Growing Environmental Concerns Arising from Increased Fuel Consumption, to Drive Global Hybrid Aircraft Market to Reach Up to US$ 930.43 Mn by 2022

Hybrid Aircraft is anticipated to register US$ 930.43 Mn by 2022. In accordance, to the Absolute Markets Insights latest report, ‘‘Hybrid Aircraft Market by Type (Dynastats, Rotastats); by Technology (Manned Hybrid Aircraft, Unmanned Hybrid Aircraft); by Application (Commercial Tours, Surveillance, Research, Cargo Transport, Others); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018-2026’. The author of the report analyzed that the global hybrid aircraft market accounted for US$ 592.61 million in 2017.

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Growing environmental concerns for efficient fuel consumption and minimization of harmful gas emission has fortuned the hybrid aircraft market to grow. The dynamic hybrid aircraft, evolved from the traditional air ships, are modelled with dynastats and rotastats to provide aerodynamic and buoyancy lift. In addition, the aircraft is equipped with electric battery, solar cell antennas, hydro carbon powered engines and light weight gases. Thus, enabling it to be an efficient environment friendly airship. Further, the development for hybrid aircraft requires high research and development costs. Owing to the high funded facilities, developing and underdeveloped countries are restraining themselves for the evolved dynamic aircraft model. However, applications such as long endurance flight capacity and lifting of heavy cargo loads and personnel to and from remote locations surges the demand for the market to grow.

Manned Hybrid Estimated to Be the Dominant Segments During the Period 2018-2026.
The efficient fuel efficiency and hybrid winged enables the airship to maintain in different altitudes for longer durations. Manned hybrid aircraft dominates the technology segment of the market owing to its operational efficiency for commercial purpose. The growing trend of vertical takeoff and landing provision with the advancement of technology, has enabled this market to gain traction globally.

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Increase in investments for research and development by the companies in North America to drive the hybrid aircraft market.
The North America region holds the major market share for the market among other regions. The investments, collaborations and product development by the companies for the defense and aerospace industry in U.S. ascribes the region to grow. For instance, companies such as ILC Dover and Lockheed Martin Corporation are investing to provide dynamic hybrid aircraft system for the U.S army.

Hybrid Aircraft Market is Fragmented with the Presence of Global and Regional Players
Some of the primary participants operating in the market are Boeing, ILC Dover, Hybrid Air Vehicles Limited, Egan Airships, Lockheed Martin Corporation, Straightline Aviation, RosAeroSystems, Aeros, Airbus, Solar Ship Inc., AeroVehicles Inc., Northrop Grumman Corporation, Lindstrand Technologies Ltd. In June 2017, Solar Ship Inc. in partnership with Zenair Ltd. started working on a new electric bush plane.

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• Hybrid Aircraft Market – By Type
o Dynastats
o Rotastats

• Hybrid Aircraft Market – By Technology
o Manned Hybrid Aircraft
o Unmanned Hybrid Aircraft

• Hybrid Aircraft Market – By Application
o Commercial Tours
o Surveillance, Research
o Cargo Transport
o Others

• Market By Region
• North America
o U.S.
o Rest of North America
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Southeast Asia
o Rest of Asia Pacific
• Middle East and Africa
o GCC Countries
o Southern Africa
o Rest of Middle East and Africa
• Latin America
o Brazil
o Rest of Latin America

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This release was published on openPR.