Fuel Cells in Aerospace and Defense Market: Current Analysis and Forecast (2022-2030)

A fuel cell is a very effective power source. It is commonly defined as an electrochemical device that converts the supplied fuel to electric energy and heat continuously if reactants are supplied to its electrodes. Fuel cells are one of the fastest growing alternative energy resources due to their ability to convert electricity through a variety of fuels. Additionally, fuel cells are conventional resources which are eco-friendly, as their by-products do not harm nature. Due to such factors, they are highly used in the market of aerospace and defence across the globe. For instance, in Mar 2021, Fuel Cell Technology for Larger Aircraft Could Lower Emissions. The aerospace industry has proven it can utilize fuel cells for small aircraft.

The Fuel Cells in Aerospace and Defense Market is expected to grow at a skyrocket rate of around 31% owing to the rising demand from non-conventional energy sources coupled with the growing adoption of fuel cells in military & defense sectors. Major companies in the market offer fuel cells for military and defense applications with technologically advanced features to prepare more advance engines. For instance, in Nov 2022, Airbus prepared for its first megawatt-class hydrogen fuel-cell engine flight-test demonstrator.

Based on product, the market is bifurcated into Solid-Oxide Fuel Cell (SOFC) and Proton Exchange Membrane Fuel Cells (PEMFC). Proton Exchange Membrane Fuel Cells (PEMFC) category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to better thermal management, the lighter balance of plant, shorter stack service life, and limited integration flexibility of PMEFC over SOFC. In addition, PEMFC is widely used for transportation applications due to its efficiency, compactness, temperature range, and lifetime.

Based on application, the fuel cells in aerospace and defense market have been bifurcated into civil aviation and rotorcraft. The rotorcraft category is expected to grow with a significant CAGR during the forecast period. Rotorcraft such as helicopters, and vertical takeoff and landing aircrafts are highly preferred in the aerospace and defense industry. Additionally, fuel cells provide a quiet and efficient power source and that is major for rotorcraft. Since they require high power output and reduce noise emissions. Also, fuel cells provide longer endurance, reduced logistical support, and lower operating costs compared to other power sources.

For a better understanding of the market adoption of the fuel cells in aerospace and defense industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation in the region is driving the growth of the market. Moreover, North America has one of the world's largest aerospace and defense companies, including Boeing, Lockheed Martin, and Northrop Grumman, all of which have invested heavily in fuel cell technology in recent years. Since, these companies have been at the forefront of developing and testing fuel cell systems for aircraft and other applications, and their continued investment in this technology is driving market growth. For instance, in Aug 2021, New Honeywell Technology for Light Drones Increased Range Threefold with Cleaner, Quieter Hydrogen Fuel Cells. Additionally, North America has US military that are actively developing and deploying fuel cell-powered UAVs and other unmanned systems, which has helped to drive market growth in this region.

Some of the major players operating in the market include: Advent Technologies; ElringKlinger AG; Australian Fuel Cells Pty Ltd; Honeywell International Inc.; Infinity Fuel Cell and Hydrogen, Inc.; Loop Energy Inc.; Intelligent Energy Limited; Plug Power Inc.; Cummins Inc; GenCell Ltd.