USD 2.30 Billion
Global Aircraft Fuel Cell Market Size, Share, Growth Analysis, By Fuel cell(Hydrogen fuel cells, Methanol fuel cells), By Application(Auxiliary Power Units (APUs), Main Propulsion Systems) - Industry Forecast 2024-2031
Report ID:
SQMIG10B2083 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
75
Global Aircraft Fuel Cell Market Insights
Aircraft Fuel Cell Market size was valued at USD 2.30 Billion in 2021 and is poised to grow from USD 2.9 Billion in 2022 to USD 18.42 Billion by 2030, at a CAGR of 26% during the forecast period (2023-2030).
The global aircraft fuel cell market was experiencing steady growth, driven by various factors and innovations in aviation technology. One of the primary drivers behind this market growth is the increasing demand for sustainable and environmentally friendly aviation solutions as the industry faces mounting pressure to address its environmental impact. A key driver is the growing awareness among airlines and aircraft manufacturers about the need to adopt greener technologies. Governments and regulatory bodies worldwide are also encouraging the adoption of cleaner propulsion systems, providing incentives and grants to promote the development and integration of fuel cells in aircraft. Furthermore, advances in fuel cell technology, such as higher energy densities, improved reliability, and reduced weight, are making fuel cells more viable for aviation applications. As these technological advancements continue, the aircraft fuel cell market is expected to witness further growth. However, despite the promising outlook, there are several challenges that hinder the widespread adoption of fuel cells in the aviation industry. One significant challenge is the high initial cost of developing and implementing fuel cell systems in aircraft. The substantial investment required for research, development, and certification of new aviation technologies can deter some stakeholders from embracing these alternatives. Additionally, the limited infrastructure for hydrogen refuelling poses a challenge to the adoption of fuel cell aircraft. Hydrogen infrastructure is currently not as extensive or readily available as traditional aviation fuel facilities, which can hinder the practicality of using fuel cell-powered aircraft, especially for long-haul flights. Another obstacle lies in the weight and space constraints of aircraft, where any additional weight from fuel cells might impact performance and payload capacity. As aircraft manufacturers strive for fuel efficiency, finding a balance between incorporating fuel cells and maintaining overall aircraft performance becomes a critical concern.
US Aircraft Fuel Cell Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hydrogen
Fastest Growth
Hydrogen
Growth Rate
26% CAGR
Global Aircraft Fuel Cell Market ($ Bn)
Country Share for North America Region (%)
Global Aircraft Fuel Cell Market By Fuel cell ($ Bn)
Global Aircraft Fuel Cell Market By Fuel Cell (%)
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Global Aircraft Fuel Cell Market Segmental Analysis
The global Aircraft Fuel Cell market is segmented on the basis of fuel cell, application, and region. By fuel cell, the market is segmented into Hydrogen fuel cells, Methanol fuel cells, and Biofuel cells. By application, the market is segmented into Auxiliary Power Units (APUs), Main Propulsion Systems, and Emergency Power Systems. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Aircraft Fuel Cell Market Analysis By Fuel cell
The global aircraft fuel cell market can be segmented based on the type of fuel cell used, with three primary categories: Hydrogen fuel cells, Methanol fuel cells, and Biofuel cells. Among these segments, hydrogen fuel cells currently dominate the market. Hydrogen fuel cells offer several advantages, including high energy density, zero greenhouse gas emissions when used with pure hydrogen, and the potential for rapid refuelling. As a result, many aviation companies and researchers are focusing on hydrogen fuel cells as a promising alternative to traditional fossil fuels, especially for small and medium-sized aircraft.
On the other hand, the fastest-growing segment in the global aircraft fuel cell market is biofuel cells. Biofuel cells utilise biological processes to convert organic matter into electricity, making them an attractive option for sustainable aviation. The use of biofuels in aircraft fuel cells helps reduce carbon emissions and dependence on fossil fuels, aligning with the aviation industry's increasing emphasis on environmental responsibility and eco-friendly solutions. The fast-paced growth of biofuel cells is primarily driven by advancements in biofuel technology, increased investments in sustainable aviation, and supportive government policies promoting the use of renewable energy sources in the aerospace sector.
