Hydrogen Aircraft Market by Passenger Capacity (Less than 100, 100-200, and More than 200), Range (Short Haul, Medium Haul, and Long Haul), and Application (Passenger Aircraft and Cargo Aircraft): Global Opportunity Analysis and Industry Forecast, 2030-2040 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Hydrogen Aircraft market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Hydrogen Aircraft market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis
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“Hydrogen Aircraft Market by Passenger Capacity, Range, and Application: Opportunity Analysis and Industry Forecast, 2030-2040,” the global hydrogen aircraft market is anticipated to amount to $27.68 billion in 2030, and is projected to reach $174.02 billion by 2040, registering a CAGR of 20.2%.
Europe dominates the market in terms of revenue, followed by North America, Asia-Pacific, and LAMEA. UK is expected to dominate the global hydrogen aircraft market share in 2030, and is projected to grow at a significant rate during the forecast period, due to increase in government funding for the procurement for hydrogen aircraft.
The current generation of aircraft consumes a huge quantity of fossil fuel (kerosene). The burning of kerosene releases carbon dioxide (CO2), nitric oxide and nitrogen oxide (NOx), sulfur oxides (SO2), and soot. Fossil fuels are depleting at an alarming rate and according to the Millennium Alliance for Humanity and Biosphere (MAHB), the earth’s oil reserves will deplete by 2052. This calls for an environment friendly, clean fuel to be used in the aviation sector. Hydrogen is one practical option that can substitute the jet-fuel by the next decade/s. Hydrogen as an energy carrier for usage in aircraft has some exceptional characteristics, for instance, global availability, minimum pollution, and lightweight, and safety, thus making it a suitable aviation fuel.
Several governments are funding the development of hydrogen aircraft to push the research, innovation, and technological developments required for the production of next-generation zero-emission aircraft in the near future. For instance, recently, in 2020, the French, German, and Spain Governments announced the funding for Airbus’s development plans for hydrogen aircraft. These governments have pledged to go carbon neutral by 2050. Airbus S.A.S. plans to launch its first hydrogen aircraft in the market by 2035. Other major players operating in the market are The Boeing Company, ZeroAvia Inc., and others. ZeroAvia Inc. in December 2020 secured a US $16.6 million funding from the UK government to deliver a 19-seater hydro-electric powered aircraft by 2023. Such advances are anticipated to drive the growth of the hydrogen aircraft market during the forecast timeframe.
Presently, hydrogen is extracted from the water utilizing the energy from non-renewable sources, which increases the cost of hydrogen production. As the production of renewable energy is increasing rapidly across the globe, clean sources (solar, wind, among others) can be employed for the production of hydrogen, which will lead to a significant reduction in the production of hydrogen as compared with today. This clean hydrogen is expected to be a cost-effective solution for next-generation hydrogen-fuelled aircraft
By passenger capacity, the market is categorized into Less than 100, 100-200, and More than 200. The Less than 100 segment is anticipated to account for the highest revenue in 2030, owing to the comparative simpler designs as compared with others. However, the 100-200 segment is anticipated to witness the highest CAGR of 22.30% during the forecast period, owing to increasing demand for hydrogen fuelled aircraft that can occupy significant number of passengers. The 100-200 segment is anticipated to grow at a faster rate owing to the higher feasibility of the hydrogen aircraft having passenger capacity between 100 to 200.
On the basis of range, the hydrogen aircraft market is segregated into Short Haul, Medium Haul, and Long Haul. Short Haul segment is expected to account for over 49% market share in 2030, owing to surge in development for short-haul hydrogen aircrafts. Moreover, short-haul hydrogen aircraft are anticipated to be the first to enter the market.
On the basis of application, the hydrogen aircraft market is segregated into passenger aircraft and cargo aircraft. Passenger aircraft segment is expected to account for over 92% market share in 2030, owing to increase in demand for passenger hydrogen-fuelled aircraft worldwide. Moreover, increasing initiatives by the industry leaders to design passenger hydrogen-fuelled aircraft are anticipated to drive the growth for passenger aircraft.
Factors such as increase in air passenger traffic across the globe are expected to drive the growth of the global hydrogen aircraft market. However, huge investments required for the approval and certification of hydrogen based aircrafts is expected to restrain the growth of the market during the forecast period. Conversely, the growth in infrastructural development for hydrogen across the globe is expected to offer potential opportunities for the global hydrogen aircraft market during the forecast period.
COVID-19 Impact Analysis
The COVID impact on the hydrogen aircraft market is unpredictable and it is expected to remain in force till the second quarter of the 2021.
The COVID-19 outbreak has forced the governments across the globe to focus on medical services. Owing to this, the countries are directing most of the capital in the healthcare sector which is affecting the investments in hydrogen aircraft sector.
Moreover, the nationwide lockdown forced the R&D facilities of the hydrogen aircraft to cut-short the full operations of the facilities.
The adverse impacts of the COVID-19 pandemic have resulted in the delays in the activities and initiatives regarding the development of hydrogen based aircrafts
Key Findings Of The Study
By passenger capacity, the 101-200 segment is expected to register a significant growth during the forecast period.
By range, the Medium Haul segment is anticipated to exhibit significant growth in the near future.
By application, the cargo aircraft segment is projected to lead the global hydrogen aircraft market owing to higher CAGR as compared to other applications.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The key players analyzed in this report are 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.
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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
- Market size and growth rate during forecast period.
- Key factors driving the Market.
- Key market trends cracking up the growth of the Market.
- Challenges to market growth.
- Key vendors of Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is market chain analysis by upstream raw materials and downstream industry?
- What is industry considering capacity, production and production value? What will be the estimation of cost and profit? What will be market share, supply and consumption? What about import and export?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
- What were capacity, production value, cost and profit?
- Who are the global key players in this industry? What are their company profile, their product information, and contact information?
- Which manufacturing technology is used, what are their company profile, their product information, and contact information?
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Key Points Covered in Hydrogen Aircraft Market Report:
Chapter 1 COVID-19 Outbreak-Global Hydrogen Aircraft Market Business Overview
Chapter 2 Major Breakdown by Type
Chapter 3 Major Application Wise Breakdown (Revenue & Volume)
Chapter 4 Manufacture Market Breakdown
Chapter 5 Sales & Estimates Market Study
Chapter 6 Key Manufacturers Production and Sales Market Comparison Breakdown
Chapter 8 Manufacturers, Deals and Closings Market Evaluation & Aggressiveness
Chapter 9 Key Companies Breakdown by Overall Market Size & Revenue by Type
Chapter 11 Business / Industry Chain (Value & Supply Chain Analysis)
Chapter 12 Conclusions & Appendix
……..and view more in complete table of Contents
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