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Hypersonic Flight Market to Reach $1.3 Billion, Globally, by 2033 at 5.7% CAGR: Allied Market Research

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PORTLAND, Ore., July 30, 2024 /PRNewswire/ —  Allied Market Research published a report, titled, “Hypersonic Flight Market by Industry (Military, Space, and Commercial), Vehicle Type (Hypersonic Aircraft, and Hypersonic Spacecraft), and Range (Propulsion, Aerostructure, and Avionics): Global Opportunity Analysis and Industry Forecast, 2024-2033″.  According to the report, the hypersonic flight market was valued at $786.0 million in 2023, and is estimated to reach $1.3 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.

Prime Determinants of Growth 

Breakthroughs in materials science, propulsion systems, aerodynamics, and thermal management drive the development of hypersonic flight technology. Continued innovation and R&D efforts enable more reliable, efficient, and cost-effective hypersonic solutions, spurring market growth. Furthermore, the increasing emphasis on hypersonic weapons and surveillance systems by defense agencies worldwide fuels demand in the military sector. Hypersonic capabilities offer strategic advantages, including rapid strike capabilities, improved deterrence, and enhanced reconnaissance, driving investment and market growth.

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The potential for hypersonic passenger travel, space tourism, and commercial satellite launches presents lucrative opportunities for aerospace companies. The pursuit of faster, more efficient transportation solutions and the expansion of space exploration initiatives contribute to market expansion. In addition, adequate funding and investment in hypersonic research, development, and manufacturing are essential for market growth. Government funding, defense budgets, private investments, and venture capital support critical initiatives, fostering innovation and commercialization efforts in the hypersonic flight market. 

Report Coverage & Details:

Report Coverage 

Details 

Forecast Period 

2024–2033

Base Year 

2023

Market Size in 2022 

$786 million 

Market Size in 2032 

$1, 346.61 million 

CAGR 

5.7 %

No. of Pages in Report 

488

Segments Covered 

Industry, Vehicle Type, Range, and Region 

Drivers  

Rise in demand for military and defense application 

Technological advancement 

Commercial and Space Travel 

Opportunities 

Space Tourism 

Restraint

Technical Challenges 

High Cost 

 

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Segment Highlights

The space segment is expected to witness rapid growth throughout the forecast period.

The space segment is anticipated to experience faster growth in the hypersonic flight market due to technology, which is essential for space exploration, satellite deployment, and access to space. Vehicles capable of hypersonic speeds enable rapid ascent to orbit, reducing launch costs and increasing efficiency in satellite deployment and space missions. As space exploration initiatives expand, the demand for hypersonic flight technology witnesses growth, thereby driving market dominance in the space segment.

The hypersonic spacecraft segment is expected to witness rapid growth throughout the forecast period.

The hypersonic spacecraft segment is anticipated to experience faster growth in the hypersonic flight market due to hypersonic spacecraft being used extensively for satellite launch services. These spacecrafts can rapidly transport payloads to orbit, offering advantages such as reduced launch costs, increased launch frequency, and greater flexibility in launch scheduling. As the demand for satellite-based services continues to grow, including communication, navigation, Earth observation, and remote sensing, the need for efficient and reliable satellite launch solutions drives market dominance in the hypersonic spacecraft segment. 

The propulsion segment is expected to witness rapid growth throughout the forecast period.

The propulsion segment is anticipated to experience faster growth in the hypersonic flight market due to propulsion systems being fundamental to achieving and maintaining hypersonic speeds. These systems provide the thrust necessary to overcome aerodynamic drag and propel hypersonic vehicles through the atmosphere. As such, propulsion technologies play a central role in enabling hypersonic flight, making them indispensable components of hypersonic systems. 

Asia-Pacific to maintain its dominance by 2032.

Asia-Pacific is expected to maintain its dominance in the hypersonic flight market by 2032 owing to Asian countries, particularly China and India, having made significant strides in hypersonic technology research and development. This includes advancements in propulsion systems, materials science, and aerodynamics, driving innovation and accelerating the pace of hypersonic flight development in the region.

