Hybrid Propulsion Aircraft Engines Market
Hybrid Propulsion Aircraft Engines Market Forecasts to 2030 - Global Analysis By Aircraft Type (General Aircraft, Commercial Aircraft, Military Aircraft and Other Aircraft Types), Component (Electric Motor, Power Generation System, Fuel-based Engines and Other Components), Power Range, Propulsion Type, End User and by Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $29.03 BN |
|
Projected Year Value (2030) |
US $49.50 BN |
|
CAGR (2024 - 2030) |
9.3% |
|
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 |
Asia Pacific |
According to Stratistics MRC, the Global Hybrid Propulsion Aircraft Engines Market is accounted for $29.03 billion in 2024 and is expected to reach $49.50 billion by 2030 growing at a CAGR of 9.3% during the forecast period. A revolutionary development in aviation technology, hybrid propulsion aircraft engines combine conventional fuel-based power with electric propulsion systems. These engines combine the advantages of electric and combustion power sources in an effort to maximize efficiency while lowering emissions and fuel consumption. Hybrid propulsion systems optimize performance during takeoff, cruise, and landing by combining electric motors, batteries, and conventional engines.
According to the International Air Transport Association (IATA), hybrid propulsion aircraft engines are pivotal in achieving the aviation industry's goal of reducing carbon emissions by 50% by 2050, emphasizing the importance of sustainable innovations in reaching environmental targets.
Market Dynamics:
Driver:
Strong operational advantages
The operating benefits of hybrid propulsion systems include improved performance, lower maintenance costs, and increased reliability. By incorporating redundancy and fail-safe mechanisms, these systems enhance overall safety and reliability while conducting flight operations. Additionally, electric propulsion components require less maintenance, which lowers operating costs and downtime and helps airlines maintain dependable fleet operations while improving passenger satisfaction through better flight performance.
Restraint:
Regulatory and certification difficulties
International airworthiness standards provide a strict regulatory framework that the aviation industry must operate within. It takes extensive testing, validation, and performance and safety criteria demonstration for new hybrid propulsion technologies to achieve regulatory compliance and certification. Furthermore, the market entry and commercialization of hybrid aircraft solutions can be hindered by delays or uncertainties in obtaining regulatory approval, which can also raise development costs for manufacturers.
Opportunity:
Operating savings and increasing fuel costs
Airlines have the opportunity to implement hybrid propulsion systems as a way to save money over the long run due to fluctuating fuel prices and increasing operating costs. Throughout the course of an aircraft's lifecycle, hybrid engines have the potential to save costs and optimize energy use by consuming less fuel while in flight. Moreover, fleets of hybrid aircraft may become more common as airlines look to strategically invest in order to reduce the impact of fluctuating fuel prices and improve cost predictability.
Threat:
Competitive pressure from conventional technologies
Hybrid propulsion systems face competition from established gas turbine engines, which are the industry standard in the aviation sector. The perceived performance, dependability, and operational familiarity of traditional engines may make airlines and operators hesitant to embrace hybrid technology. Additionally, market acceptance and adoption hinge on overcoming ingrained consumer preferences and proving the hybrid propulsion systems' superior economic and environmental benefits.
Covid-19 Impact:
The market for hybrid propulsion aircraft engines has been significantly impacted by the COVID-19 pandemic, which has also slowed demand for new aircraft technologies and disrupted international aviation operations. Plans for fleet expansion, including investments in new technologies like hybrid propulsion systems, have been delayed or canceled by airlines due to travel restrictions, decreased passenger traffic, and financial difficulties. However, as the industry works to recover and adjust to new market dynamics after the pandemic, the pandemic has also increased industry focus on environmental sustainability and operational efficiency, which may spark long-term interest in greener aviation solutions like hybrid propulsion.
