Hydrogen Aircraft Market Booms Globally, to Register 20.2% CAGR By 2040: Allied Market Research
As per the report published by Allied Market Research, the global hydrogen aircraft market is expected to reach $27.68 billion by 2030, and would hit $174.02 billion by 2040 with a CAGR of 20.2% from 2030 to 2040. The report highlights the key segments, top investment pockets, growth by segmentation, and competitive scenario.
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Mayank Halmare, Lead Analyst, Aerospace and Defense at Allied Market Research, highlighted, “By passenger capacity, the Less than 100 segment is expected to dominate the global hydrogen aircraft market in 2030, in terms of revenue, and to lead the market throughout the forecast period. By range, the short haul segment is anticipated to incur the higher share. By application, passenger aircraft segment is anticipated to dominate the hydrogen aircraft market in 2040, in terms of revenue. In 2030, Europe is expected to be the highest revenue contributor, followed by North America.”
Based on region, the market across Europe is projected to garner highest revenue share in 2030, with more than half of the global market. On the other hand, the Asia-Pacific region is anticipated to manifest the fastest CAGR of 22.80% throughout the forecast period.
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• The outbreak of COVID-19 immensely affected the manufacturing services of hydrogen aircrafts.
• The emergency during the pandemic has led to force the governments across the globe to prioritize medical services. Owing to which, the countries have directed most of the capital in the healthcare industry. This has declined the investment in the hydrogen aircraft sector.
The global hydrogen aircraft market is segmented on the basis of passenger capacity, range, and application. Based on passenger capacity, the less than 100 segment is anticipated to account for more than three-fourths of the global market share in 2030, and would rule the roost by 2040. However, the 101-200 segment is projected to manifest the fastest CAGR of 22.30% during the forecast period.
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Based on range, the short haul segment is expected to hold nearly half of the global market revenue in 2030, and would rule the roost by the end of 2040. At the same time, the medium haul segment is anticipated to showcase the fastest CAGR of 21.10% by 2040.
Key market players profiled in the report include AeroDelft, AEROVIRONMENT, INC., Airbus S.A.S., Alaka’i Technologies, HES Energy Systems, Pipistrel d.o.o, PJSC Tupolev, The Boeing Company, Urban Aeronautics Ltd, and ZeroAvia, Inc.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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