Zero-Emission Aircraft Market is projected to grow at a CAGR of 20.7%

The Market Statsville Group (MSG) publishes the new report on the "Zero-Emission Aircraft Market by Source (Hydrogen, Electric, and Solar), by Application (Passenger Aircraft and Cargo Aircraft), by Range (Short-Haul, Medium-Haul, and Long-Haul), by Type (Turboprop Rear Bulkhead, Turbofan System, and Blended Wing Body), by Region – Global Share and Forecast to 2030". The global zero-emission aircraft market size is estimated to grow at a CAGR of 20.7% during the forecast period. Hydrogen is projected to play a crucial role in the decarbonization plans of the global aviation sector as it can power aircraft effectively, emitting water as the only by-product. Under the H2GEAR program, GKN Aerospace will develop the technology required for the future of more sustainable aviation. The technology will initially focus on considerably enhancing the performance of sub-regional hydrogen-powered aircraft to enable applications on bigger aircraft and longer trips. During the forecast period, the zero-emission aircraft market will be driven by increased air passenger traffic and lower GHG emissions worldwide. However, the market's growth is expected to be hampered by technological challenges with solar, electric, and hydrogen-powered aircraft, as well as high costs associated with hydrogen production and handling.

Global Zero-Emission Aircraft Market Segmentation

The zero-emission aircraft market has been segmented into the source, application, range, type, and region.

• By Source (Hydrogen, Electric, and Solar)
• By Application (Passenger Aircraft and Cargo Aircraft)
• By Range (Short-Haul, Medium-Haul, and Long-Haul)
• By Type (Turboprop Rear Bulkhead, Turbofan System, and Blended Wing Body)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Short-Haul, by range, is estimated to hold the largest market share during the forecast period

Based on range, the global zero-emission aircraft market is segregated into short-haul, medium-haul, and long-haul. The short-haul segment generated the highest revenue of 48.8% of the total global zero-emission aircraft market in 2021, and it is expected to register a significant CAGR from 2022-2030. Aircraft considered under the short-haul segment belong to zero-emission aircraft having a range of up to 1,000 km. These aircraft would be the most inexpensive hydrogen, battery, or solar-powered flights for passengers traveling short distances.

According to the report procured by Clean Sky 2 JU and FCH 2 JU in May 2020, as compared to conventional aircraft, the operational costs for short-haul hydrogen aircraft is anticipated to increase by as low as $5-$10 per passenger, about 10% per PAX (passenger). A hybrid propulsion technology (H2 combustion and fuel cell) possibly will be best suited for short-range aircraft over the years. Between 10 and 15 years from now, short-haul flights with low passenger numbers are expected to be the first to become hydrogen-fuelled aircraft. In addition, United Airlines decided to spend $1 billion in Archer Aviation, a start-up building short-haul electric vertical take-off and landing aircraft to meet its objective to become 100% green by eliminating greenhouse gas emissions by 2050. Such developments are expected to boost the segment's growth during the forecast timeframe.

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Europe accounts for the largest market share in the zero-emission aircraft market 2021

Based on the regions, the global zero-emission aircraft market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 53.3% in the global zero-emission aircraft market and was anticipated to maintain its dominance throughout the forecast period. The market in Europe is analyzed across the UK, Germany, France, Russia, and the rest of Europe. Europe is anticipated to witness a high growth rate over the years due to the implementation of policies regarding the development of cleaner fuels used in the aviation sector. The country is the frontrunner in providing the resources for developing the zero-emission fuel-based aviation industry.

The pace of development of zero-emission aircraft (hydrogen, electric, and solar-powered) in the European market is high, owing to the rise in demand for carbon-neutral airplanes. Increasing investments in R&D in prominent countries, such as Germany, the UK, France, Spain, and other countries, are expected to supplement the market growth. The rise in investment by Airbus S.A.S., ZeroAvia, Inc., Pipistrel d.o.o., and AeroDelft is anticipated to boost the development of zero-emission aircraft in the region during the forecast timeframe.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the zero-emission aircraft market. It also consists of leading companies such as AeroDelft, Eviation Aircraft, Lilium, Wright Electric, Airbus S.A.S., Bye Aerospace, HES Energy Systems Joby Aviation, Pipistrel d.o.o, and ZeroAvia, Inc. These market players have focused on acquisitions and expansion to gain a larger market share in the zero-emission aircraft market.

Browse complete report: https://www.marketstatsville.com/zero-emission-aircraft-market

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