Aircraft Fuel Cell Market Analysis By Application
The global aircraft fuel cells market can also be segmented based on application, with three primary categories: Auxiliary Power Units (APUs), Main Propulsion Systems, and Emergency Power Systems. Currently, the dominant segment in the market is the Auxiliary Power Units (APUs). APUs are small power units installed on aircraft that provide auxiliary electric power when the main engines are not running, such as during ground operations or when the aircraft is parked. Fuel cells have proven to be an efficient and environmentally friendly solution for APUs, as they can significantly reduce emissions and noise compared to traditional APU systems that rely on combustion engines. Airlines and aircraft manufacturers are increasingly adopting fuel cell-based APUs to enhance operational efficiency and reduce their environmental footprint, making this segment the prevailing choice in the market.
As for the fastest-growing segment, it is the Main Propulsion Systems. While hydrogen fuel cells are currently the most suitable option for APUs, the development of larger fuel cell systems has led to their integration as main propulsion systems in smaller aircraft and unmanned aerial vehicles (UAVs). Fuel cells offer a viable alternative to internal combustion engines for certain aircraft, particularly in the urban air mobility and small regional aircraft sectors. The main propulsion systems using fuel cells are experiencing rapid growth due to increasing research and investments in developing fuel cell technologies for larger aircraft, as well as the demand for cleaner, more sustainable propulsion solutions in the aviation industry.
Global Aircraft Fuel Cell Market By Fuel cell, 2023 (%)
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Global Aircraft Fuel Cell Market Regional Insights
One dominant region in the global aircraft fuel cells market was North America. The United States, in particular, has been at the forefront of research, development, and implementation of fuel cell technologies in the aviation industry. The region's dominance can be attributed to strong support from the government, robust investments in clean energy solutions, and a thriving aerospace industry. Additionally, the presence of major aircraft manufacturers and aerospace research institutions in North America has accelerated the integration of fuel cells into aircraft systems. The market dominance in this region is likely to persist, with continuous advancements in fuel cell technology and increasing demand for environmentally friendly aviation solutions.
The fastest-growing region in the global aircraft fuel cells market was the Asia-Pacific. Countries like China, Japan, and South Korea have been actively exploring sustainable aviation alternatives to address environmental concerns and reduce greenhouse gas emissions. The rapid growth in the Asia-Pacific region is driven by a combination of factors, including supportive government policies, increasing investments in renewable energy technologies, and a growing demand for air travel. With a considerable focus on advancing aviation capabilities and the rising need for eco-friendly solutions, the Asia-Pacific region is expected to witness significant growth in fuel cell adoption in aircraft, positioning it as one of the leading players in the global market.
Global Aircraft Fuel Cell Market By Region, 2024-2031
- Largest
- Fastest
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Global Aircraft Fuel Cell Market Dynamics
Aircraft Fuel Cell Market Drivers
Government Initiatives and Regulations
- Governments worldwide are increasingly implementing regulations and policies to promote sustainable aviation and reduce carbon footprints. Supportive measures, such as tax incentives, grants, and emission reduction targets, encourage airlines and aircraft manufacturers to invest in fuel cell technologies.
Technological Advancements
- Continuous research and development efforts have led to significant improvements in fuel cell technology. Higher energy densities, improved efficiency, and enhanced durability make fuel cells more viable for aviation applications, driving their adoption.
Aircraft Fuel Cell Market Restraints
High Initial Costs
- The development and implementation of fuel cell systems in aircraft involve substantial research, engineering, and certification costs. The high upfront investment can be a significant barrier for some stakeholders, especially in a price-sensitive industry.
Limited Infrastructure
- The availability of hydrogen refuelling infrastructure is limited compared to traditional aviation fuel facilities. The lack of a well-established refuelling network for hydrogen fuel cells may hinder the widespread adoption of fuel cell-powered aircraft.
