PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1577127
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1577127
Hybrid Electric Aircraft Market Forecasts to 2030 - Global Analysis By Component, Platform, Engine Configuration and By Geography
According to Stratistics MRC, the Global Hybrid Electric Aircraft Market is accounted for $3.47 billion in 2024 and is expected to reach $12.55 billion by 2030 growing at a CAGR of 23.9% during the forecast period. Hybrid electric aircraft are advanced aviation vehicles that utilize a combination of conventional propulsion systems and electric power sources. These aircraft integrate traditional jet engines or turboprops with electric motors, drawing energy from batteries or fuel cells. This dual approach aims to enhance fuel efficiency, reduce greenhouse gas emissions, and lower noise levels, addressing the growing environmental concerns associated with air travel. Hybrid electric systems allow for more flexible flight operations, including potential for short-range electric-only flights and longer journeys powered by a combination of electric and conventional engines.
According to the European Institute of Innovation and Technology, these consequences cause Europe's economic loss of 130 billion per year.
Market Dynamics:
Driver:
Increased demand for greener technologies
The growing demand for greener technologies is significantly boosting the development of Hybrid Electric Aircraft (HEA). As the aviation industry seeks to reduce its carbon footprint and mitigate climate change, HEAs emerge as a promising solution, combining traditional jet engines with electric propulsion systems. This hybrid approach allows for increased fuel efficiency, lower emissions, and reduced noise levels, aligning with global sustainability goals. Furthermore, advances in battery technology and electric motors are making it feasible to design aircraft that can operate on shorter routes with minimal environmental impact.
Restraint:
Lack of infrastructure support
The development of hybrid electric aircraft is significantly hindered by insufficient infrastructure support. Currently, the aviation ecosystem primarily caters to conventional fuel-powered planes, leaving a gap in the necessary facilities for hybrid technologies. Key areas such as charging stations, maintenance facilities, and supply chains for sustainable aviation fuels are underdeveloped, making it challenging to implement and operate hybrid aircraft effectively. However, regulatory frameworks are not yet fully adapted to accommodate the unique requirements of hybrid systems, adding another layer of complexity.
Opportunity:
Infrastructure development
Infrastructure development plays a crucial role in advancing Hybrid Electric Aircraft (HEA) technology, facilitating their integration into the aviation ecosystem. Enhanced charging stations, designed specifically for the unique requirements of HEAs, enable efficient battery management and energy refueling, ensuring minimal downtime between flights. Airports are investing in sustainable energy sources, such as solar and wind power, to supply clean energy for these aircraft, further reducing carbon footprints.
Threat:
Regulatory hurdles
Regulatory hurdles pose significant challenges to the development and deployment of hybrid electric aircraft, impeding progress in this innovative sector. Aviation regulations, which are traditionally designed for conventional aircraft, often do not accommodate the unique technologies and operational paradigms of hybrid electric systems. Issues such as certification processes, safety standards, and airworthiness requirements can be complex and time-consuming. For instance, regulators may lack the necessary frameworks to evaluate the performance of new electric propulsion technologies or to assess the implications of reduced noise and emissions on air traffic management.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the development and adoption of hybrid electric aircraft, reshaping the aviation landscape. Initially, the crisis caused major disruptions in the aerospace industry, leading to project delays and reduced funding as airlines and manufacturers faced financial strain. The pandemic highlighted the urgent need for sustainable aviation solutions, prompting renewed interest in hybrid electric technologies as a means to lower emissions and operational costs. Overall, while COVID-19 presented immediate challenges, it also served as a catalyst for change, positioning hybrid electric aircraft as a key player in the industry's long-term recovery and transformation toward a more sustainable future.
The Electric Motor segment is expected to be the largest during the forecast period
Electric Motor segment is expected to be the largest during the forecast period, which aim to revolutionize aviation by combining traditional fuel-based systems with electric propulsion. By integrating high-efficiency electric motors, HEAs can achieve reduced emissions and lower fuel consumption, contributing to a more sustainable aviation industry. These electric motors facilitate improved energy management, allowing for optimized performance during various flight phases, such as takeoff, cruising and landing. The hybrid architecture enables aircraft to leverage electric power for short-range flights or taxiing, while relying on conventional engines for longer distances.
