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Hydrogen Aircraft Market Size, Share, and COVID-19 Impact Analysis, By Platform (Unmanned Aerial Vehicles, Air Taxis, Business Jets, and Others), By Power Source (Hydrogen Combustion, and Hydrogen Fuel Cell), By Passenger Capacity (Less than 100, 100-200 and Above 200), By Range (Short Haul (Less than 1000km), Medium Haul (1000km - 2000km), and Long Haul (Above 1000km)) and Regional Forecast, 2024-2032
Report Format: PDF | Published Date: Ongoing | Report ID: FBI108161 | Status : UpcomingThe hydrogen aircraft market is an emerging and promising segment of the aviation industry, driven by the urgent need to reduce greenhouse gas emissions and achieve sustainable aviation. A hydrogen aircraft is an aircraft that utilizes hydrogen as its primary fuel source of propulsion. Hydrogen is considered a promising alternative to conventional fossil fuels in the aviation industry due to its ability to significantly reduce greenhouse gas emissions and dependence on non-renewable energy sources.
Key Market Insights
The increasing awareness of climate change and the need to reduce greenhouse gas emissions has led to a growing demand for eco-friendly transportation options. Hydrogen aircraft offer a sustainable solution as they produce zero carbon emissions during operation which leads to cleaner air and reduced environmental impact. Owing to such advantage the market is expected to grow significantly over the forecast period.
Additionally, governments worldwide are implementing policies and regulations to promote the adoption of sustainable aviation solutions. Incentives, subsidies, and tax benefits are provided to encourage the development and deployment of hydrogen aircraft. These supportive measures play a significant role in driving market growth.
However, certain challenges pertaining to long-haul flights require new aircraft designs for hydrogen. Moreover, integrating hydrogen fuel cell is quite challenging, and it gets heated frequently, requiring efficient cooling equipment and adding more weight to the aircraft. These challenges can restrain the hydrogen aircraft market.
Impact of COVID-19 on the Hydrogen Aircraft Industry
The COVID-19 pandemic led to a sudden halt in the manufacturing industry for a long time. Moreover, all innovation, research, and development projects are halted due to global lockdown restrictions. This caused a substantial delay in the technological development and production of hydrogen aircraft and associated components. The pandemic caused severe supply chain disruptions, dramatically affecting the distribution network and delaying the supply of essential components and raw materials required to manufacture aircraft. This resulted in a significant rise in aircraft and other equipment backlog orders.
The hydrogen aircraft market, by component the market is segmented into unmanned aerial vehicles, air taxis, business jets and others Liquid. By power source the market is bifurcated into hydrogen combustion and hydrogen fuel cell. By passenger capacity the market is segregated into less than 100, 100-200, above 200. By range the market is divided into short haul (less than 1000km), medium haul (1000km - 2000km), long haul (above 2000km).
Key Insights
The report will include the following key insights:
- The report analyzes a detailed industry overview, including qualitative and quantitative information.
- The report analyzes an overview and forecast of the hydrogen aircraft market based on various segments.
- The report also analyzes comprehensive PEST analysis for all five regions, i.e., North America, Europe, Asia Pacific, Rest of the World, after evaluating economic, social, political, and technological factors affecting the impact of the global hydrogen aircraft industry in these regions.
Regional Analysis
North America is expected to lead the hydrogen aircraft market during the forecast period. The market dominance is because of high innovation and technological advancements in the hydrogen aircraft industry. The presence of leading players in hydrogen aircraft production is also a reason for the market dominance. Europe is predicted to have a significant market position, followed by Asia Pacific.
Key Players Covered
The report covers the profiles of key players such as:
- Rolls Royce
- Safran SA
- PIPISTREL
- Hydrogen Energy Systems, LLC
- GKN Aerospace
- Airbus
- Boeing
- Urban Aeronautics Ltd
- Embraer
- Honeywell International Inc.
- Bell Textron Inc.
- ZeroAvia, Inc.
Hydrogen Aircraft Market Segmentation
By Platform | By Power Source | By Passenger Capacity | By Range | By Geography |
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Key Industry Developments
- In March 2023, Worcester Polytechnic Institute (WPI) partnered with Honeywell Aerospace to examine the feasibility of hydrogen fuel cells can help power the next generation of aircraft. The primary agenda of the work is on hydrogen storage and power generation technology for all forms of air travel, including unmanned aerial vehicles.
- In February 2023, Universal Hydrogen was granted a special airworthiness certificate by the Federal Aviation Administration (FAA) for the first flight of its hydrogen-powered regional aircraft. The Dash 8-300 flying testbed has a megawatt-class hydrogen fuel cell powertrain.
- In September 2022, ZeroAvia agreed with Textron Aviation to develop a zero-emission hydrogen-electric powertrain for the Cessna Grand Caravan-208B aircraft. ZeroAvia also obtained a Supplemental Type Certificate (STC) to retrofit the Grand Caravan single-engine utility turboprop with the ZA600 zero-emission powertrain.
- Global
- 2023
- 2019-2022