Press release
Hydrogen Aircraft Global Market Overview, Driving Factors, Future Trends, Key Players and Growth Opportunities And Forecast By 2033 | Airbus SE, Apus Group, Boeing Company, ZeroAvia Inc., Joby Aviation Inc.
Hydrogen Aircraft Market
The hydrogen aircraft market size is expected to see exponential growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to increasing demand for unmanned aerial vehicles, growing demand for sustainable aviation fuel, increasing demand for domestic travel, emerging market growth. Major trends in the forecast period include increased investment in research and development, hydrogen hybridization, sustainability certifications, collaboration and partnerships.
Market Overview -
Hydrogen aircraft use hydrogen fuel to run an airplane. A hydrogen airplane may use hydrogen energy in two different ways. Hydrogen may be consumed in a jet engine or another internal combustion engine, or it can be utilized to power a propeller using a fuel cell. Hydrogen-powered planes have hydrogen fuel tanks built within the fuselage to store fuel.
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Growth In Air Passenger Traffic Expected To Boost Hydrogen Aircraft Market
An increase in air passenger traffic across the globe is expected to propel the growth of the hydrogen aircraft market. Air passenger traffic refers to scheduled passengers (number of people who have booked a flight with a commercial airline, excluding charter flights) handled by the global airline industry. With the rising number of passengers, more flights are in operation than ever before, leading to pollution due to the emittance of harmful gases by aircraft. To overcome the problem of pollution, hydrogen-based aircraft comes out to be a clean option. According to the International Air Transport Association (IATA) passenger data for March 2022, total traffic in March 2022 (measured in revenue passenger kilometers or RPKs) was up 76% compared to March 2021. Thus, an increase in aviation will drive the aviation analytics market.
Competitive Landscape -
Major companies operating in the hydrogen aircraft market include Aerodelft, Aerovironment Inc., Airbus SE, Apus Group, Doosan Mobility Innovation, Boeing Company, ZeroAvia Inc., HES Energy Systems Pte. Ltd., Universal Hydrogen Co., Vertical Aerospace Ltd., Pipistrel d.o.o Ajdovščina, Eviation Aircraft Ltd., MagniX USA Inc., Urban Aeronautics Ltd., Joby Aviation Inc., GKN Aerospace Ltd., Reaction Engines Ltd., Embraer SA, Ravn X, Alaka'i Technologies Co., SkyDrive Inc., HyPoint Inc., Faradair AeroSpace Ltd., Element One Inc., Rolls-Royce Plc, Terrafugia Corp., Groupe ADP, FlyEco Pvt. Ltd., Deutsche Regional Aircraft GmbH, H2FLY GmbH, Pipistrel Aircraft d.o.o
Development Of Hydrogen-Powered Unmanned Aircraft
The development of unmanned aircraft powered by hydrogen is a key trend in the hydrogen aircraft market. Unmanned aerial vehicles (UAVs) are aircraft that do not have a human pilot or passengers. UAVs, sometimes known as 'drones,' can be totally or partially automated, but they are generally piloted remotely by a human. Many companies are moving towards developing unmanned aircraft powered by hydrogen to leverage hydrogen as a sustainable fuel source. In January 2022, Drone Works, a Japanese drone company, partnered with H3 Dynamics, a Singapore-based air mobility technology company, to build a hydrogen-powered drone. H3 Dynamics' Aerostak hydrogen fuel cell system contains a special grade proton-exchange membrane (PEM) fuel cell stack, control electronics, lightweight enclosures with integrated air conditioning fans, and a LiPo (lithium-ion polymer)-compatible hybrid electronic board. The lightweight hydrogen-powered drone can fly longer than drones powered by lithium batteries.
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Key Segments -
The hydrogen aircraft market covered in this report is segmented -
1) By Technology: Fully Hydrogen Powered Aircraft, Hybrid Electric Aircraft, Hydrogen Fuel Cell Aircraft, Liquid Hydrogen Aircraft
2) By Power Source: Hydrogen Combustion, Hydrogen Fuel Cell
3) By Range: 20 Km To 100 Km, More Than 100 Km, Up To 20 Km
4) By Platform: Air Taxis, Business Jets, Unmanned Aerial Vehicles
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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