Key Players

Lockheed Martin CorporationNorthrop Grumman CorporationBoeing CompanyRaytheon Technologies CorporationBAE Systems plcAerojet Rocketdyne Holdings, Inc.Thales GroupMitsubishi Heavy Industries, Ltd.Saab ABReaction Engines Limited

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The report provides a detailed analysis of these key players in the global hypersonic flight market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Development

In August 2021, Hermeus received an investment worth $60 million for the development of hypersonic military aircraftIn April 2023, Hypersonic partnered with launch provider Rocket lab for initial hypersonic test vehicle launch. This partnership leverages Rocket Lab’s expertise in orbital launches and Hypersonic’s advanced aerospace technology, aiming to demonstrate the capabilities of the hypersonic vehicle.In August 2023, Hypersonix Launch Systems partnered with Kratos Defense & Security to deliver hypersonic drone platform to the U.S. market. This partnership integrates the advanced hypersonic capabilities of Hypersonix with the solid rocket motor technology from Kratos’ Zeus family.In August 2022, Kratos Defense and Security Solutions partnered with Australia’s Hypersonix to integrate their hypersonic vehicle and propulsion systems, aiming to expand their presence in the U.S. national security market.In March 2024, the U.S. Air Force recently conducted the final test of Lockheed’s hypersonic missile, marking a crucial milestone in the development of advanced hypersonic weapons technology.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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Entigrity Merges with MYCPE — Launches MYCPE ONE to Enhance Opportunities for India’s Accounting Workforce

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By expanding the current landscape of services, MYCPE ONE aims to create career opportunities for Indian talent while addressing the evolving needs of the accounting industry.

AHMEDABAD, India, Nov. 14, 2024 /PRNewswire/ — Entigrity, a global leader in outsourcing solutions, and MYCPE, a renowned provider of Continuing Professional Education (CPE) services, announced their merger to create MYCPE ONE.

This strategic merger goes beyond simply combining the services; it’s aimed at building an integrated ecosystem that delivers a comprehensive suite of solutions to CPAs and accounting firms. The unified suite of services will include Staffing, CPE, Learning & Development, Digital Marketing — all in one place.

This will significantly enhance career opportunities for Indian accounting professionals, by providing them with access to the global accounting industry and state-of-the-art learning resources. 

With this mission, MYCPE ONE is also committed to growing its presence in India. With the recent opening of offices in Udaipur and GIFT City, Gandhinagar, MYCPE ONE plans to scale operations across various delivery centres in India.

Today, MYCPE ONE has a team of 40+ delivery centres across 17 cities in India and one in Philippines. MYCPE ONE has partnered with state governments to establish delivery centres in Tier 2 and 3 cities. These initiatives are designed to provide Indian professionals with the opportunities they need to pave their career pathways, spanning from entry-level roles to senior positions. 

“This merger positions MYCPE ONE as a pivotal force in the industry, evolving from an outsourcing provider to a comprehensive tech and services leader for the accounting sector,” said Shawn Parikh, CEO and Co-founder of MYCPE ONE. “Through this merger, we are thrilled to provide Indian professionals with unmatched opportunities to advance their careers and gain valuable international exposure,” he added. 

“Our aim is to build a resilient business model that adapts to market dynamics and reinforces our standing in the global accounting space. By leveraging our deep expertise, we remain committed to serving the accounting sector,” said Valay Parikh, COO and Co-Founder of MYCPE ONE. 

About Entigrity 

Entigrity is a trusted provider of outsourcing solutions, partnering with over 1,000 CPAs and accounting firms & businesses across the U.S. and Canada. With delivery centres in 17 cities across India and one in the Philippines, we are further expanding our presence into additional Tier 2 and Tier 3 cities in India, as well as exploring growth opportunities in the Philippines, South Africa, and South America.

