Reportlinker has just released a 175-page report “Hydrogen Aircraft Global Market Report 2022“. The global hydrogen aircraft market is expected to grow from $0.92 billion in 2021 to $1.09 billion in 2022 at a compound annual growth rate (CAGR) of 19.13%.
The hydrogen aircraft market is expected to grow to $2.63 billion in 2026 at a compound annual growth rate (CAGR) of 24.60%.
Major players in the hydrogen aircraft market are Aerodelft, Aerovironment Inc., Airbus SE, Apus Group, Doosan Mobility Innovation, The Boeing Company, Gkn Aerospace, Hes Energy Systems, Honeywell International Inc., Hypoint Inc., Pipistrel d.o.o Ajdovš?ina, Plug Power Inc., HyPoint, Zeroavia Inc., HES Energy Systems, Universal Hydrogen and Raytheon Technologies Corporation.
The hydrogen aircraft market consists of sales of hydrogen aircraft by entities (organizations, sole traders, and partnerships) that uses hydrogen fuel to run an airplane.A hydrogen airplane may use hydrogen energy in two different ways.
Hydrogen may be consumed in a jet engine or another internal combustion engine, or it can be utilized to power a propeller using a fuel cell. Hydrogen-powered planes have hydrogen fuel tanks built within the fuselage to store fuel.
The main technologies of hydrogen aircraft include fully hydrogen-powered aircraft, hybrid electric aircraft, hydrogen fuel cell aircraft and liquid hydrogen aircraft.A fully hydrogen-powered aircraft refers to an aircraft that use only hydrogen for its operation as a power source.
These aircraft produce zero carbon emissions when in flight.The power sources used in hydrogen aircraft include hydrogen combustion and hydrogen fuel cell.
The various applications of hydrogen aircraft include air taxis, business jets and unmanned aerial vehicles. The aircraft’s ranges are 20 km to 100 km, more than 100 km and up to 20 km.
North America was the largest region in the hydrogen aircraft market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the hydrogen aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The hydrogen aircraft market research report is one of a series of new reports that provides hydrogen aircraft market statistics, including hydrogen aircraft industry global market size, regional shares, competitors with a hydrogen aircraft market share, detailed hydrogen aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen aircraft industry. This hydrogen aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
An increase in air passenger traffic across the globe is expected to propel the growth of the hydrogen aircraft market.Air passenger traffic refers to scheduled passengers (number of people who have booked a flight with a commercial airline, excluding charter flights) handled by the global airline industry.
With the rising number of passengers, more flights are in operation than ever before, leading to pollution due to the emittance of harmful gases by aircraft.To overcome the problem of pollution, hydrogen-based aircraft comes out to be a clean option.
According to the International Air Transport Association (IATA) passenger data for March 2022, total traffic in March 2022 (measured in revenue passenger kilometers or RPKs) was up 76% compared to March 2021. Thus, an increase in aviation will drive the aviation analytics market.
The development of unmanned aircraft powered by hydrogen is a key trend in the hydrogen aircraft market.Unmanned aerial vehicles (UAVs) are aircraft that do not have a human pilot or passengers.
UAVs, sometimes known as “drones,” can be totally or partially automated, but they are generally piloted remotely by a human.Many companies are moving towards developing unmanned aircraft powered by hydrogen to leverage hydrogen as a sustainable fuel source.
In January 2022, Drone Works, a Japanese drone company, partnered with H3 Dynamics, a Singapore-based air mobility technology company, to build a hydrogen-powered drone.H3 Dynamics’ Aerostak hydrogen fuel cell system contains a special grade proton-exchange membrane (PEM) fuel cell stack, control electronics, lightweight enclosures with integrated air conditioning fans, and a LiPo (lithium-ion polymer)-compatible hybrid electronic board.
The lightweight hydrogen-powered drone can fly longer than drones powered by lithium batteries.
In April 2022, Textron Inc., an America-based industrial conglomerate operating in aviation, defense, industrial goods, and financial services, acquired Pipistrel for an undisclosed amount. This acquisition will enable Pipistrel to access more resources, technical and regulatory experience, as well as a global aircraft sales and support network, allowing it to speed up the development and certification of electric and hybrid-electric aircraft. Pipistrel is a Slovenian-based lightweight aircraft manufacturer, provides a range of gliders and light aircraft with both electric and combustion engines.
The countries covered in the hydrogen aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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Source: Press Release