0

Zero-Emission Aircraft Market Expected to Reach $191.97 Billion by 2040—Allied Market Research

 
2022
Zero-Emission Aircraft Market

Report Code : A11848

quote By source, the hydrogen segment is expected to dominate the global zero-emission aircraft market in 2030 in terms of revenue. By range, the medium-haul segment is anticipated to witness lucrative growth during the forecast period. By application, the passenger aircraft segment is expected to dominate the zero-emission aircraft market in 2030 in terms of revenue. By type, the turboprop rear bulkhead segment is anticipated to witness lucrative growth during the forecast period present. Europe is expected to be the highest revenue contributor, followed by North America quote

Himanshu Joshi
Lead Analyst, Aerospace and Defense at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Zero-emission Aircraft Market by Source, Range, Application, and Type: Global Opportunity Analysis and Industry Forecast, 2030–2040,” 

The global zero-emission aircraft market is expected to be valued at $29.24 billion in 2030, and reach $191.97 billion in 2040, registering a CAGR of 20.7%.

Europe is anticipated to dominate the market in 2030, in terms of revenue, followed by North America, Asia-Pacific, and LAMEA. UK is expected to dominate the global zero-emission aircraft market share in 2030, owing to increase in R&D activities, rise in incentives by government, and rapid development of zero-emission aircraft technologies in the country. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in investments to ensure minimal GHG emissions across various countries in the region.

If aviation wants to play a role in lowering greenhouse gas emissions, it must find ways to decarbonize air travel. Experts working on several projects across the world are striving to produce hybrid, electric, and hydrogen solar planes, which would reduce aviation's dependency on kerosene, the current fuel used by airlines. Attributed to numerous advantages promised by zero-emission aircraft technologies, several developments are being observed globally. EasyJet, Europe’s affordable airline, plans to operate battery-powered airplanes on some of its short-haul trips of 500 kms or less by 2030, in partnership with the Los Angeles-based start-up Wright Electric. Norway has pledged to fly all of its short-haul routes using electric planes by 2040. Norway's Transport Minister examined the ALPHA Electro, a 2-seat electric aircraft built by the Slovenian company Pipistrel, in 2018. Eviation Aircraft, an Israeli start-up, is also developing a battery-electric plane known as Alice that will make use of Siemens' high-power electric motors. It intends to serve the North America market, with journeys of up to 1,050 kms.  

UK government proposed a $392.7 million R&D fund for electric planes and technology in 2018. Furthermore, by 2050, the EU's Flight Path 2050 initiative targets a 75% reduction in carbon emissions per passenger km. Financial incentives are also being offered to airlines, with London Heathrow Airport offering free landing charges that worth around $1.19 million. Such developments are anticipated to boost the growth of the global zero-emission market during the forecast timeframe.

By source, the market is categorized into hydrogen, electric, and solar. The hydrogen segment is expected to account for the highest revenue in 2030, owing to high viability of hydrogen as aviation fuel. Hydrogen is a clean source of energy that is abundant in nature and doesn’t release any harmful effluents into the environment.

By application, the zero-emission aircraft market is bifurcated into passenger aircraft and cargo aircraft. The passenger aircraft segment is expected to account for the highest revenue in 2030, owing to higher demand for passenger aircraft than cargo aircraft.

Increased air passenger traffic across the globe and reduced GHG emissions are expected to drive the zero-emission aircraft market during the forecast period. However, technological challenges associated with solar, electric, and hydrogen-powered aircraft and high costs associated with the production and handling of hydrogen are anticipated to hamper the growth of the market. Moreover, proactive government initiatives toward the development of zero-emission aircraft and advancements in zero-emission aircraft technologies are expected to offer lucrative opportunities in future. 

Key Findings Of The Study

  •  By source, the solar segment is expected to register significant growth during the forecast period.
  •  By range, the medium-haul segment is anticipated to exhibit significant growth in future.
  •  By application, the cargo aircraft segment is projected to lead the global zero-emission aircraft market, owing to higher CAGR as compared to the passenger aircraft segment.
  •  By type, the turbofan system segment is projected to lead the global zero-emission aircraft market, owing to higher CAGR as compared to the passenger aircraft segment.
  •  By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global zero-emission aircraft market include AeroDelft, Airbus S.A.S., Bye Aerospace, Eviation Aircraft, HES Energy Systems, Joby Aviation, Lilium, Pipistrel d.o.o, Wright Electric, and ZeroAvia, Inc.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Zero-Emission Aircraft Market by Source (Hydrogen, Electric, and Solar), Range (Short-Haul, Medium-Haul, and Long-Haul), Application (Passenger Aircraft and Cargo Aircraft) and Type (Turboprop Rear Bulkhead, Turbofan System, and Blended Wing Body): Global Opportunity Analysis and Industry Forecast, 2030–2040 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Zero-Emission Aircraft Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers