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The Hydrogen Aircraft Market Size was valued at USD 308.09 million in 2023 expected to reach USD 2861.67 million by 2032 and grow at a CAGR of 28.10% over the forecast period 2024-2032.
A hydrogen aircraft is an aeroplane that is powered by hydrogen (liquid or gas). A hydrogen aeroplane can use hydrogen energy in two ways. It can be used in a jet engine or other types of internal combustion engines, or it can be used to power a fuel cell, which generates electricity to power an aircraft propeller. Hydrogen research as a potential fuel to power zero-emission aircraft has increased in recent years. The aviation industry is attempting to create technology to address issues such as hydrogen storage, public perceptions of safety, and cost.
MARKET DYNAMICS
KEY DRIVERS
The aviation sector is focusing on decarbonization.
Less carbon emission
RESTRAINTS
High cost
OPPORTUNITIES
Development of Hydrogen Aircraft
Minimum pollution
CHALLENGES
Converting current planes to hydrogen planes
Low temperature requirement
THE IMPACT OF COVID-19
With its rapid global spread, high mortality and closure, and border closure, COVID-19 has significantly reduced the need for worldwide travel. Indeed, COVID-19 is a shift in the tourism industry as a result of a combination of changes in passenger behavior, government travel restrictions, and widespread global economic decline. The corona-virus crisis also contributes to the impact of commercial aviation on climate change beyond reducing the emissions of canceled flights and suspended flights. Improvements in shipping efficiency and a significant increase in the use of sustainable aircraft fuels and hydrogen fuels may be delayed. Technological advances in the development and design of air-frames have contributed to many improvements in fuel efficiency and reduced emissions since the 1950's. NASA's programs in basic and operational research as well as the Federal Aviation Administration's technical development and education relationships with participating airlines continue and have the potential to significantly reduce CO2 and NO2 emissions from new generation aircraft. Many older, less efficient flights parked as part of the access will not be restored to service. In particular, however, the industry is expected to delay acquiring a new aircraft containing technological improvements until demand is met, solvency verification of carrier companies is guaranteed, and the price of aircraft fuel puts pressure on adding evolutionary fuel-saving evolution to ships.
The hydrogen aircraft market is divided into two segments based on power source: hydrogen combustion and hydrogen fuel cell. The expansion of the hydrogen fuel cell segment of the hydrogen aircraft market can be ascribed to its simplicity as well as the availability of a battery backup system. The hydrogen aircraft market is divided into three segments based on passenger capacity: up to four passengers, five to ten passengers, and more than ten passengers. Because of the development of numerous hydrogen aircraft prototypes, the market for up to four passengers is likely to increase at a faster CAGR.
The hydrogen aircraft market is divided into three categories based on range: up to 20 km, 20 km to 100 km, and more than 100 km. The segment of up to 20 kilometers is expected to account for the majority of the total. Drones are predicted to be widely used in the near future (by 2028), driving the growth of the market for up to 20 km segments.
Factors such as increased worldwide air passenger traffic, the high appropriateness of hydrogen as an aviation fuel, and lower greenhouse gas emissions by using hydrogen aircraft are expected to drive expansion in the global hydrogen aircraft market during the forecast period. The existing price gap between hydrogen and conventional jet fuel, on the other hand, is likely to stifle growth in the worldwide hydrogen aircraft market throughout the projection period. Furthermore, the creation of a green hydrogen ecosystem, proactive government activities toward hydrogen powered aircraft, and rise in hydrogen infrastructure development around the world provide profitable prospects for market expansion during the projection period.
By Passenger Capacity
Less Than 100
101 To 200
More Than 200
By Range
Short Haul
Medium Haul
Long Haul
By Application
Passenger Aircraft
Cargo Aircraft
By Power Source
Fully Hydrogen Powered Aircraft
Hybrid Electric Aircraft
Hydrogen Fuel Cell Aircraft
Liquid Hydrogen Aircraft
REGIONAL ANALYSIS
The market for hydrogen aircraft has been researched in North America, Europe, Asia Pacific, and the rest of the world. North America is expected to have the highest share of the worldwide market. During the forecast period, the Asia Pacific and Rest of the World areas are expected to increase slowly. Canada and The United States are major countries in this region. During the forecast period, the United States is expected to lead the North American hydrogen aircraft market. Various studies and advancements are being conducted by government and business institutes to investigate and commercialize hydrogen aviation systems.
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REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are ZeroAvia Inc, Airbus SE, HES Energy Systems, GKN Aerospace,Urban Aeronautics Ltd., Alisport Srl, BAE systems, URBAN AERONAUTICS LTD, Airspace Experience Technologies, Inc., and Other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 308.09 Million |
| Market Size by 2032 | US$ 2861.67 Million |
| CAGR | CAGR of 28.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Range (Short Haul (< 1000 Km), Medium Haul (1000-2000 Km), Long Haul (2000+ Km)) • By Passenger Capacity (Less Than 100, 101 To 200 And More Than 200) • By Power Source (Fully Hydrogen Powered Aircraft, Hybrid Electric Aircraft, Hydrogen Fuel Cell Aircraft and Liquid Hydrogen Aircraft) • By Application (Passenger Aircraft and Cargo Aircraft) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | ZeroAvia Inc, Airbus SE, HES Energy Systems, GKN Aerospace,Urban Aeronautics Ltd., Alisport Srl, BAE systems, URBAN AERONAUTICS LTD, Airspace Experience Technologies, Inc. |
| DRIVERS | • The aviation sector is focusing on decarbonization. • Less carbon emission |
| RESTRAINTS | • High cost |
A hydrogen aircraft is an aeroplane that is powered by hydrogen (liquid or gas). A hydrogen aeroplane can use hydrogen energy in two ways. It can be used in a jet engine or other types of internal combustion engines, or it can be used to power a fuel cell, which generates electricity to power an aircraft propeller.
The expected CAGR of the Hydrogen Aircraft Market is 3.1% during the forecast period 2023-2030.
The leading players in the Hydrogen Aircraft Market include ZeroAvia Inc, Airbus SE, HES Energy Systems, GKN Aerospace, Urban Aeronautics Ltd., Alisport Srl, BAE systems, URBAN AERONAUTICS LTD, Airspace Experience Technologies, Inc., and ZEROAVIA INC.
The market size for the Hydrogen Aircraft Market was valued at USD 5.15 billion in 2022.
North America region dominated the Hydrogen Aircraft Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Hydrogen Aircraft Market Segmentation, By Passenger Capacity
8.1 Less than 100
8.2 101 to 200
8.3 More Than 200
9. Global Hydrogen Aircraft Market Segmentation, By Range
9.1 Short Haul (< 1000 Km)
9.2 Medium Haul (1000-2000 Km)
9.3 Long Haul (2000+ Km)
10. Global Hydrogen Aircraft Market Segmentation, By Application
10.1 Passenger Aircraft
10.2 Cargo Aircraft
11. Global Hydrogen Aircraft Market Segmentation, By Power Source
11.1 Fully Hydrogen-Powered Aircraft
11.2 Hybrid Electric Aircraft
11.3 Hydrogen Fuel Cell Aircraft
11.4 Liquid Hydrogen Aircraft
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 ZeroAvia Inc
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Airbus SE
13.3 HES Energy Systems
13.4 GKN Aerospace
13.5 Urban Aeronautics Ltd.
13.6 Alisport Srl
13.7 BAE systems
13.8 URBAN AERONAUTICS LTD
13.9 Airspace Experience Technologies, Inc.
13.10 Other Players
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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