Hydrogen Aircraft Market Size, Share | Industry Report (2021-2028)

 

Hydrogen Aircraft Market

The hydrogen Aircraft Market is predicted to grow at a steady CAGR during the forecast period (2021-2028).

The factors driving the growth of Hydrogen Aircraft Market includes increasing air passenger traffic around the world, growing concerns about the carbon emissions and increasing investments by private players for developing hydrogen-based aircrafts. As per the data available at Statista, the total scheduled passengers boarded by the global airline industry in 2021 were around 2.2 billion people and is expected to reach 3.4 billion by the end of 2022, which will propel the Hydrogen Aircraft Market share in the coming few years. Moreover, increasing numbers of airports, growing emphasis on adopting environment-friendly transportation systems and infrastructural developments for creating green-hydrogen ecosystems, are expected to accelerate the Hydrogen Aircraft Market size in the approaching years. For instance, the Government of India had set up a target of creating 220 new airports by the end of 2025 and expects the air passenger traffic to increase from 34.5 crore in 2018-19 to 40 crore by FY 2023-2024.

However, the growth of Hydrogen Aircraft Market is hindered due to significant difference between the prices of hydrogen and alternative fuels.

The major players operating in the market are HES Energy Systems, Honeywell International Inc., Airbus S.A.S., AeroVironment, Inc., AeroDelft, Urban Aeronautics, Ltd., HyPoint Inc, ZeroAvia, Inc., Tupolev PJSC and GKN Aerospace Services Limited among others.

Power Source – Segment Analysis

Based on Power Source, the Hydrogen Fuel Cell segment is predicted to expand at a robust CAGR over the forecast period owing to its decarbonization properties and availability of backup system of batteries.  

Passenger Capacity – Segment Analysis

Based on Passenger Capacity, the Up to 4 Passengers segment is anticipated to capture a significant market share during the forecast period attributed to increasing number of metro cities across the globe.

Regional – Segment Analysis:

Based on region, the European region is estimated to capture the highest market share over the forecast period. The increasing collaboration between Government and industry players for bringing innovation in the civil aerospace, growing passenger traffic in the airports, improved living standards and high per capital income, are some of the important factors augmenting the market growth in the European region.

 

 

 

Market Segmentation

Global Hydrogen Aircraft Market by Range

  • Up to 20 km
  • 20 km to 100 km
  • More than 100 km

Global Hydrogen Aircraft Market by Platform

  • Unmanned Aerial Vehicles
  • Air Taxis
  • Business Jets

Global Hydrogen Aircraft Market by Power Source

  • Hydrogen Combustion
  • Hydrogen Fuel Cell

Global Hydrogen Aircraft Market by Technology

  • Fully Hydrogen-Powered Aircraft
  • Hybrid Electric Aircraft

Global Hydrogen Aircraft Market by Passenger Capacity

  • Up to 4 Passengers
  • 5 to 10 Passengers
  • More than 10 Passengers

Global Hydrogen Aircraft Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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