Hydrogen Aircraft Global Market Size, Industry Trends, Analysis 2023 To 2032

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The Hydrogen Aircraft Global Market Report 2023 by The Business Research Company, provides hydrogen aircraft market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Hydrogen Aircraft Global Market Report 2023, the global hydrogen aircraft market size grew from $1.06 billion in 2022 to $1.26 billion in 2023 at a compound annual growth rate (CAGR) of 18.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the hydrogen aircraft market is expected to grow to $2.83 billion in 2027 at a CAGR of 22.5%.
An increase in air passenger traffic across the globe is expected to propel the growth of the hydrogen aircraft market. Air passenger traffic refers to scheduled passengers (number of people who have booked a flight with a commercial airline, excluding charter flights) handled by the global airline industry. With the rising number of passengers, more flights are in operation than ever before, leading to pollution due to the emittance of harmful gases by aircraft. To overcome the problem of pollution, hydrogen-based aircraft comes out to be a clean option.

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The hydrogen aircraft market is segmented:

1) By Technology: Fully Hydrogen Powered Aircraft, Hybrid Electric Aircraft, Hydrogen Fuel Cell Aircraft, Liquid Hydrogen Aircraft
2) By Power Source: Hydrogen Combustion, Hydrogen Fuel Cell
3) By Range: 20 km To 100 km, More Than 100 km, Up To 20 km
4) By Platform: Air Taxis, Business Jets, Unmanned Aerial Vehicles

The development of unmanned aircraft powered by hydrogen is a key trend in the hydrogen aircraft market. Unmanned aerial vehicles (UAVs) are aircraft that do not have a human pilot or passengers. UAVs, sometimes known as “drones,” can be totally or partially automated, but they are generally piloted remotely by a human. Many companies are moving towards developing unmanned aircraft powered by hydrogen to leverage hydrogen as a sustainable fuel source. In January 2022, Drone Works, a Japanese drone company, partnered with H3 Dynamics, a Singapore-based air mobility technology company, to build a hydrogen-powered drone. H3 Dynamics’ Aerostak hydrogen fuel cell system contains a special grade proton-exchange membrane (PEM) fuel cell stack, control electronics, lightweight enclosures with integrated air conditioning fans, and a LiPo (lithium-ion polymer)-compatible hybrid electronic board. The lightweight hydrogen-powered drone can fly longer than drones powered by lithium batteries.

The hydrogen aircraft market report table of contents includes: