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Zero Emission Aircraft Market Trends

Report ID: GMI7634
Published Date: Dec 2023
Report Format: PDF

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Zero Emission Aircraft Market Trends

The aviation industry is increasingly focusing on hydrogen fuel cell technology as a promising alternative for zero-emission aircraft propulsion. Hydrogen fuel cells offer a clean and efficient power source, producing electricity with water vapor as the only by-product. This growing focus reflects a commitment to exploring diverse sustainable energy solutions and addressing the challenges of long-range, zero-emission flight through advancements in hydrogen fuel cell integration. For instance, in December 2023, Airbus revealed a hydrogen-powered fuel cell for its zero-emission aircraft slated for service by 2035. This propulsion system stands as a potential solution, emphasizing the company's commitment to developing and implementing sustainable technologies to achieve a carbon-neutral aviation future.

Rapid urbanization and congestion concerns have spurred rising interest & investment in Urban Air Mobility (UAM). This trend drives the development of zero-emission Electric Vertical Takeoff and Landing (eVTOL) aircraft tailored for urban transport. UAM envisions efficient, point-to-point air travel within cities, alleviating ground congestion. Increased investments indicate a shift toward sustainable, on-demand air transportation, addressing urban mobility challenges and fostering the growth of zero-emission aircraft technologies.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for zero emission aircraft was USD 6.4 billion in 2023 and is expected to register over 13% CAGR from 2024-2032 due to the surge in environmental regulations and the heightened focus on sustainability goals worldwide.

The hydrogen fuel cell aircraft segment held 30% share of the zero-emission aircraft industry in 2023 owing to higher adoption for addressing the challenges of long-range zero-emission flights and offering a clean and efficient propulsion solution.

North America held 30% share of the zero emission aircraft industry in 2023 and is expected to register commendable CAGR from 2024-2032 due to the growing commitment to sustainability coupled with substantial investments in R&D activities in the region.

Airbus, Rolls-Royce plc, HES Energy Systems, Aurora Flight Sciences (The Boeing Company), BYE AEROSPACE, Lilium, and Eviation Aircraft are some of the major zero-emission aircraft companies worldwide.