According to IMARC Group’s latest report, titled “Hydrogen Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” the study provides a detailed analysis of the industry, including the global ambulance services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Hydrogen Aircraft Market?
The global hydrogen aircraft market reached a value of US$ 4.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.15 Billion by 2027, exhibiting at a CAGR of 17.20% during 2022-2027.
Hydrogen aircraft use liquid or gaseous hydrogen as a power source. They are harnessed by burning hydrogen gas in jet or internal combustion (IC) engines or by powering fuel cells that generate electricity to power the propeller of the aircraft. Hydrogen aircraft are environment-friendly and cause zero carbon dioxide, nitric oxide, nitrogen oxide, sulfur oxide, and soot emissions. In addition to this, they are characterized by exceptional gravimetric and volumetric energy density. Consequently, hydrogen aircraft find extensive commercial and cargo transportation applications for short, medium, and long hauls.
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Global Hydrogen Aircraft Market Trends:
The expanding aviation sector across the globe is among the key factors stimulating the hydrogen aircraft market. Moreover, the increasing consumer environmental consciousness is acting as another significant growth-inducing factor. Besides this, the rising usage of hydrogen aircraft, as they offer numerous benefits, including convenient availability of the fuel source, minimal pollution and weight, enhanced safety of the passengers and cargo, etc., is positively influencing the global market. Furthermore, the widespread adoption of hydrogen aircraft by government bodies and private organizations to meet air transport requirements is propelling the market growth. Apart from this, several technological advancements, such as the introduction of hydrogen fuel cell-based unmanned aerial vehicles, air taxis, business jets, etc., are also bolstering the global market. Additionally, the escalating demand for UAVs and drones for conducting surveillance operations and military activities with enhanced efficiency is further augmenting the market growth. In line with this, the growing air traffic, especially in developing economies, is anticipated to fuel the hydrogen aircraft market over the forecasted period.
Who are the key players operating in the industry?
The report covers the major market players including:
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Passenger Capacity:
Breakup by Range:
Breakup by Technology:
Breakup by Application:
Breakup by Region:
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Key Highlights of the Report:
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