Hydrogen aircraft market to value $23.71 Bn in 2030, and is set to reach $144.53 Bn by 2040, at 20.5% CAGR during 2030-2040; APAC to rake 22.4% CAGR.
PORTLAND, ORAGON, UNITED STATES, September 20, 2022 /EINPresswire.com/ — As per the report published by Allied Market Research, the global hydrogen aircraft market is estimated to be valued at $23.71 billion in 2030, and is estimated to reach $144.53 billion by 2040, witnessing a CAGR of 20.5% from 2030 to 2040. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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The economic crisis occurred due to the Covid-19 pandemic and led to the reduced expenditure on next-generation technologies such as hydrogen-fueled aircraft. Many governments lowered down their spending on many sectors and invested a hefty amount in improving healthcare facilities.
The adverse impacts of the Covid-19 pandemic led to interruption in activities and initiatives about development of hydrogen-based aircraft. Shortage of raw materials and disruptions in the supply chain presented challenges in manufacturing activities.
The report offers detailed segmentation of the global hydrogen aircraft market on the basis of passenger capacity, range, application, power source, and region.
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Based on passenger capacity, the less than 100 segment is estimated to account for the largest share in 2030, contributing to nearly four-fifths of the total share, and is estimated to continue its lead position throughout the forecast period. However, the 101 to 200 segment is expected to register the fastest CAGR of 23.1% from 2030 to 2040.
Based on application, the passenger aircraft segment held the largest share in 2030, contributing to around 89% of the total share of the global hydrogen aircraft market, and is projected to maintain its dominant share during the forecast period. However, the cargo aircraft segment is estimated to witness the largest CAGR of 23.5% from 2030 to 2040.
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Based on region, Europe contributed to the highest share in 2030, accounting for more than half of the total share, and is expected to maintain its lead position in terms of revenue by 2040. However, Asia-Pacific is estimated to portray the fastest CAGR of 22.4% during the forecast period.
Leading market players:
HES Energy Systems
The Boeing Company
Urban Aeronautics Ltd.
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