Press release
Hydrogen Aircraft Market Set to Reach $4.83 Billion by 2029 with 0.219954190978096% Yearly Growth
Hydrogen Aircraft Market
The growth of the hydrogen aircraft market is anticipated to be driven by a surge in global air passenger traffic. The term 'air passenger traffic' encompasses the number of passengers (individuals who have scheduled a flight with a carrier, excluding charter flight services) serviced by airlines worldwide. With an escalating passenger count, the frequency of flights has increased more than ever before, thus contributing to air pollution due to the harmful emissions from aircraft. To mitigate this environmental challenge, hydrogen-based aircraft have emerged as an eco-friendly solution. Based on the International Air Transport Association (IATA) data for March 2022, there was a 76% increase in total traffic (calculated in revenue passenger kilometers or RPKs) in comparison to March 2021. Hence, a rise in aviation will buoy the aviation analytics market.
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What is the projected compound annual growth rate (CAGR) of the hydrogen aircraft market from 2025 to 2034, and what factors influence it?
In recent times, the size of the market for hydrogen aircraft has seen a rapid surge. The market, which was valued at $1.73 billion in 2024, is projected to increase to $2.18 billion in 2025, showing a compound annual growth rate (CAGR) of 25.8%. Factors like stringent environmental regulations, government schemes, an upsurge in air passenger traffic, along with a hike in aerospace expenditure, have significantly contributed to this growth in the past years.
In the coming years, the hydrogen aircraft market is anticipated to witness significant expansion. By 2029, it is projected to reach a value of $4.83 billion, with a compound annual growth rate (CAGR) of 22.0%. The predicted growth during the forecast period can be linked to the rising demand for unmanned aerial vehicles, a burgeoning demand for eco-friendly aviation fuel, an uptick in domestic travel requisites, and growth in emerging markets. Key trends projected for this period are a surge in research and development investments, the hybridization of hydrogen, acquiring sustainability certifications, as well as initiatives on collaborations and partnerships.
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How are the latest trends influencing the growth of the hydrogen aircraft market?
The emergence of hydrogen-powered unmanned aircraft is a notable trend within the hydrogen aircraft sector. Unmanned aerial vehicles (UAVs), which do not carry a human pilot or passengers and are also commonly referred to as 'drones,' can be either fully or partially automated, though they are typically remotely operated by a person. To harness hydrogen as an eco-friendly fuel, many corporations are shifting towards the creation of hydrogen-fueled unmanned aircraft. In January 2022, a partnership emerged between Drone Works, a Japanese drone manufacturer, and H3 Dynamics, an air mobility technology firm from Singapore, to develop a drone powered by hydrogen. The Aerostak hydrogen fuel cell system from H3 Dynamics features a unique grade proton-exchange membrane (PEM) fuel cell stack, control electronics, lightweight casings with integrated air conditioning fans, and a LiPo (lithium-ion polymer)-compatible hybrid electronic board. Compared to drones that rely on lithium batteries, the lightweight hydrogen drone can achieve a greater flight duration.
What are the major segments of the hydrogen aircraft market and their role in driving growth?
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
Subsegments:
1) By Fully Hydrogen Powered Aircraft: Hydrogen Combustion Engines, Hydrogen Turbofan Engines
2) By Hybrid Electric Aircraft: Hydrogen-Electric Hybrid Systems, Battery-Hydrogen Hybrid Systems
3) By Hydrogen Fuel Cell Aircraft: Proton Exchange Membrane Fuel Cells (PEMFC), Solid Oxide Fuel Cells (SOFC)
4) By Liquid Hydrogen Aircraft: Liquid Hydrogen Storage Systems, Cryogenic Liquid Hydrogen Systems
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Which regions are key players in the growth of the hydrogen aircraft market?
North America was the largest region in the hydrogen aircraft market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrogen aircraft market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the key firms paving the way for growth in the hydrogen aircraft market?
Major companies operating in the hydrogen aircraft market include Aerodelft, Airbus SE, Apus Group, Doosan Mobility Innovation, Boeing Company, ZeroAvia Inc., HES Energy Systems Pte. Ltd., Universal Hydrogen Co., Pipistrel d.o.o Ajdovšcina, 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., H2FLY GmbH, Pipistrel Aircraft d.o.o
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What Is Covered In The Hydrogen Aircraft Global Market Report?
•Market Size Forecast: Examine the hydrogen aircraft market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hydrogen aircraft market for a structured understanding.
•Key Players Overview: Analyze major players in the hydrogen aircraft market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hydrogen aircraft market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hydrogen aircraft market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hydrogen aircraft market.
•Industry Challenges: Identify potential risks and obstacles affecting the hydrogen aircraft market.
•Competitive Landscape: Review strategic developments in the hydrogen aircraft market, including expansions, agreements, and new product launches.
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