The Commercial Aircraft segment is expected to have the highest CAGR during the forecast period
Commercial Aircraft segment is expected to have the highest CAGR during the forecast period due to a promising solution aimed at reducing aviation's environmental impact. By combining traditional jet engines with electric propulsion systems, HEAs aim to improve fuel efficiency, lower emissions, and reduce noise pollution during takeoff and landing. The integration of hybrid systems not only allows for reduced operational costs but also aligns with global initiatives to meet stricter environmental regulations. Leading manufacturers are collaborating with research institutions and governments to accelerate the development and certification of HEA prototypes.
Region with largest share:
North America region is anticipated to command the largest share of the market over the extrapolated period fostering innovation and accelerating the transition to sustainable aviation. Major aerospace companies, research institutions, and startups are joining forces to leverage their unique expertise, share resources, and mitigate risks associated with developing new technologies. Collaborative efforts focus on integrating advanced propulsion systems, energy-efficient designs, and sustainable materials, which are essential for enhancing aircraft performance and reducing environmental impact. Initiatives like public-private partnerships and government-funded research projects are also pivotal, providing necessary funding and regulatory support.
Region with highest CAGR:
Europe region is estimated to witness profitable growth during the extrapolated period. By establishing stringent emissions targets and sustainability goals, European authorities are incentivizing the aviation industry to innovate and adopt cleaner technologies. Initiatives such as the European Union's Green Deal and funding programs for research and development promote investment in hybrid electric systems, which promise to reduce fuel consumption and lower carbon footprints.
Key players in the market
Some of the key players in Hybrid Electric Aircraft market include Honeywell International Inc, Airbus SE, Ampaire Inc, Archer Aviation Inc, Electric Aircraft Corporation, General Electric (GE) Aviation, Lockheed Martin Corporation, Mitsubishi Aircraft Corporation, Northrop Grumman Corporation and The Boeing Company.
Key Developments:
In January 2024, VoltAero, a France-based aerospace company, partnered with Safran Electrical & Power to supply the electrical wiring on VoltAero's Cassio 330 electric-hybrid certification aircraft, confirming Safran's role as a leading partner in VoltAero's clean-sheet e-airplane.
In December 2023, Electra, Aura Aero and Heart Aerospace manufactured aircraft with a 30-passenger carrying capacity based on gas-electric hybrid aircraft. A company based in Dallas has initiated a contract to order 300 hybrid electric aircraft.
In December 2023, Airbus SE unveiled a new hybrid electric aircraft and completed their first flight for 100 minutes above the sky in France. The aircraft was first launched at the Paris Air Show in 2019. Airbus, Safran, and Daher developed the EcoPulse to reduce carbon emissions and lower noise levels.
In November 2023, Wright Electric collaborated with Axter Aerospace to unveil the maiden flight of an 800kW hybrid-electric crop duster aircraft. The aircraft featured 800 kW of combined shaft horsepower.
In June 2023, Safran Helicopter Engines signed a memorandum of understanding with Aura Aero to motorize the project of the electric regional aircraft. The partners are expected to cooperate to evaluate turbo-generators developed by Safran.