About MYCPE ONE 

MYCPE ONE is a comprehensive ecosystem designed to empower accounting firms and professionals with a unified suite of essential services. As a strategic platform, MYCPE ONE offers integrated solutions in outsourcing, education, training, marketing, advisory, and industry insights — all in one place.

Contact Information 

Patrick Ross 
Content and Media Manager 
MYCPE ONE 
Patrick@my-cpe.com
6468274348 

Logo: https://mma.prnewswire.com/media/2557901/MYCPE_ONE_Logo.jpg

 

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transcosmos wins 2024 [Golden Headset] Excellent Outsourcing Services of the Year Top 10

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Recognized for outstanding digital service performance in the contact center industry

TOKYO, Nov. 14, 2024 /PRNewswire-PRWeb/ — transcosmos inc. is proud to announce that the company received 2024 [Golden Headset] Annual Excellent Outsourcing Services of the Year Top 10 at the “CCMW 2024 Annual Conference & the 20th [Golden Headset] The Best Customer Center Award Ceremony” held in Beijing, China on October 15, 2024.

The Golden Headset Award is recognized as a leading performance indicator in the customer service center industry. Following the international evaluation standard CC-CMM (Capability Maturity Model)/DO-CMM, CCMW performed performance indicator analysis.

Started in 2005, this year marked the 20th anniversary of the [Golden Headset Award Digital Services and Operations Benchmarking Competition], a competition to determine China’s best customer center, organized by the prestigious institution in the Chinese contact center industry called Customer Care & Management World (CCMW). The Golden Headset Award is recognized as a leading performance indicator in the customer service center industry. Following the international evaluation standard CC-CMM (Capability Maturity Model)/DO-CMM, CCMW performed performance indicator analysis. After receiving applications, CCMW asked for experts’ nominations and went through a rigorous screening process that includes mystery calls, data gathering, benchmarking, on-site assessment, and assessment by a review committee. Ultimately, CCMW chose the award winners based on a comprehensive evaluation on all candidates including their outsourcing service capabilities as well as the number of workstations. Highly recognized for its proven record in contact center digital services, transcosmos was awarded the 2024 [Golden Headset] Annual Excellent Outsourcing Services of the Year Top 10.

As the internet and intelligence technologies continue to evolve, customer service centers are transforming into digital, intelligent and multifunctional contact centers, shifting from the traditional services via phones, emails, and online channels. Against this backdrop, transcosmos has developed “transCxLink,” its proprietary platform built on the company’s unique omnichannel contact centers. “transCxLink” not only creates a seamless process between companies, consumers, and customer service representatives by connecting all kinds of communication channels such as e-commerce platforms, social platforms, voice calls, and online chat, but also comes with abundant features including CRM, intelligent services, marketing systems, speech recognition, auto-reporting, and business insights. With all these features, “transCxLink” meets the needs of companies across all industries. In addition, with the power of large language models, “transCxLink” delivers auto-translation features, enabling businesses to provide multilingual AI-powered customer services without the need for bilingual customer service agents.

As business processes become increasingly complex and highly standardized in every industry, transcosmos enhances CX at every channel by transforming traditional contact centers into digital with the power of “transCxLink,” thereby evolving the centers to ones that reduce costs, boost productivity, and expand sales, generating value for clients.

Invited to the conference, Joseph Wong, VP of Global Business Development, transcosmos delivered speech on the theme of “How Chinese companies can unlock global business opportunities with its digital economy,” representing the company. In his speech, Joseph presented in-depth analysis on the rapid shift to intelligent services and solutions in the contact center and e-commerce industries, and encouraged Chinese local brands to aggressively develop international markets and find new routes for growth. Joseph also introduced transcosmos’s success cases in its global services, giving inspiration to many of the audience.

As a digital transformation partner for clients, transcosmos will drive its efforts for enhancing services in the BPO industry with its innovative solutions and service systems.

