Portland, OR, March 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hydrogen aircraft market is estimated at $27.68 billion in 2030 and is expected to hit $174.02 billion by 2040, registering a CAGR of 20.2% from 2030 to 2040. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
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Increasing air passenger traffic across the globe, high suitability of hydrogen as aviation fuel, and reduced GHG emissions drive the growth of the global hydrogen aircraft market. On the other hand, high costs associated with the production & handling of hydrogen and huge investments required for the approval and certification of hydrogen based aircrafts curtail the growth to some extent. Nevertheless, proactive government initiatives toward hydrogen powered aircrafts and growth in infrastructural development for hydrogen across the globe are expected to create lucrative prospects in the near future.
Covid-19 scenario-
- The outbreak of the pandemic led to global lockdown and this, in turn, hampered the manufacturing facilities of hydrogen aircrafts.
- At the same time, most of the countries have happened to direct a huge portion of the capital in the healthcare sector which has resulted into minimal investments in the making of hydrogen aircrafts.
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The global hydrogen aircraft market is analyzed across passenger capacity, range, application, and region. Based on passenger capacity, the less than 100 segment is expected to account for more than three-fourths of the total market share in 2030, and would rule the roost by 2040. The 101-200 segment, on the other hand, would showcase the fastest CAGR of 22.30% throughout the forecast period.
Based on range, the short haul segment is projected to contribute to nearly half of the global hydrogen aircraft market share in 2030, and would lead the trail by 2040. At the same time, the medium haul segment would manifest the fastest CAGR of 21.10% by the end of 2040.
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Based on geography, the market across Europe is anticipated to hold the highest share in 2030, generating more than half of the global market. Simultaneously, Asia-Pacific would showcase the fastest CAGR of 22.80% during the forecast period. The other two provinces covered in the report include North America and LAMEA.
The key market players analyzed in the global hydrogen aircraft market report 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. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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