Zero-Emission Aircraft Market (By Source: Hydrogen, Electric, Solar; By Range: Short-Haul, Medium-Haul, Long-Haul; By Application: Passenger Aircraft, Cargo Aircraft; By Type: Turboprop Rear Bulkhead, Turbofan System, Blended Wing Body) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global zero-emission aircraft market size was exhibited at USD 20.78 billion in 2022 and is projected to hit around USD 88.49 billion by 2032, growing at a CAGR of 15.59% during the forecast period 2023 to 2032.

Key Pointers:

• By type, turbofan system segment is expected to hit remarkable growth between 2023 to 2032.
• By range type, the short haul segment has had largest market share in 2022.
• Europe region had highest share 47.2% in 2022.
• Asia-Pacific region will grow at a highest CAGR from 2023 to 2032.

Zero-Emission Aircraft Market Report Scope

Being a significant contributor to releasing CO2 from burning large quantity of jet fuel, traditional aircraft also influences the concentration of other gases and pollutants present in the atmosphere. The release of such harmful pollutants results in a long-term rise in ozone levels, emissions of sulfur aerosols, and water contrails. The emission of such pollutants significantly contributes to global warming. These factors call for immediate action on the part of aircraft industry leaders (Airbus, Boeing, and others) to opt for cleaner fuels (hydrogen or battery packs); the governments in formulating regulations regarding the checking of the emissions caused by today’s aircraft; and policies that create a conducive environment for the advent of carbon-neutral aircraft shortly.

To check the rising level of CO2 and other harmful emissions by currently operational airplanes, governments across the globe are planning roadmaps to contain the pollution caused by kerosene-based aircraft. For instance, countries, such as the U.S., South Korea, Germany, and France, have formulated strategic plans regarding the transition to electric/hydrogen-based aircraft. Moreover, various companies around the world are designing aircraft propelled by batteries, hydrogen, or hybrid technologies (battery and hydrogen), and solar cells. The zero-emission aircraft running on such energy resources can highly reduce emissions and platforms, such as air-taxis (for instance, CityHawk by Urban Aeronautics), can make effortless city travel possible in just a few years. The arrival of such aircraft can significantly reduce our dependence on fossil fuels over the years and open new avenues of sustainable aviation.

The market segmentation is based on source, range, application, type, and region. By source, the market is divided into hydrogen, electric, and solar. Based on range, it is classified into short-haul, medium-haul, and long-haul. Based on application, it is bifurcated into passenger aircraft and cargo aircraft. Based on type, it is bifurcated into turboprop rear bulkhead, turbofan system, and blended wing body. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

According to International Civil Aviation Organization’s (ICAO) yearly worldwide statistics, the total number of commuters carried on scheduled flights rose to 4.39 billion in 2019, which was 3.69% higher than the previous year. The highest passenger traffic was witnessed in the Asia-Pacific region. In October 2018, the International Air Transport Association (IATA) publicized that the current developments in air transport project that the passenger count could double to 8.2 billion in 2037. The COVID-19 pandemic led to a severe downfall in air traffic figures, although recently, in May 2021, the International Air Transport Association (IATA) stated that the global air passenger traffic is anticipated to recover to almost 88% of pre-COVID-19 levels during 2022, and is projected to outdo this level during 2023. This signifies a robust demand for air travel globally.

The abovementioned statistics suggest rise in air passenger traffic over the years internationally. The present fleet of aircraft is powered by kerosene (fossil fuel) and owing to the rise in air passenger traffic, there is increase in consumption of kerosene as well. This calls to search for other energy sources, such as hydrogen and electricity, to power the next generation of aircraft. Hydrogen as an energy carrier for usage in aircraft has some exceptional qualities, such as minimum pollution, lightweight, global availability, and safety, thus making it a suitable aviation fuel. Electricity or battery-powered aircraft cost less to operate and maintain than fuel-powered aircraft engines; are much quieter; and offer smoother, more comfortable flights. As the operations of hydrogen & battery-powered aircraft do not emit carbon emissions, the usage of these technologies can prove quite beneficial for the aviation industry and the environment as well. Therefore, the rise in air traffic is anticipated to drive the growth of the zero-emission aircraft market during the forecast period.  

Some of the prominent players in the Zero-Emission Aircraft Market include:

• AeroDelft
• Airbus S.A.S.
• Blue Origin Federation, LLC
• Boeing Aerospace NYSE: BA
• Bye Aerospace
• Eviation Aircraft
• HES Energy Systems
• Joby Aviation
• Lilium
• Lockheed Martin Corporation NYSE: LMT
• Northrop Grumman Corporation NYSE: NOC
• Pipistrel d.o.o
• Reaction Engines
• Rolls-Royce Holdings PLC
• SpaceX Aerospace Company
• Thales SA
• Wright Electric
• ZeroAvia, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Zero-Emission Aircraft market.

By Source

• Hydrogen
• Electric
• Solar

By Range

• Short-Haul
• Medium-Haul
• Long-Haul

By Application

• Passenger Aircraft
• Cargo Aircraft   

By Type

• Turboprop Rear Bulkhead
• Turbofan System
• Blended Wing Body

By Region

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa (MEA)