Before the strike of the Covid-19 pandemic on the aviation industry in 2020, commercial aviation was responsible for the majority of carbon emissions worldwide. However, commercial aviation tends to improve and bring more efficiency, and it is actively looking for alternatives like hydrogen aircraft to curb carbon emissions.
Hydrogen can be utilized in an aircraft to power the fuel cell and run the propellers. However, stakeholders are still working on this technology, and hydrogen aircraft remains at its developmental phase with rigorously ongoing research & developments.
According to MarkNtel Advisors, the Global Hydrogen Aircraft Market is projected to grow at a CAGR of 27.5% during 2022-27. The most prominent factor that would drive the market is the swiftly rapidly increasing passenger & air traffic worldwide entwined with the mounting focus of governments of different countries on bringing fuel alternatives to curb carbon emissions.
Besides, the surging participation of start-ups coupled with the collaboration of governments with private airline companies to attain zero-emission in their respective aviation industries and introduce environmental-friendly aircraft shall also drive the market in the coming years. For instance, ZeroAvia, with support from the UK government, is developing hydrogen aircraft and actively moving toward zero-emission.
UAVs to Witness the Highest Demand through 2027
The application of hydrogen fuel cells in drones can offer enhanced performance characteristics while protecting the environment. Once commercialized, hydrogen fuel cell-powered drones could fly for up to 3hours with a 3kg payload, sufficing the requirements of nearly 90% of site surveillance & industrial inspection applications. A few demonstrations conducted by one of the market leaders cited that drones with hydrogen fuel cells could fly up to 2 hours with 1 minute of hydrogen fill time, delivering uniform performance throughout each flight, unlike battery-powered drones. Hence, these aspects indicate that Hydrogen UAVs (once commercially deployed) shall witness the maximum demand in the coming years.
Europe to Make Significant Contributions to the Global Hydrogen Aircraft Market Growth
The prominent presence of companies like ZeroAvia & Airbus in Europe is the prime aspect behind the regional market growth. ZeroAvia has financial support from the UK government & numerous leading players for developing hydrogen-powered aircraft and building a project called HyFlyer to decarbonize medium-range small passenger aircraft by demonstrating powertrain technology.
Moreover, Netherlands-based Airbus also proposed to deploy 3 concept planes commercially by 2035, namely, Turboprop, Turbofan, & Blended-Wing Body, all consisting of hybrid-hydrogen engines for thrust. Hence, these aspects shall provide lucrative growth opportunities to the European market in the coming years, reveals MarkNtel Advisors in their research report, "Global Hydrogen Aircraft Market Analysis, 2022."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Hydrogen Aircraft Market are Airbus SE, Alaka’i Technologies, Pipistrel d.o.o Ajdovš?ina, Tupolev PJSC, Urban Aeronautics Ltd., ZeroAvia, INC., Honeywell International Inc., Hydrogenics, Aerovironment Inc., Flyka, HyPoint Inc., Doosan Corporation, Apus Group, Intelligent Energy, Universal Hydrogen.
Key Questions Answered in the Study