The growth of the global hydrogen aircraft market is driven by
factors such as increase in air passenger traffic across the globe,
high suitability of hydrogen as an aviation fuel, and rise in the
environmental awareness and zero emission targets.
PORTLAND, Ore., July 8, 2024
/PRNewswire/ -- Allied Market Research published a report, titled,
"Hydrogen Aircraft Market by Passenger
Capacity (Less than 100, 101 to 200, More than 200), Range (Short
Haul (Less Than 1000 Km), Medium Haul (1000 to 2000 Km), Long Haul
(Above 2000 Km)), Application (Passenger Aircraft and Cargo
aircraft), Power Source (Liquid Hydrogen Aircraft, Fully Hydrogen
Powered Aircraft, Hybrid Electric Aircraft, and Hydrogen Fuel Cell
Aircraft), and Power Output (0 to 100 KW, 100 KW to 1 MW, and 1 MW
and Above): Global Opportunity Analysis and Industry Forecast,
2030-2050". According to the report, the hydrogen aircraft
market was valued at $27.7 billion in
2030, and is estimated to reach $489
billion by 2050, growing at a CAGR of 15.4% from 2030 to
2050.
The growth of the global hydrogen aircraft market is driven by
factors such as increase in air passenger traffic across the globe,
high suitability of hydrogen as an aviation fuel, and rise in the
environmental awareness and zero emission targets. However, high
costs associated with production and handling of hydrogen, and
technical challenges related to aircraft design, and hydrogen
storage hamper the growth of the market. On the contrary,
development of green hydrogen ecosystem, proactive government
initiatives toward hydrogen powered aircraft are expected to offer
remunerative opportunities for the expansion of the hydrogen
aircraft market during the forecast period.
Request Sample of the Report on Hydrogen Aircraft Market
Forecast 2050:
https://www.alliedmarketresearch.com/request-sample/A08743
Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2030–2050
|
Base Year
|
2030
|
Market Size In
2030
|
$27.7
Billion
|
Market Size In
2050
|
$489 Billion
|
CAGR
|
15.4 %
|
No. Of Pages In
Report
|
316
|
Segments
Covered
|
Passenger Capacity,
Range, Application, Power Source, Power Output, And
Region.
|
Drivers
|
Increase In Air
Passenger Traffic Across The Globe
|
High Suitability Of
Hydrogen As An Aviation Fuel
|
Rise In The
Environmental Awareness And Zero Emission Targets
|
Opportunities
|
Development Of Green
Hydrogen Ecosystem
|
Proactive Government
Initiatives Toward Hydrogen Powered Aircraft
|
Restraints
|
High Costs Associated
With Production And Handling Of Hydrogen
|
Technical Challenges
Related To Aircraft Design, And Hydrogen Storage
|
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Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/hydrogen-aircraft-market-A08743
The less than 100 segment to maintain its leadership status
by 2050.
By passenger capacity, less than 100 segment held
the highest market share in 2030, accounting for more than
two-thirds of the global hydrogen aircraft market revenue, and is
estimated to maintain its leadership status throughout the forecast
period, as the companies are increasingly planning to manufacture
hydrogen aircraft with 100 passenger capacity and develop
sustainable aviation solutions to mitigate climate change and
reduce the environmental footprint of the aviation industry.
However, the more than 200 segment is projected to manifest the
highest CAGR of 19.6% from 2031 to 2050, owing to the focus on
development of full-scale hydrogen-fueled aircraft several leading
manufacturers that are able to carry more than 200 passengers as
large capacity aircraft are anticipated to be in high demand in the
future.
The short haul segment to maintain its leadership status by
2050.
