Hybrid Electric Jet Market Top Companies to Watch Out: Zunum Aero, Boeing HorizonX, Uber Technologies And JetBlue Technology

The Hybrid Electric Jet market is expected to be valued at about US$ 54.00 million in 2022 and is projected to reach US$ 323.30 million by 2026, exhibiting a CAGR of 56.42% during the forecast period, according to Hybrid Electric Jet Market, By Electric Motor Type (Batteries, Solar Cells, Gas-powered, Ultra Capacitors, and Power Cables), By End User (Industrial and Commercial), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights.

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Market Dynamics

High-power electronics are expected to emit an immense amount of heat. A hybrid electric jet emits 50 to 800 KW of heat in flight. This huge amount of heat can have substantial impact on the weight of aircraft, along with its performance, which is expected to restrain hybrid electric jet market growth. Furthermore, hybrid electric jets are significantly lower specific energy as compared to the conventional jets propelled by fossil fuel. Moreover, it has lower sensitivity to atmospheric conditions. These factors are expected to limit the growth opportunity of the global hybrid electric jet market over the forecast period.

The Hybrid Electric Jet market is expected to be valued at about US$ 54.00 million in 2022 and is projected to reach US$ 323.30 million by 2026, exhibiting a CAGR of 56.42% during the forecast period, Increasing need to reduce carbon footprint and aircraft noise are among the key factor driving growth of the global hybrid electric jet market.

Increasing government initiatives regarding the reduction of carbon footprint by adopting certain polices related to environment protection are expected to further influence growth of the hybrid electric jet market. For instance, According to the Energy Information Administration (EIA), in the U.S. the emission of carbon dioxide has reduced to 2.5% in 2015 as compared to 2014. This success is achieved due to the U.S. electricity generation portfolio played a key role decreasing the CO2 emission. Hence, the steps taken to reduce the carbon footprint are expected to drive growth of the hybrid electric jet market over the forecast period.

Hybrid Electric Jet Market Key Driving Factor

Decreasing the green gas emissions such as carbon dioxide, methane, nitrous oxide and among others is the major factor driving growth of the global hybrid electric jet market. The jets using conventional motors results in green gas emissions, which is the major environmental concerns. For instance, according to the Europe Aviation Safety Agency (ESEA), utilization of electric engines in the jet is expected to reduce 75% of Carbon Dioxide (CO2) and 90% of Nitrous Oxide (NOx) along with reduction in the noise levels to 65% by 2050.

Key Trends and Analysis of the Global Hybrid Electric Jet Market:

- On the basis of region, market in North America region is estimated to account for the largest share in the hybrid electric jet market during the forecast period. Economic growth and expansion of commercial as well as defense aviation are factors driving the North American hybrid electric jet market. North America accounted for 30% of all commercial jets worldwide, in 2016. According to Boeing, in 2016, around 7,060 units of new aircraft were delivered in North America and the region will require 8,640 new airplanes over the next 20 years. Moreover growth of the market in North America is attributed to the rise in demand for fuel-efficient aircraft. According to Boeing, 737 jets were scheduled to be delivered in North America in 2017. These are the factors expected to drive regional market growth over the forecast period.

Global Hybrid Electric Jet Market: Regional Insights

Europe is expected to exhibit the highest growth in the market during the forecast period, owing to the presence of large number of manufacturers such as Airbus SE, Rolls Royce, Siemens AG, Boeing, and EasyJet. Europe is projected to retain its dominance in market over the forecast period, owing to increasing number of manufactures, collaboration, and partnerships.

Key players in Hybrid Electric Jet Market:

Major players operating in the global hybrid electric jet market are Zunum Aero, Boeing HorizonX, Uber Technologies Inc, JetBlue Technology, Siemens AG, Airbus SE, Rolls Royce, Lilium, EasyJet Ltd. and Wright Electric.

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Detailed Segmentation:

>By Electric Motor Type:

- Batteries
- Solar Cells
- Gas-powered
- Ultra Capacitors
- Power Cables

>By End-User:

- Industrial
- Commercial

>By region:

- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa

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This release was published on openPR.