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Global Aircraft Fuel Cell Market Competitive Landscape
The global aircraft fuel cells market features a competitive landscape characterised by a mix of established aerospace companies, innovative startups, and research institutions. As the industry focuses on developing cleaner and more sustainable aviation solutions, competition among players intensifies, leading to significant investments in research and development. Aircraft manufacturers and key aerospace companies are actively exploring partnerships and collaborations with fuel cell technology providers to integrate fuel cells into their aircraft systems. These partnerships enable the seamless integration of fuel cell technology, leveraging the expertise of both aviation and fuel cell specialists. Innovative startups and research institutions are also contributing to the competitive landscape by developing cutting-edge fuel cell technologies specifically tailored for aviation applications. Their agile and innovative approaches often lead to groundbreaking advancements, which can disrupt the market and attract attention from larger industry players. Moreover, the competitive landscape is influenced by government initiatives and policies promoting the adoption of cleaner propulsion systems. Incentives and grants provided by various governments worldwide encourage companies to invest in fuel cell technologies, fostering healthy competition and market growth.
Aircraft Fuel Cell Market Top Player’s Company Profile
- Ballard Power Systems Inc. - Canada
- Airbus SE - France
- Plug Power Inc. - USA
- United Technologies Corporation (UTC) - USA (Now part of Raytheon Technologies)
- Safran -France
- Bloom Energy Corporation - USA
- Boeing Company - USA
- EnergyOR Technologies Inc. - Canada
- PowerCell Sweden AB - Sweden
- Intelligent Energy Holdings plc - United Kingdom
- HES Energy Systems - Singapore
- Serenergy A/S - Denmark
- Microvast Inc. - USA
- ZeroAvia Inc. - USA
- FlyH2 Aerospace - USA
- SFC Energy AG - Germany
- Nuvera Fuel Cells LLC - USA
- Intelligent Energy Inc. - USA
- Plug Power Europe GmbH - Germany
- Horizon Fuel Cell Technologies Pte Ltd - Singapore
Aircraft Fuel Cell Market Recent Developments
- In January 2023, ZeroAvia announced that it had completed a successful test flight of its 600kW hydrogen-electric powertrain on a Dornier 228 aircraft.
- In February 2023, Airbus and CFM International announced plans to test a hydrogen-fueled engine on an A380 aircraft.
Global Aircraft Fuel Cell Key Market Trends
- Growing Focus on Sustainability: The aviation industry's increasing emphasis on sustainability and environmental responsibility has been a key driving force behind the adoption of fuel cells. Airlines, aircraft manufacturers, and regulatory bodies are seeking greener alternatives to traditional aviation fuels, leading to a rise in research and investment in fuel cell technology.
- Increasing Use of Hydrogen as a Fuel Source: Hydrogen fuel cells have garnered significant attention due to their potential to provide zero-emission power for aircraft. Hydrogen is a versatile fuel and can be produced through renewable sources, making it an attractive option for sustainable aviation.
Global Aircraft Fuel Cell Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Aircraft Fuel Cell market analysis, North america was the dominant region in the global aircraft fuel cells market and the fastest-growing region in the global aircraft fuel cells market was the Asia-Pacific. The global aircraft fuel cells market is undergoing a transformative shift as the aviation industry seeks greener and more sustainable alternatives to traditional fossil-fuel-based propulsion systems. Fuel cells have emerged as a promising solution to address environmental concerns, offering higher energy efficiency and lower greenhouse gas emissions. The market is driven by increasing government initiatives and regulations promoting sustainable aviation, along with growing awareness among airlines and aircraft manufacturers about the need for eco-friendly technologies. Hydrogen fuel cells, in particular, are gaining traction due to their zero-emission potential and versatility in various aviation applications. The market also witnesses significant investments in research and development, leading to technological advancements in fuel cell efficiency and durability. Moreover, collaborations between fuel cell specialists and aerospace companies are fostering innovation and accelerating the integration of fuel cells into aircraft systems. Despite challenges like high initial costs and limited hydrogen infrastructure, the global aircraft fuel cells market is poised for significant growth in the coming years. As industry stakeholders continue to prioritise sustainability and address environmental concerns, fuel cells are expected to play a pivotal role in shaping the future of aviation, ushering in a new era of cleaner and more sustainable air travel.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.30 Billion |
| Market size value in 2031 | USD 18.42 Billion |
| Growth Rate | 26% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aircraft Fuel Cell Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aircraft Fuel Cell Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aircraft Fuel Cell Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aircraft Fuel Cell Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aircraft Fuel Cell Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aircraft Fuel Cell Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aircraft Fuel Cell Market Report Snapshots
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