By range, the short haul segment held the highest market share
in 2030, accounting for more than half of the global hydrogen
aircraft market revenue, and is estimated to maintain its
leadership status throughout the forecast period as various
startups such as AeroDelft and ZeroAvia have undertaken efforts to
manufacture small passenger hydrogen powered aircraft, which have a
higher range. The study by the International Council on Clean
Transportation (ICCT) titled 'Performance Analysis of Evolutionary
Hydrogen-Powered Aircraft,' published in January 2022, explores the potential of
hydrogen-powered aircraft to dominate the small and medium-haul
aircraft market by 2050. However, the long haul is projected to
manifest the highest CAGR of 17.0% from 2031 to 2050, owing to
factors such as rise in international air travel, increase in
demand for zero-emission, coupled with continuous development which
in turn increases the demand for long-haul segment.
The passenger aircraft segment to maintain its lead position
by 2050.
By application, the passenger aircraft segment accounted for the
largest share in 2030, accounting for more than four-fifths of the
global hydrogen aircraft market revenue, and is estimated to
maintain its leadership status throughout the forecast period as
there is significant growth in air travel and surge in need for
cleaner & quieter aircraft, along with rise in innovations and
development of new hydrogen aircraft technologies. However, the
cargo aircraft segment is projected to manifest the highest CAGR of
17.3% from 2031 to 2050, owing to the rise in the strategies to
revolutionize the air cargo delivery industry by offering low cost,
low-carbon emissions solutions for cargo transportation.
The liquid hydrogen aircraft segment to maintain its lead
position during the forecast period.
By power source, the liquid hydrogen aircraft segment accounted
for the largest share in 2030, accounting for more than half of the
global hydrogen aircraft market revenue, and is estimated to
maintain its leadership status throughout the forecast period as
liquid hydrogen aircraft has the potential to drastically reduce
the environmental emission along with the operating cost of
commercial aircraft, and surge in initiatives taken by leading
market players to develop liquid hydrogen aircraft. However, the
hydrogen fuel cell aircraft segment is projected to manifest the
highest CAGR of 18.4% from 2031 to 2050, owing to the increase in
technological advancement in fuel cell-based propulsion system
along with the surge in developments and introduction of hydrogen
fuel-cell planes prototypes.
The 0 to 100 KW segment to maintain its lead position during
the forecast period.
By power output, the 0 To 100 KW segment accounted for the
largest share in 2030, accounting for more than three-fifths of the
global hydrogen aircraft market revenue, and is estimated to
maintain its leadership status throughout the forecast period as
Hydrogen aircraft manufacturers constantly work toward the
development of hydrogen aircraft with 0 to 100kW for short distance
travel. However, the 1MW and above segment is projected to manifest
the highest CAGR of 18.6% from 2031 to 2050, owing to the several
factors, such as escalating environmental regulations, the
burgeoning desire for eco-friendly air travel, and the continual
advancements in hydrogen propulsion technology.
Europe to maintain its
dominance by 2050.
By region, Europe held the
highest market share in terms of revenue in 2030, accounting for
more than half of the hydrogen aircraft market revenue, and is
likely to dominate the market during the forecast period, as there
is an increase in hydrogen aircraft investments and R&D in
prominent countries such as Germany, France, Spain, and other countries. However, the
Asia-Pacific region is expected to
witness the fastest CAGR of 18.0% from 2031 to 2050, owing to
research centers in the region aiming to develop hydrogen-powered
aircraft as objective to transition towards sustainable aviation
practices, and countries investing in the R&D, innovation, and
development of hydrogen-fueled aircraft.
To Talk With Our Industry Expert
@ https://www.alliedmarketresearch.com/connect-to-analyst/A08743
Leading Market Players: -
- Thales
- AeroVironment, Inc.
- GKN Aerospace
- Pipistrel
- Urban Aeronautics Ltd
- Alaka'i
- Airbus
- AeroDelft
- HES Energy Systems
- ZeroAvia, Inc.
The report provides a detailed analysis of these key players of
the hydrogen aircraft market. These players have adopted various
strategies such acquisition, contract, product launch, and others
to increase their market penetration and strengthen their position
in the industry. The report is helpful in determining the business
performance, operating segments, developments, and product
portfolios of every market player.
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