With 28.9% CAGR, Hydrogen Aircraft Market Trends to Surpass USD 7,427 million

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. The rising demand for hydrogen powered aircraft is due to the technological advancements in aircraft structural design, hydrogen fuel extraction, propulsion systems, fuel cells, improving fuel efficiency, cryogenic storage. The aim of hydrogen aircraft companies is to develop sustainable hydrogen-powered aircraft technology either by collaborating or partnering with the alliances is expected to have further improvements in this field. Further advancements are expected as aircraft OEM manufacturers collaborate or join coalitions around the global to develop sustainable hydrogen aviation technology. The new aircraft applications such as surveillance, defense, urban air mobility etc by new startups are further increasing the developments in the market. The growing interest in developing new environmental-friendly transportation systems has prompted governments and regional unions, such as the European Union (EU), to provide financial and technical assistance to the hydrogen aircraft industry ecosystem.

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"The hydrogen fuel cell segment is projected to lead the hydrogen-powered aircraft market during the forecast period"

The hydrogen aircraft market is segmented into hydrogen combustion and hydrogen fuel cell-based on the power source. The increasing interest on integrating fuel cell technology in aircraft is increasing the demand of the hydrogen fuel cell segment of the hydrogen powered aircraft market.

"The up to 20 km segment is the fastest growing segment in the hydrogen powered aircraft market during the forecast period"

The hydrogen aircraft market is segmented into up to 20 km, 20 km to 100 km, and more than 100 km based on range.The increasing development of hydrogen powered UAVs, surveillance drones, etc are attributed to the growth of this segment with a range up to 20 km.

"The more than 10 passengers segment has the largest market size during the forecast period"

The hydrogen aircraft market is segmented into up to 4 passengers, 5 to 10 passengers, and more than 10 passengers based on passenger capacity. The increasing investments in hydrogen aircraft is expected to increase more than 10 passengers segment.

"Europe: The fastest-growing region for hydrogen powered aircraft market during the forecast period."

Europe is among the fastest-growing regions in the hydrogen aircraft market. Major countries considered in this region are the UK, Germany, France, Netherlands, and Russia. According to an auto evolution article in June 2022, hydrogen aircraft operations are expected to start operations in northean Europe by 2025. Evia Aero, aGerman company situated in Bremen in few years, it plans to begin operating hydrogen-fueled fleets. Cranfield Aerospace Solutions (CAeS), Evia Aero's newest partner, will convert the aircraft to hydrogen-electric propulsion.It plans to begin passenger flights as early as 2025 once it receives the Supplemental Type Certificate (STC). Retrofitting allows hydrogen-powered aircraft to be ready for service much sooner than those designed specifically for a hydrogen-electric powertrain.

In June 2022, Otto Aviation and ZeroAvia teamed up to produce a hydrogen-powered variant of the Celera 500L using the latter's ZA600 zero-emission engines. The Celera 500L was created with a transcontinental range in mind, with operating costs comparable to or better than commercial airline ticket prices per passenger. This requirement necessitates a very low drag throughout the aircraft, as well as a very fuel-efficient motor system. For the wings, fuselage, and tail sections, extensive laminar forms were used to maximize laminar flow and prevent air turbulence, which generates aerodynamic drag and wasted energy.

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Some of the key players operating in the hydrogen powered aircraft market are GKN Aerospace (UK), Urban Aeronautics Ltd (Israel), Airbus SE (Netherlands), ZeroAvia Inc (US),and HES Energy Systems (Singapore). In the hydrogen aircraft market, these companies have benefited due to their well-known brands, a wide range of goods, and strong distribution capabilities.

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This release was published on openPR.