Global Hydrogen Aircraft Market is valued at approximately USD 10.16 Billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.4% over the forecast period 2024-2032. A hydrogen airplane is an aircraft that utilizes hydrogen as its primary fuel source instead of conventional jet fuel. Hydrogen-powered aircraft are expected to be a solution to decarbonize the aviation sector, aligning with global initiatives to combat climate change and reduce greenhouse gas emissions. The two main models of hydrogen aircraft are combustion hydrogen planes and fuel cell hydrogen planes. Research on hydrogen as a potential fuel to power zero-emission aircraft has been on the rise in recent years. The aviation sector is working to develop technologies to tackle challenges associated with hydrogen storage, public perceptions of safety, and cost.
The hydrogen aircraft market is significantly influenced by the increase in air passenger traffic, rising environmental awareness, and stringent zero-emission targets. Global air passenger numbers have been on a steady rise, with the International Air Transport Association (IATA) forecasting a doubling from 4.5 billion in 2019 to over 8 billion by 2037. This surge in air travel necessitates more sustainable aviation solutions to mitigate environmental impact. Moreover, the development of a green hydrogen ecosystem and increasing R&D investments present various lucrative opportunities over the forecast years. However, the high costs associated with the production and handling of hydrogen, technical challenges related to aircraft design, and hydrogen storage are challenging the market growth throughout the forecast period of 2024-2032.
The key regions considered for the Global Hydrogen Aircraft Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is a dominating region in the Global Hydrogen Aircraft Market in terms of revenue. The market growth in the region is being attributed to factors including technological development and implementation of sustainable aviation practices. This dominance is fueled by strong governmental support, including the European Union's Green Deal, which aims to achieve climate neutrality by 2050. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rising middle-class populations and increasing demand for air travel, further accelerating the adoption of hydrogen aircraft in Asia-Pacific.
Major market player included in this report are:
- Thales
- AeroVironment, Inc.
- GKN Aerospace
- Pipistrel
- Urban Aeronautics Ltd
- Alaka'I
- Airbus
- AeroDelft
- HES Energy Systems
- ZeroAvia, Inc.
- Boeing Company
- Universal Hydrogen Co.
- Rolls-Royce Holdings plc
- Honeywell Aerospace
- Hydrogen Aviation Ltd. (H2Avia)
The detailed segments and sub-segment of the market are explained below:
By Passenger Capacity:
- Less than 100
- 101 to 200
- More than 200
By Range:
- Short Haul (less than 1000 Km)
- Medium Haul (1000 to 2000 Km)
- Long Haul (above 2000 Km)
By Application:
- Passenger Aircraft
- Cargo Aircraft
By Power Source:
- Liquid Hydrogen Aircraft
- Fully Hydrogen Powered Aircraft
- Hybrid Electric Aircraft
- Hydrogen Fuel Cell Aircraft
By Power Output:
- 0 to 100 KW
- 100 KW to 1 MW
- 1 MW and Above
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Hydrogen Aircraft Market Executive Summary
- 1.1. Global Hydrogen Aircraft Market Size & Forecast (2022- 2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Passenger Capacity
- 1.3.2. By Range
- 1.3.3. By Application
- 1.3.4. By Power Source
- 1.3.5. By Power Output
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Hydrogen Aircraft Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Hydrogen Aircraft Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increase In Air Passenger Traffic Across the Globe
- 3.1.2. Rise In the Environmental Awareness and Zero Emission Targets
- 3.2. Market Challenges
