Aircraft Fuel Cells Market
Aircraft Fuel Cells Market Forecasts to 2030 - Global Analysis By Fuel Type (Hydrogen, Methanol, Biofuels and Other Fuel Types), Aircraft Type (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicle (UAV), Advanced Air Mobility (AAM) and Other Aircraft Types), Power Output, Technology, Application, End User and by Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $1.80 BN |
|
Projected Year Value (2030) |
US $3.72 BN |
|
CAGR (2024 - 2030) |
12.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Aircraft Fuel Cells Market is accounted for $1.80 billion in 2024 and is expected to reach $3.72 billion by 2030 growing at a CAGR of 12.8% during the forecast period. Advanced energy conversion technologies known as aircraft fuel cells produce only water as a by-product of the electrochemical reaction between hydrogen and oxygen to produce electricity. These cells present a viable substitute for conventional fossil fuel-based aviation propulsion systems because they are both highly efficient and environmentally benign. Moreover, a more environmentally friendly and silent aviation sector is made possible by aircraft fuel cells, which also eliminate carbon emissions and reduce noise pollution.
According to the International Air Transport Association (IATA), the adoption of fuel cell technology in aviation is a key step towards achieving the industry's goal of net-zero carbon emissions by 2050.
Market Dynamics:
Driver:
Need for eco-friendly aircraft
Airlines are adopting greener technologies as a result of growing consumer and stakeholder awareness of and demand for sustainable practices in the aviation sector. Fuel cells are thought to be essential to the transition of aviation to a more sustainable industry. Travelers, especially the younger generation, are choosing airlines that prioritize sustainability because they are more environmentally conscious. Additionally, investor pressure and corporate social responsibility programs are pressuring airlines to prove that they are committed to minimizing their environmental impact.
Restraint:
High starting prices
One major obstacle is the high upfront costs of developing and deploying aircraft fuel cell technology. The cost of producing fuel cells is increased by the need for pricey materials like platinum for catalysts. Furthermore, the production procedures for fuel cells are intricate and necessitate a substantial expenditure on specialized machinery and infrastructure. For airlines and aircraft manufacturers, these high upfront costs may be a deterrent, especially in a highly competitive and cost-sensitive industry.
Opportunity:
Improvements in the production of hydrogen
The market for aircraft fuel cells is poised for significant growth as more economical and efficient techniques for producing hydrogen are developed. Hydrogen is becoming more widely available and sustainable thanks to technologies like electrolysis that use renewable energy sources and improvements in hydrogen extraction from natural gas using carbon capture and storage (CCS). Moreover, hydrogen production should become more affordable as these technologies advance, making it a more sensible choice for fuel-cell-powered aircraft.
Threat:
Competition from well-established technologies
Other cutting-edge and well-established technologies aimed at lessening aviation's environmental impact compete fiercely with fuel cells. Developments in sustainable aviation fuels (SAFs) and electric and hybrid-electric propulsion systems are also being investigated and pursued. These alternative technologies might draw attention and investment away from fuel cells by providing different benefits like compatibility with current infrastructure, lower development costs, or higher energy densities. Additionally, fuel cell adoption may be slowed while manufacturers and airlines assess the most practical and affordable solutions due to competition from these alternative technologies.
Covid-19 Impact:
The COVID-19 pandemic caused a sharp decline in demand for air travel, disrupted supply chains, and delayed research and development, all of which had a significant impact on the aircraft fuel cell market. Due to their dire financial situation, airlines focused on cutting costs rather than investing in new technologies. The pandemic did, however, also bring attention to the significance of sustainability and resilience in the aviation sector, which may hasten the long-term adoption of greener technologies like fuel cells as the industry recovers and works to create a more resilient and environmentally friendly future.
The Fixed Wing segment is expected to be the largest during the forecast period
The fixed-wing segment generally holds the largest share in the aircraft fuel cell market. Fuel cells are frequently used to power auxiliary systems on fixed-wing aircraft, such as private jets, cargo planes, and commercial airliners. This improves operational efficiency and lowers emissions when compared to conventional combustion engines. Fuel cells are becoming more common in fixed-wing aircraft because of their capacity to deliver dependable power for extended periods of time. Moreover, this helps to minimize operating costs and improve the environment by reducing carbon emissions.
