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.
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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.
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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 Astronics Corporation (U.S.)
Heads Up Technologies (U.S.)
Honeywell International (U.S.)
Cobham Limited (UK)
Diehl Stiftung & Co KG (Germany)
Luminator Technology (U.S.)
United Technologies (U.S.)
Precise Flight (U.S.)
Rockwell Collins (U.S.)
Soderberg Manufacturing (U.S.)
STG Aerospace (UK)
Zodiac Aerospace (France)
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