Hydrogen Aircraft Market worth $7,427 million by 2030

According to a research report "Hydrogen Aircraft Market by Power Source (Hydrogen Combustion, Hydrogen Fuel Cell), Platform (Unmanned Aerial Vehicles, Air Taxis, and Business Jets), Range, Passenger Capacity, Technology, and Region - Global Forecast to 2030", published by MarketsandMarkets, The hydrogen aircraft market is estimated to be USD 143 million in 2020 and is projected to reach USD 7,427 million by 2030, at a CAGR of 28.9% from 2025 to 2030. Recent technological advancements in propulsion systems, fuel cells, improving fuel efficiency, cryogenic storage, hydrogen fuel extraction, and aircraft structural design specifically for hydrogen powered aircraft have defined the era of hydrogen powered aircraft. Further improvements are expected as aircraft OEMs are increasingly collaborating or are part of alliances globally that aim to develop sustainable hydrogen aircraft technology. New startups are further propelling the developments in the market as they develop new concepts related to aircraft applications such as urban air mobility, surveillance, defense, etc. The increasing emphasis on developing new eco-friendly transportation systems has also prompted the governments and regional unions such as the European Union (EU) to support these developments in the form of funds or assistance in developing the hydrogen aircraft industry ecosystem.

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Based on power source, the hydrogen fuel cell segment projected to lead the hydrogen aircraft market during the forecast period

Based on power source, the hydrogen aircraft market is segmented into hydrogen combustion and hydrogen fuel cell. The growth of the hydrogen fuel cell segment of the hydrogen aircraft market can be attributed to the increasing focus on integrating fuel cell technology in aircraft.

Based on range, the up to 20 km segment projected to lead the hydrogen aircraft market during the forecast period

Based on range, the hydrogen aircraft market is segmented into up to 20 km, 20 km to 100 km, and more than 100 km. The 20 km to 100 km segment is expected to grow at a higher CAGR, owing to the increase in the developments in hydrogen aircraft market.

Based on passenger capacity, the more than 10 passengers segment accounts for the largest market size during the forecast period

Based on passenger capacity, the hydrogen aircraft market is segmented into up to 4 passengers, 5 to 10 passengers, and more than 10 passengers. The more than 10 passengers is estimated to account for a larger share in 2030. The growth of the more than 10 passengers segment can be attributed to the increased investments in hydrogen aircraft.

“Europe is expected to be the fastest-growing region for hydrogen aircraft market during the forecast period.”

Europe is among the fastest-growing regions for the hydrogen aircraft market Major countries considered in this region are the UK, Germany, France, Netherlands, and Russia. The UK is projected to lead the European hydrogen aircraft market during the forecast period. The ATI Programme represents a joint government and industry investment worth USD 5.3 billion to maintain and grow UKs competitive position in civil aerospace. The UK government has also provided some funding from this program to the H2GEAR programme which aims to build hydrogen aircraft and is led by leading companies such as GKN Aerospace.

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Some of the players operating in the hydrogen aircraft market are Airbus SE (Netherlands), GKN Aerospace (UK), Urban Aeronautics Ltd (Israel), HES Energy Systems (Singapore), and ZeroAvia Inc (US) are industry majors and have largely benefitted from their well-recognized brands, a wide range of products, and strong distribution capabilities in the hydrogen aircraft market.

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This release was published on openPR.