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A13306 | Pages: 280 | Charts: 58 | Tables: 153 |
The global hybrid aircraft market size was valued at $1.9 billion in 2023, and is projected to reach $10.7 billion by 2033, growing at a CAGR of 19.1% from 2024 to 2033.
The hybrid aircraft market share is a segment of the aerospace industry that focuses on the development and production of hybrid-powered aircraft, which combine both electric and fuel-based propulsion systems to reduce emissions and fuel consumption. These aircraft are designed to offer improved efficiency and reduced environmental impact. Hybrid aircraft utilize a combination of conventional internal combustion engines (typically fueled by jet fuel) and electric propulsion systems. These aircraft aim to combine the advantages of both propulsion methods to achieve improved efficiency, reduced environmental impact, and enhanced performance.
The hybrid aircraft market size covers 20 countries. The research includes a segment analysis of each country in terms of value ($Billion) for the projected period 2024-2033.
More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major hybrid aircraft industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
On May 4, 2024, Ampaire Inc. announced the acquisition of Magpie Aviation Inc., a manufacturer of electric aviation technologies. The acquisition of Magpie's technology will enable Ampaire to continue leading the charge in the electrification of aviation and offer unique solutions to its customers. The acquisition will also broaden Ampaire's IP and contract portfolio through Magpie's multiple pending patents and government contracts. With the acquisition, the company anticipates further revenue growth across both of its commercial and defense sectors while simultaneously enhancing the research and development capabilities.
On May 25, 2021, Faradair Aerospace announced the completion of the project of design for bio electric hybrid aircraft. The company has further announced they have started structural engineering work on the aircraft. Over the eight months, the company has added major partners, including propulsion providers Honeywell and MagniX, and has expanded its workforce to its new headquarters at Duxford airfield in the UK. The initial M1H model is expected to carry 18 passengers or five tons of freight and fly at around 14, 000 feet.
Key Market Segments
Key Market Players