- 3.2.1. High Costs Associated with Production and Handling Of Hydrogen
- 3.2.2. Technical Challenges Related to Aircraft Design, And Hydrogen Storage
- 3.3. Market Opportunities
- 3.3.1. Development Of Green Hydrogen Ecosystem
- 3.3.2. Increasing R&D Investments
Chapter 4. Global Hydrogen Aircraft Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Hydrogen Aircraft Market Size & Forecasts by Passenger Capacity 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Hydrogen Aircraft Market: Passenger Capacity Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Less than 100
- 5.2.2. 101 to 200
- 5.2.3. More than 200
Chapter 6. Global Hydrogen Aircraft Market Size & Forecasts by Range 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Hydrogen Aircraft Market: Range Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Short Haul (less than 1000 Km)
- 6.2.2. Medium Haul (1000 to 2000 Km)
- 6.2.3. Long Haul (above 2000 Km)
Chapter 7. Global Hydrogen Aircraft Market Size & Forecasts by Application 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Hydrogen Aircraft Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Passenger Aircraft
- 7.2.2. Cargo Aircraft
Chapter 8. Global Hydrogen Aircraft Market Size & Forecasts by Power Source 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Hydrogen Aircraft Market: Power Source Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Liquid Hydrogen Aircraft
- 8.2.2. Fully Hydrogen Powered Aircraft
- 8.2.3. Hybrid Electric Aircraft
- 8.2.4. Hydrogen Fuel Cell Aircraft
Chapter 9. Global Hydrogen Aircraft Market Size & Forecasts by Power Output 2022-2032
- 9.1. Segment Dashboard
- 9.2. Global Hydrogen Aircraft Market: Power Output Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 9.2.1. 0 to 100 KW
- 9.2.2. 100 KW to 1 MW
- 9.2.3. 1 MW and Above
Chapter 10. Global Hydrogen Aircraft Market Size & Forecasts by Region 2022-2032
- 10.1. North America Hydrogen Aircraft Market
- 10.1.1. U.S. Hydrogen Aircraft Market
- 10.1.1.1. Passenger Capacity breakdown size & forecasts, 2022-2032
- 10.1.1.2. Range breakdown size & forecasts, 2022-2032
- 10.1.1.3. Application breakdown size & forecasts, 2022-2032
- 10.1.1.4. Power Source breakdown size & forecasts, 2022-2032
- 10.1.1.5. Power Output breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Hydrogen Aircraft Market
- 10.2. Europe Hydrogen Aircraft Market
- 10.2.1. U.K. Hydrogen Aircraft Market
- 10.2.2. Germany Hydrogen Aircraft Market
- 10.2.3. France Hydrogen Aircraft Market
- 10.2.4. Spain Hydrogen Aircraft Market
- 10.2.5. Italy Hydrogen Aircraft Market
- 10.2.6. Rest of Europe Hydrogen Aircraft Market
- 10.3. Asia-Pacific Hydrogen Aircraft Market
- 10.3.1. China Hydrogen Aircraft Market
- 10.3.2. India Hydrogen Aircraft Market
- 10.3.3. Japan Hydrogen Aircraft Market
- 10.3.4. Australia Hydrogen Aircraft Market
- 10.3.5. South Korea Hydrogen Aircraft Market
- 10.3.6. Rest of Asia Pacific Hydrogen Aircraft Market
- 10.4. Latin America Hydrogen Aircraft Market
- 10.4.1. Brazil Hydrogen Aircraft Market
- 10.4.2. Mexico Hydrogen Aircraft Market
- 10.4.3. Rest of Latin America Hydrogen Aircraft Market
- 10.5. Middle East & Africa Hydrogen Aircraft Market
- 10.5.1. Saudi Arabia Hydrogen Aircraft Market
- 10.5.2. South Africa Hydrogen Aircraft Market
- 10.5.3. Rest of Middle East & Africa Hydrogen Aircraft Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Thales
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Market Strategies
- 11.3.2. AeroVironment, Inc.
- 11.3.3. GKN Aerospace
- 11.3.4. Pipistrel
- 11.3.5. Urban Aeronautics Ltd
- 11.3.6. Alaka'i
- 11.3.7. Airbus
- 11.3.8. AeroDelft
- 11.3.9. HES Energy Systems
- 11.3.10. ZeroAvia, Inc.
- 11.3.11. Boeing Company
- 11.3.12. Universal Hydrogen Co.
- 11.3.13. Rolls-Royce Holdings plc
- 11.3.14. Honeywell Aerospace
- 11.3.15. Hydrogen Aviation Ltd. (H2Avia)
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes