The global hydrogen aircraft market is valued at $23.71 billion in 2022 and is projected to reach $144.53 billion by 2027, registering a CAGR of 20.5% from 2022 to 2027.
Hydrogen Aircraft Market Overview
A hydrogen aircraft is an airplane that makes use of hydrogen (liquid or gas) as a power source. Hydrogen energy can be harnessed in two ways for a hydrogen aircraft. It can either be burned in a jet engine or other sorts of internal incineration engines, or it can be used to power a fuel cell to produce electricity to power the propeller of aircraft. Research on hydrogen as a potential fuel to power zero-emission aircraft has been on the rise in the recent years. The aviation sector is working to develop technologies to tackle challenges associated with hydrogen storage, public perceptions for safety, and cost. Hydrogen has significant energy potential since it is much more energy-dense than battery power, its main competitor. A key barrier to uptake is the relative size of fuel tanks needed to contain it and the unconventional engines needed to utilize it. The expansion of these aircraft faces major challenges in terms of technology as well as infrastructure: Expansions need to be made to facilitate the use of hydrogen in commercial aircraft and to improve its viability in terms of long distances. There also needs to be significant investment in the organization to enable hydrogen to be produced and transported in sufficient scopes.
Who are the Major Players in Hydrogen Aircraft Market?
The Global Hydrogen Aircraft Market study report will provide a valuable insight with an emphasis on the global market including some of the major players such as AeroVironment, INC, AeroDelft, Airbus S.A.S, Alaka'i Technologies, HES Energy Systems, PJSC Tupolev, Pipistrel d.o.o, The Boeing Company, ZeroAvia, Inc, Urban Aeronautics Ltd
Industry News and Update
In September 2020, Airbus announced the development of three concept aircraft which are expected to run on hydrogen fuel. The aircraft is expected to be operational by 2035. Airbus also found a new testing facility in Germany that can be used to test these aircraft in the future.
September 2020 - Airbus has revealed three concepts for the world’s first zero-emission commercial aircraft which could enter service. These concepts each represent a different approach to achieving zero-emission flight, exploring various technology pathways and aerodynamic configurations in order to support the company’s ambition of leading the way in the decarbonization of the entire aviation industry.
In March 2021, Aero Delft unveiled the latest prototype for the unmanned Phoenix PT aircraft that is expected to be powered by liquid hydrogen. The aircraft is expected to have a maximum range of 500 kilometers and could fly for seven hours.
What are the major Applications, Types, and Regions for Hydrogen Aircraft Market?
The market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
- Less than 100
- 100-200
- More than 200
By Application, it is segmented into
- Passenger Aircraft
- Cargo Aircraft
- Other
Hydrogen Aircraft Market Regional Analysis
Based on the region, the Europe region is projected to dominate the market during the forecast period. Major countries in this region are the UK, Netherlands, Germany, France, and Russia. The ATI Programmed illustrates a joint government and industry investment worth USD 5.3 billion to operate and grow UK’s competitive position in civil aerospace. The UK government has also funded this program to the H2GEAR program, which focuses on building hydrogen aircraft and is led by key companies like GKN Aerospace. Hence, Europe is expected to account for high hydrogen aircraft market share during the forecast period for the regional segment. Furthermore, according to the US Department of Energy Hydrogen Program, an internal combustion engine runs on 20%-25% energy efficiency. However, fuel cell technology has reached 40% to 60% efficiency, i.e., significantly higher than other alternatives & readily available for hydrogen-based aircraft. Besides, in 2021, Universal Hydrogen began testing hydrogen-powered aircraft with fuel cells in passenger jets. The company received funding of USD 20.5 million in the same year toward developing its first product, lightweight modular capsules, for the transportation of "green hydrogen," to be available for varied Vertical Take-off & Landing platforms.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Hydrogen Aircraft Market report scope?
Scope of the Report covers Hydrogen Aircraft Market with detailed analysis of the overall scenario for the market. It also highlights the business participants' environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this {Product Name} Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.
Key Takeaways from this Hydrogen Aircraft Market Report
- Evaluate Hydrogen Aircraft Market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level - for product types, end-use applications, and by different industries verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.
- Get in-depth insights on your competitor's performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Hydrogen Aircraft Market entropy - M&As, deals, partnerships, product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.
All our reports are custom made to your company's needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
