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2021
Hydrogen Aircraft Market

Hydrogen Aircraft Market

by Passenger Capacity (Less than 100, 101 to 200 and More Than 200), Range (Short Haul (<1, 000 Km), Medium Haul (1, 000-2, 000 Km) and Long Haul (2, 000+ Km)), Application (Passenger Aircraft and Cargo Aircraft) and Power Source (Fully Hydrogen Powered Aircraft, Hybrid Electric Aircraft, Hydrogen Fuel Cell Aircraft and Liquid Hydrogen Aircraft): Global Opportunity Analysis and Industry Forecast, 2030-2040

Report Code: A08743
Pages: 449
Dec 2021 | 7559 Views
Author(s) : Akshay J, Akshay J , Sonia M
Tables: 283
Charts: 115
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COVID-19

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Hydrogen (Zero-Emission) Aircraft Market Statistics 2030-2040:

The global hydrogen aircraft market is value at $23.71 billion in 2030, and is projected to reach $144.53 billion by 2040, registering a CAGR of 20.5% from 2030 to 2040.

The COVID-19 pandemic not only affected operations of the aviation industry, but the economic crisis also led to reduction in expenditure on next-generation technologies, for instance, hydrogen-fueled aircraft. Many governments trimmed their spending on other sectors and poured a hefty amount of investment in improving healthcare facilities to lessen dangers pertaining to the pandemic. Before COVID-19, the aviation industry witnessed continuous growth in air passenger traffic and in revenues. Governments all around the globe were focusing on investing huge amount for hydrogen-based aircraft and related technologies. However, adverse impacts of the COVID-19 pandemic have resulted in interruption in activities and initiatives regarding development of hydrogen-based aircraft.

A hydrogen aircraft is an airplane that makes use of hydrogen (liquid or gas) as a power source. Hydrogen energy can be harnessed in two ways for a hydrogen aircraft. It can either be burned in a jet engine or other sorts of internal combustion engines, or it can be used to power a fuel cell to generate electricity to power propeller of aircraft. Research on hydrogen as a potential fuel to power zero-emission aircraft has been on rise in the recent years. The aviation sector is working to develop technologies to tackle challenges associated with hydrogen storage, public perceptions for safety and cost.

Hydrogen-Aircraft-Market

Factors such as increase in air passenger traffic across the globe, high suitability of hydrogen as an aviation fuel, and reduced greenhouse gas emissions by the use of hydrogen aircraft are anticipated to boost growth of the global hydrogen aircraft market during the forecast period. However, the current price differential between hydrogen and conventional jet fuel is expected to hinder growth of the global hydrogen aircraft market during the forecast period. Further, developing green hydrogen ecosystem, proactive government initiatives toward hydrogen powered aircraft, and growth in infrastructural development for hydrogen across the globe offer lucrative opportunities for the market growth during the forecast period.

The hydrogen aircraft market is segmented on the basis of passenger capacity, range, application, power source, and region. The passenger capacity segment is further divided into less than 100, 101 to 200, and more than 200. By range, it is classified into short haul (<1,000 km), medium haul (1,000-2,000 km), and long haul (2,000+ km). Depending on application, the market is bifurcated into passenger aircraft and cargo aircraft. By power source, it is divided into fully hydrogen powered aircraft, hybrid electric aircraft, hydrogen fuel cell aircraft, and liquid hydrogen aircraft. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Competitive analysis and profiles of the major hydrogen aircraft market players include AeroDelft, Aerovironment, Inc., Airbus S.A.S., Alaka’i Technologies, HES Energy Systems, Pipistrel d.o.o, PJSC Tupolev, The Boeing Company, Urban Aeronautics Ltd, and ZeroAvia, Inc., Airspace Experience Technologies, Inc., Alisport Srl, Apus Group, BAE systems, Bell Textron Inc. (Bell Helicopter), Bye Aerospace, DeLorean Aerospace, LLC, DigiSky s.r.l., Doosan Mobility Innovation, EHang, E-PROPS (Electravia), EMBRAER S.A., Eviation Aircraft, Flyka, GKN Aerospace Services Limited (Melrose Industries PLC), Honeywell International Inc., HyPoint Inc., Intelligent Energy Limited, Israel Aerospace Industries, Joby Aviation, Karem Aircraft Inc., Lilium, Lockheed Martin Corporation, Northrop Grumman Corporation, Plug Power Inc., Rolls-Royce plc, Saab AB, Safran, Shanghai Pearl Hydrogen Energy Technology Co., Ltd., Thales Group and Volta Volare Inc.

