Press release
Zero-Emission Aircraft Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Zero-Emission Aircraft Market Size
The escalation in air traffic is set to boost the zero-emission aircraft market's growth moving forward. Air traffic encompasses the operation of aircraft within defined airspace and airports, covering all flight categories such as commercial, cargo, and private aviation. The surge in air traffic is due to several main factors like economic growth, globalization, and a growth in tourism. Zero-emission aircraft provide a greener alternative to traditional aircraft, addressing concerns about climate change and rendering air travel more attractive to environmentally sensitive travelers and regulators. For example, the Bureau of Transportation Statistics, a government agency in the US, reported in March 2023 that passenger numbers on American airlines increased by 30%, going from 658 million in 2021 to 853 million in 2022. Consequently, this rise in air traffic is fuelling the growth of the zero-emission aircraft market moving forward.
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What is the future CAGR of the zero-emission aircraft market, and how will it impact industry expansion?
Over the past few years, the market size of zero-emission aircraft has experienced fast-paced growth. It is projected to expand from $24.04 billion in 2024 to $28.2 billion in 2025, with a compound annual growth rate (CAGR) of 17.3%. The historical growth trajectory of this market can be attributed to factors such as strict environmental regulations, improvements in electric propulsion technology, raising climate change apprehensions, public awareness, societal pressure, and demonstration initiatives.
The market for zero-emission aircraft is projected to experience swift expansion in the coming years, reaching a size of $49.69 billion by 2029 with a 15.2% compound annual growth rate. This predicted growth during the forecast period could be driven by the needs of the market for eco-friendly transportation, governmental support for green aviation, the shift towards urban air mobility, the revival of global air travel, the establishment of normalized regulations, and the arrival of sustainable aviation fuels. Key trends for this projection include the technological advancements in the aerospace field, improved battery technologies, solutions surrounding hybrid-electric aircraft, the development of hydrogen-fueled aircraft, the emergence of zero-emission regional aviation, and technological partnerships.
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What are the most significant trends transforming the zero-emission aircraft market today?
The emergence and growth of electric aircraft technologies are becoming a leading trend in the zero-emission aircraft market. Such electric aircraft are powered by batteries which drive an electric motor, replacing the traditional use of jet fuel. Firms participating in this market are unveiling novel battery-powered aircrafts to maintain their market prominence. An apt illustration of this is the launch of Alice, an unprecedented all-electical passenger aircraft by Eviation Aircraft - an Israeli company specialising in electric aircraft development, in September 2022. Alice, a nine-passenger electric plane utilizes a battery technology comparable to those found in electric cars and cellphones. After a brief 30-minute charge, Alice can remain in flight for up to 2 hours, signifying a hopeful evolution in the aviation sector as it strives for more sustainable and eco-friendly modes of air travel.
Which key market segments comprise the zero-emission aircraft market and drive its revenue growth?
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
Subsegments:
1) By Turboprop Rear Bulkhead: Structural Components, Engine Integration Systems, Aerodynamic Features
2) By Turbofan System: Engine Components, Fuel Efficiency Mechanisms, Noise Reduction Technologies
3) By Blended Wing Body: Aerodynamic Design Features, Structural Materials, Engine Placement Systems
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What regions are at the forefront of zero-emission aircraft market expansion?
Europe was the largest region in the zero-emission aircraft market in 2024. The regions covered in the zero-emission aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the zero-emission aircraft market?
Major companies operating in the zero-emission aircraft market include 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, Embraer SA, Faradair Aerospace Limited, Beta Technologies
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What Is Covered In The Zero-Emission Aircraft Global Market Report?
• Market Size Forecast: Examine the zero-emission aircraft market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the zero-emission aircraft market for a structured understanding.
• Key Players Overview: Analyze major players in the zero-emission aircraft market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the zero-emission aircraft market.
• Segment Contributions: Evaluate how different segments drive overall growth in the zero-emission aircraft market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the zero-emission aircraft market.
• Industry Challenges: Identify potential risks and obstacles affecting the zero-emission aircraft market.
• Competitive Landscape: Review strategic developments in the zero-emission aircraft market, including expansions, agreements, and new product launches.
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