■transcosmos history in China
transcosmos entered the Chinese market and launched its offshore services business in 1995. In 2006, the company opened its first call center in Shanghai and started to provide call center services for the Chinese market. Today, transcosmos has its bases and subsidiaries across 24 cities in China including Shanghai, Beijing, Tianjin, Hefei, Xi’an, Changsha, Wuhan, Neijiang, Kunshan, Zhengzhou, Rizhao, Suzhou, Taipei and more. The company offers extensive services such as business process outsourcing (BPO) including contact centers, e-commerce one-stop, customer experience, digital marketing, and system development for both Chinese and global brands.

transcosmos is a trademark or registered trademark of transcosmos inc. in Japan and other countries.Other company names and product or service names used here are trademarks or registered trademarks of respective companies.

About transcosmos inc.
transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 183 bases across 35 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce Services to deliver our clients’ excellent products and services to consumers in 46 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment. Visit us here https://www.trans-cosmos.co.jp/english/

Media Contact

transcosmos inc., transcosmos inc., +81-3-6709-2251, pressroom@trans-cosmos.co.jp, https://www.trans-cosmos.co.jp/english/

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Nota AI® Partners with Alliance Traffic Systems for Strategic Middle East Expansion

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SEOUL, South Korea, Nov. 14, 2024 /PRNewswire/ — Nota AI, a leader in hardware-aware AI optimization and on-device AI solutions, has taken a significant step toward establishing its presence in the Middle East by signing a Memorandum of Understanding (MoU) with Alliance Traffic Systems (ATS). This strategic partnership aims to bring Nota AI’s cutting-edge Intelligent Transportation Systems (ITS) solutions to the region, aligning with its broader vision of expanding technological impact across the Middle East.

 

Alliance Traffic Systems, a key player in the Gulf Cooperation Council (GCC) region, holds particular influence in the UAE’s traffic enforcement infrastructure sector. Since 2008, ATS has managed major traffic projects in Abu Dhabi Emirate, solidifying its role as a leader in providing total traffic management solutions. This extensive track record makes ATS an invaluable partner as Nota AI launches into the Middle Eastern market. Leveraging ATS’s established network, Nota AI will initiate a Proof of Concept (PoC) project with Dubai‘s Road and Transport Authority (RTA), deploying its generative AI and Vision Language Model (VLM)-based ITS solutions. This project will demonstrate Nota AI’s on-device AI capabilities, setting the stage for solutions to urban mobility challenges across the Middle East.

The PoC project’s core ITS solution integrates Vision Language Model (VLM) and multimodal capabilities to process diverse data sources, enabling precise traffic analysis. Powered by Nota AI’s optimized on-device AI technology, this advanced traffic analysis solution can be deployed efficiently across various traffic-related devices, promising substantial improvements in traffic management and bringing meaningful changes to regional conditions in the Middle East.

Myungsu Chae, CEO of Nota AI, remarked, “This PoC project offers a unique opportunity to validate our VLM-based on-device AI solution, delivering real-time traffic analysis in the Middle East. It marks an important milestone in showcasing our global technological and business potential.” Mohammad Al Abbadi, CEO of ATS, added, “This MoU aims to leverage Nota AI’s on-device AI technology to reduce traffic congestion across the Middle East, offering a cost-effective solution for road management.”

Nota AI’s steady expansion in the Middle East has included recent participation in high-profile events such as Expand North Star 2024 and the ITS World Congress 2024. With its strategic partnership with ATS, Nota AI has secured a strong entry point into the Middle Eastern market, drawing on ATS’s extensive expertise in traffic management and infrastructure. This collaboration allows Nota AI to deliver tailored solutions that address the region’s unique transportation needs. Furthermore, through ATS’s established networks with key authorities in Abu Dhabi and Dubai, Nota AI is well-positioned to extend its reach across the Gulf Cooperation Council (GCC) region, laying the foundation for sustainable, long-term growth.

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