Components Covered:
- Batteries & Fuel Cells
- Electric Motor
- Generator
- Aerostructures
- Other Components
Platforms Covered:
- Unmanned Aerial Vehicle
- Commercial Aircraft
- Business Jets
Engine Configurations Covered:
- Piston Engine with Electric Motor
- Turbine Engine with Electric Motor
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- 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 Emerging Markets
- 3.7 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 Electric Aircraft Market, By Component
- 5.1 Introduction
- 5.2 Batteries & Fuel Cells
- 5.3 Electric Motor
- 5.4 Generator
- 5.5 Aerostructures
- 5.6 Other Components
6 Global Hybrid Electric Aircraft Market, By Platform
- 6.1 Introduction
- 6.2 Unmanned Aerial Vehicle
- 6.3 Commercial Aircraft
- 6.4 Business Jets
7 Global Hybrid Electric Aircraft Market, By Engine Configuration
- 7.1 Introduction
- 7.2 Piston Engine with Electric Motor
- 7.3 Turbine Engine with Electric Motor
8 Global Hybrid Electric Aircraft Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Honeywell International Inc
- 10.2 Airbus SE
- 10.3 Ampaire Inc
- 10.4 Archer Aviation Inc
- 10.5 Electric Aircraft Corporation
- 10.6 General Electric (GE) Aviation
- 10.7 Lockheed Martin Corporation
- 10.8 Mitsubishi Aircraft Corporation
- 10.9 Northrop Grumman Corporation
- 10.10 The Boeing Company
List of Tables
- Table 1 Global Hybrid Electric Aircraft Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Hybrid Electric Aircraft Market Outlook, By Component (2022-2030) ($MN)
- Table 3 Global Hybrid Electric Aircraft Market Outlook, By Batteries & Fuel Cells (2022-2030) ($MN)
- Table 4 Global Hybrid Electric Aircraft Market Outlook, By Electric Motor (2022-2030) ($MN)
- Table 5 Global Hybrid Electric Aircraft Market Outlook, By Generator (2022-2030) ($MN)
- Table 6 Global Hybrid Electric Aircraft Market Outlook, By Aerostructures (2022-2030) ($MN)
- Table 7 Global Hybrid Electric Aircraft Market Outlook, By Other Components (2022-2030) ($MN)
- Table 8 Global Hybrid Electric Aircraft Market Outlook, By Platform (2022-2030) ($MN)
- Table 9 Global Hybrid Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (2022-2030) ($MN)
- Table 10 Global Hybrid Electric Aircraft Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
- Table 11 Global Hybrid Electric Aircraft Market Outlook, By Business Jets (2022-2030) ($MN)
- Table 12 Global Hybrid Electric Aircraft Market Outlook, By Engine Configuration (2022-2030) ($MN)
- Table 13 Global Hybrid Electric Aircraft Market Outlook, By Piston Engine with Electric Motor (2022-2030) ($MN)
- Table 14 Global Hybrid Electric Aircraft Market Outlook, By Turbine Engine with Electric Motor (2022-2030) ($MN)
- Table 15 North America Hybrid Electric Aircraft Market Outlook, By Country (2022-2030) ($MN)
- Table 16 North America Hybrid Electric Aircraft Market Outlook, By Component (2022-2030) ($MN)
- Table 17 North America Hybrid Electric Aircraft Market Outlook, By Batteries & Fuel Cells (2022-2030) ($MN)
- Table 18 North America Hybrid Electric Aircraft Market Outlook, By Electric Motor (2022-2030) ($MN)
- Table 19 North America Hybrid Electric Aircraft Market Outlook, By Generator (2022-2030) ($MN)
- Table 20 North America Hybrid Electric Aircraft Market Outlook, By Aerostructures (2022-2030) ($MN)
- Table 21 North America Hybrid Electric Aircraft Market Outlook, By Other Components (2022-2030) ($MN)
- Table 22 North America Hybrid Electric Aircraft Market Outlook, By Platform (2022-2030) ($MN)
- Table 23 North America Hybrid Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (2022-2030) ($MN)
- Table 24 North America Hybrid Electric Aircraft Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
- Table 25 North America Hybrid Electric Aircraft Market Outlook, By Business Jets (2022-2030) ($MN)
- Table 26 North America Hybrid Electric Aircraft Market Outlook, By Engine Configuration (2022-2030) ($MN)
- Table 27 North America Hybrid Electric Aircraft Market Outlook, By Piston Engine with Electric Motor (2022-2030) ($MN)
- Table 28 North America Hybrid Electric Aircraft Market Outlook, By Turbine Engine with Electric Motor (2022-2030) ($MN)
- Table 29 Europe Hybrid Electric Aircraft Market Outlook, By Country (2022-2030) ($MN)
- Table 30 Europe Hybrid Electric Aircraft Market Outlook, By Component (2022-2030) ($MN)
- Table 31 Europe Hybrid Electric Aircraft Market Outlook, By Batteries & Fuel Cells (2022-2030) ($MN)
- Table 32 Europe Hybrid Electric Aircraft Market Outlook, By Electric Motor (2022-2030) ($MN)
- Table 33 Europe Hybrid Electric Aircraft Market Outlook, By Generator (2022-2030) ($MN)
- Table 34 Europe Hybrid Electric Aircraft Market Outlook, By Aerostructures (2022-2030) ($MN)
- Table 35 Europe Hybrid Electric Aircraft Market Outlook, By Other Components (2022-2030) ($MN)