The Commercial Aircraft segment is expected to be the largest during the forecast period
The market for hybrid propulsion aircraft engines is dominated by the commercial aircraft segment. To cut expenses and meet strict emissions regulations, commercial airlines are placing a greater emphasis on efficiency and sustainability. By combining conventional fuel engines with electric propulsion, hybrid propulsion systems offer a great deal of potential to accomplish these goals while lowering emissions and fuel consumption during flight. Moreover, the commercial aircraft industry is a major force behind the adoption of hybrid propulsion technologies due to its size, reach throughout the world, and regulatory pressures.
The Medium Range segment is expected to have the highest CAGR during the forecast period
The highest CAGR is expected to be in the medium-range segment. The aircraft in this segment are intended for medium- and regional-haul flights, which usually cover 1,500–3,500 nautical miles. A number of factors, including long-term cost savings from operations, regulatory pressure for lower emissions, and advancements in hybrid engine technology that make them suitable for these flight ranges, are driving the demand for hybrid propulsion systems in this market. Furthermore, enhancing the growth prospects of this segment in the market for hybrid propulsion aircraft engines is the increased focus of manufacturers on creating effective hybrid solutions that are customized to meet the unique operational and financial needs of medium-range aircraft operators.
Region with largest share:
North America has the largest regional share of the market for hybrid propulsion aircraft engines. Numerous factors contribute to this dominance, such as the existence of significant aerospace manufacturers and technological innovators in the US and Canada, significant funding for R&D projects, and strict environmental regulations encouraging the use of electric and hybrid propulsion systems. Moreover, the area also benefits from a sizable fleet of commercial and business aircraft, many of which are being built with hybrid propulsion technologies to cut carbon emissions and improve fuel efficiency, as well as a robust infrastructure that fosters aerospace innovation.
Region with highest CAGR:
The market for hybrid propulsion aircraft engines is expected to grow at the highest CAGR in the Asia-Pacific region. Increased air traveller volume, a growing need for fuel-efficient aircraft solutions, and national programs supporting environmentally friendly aviation practices in nations like China, India, Japan, and South Korea are the main drivers of this growth. Furthermore, the region's middle class is growing and its economy is growing quickly, which is creating a demand for air travel and encouraging investments in hybrid propulsion systems to meet environmental regulations and reduce operating costs.
Key players in the market
Some of the key players in Hybrid Propulsion Aircraft Engines market include Safran S.A, Ampaire Inc., GKN Aerospace Services Limited, Cranfield Aerospace Solutions, Airbus, Rolls-Royce Holdings plc, Lockheed Martin Corporation, Siemens AG, Honeywell Aerospace, General Electric (GE) Aviation, Alakai Technologies, United Technologies Corporation (UTC), Boeing and Raytheon Technologies Corporation.
Key Developments:
In March 2024, Ampaire Inc., a global leader in hybrid electric aircraft systems, today announced the acquisition of Magpie Aviation Inc., a developer of innovative electric aviation technologies. With this transaction, Ampaire continues its flight path toward profitable growth as it builds its strategic portfolio of technology and customer contracts.
In February 2024, Safran Helicopter Engines has signed a support-by-the-hour contract renewal with ADAC Heliservice for the engines powering ADAC Luftrettung and ANWB Medical Air Assistance H145 helicopter fleets. This SBH® contract covers in-service support and MRO (maintenance, repair and overhaul) for around 50 Arriel 2E engines.
In October 2023, GKN Aerospace in Malaysia has signed an agreement with DHL Express to enable the use of sustainable aviation fuel (SAF) through DHL's GoGreen Plus service. The partnership is set to cut the carbon emissions of international shipments by 30% for GKN Aerospace's engine repair facility in Johor.
