With 17.20% CAGR, Hydrogen Aircraft Market to Reach US$ 13.15 Billion by 2027 | Global Industry Report and Forecast

Hydrogen aircraft use liquid or gaseous hydrogen as a power source

BROOKLYN, NY, USA, February 6, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Hydrogen Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” 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.

Hydrogen aircraft use liquid or gaseous hydrogen as a power source. They are 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. Hydrogen aircraft are environment-friendly and cause zero carbon dioxide, nitric oxide, nitrogen oxide, sulfur oxide, and soot emissions. In addition to this, they are characterized by exceptional gravimetric and volumetric energy density. Consequently, hydrogen aircraft find extensive commercial and cargo transportation applications for short, medium, and long hauls.

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Global Hydrogen Aircraft Market Trends:

The expanding aviation sector across the globe is among the key factors stimulating the hydrogen aircraft market. Moreover, the increasing consumer environmental consciousness is acting as another significant growth-inducing factor. Besides this, the rising usage of hydrogen aircraft, as they offer numerous benefits, including convenient availability of the fuel source, minimal pollution and weight, enhanced safety of the passengers and cargo, etc., is positively influencing the global market. Furthermore, the widespread adoption of hydrogen aircraft by government bodies and private organizations to meet air transport requirements is propelling the market growth. Apart from this, several technological advancements, such as the introduction of hydrogen fuel cell-based unmanned aerial vehicles, air taxis, business jets, etc., are also bolstering the global market. Additionally, the escalating demand for UAVs and drones for conducting surveillance operations and military activities with enhanced efficiency is further augmenting the market growth. In line with this, the growing air traffic, especially in developing economies, is anticipated to fuel the hydrogen aircraft market over the forecasted period.

Hydrogen Aircraft Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the hydrogen aircraft market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

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.

Key Market Segmentation:

The report has segmented the hydrogen aircraft market on the basis of 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)
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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