Increase in air passenger traffic across the globe

According to the International Civil Aviation Organization’s (ICAO) yearly worldwide statistics, total number of commuters carried on scheduled flights rose to 4.38 billion in 2019, which was 3.65% higher than 2018. The highest passenger traffic was witnessed in Asia-Pacific. In October 2018, the International Air Transport Association (IATA) publicized those current developments in air transport projects that the passenger count could double to 8.2 billion in 2037. The abovementioned statistics suggest a rise in air passenger traffic over the years across the globe. The present fleet of aircraft is powered by kerosene (fossil fuel) and owing to the rise in air passenger traffic, there is an increase in consumption of kerosene as well. This increase focus for other energy sources such as hydrogen to power next generation of aircraft. As combustion of hydrogen does not emit carbon emissions, use of hydrogen can be quite beneficial for high fuel consuming aircraft. Hence, rise in air traffic is anticipated to drive growth of the hydrogen aircraft market over the years.

Hydrogen Aircraft Market
By Passenger Capacity

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101 to 200 is projected as the most lucrative segments

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High suitability of hydrogen as the aviation fuel

To support the ever-rising air-traffic, a fuel must be found to replace petroleum-based jet aviation fuel. New fuels should be accessible at a global level without causing any hazard of control by a cartel (for instance, Organization of the Petroleum Exporting Countries (OPEC)) and must meet the fundamental requirements of safety performance, environment, and economic considerations. Hydrogen has the potential to substitute the currently used aviation fuel. Hydrogen as an energy carrier for usage in aircraft has some exceptional qualities such as minimum pollution and lightweight, global availability, and safety, thus making it a suitable aviation fuel. In comparison with li-ion batteries, hydrogen has a greater energy density, both in terms of gravimetric and volumetric measures. Furthermore, hydrogen is expected to enter into usage in several industries, which could quicken advancements of fuel cells and storage systems, push downstream infrastructure, and drive down the supply chain costs. Hence, all such factors are expected to propel the market growth.  

Hydrogen Aircraft Market
By Range

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Medium Haul (1,000-2,000 Km) is projected as the most lucrative segments

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High costs associated with production and handling of hydrogen

Hydrogen (in gaseous form) is usually extracted from water by the electrolysis process, which includes passing a high electric current through water to isolate oxygen and hydrogen atoms. The electrolysis process is quite expensive as it includes high expenditure on energy requirements. Furthermore, hydrogen poses challenges for designers, in terms of mass and volume requirements, as well as for fuel management and storage on-board aircraft. High volume-to-energy property of liquid hydrogen (LH2) requires hydrogen aircraft to contain a huge quantity of fuel compared to legacy kerosene-fueled aircraft. This leads to higher air drag and affects efficiency of the aircraft. A typical property of hydrogen is that it has a lower density. Its density is quite lower than gasoline. For this reason, it has to be compressed and brought to a liquid state and stocked in the same manner at lower temperatures to sustain its effectiveness and efficiency as a power source. This is the reason why hydrogen must necessarily be transported and stored in high-pressure conditions, which makes the application of hydrogen for transportation and common use not feasible presently. Above mentioned factors are anticipated to obstruct the market growth of the hydrogen aircraft market during the forecast period. In addition, transition from kerosene-based aircraft to hydrogen aircraft incur huge costs. Big investments would be required to design and manufacture the new customized planes. Hence, such factors hamper growth of the market.

