PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1340764
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1340764
Hybrid Aircraft Market by Aircraft Type (Regional Transport Aircraft, Business Jets, Light Aircraft, UAVs, AAM), Power Source (Fuel Hybrid, Hydrogen Hybrid), Lift Technology, Mode of Operation, Range, System and Region - Global Forecast to 2030
The hybrid aircraft market is projected to grow from USD 1.2 Billion in 2023 to USD 13.2 Billion by 2030, at a CAGR of 41.6% from 2023 to 2030. Various factors, such as the growing technological advancements in hybrid propulsion and need for sustainable development to drive the hybrid aircraft market. However, limited in weight and payload and regulatory approval obstacles involving hybrid aircraft are limiting the overall growth of the market.
"Fuel Hybrid: The largest share in power source segment in the hybrid aircraft market in 2023."
The fuel hybrid segment is projected to have the largest share in 2023. Fuel hybrid propulsion systems combine electric power and an internal combustion engine or a turbine. This configuration balances between electric efficiency and extended range capabilities. Batteries provide energy for propulsion during one or more phases of the flight. Fuel Hybrid propulsion systems with an electric motor and internal combustion engine help save fuel and reduce take-off noise and emission levels. Thus, the increasing use of fuel hybrid aircraft is driving the hybrid-electric aircraft market.
"Autonomous hybrid aircraft: The largest share in mode of operation segment in the hybrid aircraft market in 2023."
The autonomous hybrid aircraft from the mode of operation segment is projected to have the largest share in 2023. In the autonomous segment, hybrid aircraft such as eVTOLs, UAVs operate without direct human intervention, relying on advanced sensors, artificial intelligence, and sophisticated flight control systems to navigate and make decisions. Autonomous aircraft offer several notable advantages such as the potential to revolutionize the transportation industry by enabling on-demand and efficient aerial mobility without the need for human pilots. Autonomous systems growth is expected to leverage advanced algorithms to optimize flight paths, minimize congestion, and enhance safety through real-time situational awareness.
"VTOL: The second largest share in lift technology segment in the hybrid aircraft market in 2023."
The VTOL segment is projected to have the second-largest share in 2023. VTOL Hybrid aircraft in hybrid-electric aircraft market has experienced remarkable growth. Urban congestion and the need for faster, more flexible transportation solutions have driven investment and research into VTOL technology, making it a promising avenue for the future of aviation and mobility. Few examples of VTOL aircraft are helicopters, multirotor aircraft, and tiltrotor/tilt-wing aircraft. The growth of this segment is due to ongoing efforts to enhance efficiency, reduce emissions, and promote sustainability in urban air transportation.
"The Asia-Pacific region is estimated to have the second largest share in the hybrid aircraft market in 2023."
Asia-Pacific is estimated to account for the second-largest share in hybrid-electric aircraft market in 2023. The Asia-pacific region for this study comprises China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The hybrid aircraft market in Asia Pacific has experienced a remarkable surge in recent years. The growth of the region is due to actively embracing developments in hybrid aircraft and hybrid UAM which is expected to revolutionize transportation within urban areas. Countries like Japan and the China are investing in the development of dedicated infrastructure and hybrid aircraft.
The break-up of the profiles of primary participants in the hybrid-electric aircraft market is as follows:
- By Company Type: Tier 1 - 55%; Tier 2 - 25%; and Tier 3 - 20%
- By Designation: C-Level Executives - 50%; Directors - 25%; and Others - 25%
- By Region: North America - 32%, Europe - 32%, Asia Pacific - 16%, Latin America -10% Rest of the World - 10%.
Major Players in the hybrid-electric aircraft market are Textron Inc. (US), VoltAero (France), Electric Aviation Group (US), Ascendance Flight Technologies (France), XTI Aircraft (US) and Embraer (Brazil)among others.
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TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED
- FIGURE 1 HYBRID AIRCRAFT MARKET SEGMENTATION
- 1.3.2 REGIONS COVERED
- 1.3.3 YEARS CONSIDERED
- 1.4 INCLUSIONS AND EXCLUSIONS
- TABLE 1 INCLUSIONS AND EXCLUSIONS
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
6 INDUSTRY TRENDS
7 HYBRID AIRCRAFT MARKET, BY AIRCRAFT TYPE
8 HYBRID AIRCRAFT MARKET, BY POWER SOURCE
9 HYBRID AIRCRAFT MARKET, BY MODE OF OPERATION
10 HYBRID AIRCRAFT MARKET, BY LIFT TECHNOLOGY
11 HYBRID AIRCRAFT MARKET, BY RANGE
12 HYBRID AIRCRAFT MARKET, BY SYSTEM
13 HYBRID AIRCRAFT MARKET, BY REGION
14 COMPETITIVE LANDSCAPE
15 COMPANY PROFILES
16 APPENDIX
