ZERO EMISSION AIRCRAFT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The zero emission aircraft market is estimated to be valued at USD 7.68 Billion in 2024 and is expected to reach USD 22.1 Billion by 2031, growing at a compound annual growth rate (CAGR) of 16.3% from 2024 to 2031.
Report Description
The demand for zero emission aircraft is expected to grow significantly over the coming years. With growing concerns about environmental pollution and focus on reducing carbon footprint of air travel, aircraft manufacturers are investing heavily in developing electric and hydrogen powered aircraft. Several companies are conducting test flights to assess the viability of battery as well as hydrogen fuel cell technology for commercial aviation. It is believed that zero emission aircraft could help reduce operating costs for airlines as well as open up new flight routes. The global regulators are also supportive of the development of hybrid, electric, and hydrogen aircraft as it would help the aviation industry achieve carbon neutrality in the long run.
Market Dynamics:
The zero emission aircraft market is driven by stringent emission norms for aircraft, high fuel costs, and focus on sustainable air travel. However, limitations of current battery technology, lack of hydrogen infrastructure, and high development costs pose challenges to the near term adoption of such aircraft. Emerging technologies in battery cells, fuel cells, and alternative fuels would provide significant opportunities for manufacturers to develop viable and larger zero emission aircraft in the coming decade. Successful test flights of electric and hydrogen-powered aircraft indicate that the market is likely to take off in the long run. Collaboration between governments, OEMs, and energy players would be critical to overcome barriers.
Key Features of the Study:
- This report provides an in-depth analysis of the global zero emission aircraft market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global zero emission aircraft market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include AeroDelft, Airbus S.A.S., Ampaire Inc., Avinor AS, BETA Technologies, Inc., Bye Aerospace, Equator Aircraft AS, Evektor, spol. s r. o., Eviation Aircraft, Heart Aerospace, HES Energy Systems, Joby Aero, Inc., Lilium GmbH, NASA, Pipistrel d.o.o, Rolls-Royce plc, Wright Electric, and ZeroAvia, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global zero emission aircraft market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Market Segmentation
Market Segmentation
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