Hydrogen Aircraft Market
By Application

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Cargo Aircraft is projected as the most lucrative segments

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Developing green hydrogen ecosystem

The aerospace industry continues to develop technology to build the world’s first zero-emission commercial aircraft by 2035. Green hydrogen is one of the most recent developments in aviation fuel, which has been an essential component of net-zero climate strategies. For the aviation industry, green hydrogen is expected to play a key role in as fuel in future aircraft. Thus, aviation authorities across the world are increasing investments in green hydrogen as it is an essential component for net-zero climate strategies. For instance, Airbus expects green hydrogen to power future zero-emission aircraft, when it reaches the market by 2035. In addition, the European Commission recently announced that it is working on installing at least 40 GW capacity of electrolyzers or up to 10 million megatons of green hydrogen by 2030. Along with the European Union, Japan, China, South Korea, and the U.S. cities including California, Texas, and Utah, have also started to invest on green hydrogen for aviation fuels. However, it is also necessary to develop infrastructure to distribute green hydrogen once generated. Hence, Airbus urged airports to develop on-site facilities to produce hydrogen within close proximity to operations. However, a green hydrogen ecosystem will need to take shape to ensure its availability to fuel future needs of the aviation industry. Therefore, development of green hydrogen ecosystem is expected to offer lucrative growth opportunities for the hydrogen aircraft market. 

Hydrogen Aircraft Market
By Power Source

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Hydrogen Fuel Cell Aircraft is projected as the most lucrative segments

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Covid-19 Scenario Analysis

The COVID-19 pandemic not only affected operations of the aviation industry, but the economic crisis also led to reduction in expenditure on next-generation technologies, for instance, hydrogen-fueled aircraft. Many governments trimmed their spending on other sectors and poured a hefty amount of investment in improving healthcare facilities to lessen dangers pertaining to the pandemic. Before COVID-19, the aviation industry witnessed continuous growth in air passenger traffic and in revenues. Governments all around the globe were focusing on investing huge amount for hydrogen-based aircraft and related technologies. However, adverse impacts of the COVID-19 pandemic have resulted in interruption in activities and initiatives regarding development of hydrogen-based aircraft.

Hydrogen Aircraft Market
By Region

2040
Europe 
North America
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 22.4% during 2030-2040.

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the global hydrogen aircraft market analysis along with current trends and future estimations to depict imminent investment pockets.
  • The overall hydrogen aircraft market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global hydrogen aircraft market with a detailed impact analysis.
  • The current hydrogen aircraft market is quantitatively analyzed from 2030 to 2040 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Hydrogen Aircraft Market Report Highlights

Aspects Details
BY PASSENGER CAPACITY
  • Less than 100
  • 101 to 200
  • More than 200
BY RANGE
  • Short Haul (<1,000 Km)
  • Medium Haul (1,000-2,000 Km)
  • Long Haul (2,000+ Km)
BY APPLICATION
  • Passenger aircraft
  • Cargo aircraft
BY POWER SOURCE
  • Fully hydrogen powered aircraft
  • Hybrid electric aircraft
  • Hydrogen fuel cell aircraft
  • Liquid hydrogen aircraft
BY REGION
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Russia, Rest of Europe)
  • By Asia-Pacific  (China, Japan, South Korea, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players AERODELFT, AEROVIRONMENT, INC., AIRBUS S.A.S., ALAKA’I TECHNOLOGIES, HES ENERGY SYSTEMS, PIPISTREL D.O.O., PJSC TUPOLEV, THE BOEING COMPANY, URBAN AERONAUTICS LTD, ZEROAVIA, INC., Airspace Experience Technologies, Inc., Alisport Srl, Apus Group, BAE systems, Bell Textron Inc. (Bell Helicopter), Bye Aerospace, DigiSky s.r.l., Doosan Mobility Innovation, EHang, E-PROPS (Electravia), EMBRAER S.A., Eviation Aircraft, Flyka, GKN Aerospace Services Limited (Melrose Industries PLC), Honeywell International Inc., HyPoint Inc., Intelligent Energy Limited, Israel Aerospace Industries, Joby Aviation, KAREM AIRCRAFT INC., Lilium, Lockheed Martin Corporation, Northrop Grumman Corporation, Plug Power Inc., Rolls-Royce plc, Saab AB, SAFRAN, Shanghai Pearl Hydrogen Energy Technology Co., Ltd., Thales Group, Volta Volare Inc.
 

