Press release
Zero-Emission Aircraft Global Market Analysis Development Trends, Industry Growth Opportunities, Regional Demand and Forecast 2024-2033 | AeroDelft, Airbus SE, Bye Aerospace, Eviation Aircraft, Joby Aviation
The zero-emission aircraft market size has grown rapidly in recent years. It will grow from $20.82 billion in 2023 to $24.5 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to environmental regulations, advancements in electric propulsio, increased concerns about climate change, public awareness and pressure, demonstration projects.The zero-emission aircraft market size is expected to see rapid growth in the next few years. It will grow to $44.01 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to market demand for sustainable travel, government funding for green aviation, transition to urban air mobility, global air travel recovery, standardization of regulations, emergence of sustainable aviation fuels. Major trends in the forecast period include technological innovation in aerospace, evolution of battery technologies, hybrid-electric aircraft solutions, hydrogen-powered aircraft, zero-emission regional aviation, technological collaboration.
Market Overview -
Zero-emission aircraft refers to aircraft that produce no greenhouse gas emissions during operation, such as carbon dioxide or methane. A zero-emission aircraft provides a sustainable alternative to conventional aircraft, reducing air travel's carbon footprint.
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Elevating Aviation Sustainability Zero-Emission Aircraft Market Surges In Response To Stringent Emission Regulations
The increasing stringency of the emission regulations is expected to propel the growth of the zero-emission aircraft market going forward. Stringency on aircraft emission regulations refers to the degree of strictness or severity of rules and policies that aim to decrease greenhouse gas emissions and other harmful substances that originate from aircraft. Zero-emission aircraft propulsion systems produce no emissions during operation due to hydrogen-powered engines, including greenhouse gases and other harmful pollutants. For instance, in February 2021, according to the International Council on Clean Transportation, a US-based non-profit research organization, the U.S. Environmental Protection Agency (EPA) implemented its first federal policy in 2021. It regulates greenhouse gas emissions from commercial aircraft. Similarly, the International Civil Aviation Organization (ICAO), a Canada-based specialized agency had set a goal of reducing CO2 emissions from aviation by 2% per year from 2020 and achieving carbon-neutral growth improvement by 2050. Therefore, the increasing stringency of the emission regulations is driving the growth of the zero-emission aircraft market going forward.
Competitive Landscape -
Major companies operating in the zero-emission aircraft market report are AeroDelft, Airbus SE, Bye Aerospace, Eviation Aircraft, Joby Aviation, Lilium GmbH, Wright Electric, Boeing Company, Northrop Grumman Corporation, SpaceX Aerospace Company, ZeroAvia Inc., MagniX, Zunum Aero, SkyDrive Inc., Pipistrel d.o.o., HyPoint Inc., Wisk Aero, XTI Aircraft Company, Rolls-Royce plc, Ampaire Inc., Alaka'i Technologies, Volocopter GmbH, Vertical Aerospace, H55, Heart Aerospace, Scaled Composites, Electric Power Systems, Embraer SA, Faradair Aerospace Limited, Beta Technologies
Revolutionizing Aviation Eviation Aircraft Unveils 'Alice,' A Groundbreaking All-Electric Passenger Aircraft, Driving The Trend In Zero-Emission Aircraft Technologies
Electric aircraft technologies are a key trend gaining popularity in the zero-emission aircraft market. Electric aircraft refers to aircraft types that utilize batteries to power an electric motor instead of jet fuel. Companies operating in the zero-emission aircraft market are launching innovative aircraft using battery technology to sustain their position in the market. For instance, in September 2022, Eviation Aircraft, an Israeli-based developing electric aircraft, launched Alice, a first-of-its-kind all-electric passenger aircraft. It is a nine-passenger electric aircraft with battery technology similar to electric cars or cell phones. With just 30 minutes of charging, the Alice can fly for up to 2 hours, making it a promising development in the aviation industry's pursuit of more sustainable and environmentally-friendly air travel.
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Key Segments -
The zero-emission aircraft market covered in this report is segmented -
1) By Type: Turboprop Rear Bulkhead, Turbofan System, Blended Wing Body
2) By Source: Hydrogen, Electric, Solar
3) By Range: Short-Haul, Medium-Haul, Long-Haul
4) By Technology: Electric Motor Technology, Fuel Cell Technology, Hydrogen Fuel Storage, Power Management And Distribution Technology, Other Technology
5) By Application: Passenger Aircraft, Cargo Aircraft
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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