Hydrogen Aircraft Market by Passenger Capacity (Below 100, 100-200, and Above 200), Range (Short Haul, Medium, Haul, and Long Haul), Application (Passenger Aircraft and Cargo Aircraft): Global Market Size Estimates and Forecast (2019-2030)

BMIRE00026190 | Pages: 100 | Aerospace and Defense | Sep 2022 | Type: Global | Status: Published

The market is expected to cross US$ 427.31 million in 2022 and is projected to hit US$ 1,139.49 million by 2030, recording a CAGR of 13.0% during the forecast period.

Development of Low Emission Technologies to Drive the Market Growth.

The vendors across this market are majorly focusing on the development of low-carbon emission products that helps to reduce the carbon emissions across the aviation industry. The growing demand for lowering the carbon emissions from the aviation sector that accounts for nearly 2.7% of the global carbon emissions is one of the major factors pushing the market vendors to develop hydrogen aircraft-related technologies. The major aircraft manufacturers across the aviation sector are collaboratively working with other vendors for the development of hydrogen powered propulsion system that could be deployed across different futuristic aircraft models that aims to be a zero-emission aircraft. For instance, in May 2022, Airbus announced that it has opened a new facility i.e., Zero Emission Development Centre (ZEDC) in the UK for the development of cryogenic fuel systems for next-generation hydrogen aircraft models. Similarly, in April 2021, a hydrogen powered plane had completed its maiden flight in UK that was developed by a California-based startup ZeroAvia and Britain’s Ministry of Aviation. This aircraft was based on the six-seater Piper M-Class which had been fitted out with hydrogen powered systems at the R&D hub at Cranfield airport in the UK.

Moreover, passenger aircraft segment is expected to dominate the hydrogen aircraft market in 2022. This is owing to the rising air passenger volumes across the world which accounts for more share in the aircraft operations compared to cargo volumes. This is also supported by the introduction of low-cost airlines that is again adding up to new air passenger volumes to the airlines industry. Further, the increasing number of developments across the hydrogen-powered passenger aircraft segment is another major factor pushing the hydrogen aircraft market growth.

Within the report, the hydrogen aircraft market is segmented into passenger capacity, range, application, and geography. By passenger capacity, the hydrogen aircraft market is segmented into below 100, 100-200, and above 200. Based on range, the hydrogen aircraft market is segmented into short haul, medium haul, and long haul. Based on application, the market is segmented into commercial aircraft and cargo aircraft. Geographically, the hydrogen aircraft market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Increasing Focus of Regulatory Authorities for Reduction of Harmful Emissions is Likely to Provide Future Opportunities for Market Vendors During the Forecast Period.

The aviation related regulatory organizations such as Federal Aviation Administration (FAA), International Civil Aviation Organization (ICAO), and Environmental Protection Agency (EPA) are strictly introducing new regulations for aviation industry market vendors to develop lower emission-based components & systems that are being used in an aircraft that leads to reduce the carbon emissions from the overall aircraft operations. Moreover, these organizations also track the whole stats of aviation industry operations that allows them to understand the overall operational dynamics of the aviation sector. For instance, in 2016, the ICAO announced its first greenhouse gas (GHG) emission standards for airplanes that had been till now. Moreover, in August 2020, EPA proposed new aviation industry GHG emission standards that apply to certain new commercial airplanes, including all large passenger jets. Such initiatives are pushing the market vendors to develop hydrogen-propulsion based aircraft systems for the better future of aviation industry.

Development of New Designs of Hydrogen Aircraft Driving the Hydrogen Aircraft Market Growth.

Several vendors are collaboratively working on the development of new prototypes and designs of the hydrogen aircraft for taking it to the next level of innovation for air travel industry. The traditional designs of an aircraft wherein the fuel could be carried out in the aircraft wings cannot be considered for the hydrogen powered aircraft models as liquid hydrogen needs to be stored in relatively heavy and insulated tanks. For this, different vendors are focusing on the development of new and innovative aircraft designs to produce the prototype for hydrogen aircraft for its testing. For instance, the Dutch company Unified International Aerospace, Defense and Maritime is working on the development of hydrogen aircraft wherein their design aims to locate the aircraft hydrogen fuel tanks at the plane’s tails. Such innovations are likely to generate new possibilities and opportunities for market vendors during the forecast period.

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Recent Strategic Developments in Hydrogen Aircraft Market

The hydrogen aircraft market has undergone several significant developments, and a few of these have been mentioned below:

  • In July 2022, Boeing released hydrogen and electric aircraft concepts that could power the future of airlines industry. Further the company also aims to implement hydrogen aircraft technologies by renewing the existing aircraft fleet, operational efficiency improvements, and implementation of advanced technologies across the aircraft industry.
  • In May 2022, easyJet announced its partnership with GKN aerospace to accelerate adoption of hydrogen in aviation industry. Under this partnership, easyJet aims to support the development of GKN Aerospace’s Hydrogen Combustion (H2JET) and Hydrogen Fuel Cell (H2GEAR) technology, including exploration of the options for flight demonstration, as part of the airline’s ambition to de-carbonize aviation.
  • In August 2022, American Airlines announced that it has been collaborative working with ZeroAvia and could order up to 100 of its planned propulsion systems to power its regional jets for its 600-kW ZA600 hydrogen-electric powertrain, which it says could be used to convert a 19-seat aircraft capable of flying up to 300 miles (480 km) and start commercial operations by 2024.

The hydrogen aircraft market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Aerovironment Inc., AeroDelft, Airbus, Alaka'i Technologies, HES Energy Systems, PJSC Tupolev, Pipistrel d.o.o., Boeing, ZeroAvia Inc., and Urban Aeronautics Ltd. are among the prominent players operating in the hydrogen aircraft market.

Target audience for the report:

  • Hydrogen propulsion system manufacturers
  • Hydrogen aircraft manufacturers
  • Hydrogen aircraft component manufacturers
  • Hydrogen aircraft fuel tank manufacturers
  • Government, and commercial aviation related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the hydrogen aircraft market has been segmented on the basis of:

  • Passenger Capacity:
    • Below 100
    • 100-200
    • Above 200
  • Range:
    • Short Haul
    • Medium Haul
    • Long Haul
  • Application
    • Passenger Aircraft
    • Cargo Aircraft
  • Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
    • Asia Pacific (APAC)
    • Middle East & Africa
    • South America
  • Companies profiled
    • Aerovironment, Inc.
    • AeroDelft
    • Airbus
    • Boeing
    • ZeroAvia, Inc.

Companies profiled

- Aerovironment, Inc.

- AeroDelft

- Airbus

- Boeing

- ZeroAvia, Inc.

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