According to IMARC Group’s latest report, titled “Hydrogen Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” the global hydrogen aircraft market reached a value of US$ 4.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.15 Billion by 2027, exhibiting at a CAGR of 17.20% during 2022-2027.
A hydrogen aircraft is an aircraft that utilizes hydrogen fuel as a power source. Hydrogen can either be burned in a jet engine or another type of internal combustion engine or can be employed to power a fuel cell to produce electricity to power a propeller. It cannot be kept in a wet wing, and voluminous hydrogen tanks must be housed in the fuselage or be backed by the wing. These aircraft are extensively employed for commercial and cargo transportation uses for short, medium, or long hauls.
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Hydrogen Aircraft Market Trends:
The significantly expanding aviation industry represents a significant factor driving the market growth across the globe. In line with this, the shifting focus of the aviation industry toward de-carbonization, along with the rising awareness about the advantages of hydrogen aircraft as compared to traditional ones and the rising number of air passengers, are contributing to the market growth. The market is also driven by the growing government initiatives to reduce carbon footprint and the widespread adoption of sustainable and eco-friendly commute solutions. Other factors, such as increasing investments in the research and development (R&D) activities and significant technological advancements, are creating a positive outlook for the market across the globe.
Who are the key players operating in the industry?
The report covers the major market players including:
- AeroVironment Inc.
- Air Liquide S.A.
- Airbus SE
- Alaka’i Technologies
- GKN Aerospace Services Limited
- HES Energy Systems
- Pipistrel d.o.o
- Raytheon Technologies Corporation
- Stichting AeroDelft
- The Boeing Company
- Urban Aeronautics Ltd
- ZeroAvia Inc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Passenger Capacity:
- Less than 100
- 101 to 200
- More than 200
Breakup by Range:
- Short Haul
- Medium Haul
- Long Haul
Breakup by Technology:
- Fully Hydrogen-Powered Aircraft
- Hybrid Electric Aircraft
Breakup by Application:
- Passenger Aircraft
- Cargo Aircraft
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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