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According to perspectives of CXOs of leading companies, the global hydrogen aircraft market is expected to witness significant growth, owing to rise in demand to reduce greenhouse gas (GHG) emissions across the globe. According to CXOs of Airbus S.A.S., green hydrogen is expected to be the key for the future of aircraft fuel. Hydrogen could fuel short-haul aircraft and blend with regular jet fuel for longer-haul flights. Airbus expects green hydrogen to power future zero-emission aircraft, when it reaches the market by 2035.

In the zero-emission aircraft industry, hydrogen aircraft holds great possibility as the fuel for future generation aircraft. Hydrogen as aircraft fuel delivers enormous power and is eco-friendly in nature as the only by-product in the burning of hydrogen is water, unlike common combustion engines, which generate harmful byproducts such as carbon dioxide, nitrogen oxides, and others. High volume-to-energy ratio of liquid hydrogen (LH2) requires hydrogen aircraft to carry a large volume of fuel as compared to conventional aircraft. This results in higher air drags and consequently influences efficiency of the aircraft. This is one of the restraining factors for adoption of hydrogen aircraft. Such issues can be resolved with the development of technologies in the future.

Rise in air passenger traffic and the ability of hydrogen-fueled aircraft to reduce greenhouse gas emissions are expected to drive growth of the hydrogen aircraft market during the forecast period. However, parameters such as high costs associated with production and handling of hydrogen and huge investments required for approval and certification of hydrogen-based aircraft are anticipated to hamper growth of the market. Moreover, developing green hydrogen ecosystem, proactive government initiatives toward hydrogen-powered aircraft are expected to offer lucrative opportunities in the future.

According to a key executive of leading market players operating in hydrogen-fueled aircraft, growth in infrastructural development for hydrogen across the globe holds great potential for availability of cost-effective hydrogen in the next decade. This is anticipated to boost initiatives for development of hydrogen-fueled aircraft in the coming years. Moreover, rise in investments by industry players in R&D, product innovation, and technological advancements are expected to boost the hydrogen aircraft market in the future.

Among the analyzed regions, Europe is the highest revenue contributor, followed by Asia-Pacific, North America, and LAMEA. On the basis of growth rate, Asia-Pacific is expected to grow at a lucrative growth during the forecast period, owing to increase R&D for hydrogen-powered propulsion in countries such as China, Japan, South Korea among others.

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FREQUENTLY ASKED QUESTIONS?

A. The global hydrogen aircraft market was valued at $23,712.10 million in 2030, and is projected to reach $144,538.90 million by 2040, registering a CAGR of 20.5% from 2030 to 2040.

A. There are certain major developments in hydrogen aircraft market such as airbus reveals two new zero-emission hydrogen concept aircraft, Deutsche Aircraft and H2FLY join forces to explore hydrogen powered flight among others

A. The sample for global hydrogen aircraft market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. Hydrogen fuel can either be burned in a jet engine or another kind of internal combustion engine, or can be used to power a fuel cell to generate electricity to power a propeller.

A. The hydrogen aircraft expected to ragister significant growth in future owing to the factors such as increasing development of hydrogen-powered planes, product launch, rising government initiatives on zero-emission aircrafts among others

A. The company profiles of the top market players of hydrogen aircraft service industry can be obtained from the company profile section mentioned in the report

A. Developing green hydrogen ecosystem, proactive government initiatives toward hydrogen powered aircrafts and growth in infrastructural development for hydrogen across the globe are the key opportunities in hydrogen aircraft industry

A. Airbus S.A.S, a European multinational aerospace corporation, has the most share in hydrogen aircraft market, due to the increasing focus on development of hydrogen aircrafts

A. There are certain major upcoming trends in hydrogen aircraft market including increasing popularity of hydrogen fuel cell and growing focus on green hydrogen as a aviation fuel

A. Airbus S.A.S, Zeroavia Inc, Aerodelft, Aerovironment Inc, Hes Energy Systems are among the top players manufacturing hydrogen aircraft

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