According to IMARC Group’s latest report, titled “Hydrogen Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” the study provides a detailed analysis of the industry, including the global hydrogen aircraft market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Hydrogen Aircraft Market?

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.

What is Hydrogen Aircraft?

Hydrogen aircraft, also known as hydrogen-powered aircraft or hydrogen-fueled aircraft, refer to aircraft that utilize hydrogen as their primary fuel source for propulsion. These aircraft aim to reduce carbon emissions and environmental impact by replacing conventional fossil fuel-based engines with hydrogen fuel cells or hydrogen combustion engines. Hydrogen has a high energy density, which allows for longer flight durations and improved efficiency as compared to traditional aviation fuels. Some notable features of hydrogen aircraft include quieter operations due to the absence of combustion noise, reduced vibrations, and potential weight savings. At present, hydrogen aircraft find applications across various industries, such as aviation and military.

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Global Hydrogen Aircraft Market Trends:

The rising awareness regarding environmental concerns represents one of the key factors driving the market growth. In line with this, there is an increasing need for curbing greenhouse gas (GHG) emissions is facilitating the demand for environmentally friendly solutions across industries, which is contributing to the market growth. Moreover, governments of many countries and the aviation industry stakeholders are actively promoting decarbonization initiatives, leading to increased investment in hydrogen aircraft development, which, in turn, is inducing the market growth.

The ongoing advancements in hydrogen fuel cell technology and aircraft design are making hydrogen aircraft more efficient, reliable, and feasible, which is boosting the market growth. Hydrogen’s high energy density allows for longer flight durations, thus making it suitable for applications, such as long-haul flights, aerial surveys, and unmanned aerial vehicles (UAVs), thereby fueling the market growth. Hydrogen aircraft produce significantly lower noise levels as compared to conventional aircraft, thus making them suitable for noise-sensitive areas and urban environments. This is driving the market growth. Besides this, the rising demand among environmentally conscious consumers for greener travel options is enabling the market growth of hydrogen aircraft. Collaborative efforts between countries, research institutions, and aerospace companies are fostering innovation, knowledge sharing and growth in the hydrogen aircraft market. The market is also being driven by the expanding applications of hydrogen aircraft.

For instance, hydrogen aircraft could initially be used for short-haul flights or regional air travel due to the limitations of hydrogen storage and refueling infrastructure. However, significant technological advancements are now enabling the more efficient and expanding applications of hydrogen aircraft. This, along with various infrastructural developments is acting as a major growth-inducing factor. The development and commercialization of hydrogen aircraft is generating new employment opportunities and is contributing to the growth of the market. Other factors, such as favorable government initiatives, support, and incentives, along with extensive research and development (R&D) activities, rapid urbanization, growing concerns regarding mitigating the impact of climate change, and increasing expenditure in the aviation and military industries, are creating a positive outlook for the market further across the globe.

Who are the key players operating in the industry?

The report covers the major market players including:

• 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

• ZeroAvia Inc.

What is included in market segmentation?

The report has segmented the market into the following categories:

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)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key Highlights of the Report:

• Market Performance (2016-2021)

• Market Outlook (2022-2027)

• Market Trends

• Market Drivers and Success Factors

• The Impact of COVID-19 on the Global Market

• Value Chain Analysis

• Structure of the Global Market

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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