expansions    
 8.5 Other Key Strategies    
      
9 Company Profiling     
 9.1 Airbus SE    
 9.2 BAE Systems    
 9.3 Boom Technology, Inc    
 9.4 Dassault Aviation SA    
 9.5 EON Aerospace, Inc    
 9.6 Hindustan Aeronautics Limited    
 9.7 Lockheed Martin Corporation    
 9.8 Spike Aerospace, inc    
 9.9 The Boeing Company    
 9.10 United Aircraft Corporation    
      
List of Tables      
1 Global Supersonic Jet Market Outlook, By Region (2022-2030) ($MN)     
2 Global Supersonic Jet Market Outlook, By Platform (2022-2030) ($MN)     
3 Global Supersonic Jet Market Outlook, By Commercial Aircraft (2022-2030) ($MN)     
4 Global Supersonic Jet Market Outlook, By Military Aircraft (2022-2030) ($MN)     
5 Global Supersonic Jet Market Outlook, By System (2022-2030) ($MN)     
6 Global Supersonic Jet Market Outlook, By Airframe (2022-2030) ($MN)     
7 Global Supersonic Jet Market Outlook, By Avionics (2022-2030) ($MN)     
8 Global Supersonic Jet Market Outlook, By Engine (2022-2030) ($MN)     
9 Global Supersonic Jet Market Outlook, By Landing Gear System (2022-2030) ($MN)     
10 North America Supersonic Jet Market Outlook, By Country (2022-2030) ($MN)     
11 North America Supersonic Jet Market Outlook, By Platform (2022-2030) ($MN)     
12 North America Supersonic Jet Market Outlook, By Commercial Aircraft (2022-2030) ($MN)     
13 North America Supersonic Jet Market Outlook, By Military Aircraft (2022-2030) ($MN)     
14 North America Supersonic Jet Market Outlook, By System (2022-2030) ($MN)     
15 North America Supersonic Jet Market Outlook, By Airframe (2022-2030) ($MN)     
16 North America Supersonic Jet Market Outlook, By Avionics (2022-2030) ($MN)     
17 North America Supersonic Jet Market Outlook, By Engine (2022-2030) ($MN)     
18 North America Supersonic Jet Market Outlook, By Landing Gear System (2022-2030) ($MN)     
19 Europe Supersonic Jet Market Outlook, By Country (2022-2030) ($MN)     
20 Europe Supersonic Jet Market Outlook, By Platform (2022-2030) ($MN)     
21 Europe Supersonic Jet Market Outlook, By Commercial Aircraft (2022-2030) ($MN)     
22 Europe Supersonic Jet Market Outlook, By Military Aircraft (2022-2030) ($MN)     
23 Europe Supersonic Jet Market Outlook, By System (2022-2030) ($MN)     
24 Europe Supersonic Jet Market Outlook, By Airframe (2022-2030) ($MN)     
25 Europe Supersonic Jet Market Outlook, By Avionics (2022-2030) ($MN)     
26 Europe Supersonic Jet Market Outlook, By Engine (2022-2030) ($MN)     
27 Europe Supersonic Jet Market Outlook, By Landing Gear System (2022-2030) ($MN)     
28 Asia Pacific Supersonic Jet Market Outlook, By Country (2022-2030) ($MN)     
29 Asia Pacific Supersonic Jet Market Outlook, By Platform (2022-2030) ($MN)     
30 Asia Pacific Supersonic Jet Market Outlook, By Commercial Aircraft (2022-2030) ($MN)     
31 Asia Pacific Supersonic Jet Market Outlook, By Military Aircraft (2022-2030) ($MN)     
32 Asia Pacific Supersonic Jet Market Outlook, By System (2022-2030) ($MN)     
33 Asia Pacific Supersonic Jet Market Outlook, By Airframe (2022-2030) ($MN)     
34 Asia Pacific Supersonic Jet Market Outlook, By Avionics (2022-2030) ($MN)     
35 Asia Pacific Supersonic Jet Market Outlook, By Engine (2022-2030) ($MN)     
36 Asia Pacific Supersonic Jet Market Outlook, By Landing Gear System (2022-2030) ($MN)     
37 South America Supersonic Jet Market Outlook, By Country (2022-2030) ($MN)     
38 South America Supersonic Jet Market Outlook, By Platform (2022-2030) ($MN)     
39 South America Supersonic Jet Market Outlook, By Commercial Aircraft (2022-2030) ($MN)     
40 South America Supersonic Jet Market Outlook, By Military Aircraft (2022-2030) ($MN)     
41 South America Supersonic Jet Market Outlook, By System (2022-2030) ($MN)     
42 South America Supersonic Jet Market Outlook, By Airframe (2022-2030) ($MN)     
43 South America Supersonic Jet Market Outlook, By Avionics (2022-2030) ($MN)     
44 South America Supersonic Jet Market Outlook, By Engine (2022-2030) ($MN)     
45 South America Supersonic Jet Market Outlook, By Landing Gear System (2022-2030) ($MN)     
46 Middle East & Africa Supersonic Jet Market Outlook, By Country (2022-2030) ($MN)     
47 Middle East & Africa Supersonic Jet Market Outlook, By Platform (2022-2030) ($MN)     
48 Middle East & Africa Supersonic Jet Market Outlook, By Commercial Aircraft (2022-2030) ($MN)     
49 Middle East & Africa Supersonic Jet Market Outlook, By Military Aircraft (2022-2030) ($MN)     
50 Middle East & Africa Supersonic Jet Market Outlook, By System (2022-2030) ($MN)     
51 Middle East & Africa Supersonic Jet Market Outlook, By Airframe (2022-2030) ($MN)     
52 Middle East & Africa Supersonic Jet Market Outlook, By Avionics (2022-2030) ($MN)     
53 Middle East & Africa Supersonic Jet Market Outlook, By Engine (2022-2030) ($MN)     
54 Middle East & Africa Supersonic Jet Market Outlook, By Landing Gear System (2022-2030) ($MN)  

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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