- Table 36 Europe Hybrid Electric Aircraft Market Outlook, By Platform (2022-2030) ($MN)
- Table 37 Europe Hybrid Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (2022-2030) ($MN)
- Table 38 Europe Hybrid Electric Aircraft Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
- Table 39 Europe Hybrid Electric Aircraft Market Outlook, By Business Jets (2022-2030) ($MN)
- Table 40 Europe Hybrid Electric Aircraft Market Outlook, By Engine Configuration (2022-2030) ($MN)
- Table 41 Europe Hybrid Electric Aircraft Market Outlook, By Piston Engine with Electric Motor (2022-2030) ($MN)
- Table 42 Europe Hybrid Electric Aircraft Market Outlook, By Turbine Engine with Electric Motor (2022-2030) ($MN)
- Table 43 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Country (2022-2030) ($MN)
- Table 44 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Component (2022-2030) ($MN)
- Table 45 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Batteries & Fuel Cells (2022-2030) ($MN)
- Table 46 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Electric Motor (2022-2030) ($MN)
- Table 47 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Generator (2022-2030) ($MN)
- Table 48 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Aerostructures (2022-2030) ($MN)
- Table 49 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Other Components (2022-2030) ($MN)
- Table 50 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Platform (2022-2030) ($MN)
- Table 51 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (2022-2030) ($MN)
- Table 52 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
- Table 53 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Business Jets (2022-2030) ($MN)
- Table 54 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Engine Configuration (2022-2030) ($MN)
- Table 55 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Piston Engine with Electric Motor (2022-2030) ($MN)
- Table 56 Asia Pacific Hybrid Electric Aircraft Market Outlook, By Turbine Engine with Electric Motor (2022-2030) ($MN)
- Table 57 South America Hybrid Electric Aircraft Market Outlook, By Country (2022-2030) ($MN)
- Table 58 South America Hybrid Electric Aircraft Market Outlook, By Component (2022-2030) ($MN)
- Table 59 South America Hybrid Electric Aircraft Market Outlook, By Batteries & Fuel Cells (2022-2030) ($MN)
- Table 60 South America Hybrid Electric Aircraft Market Outlook, By Electric Motor (2022-2030) ($MN)
- Table 61 South America Hybrid Electric Aircraft Market Outlook, By Generator (2022-2030) ($MN)
- Table 62 South America Hybrid Electric Aircraft Market Outlook, By Aerostructures (2022-2030) ($MN)
- Table 63 South America Hybrid Electric Aircraft Market Outlook, By Other Components (2022-2030) ($MN)
- Table 64 South America Hybrid Electric Aircraft Market Outlook, By Platform (2022-2030) ($MN)
- Table 65 South America Hybrid Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (2022-2030) ($MN)
- Table 66 South America Hybrid Electric Aircraft Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
- Table 67 South America Hybrid Electric Aircraft Market Outlook, By Business Jets (2022-2030) ($MN)
- Table 68 South America Hybrid Electric Aircraft Market Outlook, By Engine Configuration (2022-2030) ($MN)
- Table 69 South America Hybrid Electric Aircraft Market Outlook, By Piston Engine with Electric Motor (2022-2030) ($MN)
- Table 70 South America Hybrid Electric Aircraft Market Outlook, By Turbine Engine with Electric Motor (2022-2030) ($MN)
- Table 71 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Country (2022-2030) ($MN)
- Table 72 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Component (2022-2030) ($MN)
- Table 73 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Batteries & Fuel Cells (2022-2030) ($MN)
- Table 74 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Electric Motor (2022-2030) ($MN)
- Table 75 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Generator (2022-2030) ($MN)
- Table 76 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Aerostructures (2022-2030) ($MN)
- Table 77 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Other Components (2022-2030) ($MN)
- Table 78 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Platform (2022-2030) ($MN)
- Table 79 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Unmanned Aerial Vehicle (2022-2030) ($MN)
- Table 80 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
- Table 81 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Business Jets (2022-2030) ($MN)
- Table 82 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Engine Configuration (2022-2030) ($MN)
- Table 83 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Piston Engine with Electric Motor (2022-2030) ($MN)
- Table 84 Middle East & Africa Hybrid Electric Aircraft Market Outlook, By Turbine Engine with Electric Motor (2022-2030) ($MN)
