Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Hybrid Electric Jet Market – Insights
The hybrid electric jets are the aircrafts powered with the electric motors. The electricity is supplied through several methods such as batteries, solar cells, ultra capacitors, fuel cells, and power beaming. Electrified hybrid aircrafts are cleaner as compared to conventional models. The aviation industry is focused in reducing the fuel use and carbon emissions by manufacturing lightweight plane, efficient engines, and airlines using the biofuel blends for better traffic flow management. For instance, according to Coherent Market Insights analysis, the aviation produces around 2% of the world’s carbon emissions. Therefore, to reduce the emissions, many of the companies’ such as Zunum Aero, JetBlue Technology are planning for the low-carbon flying future.
Hybrid Electric Jet Market Key Driving Factor
Decrease in the green gas emissions is the major factor driving growth of the global hybrid electric jet market
Decreasing the green gas emissions such as carbon dioxide, methane, nitrous oxide and among others is the major factor driving growth of the global hybrid electric jet market. The jets using conventional motors results in green gas emissions, which is the major environmental concerns. For instance, according to the Europe Aviation Safety Agency (ESEA), utilization of electric engines in the jet is expected to reduce 75% of Carbon Dioxide (CO2) and 90% of Nitrous Oxide (NOx) along with reduction in the noise levels to 65% by 2050. Furthermore, according to the Flightpath 2050 plan, the European Commission aims to reduce carbon dioxide emissions by 60%, nitrogen oxide pollution by 90%, and noise reduction of 75%. Moreover, apart from the environmental benefits, a hybrid electric jets could benefit in saving the carriers money on the fuel costs. Also, it reduces the noise pollution, as they are quieter and also enables the carriers to fly more at night especially in airports close to city centers, which in turn is positively influencing growth of the market.
Hybrid Electric Jet Market Restraint
Major factor restraining growth of the market is increasing cost of operations such as cost of the lithium-ion battery packs in the electric engines.
Figure: Global Hybrid Electric Jet Market Value (US$ Million), by Region, 2026
Source: Coherent Market Insights Analysis, 2018
Global Hybrid Electric Jet Market: Regional Insights
On basis of region, the global hybrid electric jet market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Europe is expected to exhibit the highest growth in the market during the forecast period, owing to the presence of large number of manufacturers such as Airbus SE, Rolls Royce, Siemens AG, Boeing, and EasyJet. Europe is projected to retain its dominance in market over the forecast period, owing to increasing number of manufactures, collaboration, and partnerships. For instance, in November 2017, the European manufacturers Airbus SE, Rolls Royce, and Siemens AG collaborated to build a hybrid electric plane called E-FAN X, which will be based on the modified 100-seat British Aerospace 146 (BAe146) regional aircraft. This modification includes replacement of the conventional motor with the two megawatt electric motor. Moreover, the Airbus will be responsible for integrating the engines with flight controls, Rolls Royce will improve the turbo-shaft engine with the two megawatt generator, and power electronics. Moreover, the generator and power electronic systems will be integrated to reduce the weight of the aircraft. Siemens will be responsible for delivering the power distribution network. The turbine powering the generator will operate on the jet fuel, which will provide the power for electric engine. Moreover, any excess power from the generator will be stored in banks of batteries with the stored energy to be used during take-off and landing. Furthermore, in September 2017, EasyJet, a major European carrier, started working with U.S. startup Wright Electric to build an all-electric airliner within a decade.
The major players operating in the hybrid electric jet market include Zunum Aero, Boeing HorizonX, Uber Technologies Inc, JetBlue Technology, Siemens AG, Airbus SE, Rolls Royce, Lilium, EasyJet Ltd., and Wright Electric.