IMARC Group’s latest report, titled “Zero-Emission Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global zero-emission aircraft market reached a value of US$ XX Billion in 2021. Zero-emission aircraft refers to a green alternative to propulsion system-based aircraft. It utilizes electric, hydrogen, solar, and hybrid technology as its primary power source and therefore generates no carbon emissions or pollutants in ground and flight operations. It also relies on various technologies and aerodynamic configurations that support the decarbonization of aerospace. As a result, zero-emission aircraft is gaining immense popularity as a potentially sustainable solution for aerospace and allied industries to reduce the harmful environmental impacts of aviation and meet their climate-neutral targets.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Zero-Emission Aircraft Market Trends:
The surging carbon dioxide, water vapor, and nitrogen emissions represent the primary factors driving the market growth. This can be attributed to the growing air traffic due to the increasing passenger and business travel, which further contributes to the rising air pollution levels and global warming. Additionally, governments of various countries are taking favorable initiatives, such as renewing climate change policies, mandating the usage of sustainable aviation fuels (SAF), and increasing the cost of non-biodegradable aviation fuels to reduce emission levels. In line with this, the surging need to minimize the carbon footprint and environmental impact of commercial aircraft, helicopters, satellites, urban air mobility vehicles, and other air transport has augmented the demand for zero-emission aircraft. Furthermore, with the implementation of stringent emission regulations, several key players are investing heavily in research and development (R&D) activities in the field of alternative propulsion concepts, energy sources, sustainable fuels, and new aircraft concepts and components. Along with this, the introduction of hybrid-hydrogen aircraft powered by liquid hydrogen combustion with oxygen through modified gas turbine engines has accelerated the product adoption rate. Besides this, the emerging applications of unmanned prototype aircraft to support emergency services in disaster relief and deliver urgently required goods, such as medicines, food and water, have catalyzed market growth. Other factors, including the shifting focus toward green technology, increasing penetration of electric aircraft, commercialization of light aircraft, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ XX Billion by 2027, expanding at a CAGR of XX% during the forecast period (2022-2027).
- Based on the type, the market has been categorized into turboprop rear bulkhead, turbofan system, and blended wing body.
- On the basis of the source, the market has been segmented into hydrogen, electric, and solar.
- The market has been classified based on the range into short-, medium-, and long-haul ranges.
- Based on the application, the market has been bifurcated into passenger and cargo aircraft.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being AeroDelft, Airbus S.A.S., Bye Aerospace, Eviation Aircraft, HES Energy Systems Pte. Ltd., Joby Aviation, Lilium GmbH, PIPISTREL d.o.o., Wright Electric, and ZeroAvia Inc.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800