Hydrogen Aircraft Market

Market Overview:

The global hydrogen aircraft market reached a value of US$ 4.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.15 Billion by 2027, exhibiting at a CAGR of 17.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Hydrogen aircraft refers to an aircraft that uses liquid or gaseous hydrogen as a power source. It is harnessed by burning hydrogen gas in jet or internal combustion (IC) engines or by powering fuel cells that generate electricity to power the propeller of the aircraft. These aircraft are widely used for commercial and cargo transportation applications for short, medium and long hauls. In comparison to the traditionally used aircraft that utilize kerosene, hydrogen aircraft are environment-friendly and cause zero emissions of carbon dioxide, nitric oxide and nitrogen oxide, sulfur oxides and soot. In addition, they are also characterized by exceptional gravimetric and volumetric energy density.

Hydrogen Aircraft Market Trends:

Significant growth in the aviation industry across the globe is one of the key factors driving the growth of the market. Moreover, the rising environmental consciousness among the masses is providing a thrust to the market growth. Hydrogen aircraft are being widely used as an effective alternative to jet-fuel aircraft as they offer various benefits, such as convenient availability of the fuel source, minimal pollution and weight and enhanced safety of the passengers and cargo. Government and private organizations are also increasingly acquiring hydrogen aircraft to meet the air transport requirements. Additionally, various technological advancements, such as the launch of hydrogen fuel cell-based unmanned aerial vehicles (UAVs), air taxis and business jets, are also contributing to the growth of the market. UAVs and drones are widely used for conducting surveillance operations and military activities with enhanced efficiency. Other factors, including the implementation of favorable government policies, along with the increasing air traffic, especially in the developing economies, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hydrogen aircraft market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on passenger capacity, range, technology and application.

Breakup by Passenger Capacity:

• Less than 100
• 101 to 200
• More than 200
   

Breakup by Range:

• Short Haul
• Medium Haul
• Long Haul
   

Breakup by Technology:

• Fully Hydrogen-Powered Aircraft
• Hybrid Electric Aircraft
   

Breakup by Application:

• Passenger Aircraft
• Cargo Aircraft
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AeroVironment Inc., Air Liquide S.A., Airbus SE, Alaka’i Technologies, GKN Aerospace Services Limited, HES Energy Systems, Pipistrel d.o.o, Raytheon Technologies Corporation, Stichting AeroDelft, The Boeing Company, Urban Aeronautics Ltd and ZeroAvia Inc.

Report Coverage:

Key Questions Answered in This Report:

• How has the global hydrogen aircraft market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global hydrogen aircraft market?
• What are the key regional markets?
• What is the breakup of the market based on the passenger capacity?
• What is the breakup of the market based on the range?
• What is the breakup of the market based on the technology?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global hydrogen aircraft market and who are the key players?
• What is the degree of competition in the industry?