Aircraft Types Covered:
• General Aircraft
• Commercial Aircraft
• Military Aircraft
• Other Aircraft Types
Components Covered:
• Electric Motor
• Power Generation System
• Fuel-based Engines
• Other Components
Power Ranges Covered:
• Short Range
• Medium Range
• Long Range
• Extended Range
Propulsion Types Covered:
• Parallel Hybrid
• Series Hybrid
• Turbo Generator Hybrid
• Other Propulsion Types
End Users Covered:
• Commercial Airlines
• Government Agencies
• Military and Defense
• Aircraft Manufacturers
• Unmanned Aerial Vehicles (UAVs)
• 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 End User Analysis
3.7 Emerging Markets
3.8 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 Hybrid Propulsion Aircraft Engines Market, By Aircraft Type
5.1 Introduction
5.2 General Aircraft
5.3 Commercial Aircraft
5.4 Military Aircraft
5.5 Other Aircraft Types
6 Global Hybrid Propulsion Aircraft Engines Market, By Component
6.1 Introduction
6.2 Electric Motor
6.3 Power Generation System
6.4 Fuel-based Engines
6.5 Other Components
7 Global Hybrid Propulsion Aircraft Engines Market, By Power Range
7.1 Introduction
7.2 Short Range
7.3 Medium Range
7.4 Long Range
7.5 Extended Range
8 Global Hybrid Propulsion Aircraft Engines Market, By Propulsion Type
8.1 Introduction
8.2 Parallel Hybrid
8.3 Series Hybrid
8.4 Turbo Generator Hybrid
8.5 Other Propulsion Types
9 Global Hybrid Propulsion Aircraft Engines Market, By End User
9.1 Introduction
9.2 Commercial Airlines
9.3 Government Agencies
9.4 Military and Defense
9.5 Aircraft Manufacturers
9.6 Unmanned Aerial Vehicles (UAVs)
9.7 Other End Users
10 Global Hybrid Propulsion Aircraft Engines Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Safran S.A
12.2 Ampaire Inc.
12.3 GKN Aerospace Services Limited
12.4 Cranfield Aerospace Solutions
12.5 Airbus
12.6 Rolls-Royce Holdings plc
12.7 Lockheed Martin Corporation
12.8 Siemens AG
12.9 Honeywell Aerospace
12.10 General Electric (GE) Aviation
12.11 Alakai Technologies
12.12 United Technologies Corporation (UTC)
12.13 Boeing
12.14 Raytheon Technologies Corporation
List of Tables
1 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Region (2022-2030) ($MN)
2 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Aircraft Type (2022-2030) ($MN)
3 Global Hybrid Propulsion Aircraft Engines Market Outlook, By General Aircraft (2022-2030) ($MN)
4 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
5 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Military Aircraft (2022-2030) ($MN)
6 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Other Aircraft Types (2022-2030) ($MN)
7 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Component (2022-2030) ($MN)
8 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Electric Motor (2022-2030) ($MN)
9 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Power Generation System (2022-2030) ($MN)
10 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Fuel-based Engines (2022-2030) ($MN)
11 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Other Components (2022-2030) ($MN)
12 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Power Range (2022-2030) ($MN)
13 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Short Range (2022-2030) ($MN)
14 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Medium Range (2022-2030) ($MN)
15 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Long Range (2022-2030) ($MN)
16 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Extended Range (2022-2030) ($MN)
17 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Propulsion Type (2022-2030) ($MN)
18 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Parallel Hybrid (2022-2030) ($MN)
19 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Series Hybrid (2022-2030) ($MN)
20 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Turbo Generator Hybrid (2022-2030) ($MN)
21 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Other Propulsion Types (2022-2030) ($MN)
22 Global Hybrid Propulsion Aircraft Engines Market Outlook, By End User (2022-2030) ($MN)
23 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Commercial Airlines (2022-2030) ($MN)
24 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Government Agencies (2022-2030) ($MN)
25 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Military and Defense (2022-2030) ($MN)
26 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Aircraft Manufacturers (2022-2030) ($MN)
27 Global Hybrid Propulsion Aircraft Engines Market Outlook, By Unmanned Aerial Vehicles (UAVs) (2022-2030) ($MN)
28 Global Hybrid Propulsion Aircraft Engines 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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