The Proton Exchange Membrane Fuel Cells (PEMFC) segment is expected to have the highest CAGR during the forecast period
The proton exchange membrane fuel cell (PEMFC) segment has the highest CAGR in the aircraft fuel cell market. PEMFCs are preferred because of their small weight, effective chemical energy conversion to electrical power, and low operating temperature, which makes them appropriate for use in aircraft. They function by facilitating the electrochemical reaction between hydrogen and oxygen with the help of a polymer electrolyte membrane, which yields heat, water vapor, and electricity as byproducts. Additionally, the adoption of PEMFCs has been fueled by the aerospace industry's growing emphasis on lowering emissions and increasing fuel efficiency, which has made them a popular option with substantial growth potential.
Region with largest share:
It is projected that the aircraft fuel cell market will be dominated by the North American region. The region's strength in terms of major aircraft manufacturers, its heavy investments in aerospace R&D, and its strict environmental regulations encouraging the adoption of cleaner technologies like fuel cells are major contributing factors to its dominance. Furthermore, fuel cell technology innovation and application in aviation are primarily led by the United States, which is aided by programs that lower carbon emissions and improve energy efficiency in aviation.
Region with highest CAGR:
With the highest CAGR, the aircraft fuel cell market is expanding significantly in the European region. Tight environmental laws designed to lower aviation's greenhouse gas emissions are the driving force behind this expansion, as they encourage the use of greener and more effective technologies like fuel cells. Investing heavily in sustainable aviation solutions, nations like Germany, France, and the UK are at the forefront of aerospace technology innovation. Moreover, Europe is positioned as a major growth market for aircraft fuel cells due to the region's emphasis on sustainable development, advances in fuel cell technology, and strong industry partnerships.
Key players in the market
Some of the key players in Aircraft Fuel Cells market include The Boeing Company, Australian Fuel Cells Pty Ltd., Honeywell International Inc., ElringKlinger AG, Advent Technologies, Safran, Plug Power, Inc., Cummins Inc., ZeroAvia Inc., GenCell Ltd., Serenergy A/S, Intelligent Energy Inc., Airbus SE, Nuvera Fuel Cells, LLC and SFC Energy AG.
Key Developments:
In July 2024, Airbus SE has entered into a binding term sheet agreement with Spirit AeroSystems in relation to a potential acquisition of major activities related to Airbus, notably the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; of the A220’s wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; as well as of the A220 pylons in Wichita, Kansas, U.S.
In May 2024, Boeing has reached a tentative agreement with International Association of Firefighters Local I-66 union members which is now up for a vote. The aircraft manufacturer had locked out its in-house firefighters at its plants in Washington state and Oregon at the beginning of May following failed negotiations.
In May 2024, Safran Helicopter Engines has signed support-by-the-hour contracts with Chinese group GDAT to support the Makila engines powering its fleet of Airbus H225 helicopters and the Arrano engines powering GD Helicopter Finance (GDHF) H160 helicopters. The two contracts cover in-service support and MRO for 140 Arrano 1A and Makila 2A1 engines. Safran Helicopter Engines China will manage the contracts.
Fuel Types Covered:
• Hydrogen
• Methanol
• Biofuels
• Other Fuel Types
Aircraft Types Covered:
• Fixed Wing
• Rotary Wing
• Unmanned Aerial Vehicle (UAV)
• Advanced Air Mobility (AAM)
• Other Aircraft Types
Power Outputs Covered:
• 0-100 kW
• 100 kW- 1MW
• 1 MW & Above
Technologies Covered:
• Proton Exchange Membrane Fuel Cells (PEMFC)
• Solid Oxide Fuel Cells (SOFC)
• Molten Carbonate Fuel Cells (MCFC)
• Other Technologies
Applications Covered:
• Auxiliary Power Units (APUs)
• Main Propulsion Systems
• Emergency Power Systems
• Other Applications
End Users Covered:
• Aviation
• Defense
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aircraft Fuel Cells Market, By Fuel Type
5.1 Introduction
5.2 Hydrogen
5.3 Methanol
5.4 Biofuels
5.5 Other Fuel Types
6 Global Aircraft Fuel Cells Market, By Aircraft Type
6.1 Introduction
6.2 Fixed Wing
6.3 Rotary Wing
6.4 Unmanned Aerial Vehicle (UAV)
6.5 Advanced Air Mobility (AAM)
6.6 Other Aircraft Types
7 Global Aircraft Fuel Cells Market, By Power Output
7.1 Introduction
7.2 0-100 kW
7.3 100 kW- 1MW
7.4 1 MW & Above
8 Global Aircraft Fuel Cells Market, By Technology
8.1 Introduction
8.2 Proton Exchange Membrane Fuel Cells (PEMFC)
8.3 Solid Oxide Fuel Cells (SOFC)
8.4 Molten Carbonate Fuel Cells (MCFC)
8.5 Other Technologies
9 Global Aircraft Fuel Cells Market, By Application
9.1 Introduction
9.2 Auxiliary Power Units (APUs)
9.3 Main Propulsion Systems
9.4 Emergency Power Systems
9.5 Other Applications
10 Global Aircraft Fuel Cells Market, By End User
10.1 Introduction
10.2 Aviation
10.3 Defense
10.4 Other End Users
11 Global Aircraft Fuel Cells Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 The Boeing Company
13.2 Australian Fuel Cells Pty Ltd.
13.3 Honeywell International Inc.
13.4 ElringKlinger AG
13.5 Advent Technologies
13.6 Safran
13.7 Plug Power, Inc.
13.8 Cummins Inc.
13.9 ZeroAvia Inc.
13.10 GenCell Ltd.
13.11 Serenergy A/S
13.12 Intelligent Energy Inc.
13.13 Airbus SE
13.14 Nuvera Fuel Cells, LLC
13.15 SFC Energy AG
List of Tables
1 Global Aircraft Fuel Cells Market Outlook, By Region (2022-2030) ($MN)
2 Global Aircraft Fuel Cells Market Outlook, By Fuel Type (2022-2030) ($MN)
3 Global Aircraft Fuel Cells Market Outlook, By Hydrogen (2022-2030) ($MN)
4 Global Aircraft Fuel Cells Market Outlook, By Methanol (2022-2030) ($MN)
5 Global Aircraft Fuel Cells Market Outlook, By Biofuels (2022-2030) ($MN)
6 Global Aircraft Fuel Cells Market Outlook, By Other Fuel Types (2022-2030) ($MN)
7 Global Aircraft Fuel Cells Market Outlook, By Aircraft Type (2022-2030) ($MN)
8 Global Aircraft Fuel Cells Market Outlook, By Fixed Wing (2022-2030) ($MN)
9 Global Aircraft Fuel Cells Market Outlook, By Rotary Wing (2022-2030) ($MN)
10 Global Aircraft Fuel Cells Market Outlook, By Unmanned Aerial Vehicle (UAV) (2022-2030) ($MN)
11 Global Aircraft Fuel Cells Market Outlook, By Advanced Air Mobility (AAM) (2022-2030) ($MN)
12 Global Aircraft Fuel Cells Market Outlook, By Other Aircraft Types (2022-2030) ($MN)
13 Global Aircraft Fuel Cells Market Outlook, By Power Output (2022-2030) ($MN)
14 Global Aircraft Fuel Cells Market Outlook, By 0-100 kW (2022-2030) ($MN)
15 Global Aircraft Fuel Cells Market Outlook, By 100 kW- 1MW (2022-2030) ($MN)
16 Global Aircraft Fuel Cells Market Outlook, By 1 MW & Above (2022-2030) ($MN)
17 Global Aircraft Fuel Cells Market Outlook, By Technology (2022-2030) ($MN)
18 Global Aircraft Fuel Cells Market Outlook, By Proton Exchange Membrane Fuel Cells (PEMFC) (2022-2030) ($MN)
19 Global Aircraft Fuel Cells Market Outlook, By Solid Oxide Fuel Cells (SOFC) (2022-2030) ($MN)
20 Global Aircraft Fuel Cells Market Outlook, By Molten Carbonate Fuel Cells (MCFC) (2022-2030) ($MN)
21 Global Aircraft Fuel Cells Market Outlook, By Other Technologies (2022-2030) ($MN)
22 Global Aircraft Fuel Cells Market Outlook, By Application (2022-2030) ($MN)
23 Global Aircraft Fuel Cells Market Outlook, By Auxiliary Power Units (APUs) (2022-2030) ($MN)
24 Global Aircraft Fuel Cells Market Outlook, By Main Propulsion Systems (2022-2030) ($MN)
25 Global Aircraft Fuel Cells Market Outlook, By Emergency Power Systems (2022-2030) ($MN)
26 Global Aircraft Fuel Cells Market Outlook, By Other Applications (2022-2030) ($MN)
27 Global Aircraft Fuel Cells Market Outlook, By End User (2022-2030) ($MN)
28 Global Aircraft Fuel Cells Market Outlook, By Aviation (2022-2030) ($MN)
29 Global Aircraft Fuel Cells Market Outlook, By Defense (2022-2030) ($MN)
30 Global Aircraft Fuel Cells Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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