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Aircraft Fuel Cell Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
| A10729 | Pages: NA | Jun 2021 | 26 Views | | |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Aircraft Fuel Cell Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Request Now !Fuel cells are devices that utilize chemical energy to produce electricity through electrochemical reaction. These fuel cells operate through two electrochemical reactions and require a continuous inflow of fuel or hydrogen and oxygen. The fuel cells also act as secondary power units and provide electrical energy even when the flight is grounded and the engines are off and this technology is used in both civilian and defense aircrafts. The increase in concern for the environment, government, and various aviation associations implement various measures to cut down the emission of greenhouse gases. Therefore, the development of fuel cell technology is adopted for the production of efficient energy and also reduces the carbon emission.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Type, Industry Vertical, and Region |
Geographies covered | North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
Companies covered | Airbus Americas Inc., Ballard Power Systems Inc., Boeing Company, Delphi Technologies, EnergyOR Technologies Inc., Hydrogenics Corporation, Nuvera Fuel Cells LLC and SerEnergy A/S. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has affected the global aircraft fuel cell market to a great extent.
- The governments of different nations had imposed nationwide lockdowns and restrictions on national and international transport to contain the virus. This has resulted in a complete halt of the business activities of the aviation sector and thus the demand for fuel cells in the aviation industry have decreased dramatically in the past few months.
- The increase in awareness among the people regarding environment crisis has driven many manufactures for research and innovation regarding the fuel cells. This factor will find various applications of fuel cells not only in aircraft but also in many electric automobile vehicles.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
There has been a significant increase in the disposable income among the consumers owing to the rapid urbanization and economic development around the world. This has significantly increased the number of customers in the aviation sector. This rapid growth of the aviation industry has acted as a major driver for the aircraft fuel cells market. On the other hand, the growing environmental concerns and the stringent regulations on emissions has also made the major companies to enter modern technologies for power generation and this also adds toward the growth of the global aircraft fuel cell market. However, the high installation cost of the fuel cells limit the market growth.
The market in the Asia-Pacific region holds a significant fraction of the global aircraft fuel cells market due to the rapid development of the aviation industry in the emerging economies including India and China. The market in the Europe and North America regions is also expected to witness rapid growth due to economic supremacy and increase in need of the aviation industry in both civilian and defense sectors.
Key segments covered:
Segments | Sub-segments |
Type |
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Industry Vertical |
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Key benefits of the report:
- This study presents the analytical depiction of the global aircraft fuel cell industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aircraft fuel cell market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global aircraft fuel cell market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global aircraft fuel cell market analysis based on competitive intensity and how the competition will take shape in coming years.
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