Aircraft Fuel Cells Market by Fuel Type (Hydrogen, Hydrocarbon, Others), Power Output (0-100kW, 100 kW- 1MW, 1MW & Above), Aircraft Type (Fixed-Wing, Rotary Wing, UAVs, AAMs) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2035
Aircraft Fuel Cells Market by Fuel Type (Hydrogen, Hydrocarbon, Others), Power Output (0-100kW, 100 kW- 1MW, 1MW & Above), Aircraft Type (Fixed-Wing, Rotary Wing, UAVs, AAMs) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2035
Abstract
The aircraft fuel cell market is expected to grow from USD 1.6 billion at a CAGR of 10.8% during the forecast period, reaching USD 5.7 billion by 2035. Market expansion is likely to be driven by factors such as stringent environmental regulations, growing sustainability initiatives, increasing emphasis on reducing operational costs, advancements in fuel cell technology, and the need for enhanced energy efficiency and range in aircraft operations.
“ Stringent Environment Regulations and need for sustainable aviation practices to increase the adoption of fuel cells. “
Increasingly stringent environmental regulations, such as emission standards set by international bodies like the International Civil Aviation Organization (ICAO), are driving the market expansion of aircraft fuel cells. These regulations aim to reduce carbon emissions and address climate change concerns. Fuel cells, with their low or zero emissions profile, enable compliance with these regulations, making them an attractive choice for airlines and aircraft operators striving to meet environmental targets. The aviation industry's growing focus on sustainability and corporate social responsibility is a significant factor driving the expansion of the aircraft fuel cells market.
Airlines and aviation stakeholders are actively adopting sustainable practices to minimize their environmental impact. Fuel cells offer a clean and green energy solution, aligning with sustainability initiatives and enhancing the industry's reputation for responsible and eco-friendly operations. This growing emphasis on sustainability drives the demand for aircraft fuel cells and contributes to their market expansion. Airlines and aircraft operators are increasingly focused on reducing operational costs to enhance profitability. Fuel is a significant expense for the aviation industry, and rising fuel prices impact operational budgets. Fuel cells, with their higher energy efficiency compared to traditional combustion engines, offer cost-saving potential. By reducing fuel consumption and dependency on conventional fuels, fuel cells can help airlines achieve operational cost savings, making them an attractive investment and driving market expansion.
“Based on Fuel Type, the Hydrogen Fuel Cell segment accounts for the largest market size during the forecast period.”
Based on fuel type, the aircraft fuel cell market has been segmented into hydrogen fuel cells, hydrocarbon fuel cells, and others. The hydrogen fuel cell segment is expected to dominate the aircraft fuel cell market for several significant reasons. Firstly, hydrogen fuel cells offer a clean and sustainable energy source, aligning with the aviation industry's increasing focus on reducing carbon emissions and achieving environmental sustainability targets. By utilizing hydrogen as a fuel, fuel cells generate electricity without producing harmful emissions, supporting compliance with stringent emission regulations. Moreover, continuous advancements in hydrogen infrastructure and storage technologies have facilitated the integration of hydrogen fuel cells in aircraft, driving their market dominance. These factors make hydrogen fuel cells an attractive solution for aircraft propulsion, contributing to their leading position in the market.
“Based on the Power Output, the 0-100 kW segment is projected to hold the highest market share during the forecast period.”
Based on power output, the aircraft fuel cell market has been segmented into 0-100 kW, 100 kW- 1 MW, and 1 MW & above. The 0-100kW segment is poised to hold a greater market share in the aircraft fuel cell market in the upcoming years, driven by several key factors. Firstly, the rising demand for smaller aircraft and unmanned aerial vehicles (UAVs) across various industries is fueling the need for compact and lightweight power solutions. The 0-100kW segment perfectly aligns with the power requirements of these aircraft, offering an optimal balance between power output and size. Moreover, advancements in fuel cell technology have improved the efficiency and performance of fuel cells within this power range, making them a reliable and cost-effective choice for auxiliary power units (APUs), emergency power systems, and other essential aircraft operations. As the market for smaller aircraft and UAVs continues to grow, the 0-100kW segment is expected to capture a larger market share in the aircraft fuel cell industry.
“Asia Pacific is projected to grow at the highest CAGR during the forecast period.”
The APAC region is estimated to account for a larger share aircraft fuel cell market in 2023. In this region, the aircraft fuel cell market has been studied for China, India, Japan, Australia, South Korea, and the Rest of APAC. Countries in the Asia Pacific region are upgrading their capabilities by undergoing developments in the field of aircraft fuel cells. The APAC region is also one of the fastest-growing regions in the world for air travel. As the number of air passengers increases, so too will the demand for fuel-efficient aircraft. Fuel cells offer a significant advantage in terms of fuel efficiency, and as a result, they are seen as a promising technology for the future of air travel.
The APAC region also has a strong manufacturing base that is capable of producing fuel cells at a competitive cost. This is another important factor, as the cost of fuel cells is a key factor in their adoption by the aviation industry. APAC is home to some of the world's fastest-growing aviation markets, with increasing air travel demand and a rising number of commercial aircraft. This growth presents a substantial opportunity for the adoption of aircraft fuel cells. The governments in APAC countries are actively investing in clean energy technologies and sustainable aviation initiatives. These initiatives include the development of hydrogen infrastructure, research and development programs, and supportive policies for the deployment of fuel cell technology.
The break-up of the profile of primary participants in the ultralight and light aircraft market:
•By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14%
•By Designation: C Level – 55%, Director Level – 27%, and Others – 18%
•By Region: North America – 45%, Europe – 26%, Asia Pacific –16%, Rest of the World- 13%.
Major players operating in the aircraft fuel cell market are ZeroAvia Inc. (US), Intelligent Energy Limited (UK), Piasecki Aircraft Corporation (US), Doosan Mobility Innovation (South Korea), and H3 Dynamics (Singapore), among others.
Research Coverage:
This research report categorizes the aircraft fuel cell market basis on Fuel Type (hydrogen fuel cells, hydrocarbon fuel cells, and others), By Power Output (0-100 kW, 100 kW – 1 MW, 1 MW & Above), Aircraft Type (Fixed Wing, Rotary Wing, UAVs, AAM), in these segments have been mapped across major Regions (North America, Europe, Asia Pacific, and Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft fuel cell market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the aircraft fuel cell market. Competitive analysis of upcoming startups in the aircraft fuel cell market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft fuel cell market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
•Market Penetration: Comprehensive information on aircraft fuel cells offered by the top players in the market
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the aircraft fuel cell market
•Market Development: Comprehensive information about lucrative markets – the report analyzes the aircraft fuel cell market across varied regions
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the aircraft fuel cell market.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the aircraft fuel cell market.
Content
Table of Contents
1INTRODUCTION26
1.1STUDY OBJECTIVES26
1.2MARKET DEFINITION26
1.3STUDY SCOPE27
1.3.1AIRCRAFT FUEL CELL MARKET SEGMENTATION27
1.3.2REGIONAL SCOPE27
1.3.3YEARS CONSIDERED28
1.4CURRENCY CONSIDERED28
TABLE 1USD EXCHANGE RATES28
1.5STAKEHOLDERS29
1.6INCLUSIONS AND EXCLUSIONS29
TABLE 2AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE29
2RESEARCH METHODOLOGY30
2.1RESEARCH DATA30
FIGURE 1REPORT PROCESS FLOW30
FIGURE 2AIRCRAFT FUEL CELL MARKET: RESEARCH DESIGN31
2.1.1SECONDARY DATA31
2.1.1.1Key data from secondary sources32
2.1.2PRIMARY DATA32
2.1.2.1Key primary sources: by company type, designation, and region32
2.2FACTOR ANALYSIS33
2.2.1INTRODUCTION33
2.2.2DEMAND-SIDE INDICATORS33
2.2.2.1Increasing environmental regulations34
2.2.2.2Rising fuel costs34
2.2.2.3Increasing focus on sustainable aviation34
2.2.3SUPPLY-SIDE ANALYSIS34
2.2.3.1Advancements in technology34
2.2.3.2Increasing fuel cell manufacturing34
2.2.3.3Cost reduction initiatives35
2.2.3.4Collaboration between industry stakeholders35
2.3MARKET DEFINITION AND SCOPE35
2.3.1SEGMENTS AND SUBSEGMENTS36
2.3.2EXCLUSIONS36
2.3.3PRIMARY INTERVIEWEE DETAILS37
2.4MARKET SIZE ESTIMATION AND METHODOLOGY37
2.4.1BOTTOM-UP APPROACH37
2.4.1.1Aircraft fuel cell market for aircraft type 138
2.4.1.2Aircraft fuel cell market for aircraft type 238
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH39
2.4.2TOP-DOWN APPROACH39
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH39
2.5TRIANGULATION AND VALIDATION40
FIGURE 5DATA TRIANGULATION40
2.5.1TRIANGULATION THROUGH PRIMARY AND SECONDARY RESEARCH40
2.6MARKET SIZING AND FORECASTING41
2.7RECESSION IMPACT ANALYSIS41
2.7.1RESEARCH ASSUMPTIONS42
2.8RESEARCH LIMITATIONS42
2.9RISKS42
2.10GROWTH FORECAST43
3EXECUTIVE SUMMARY44
FIGURE 6PEMFC SEGMENT TO HAVE LARGEST MARKET SHARE FROM 2023 TO 203544
FIGURE 710 KW–100 KW SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD45
FIGURE 8NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARE IN 202345
4PREMIUM INSIGHTS46
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AIRCRAFT FUEL CELL MARKET46
FIGURE 9INCREASE IN RETROFITTING OF FUEL CELLS IN AIRCRAFT TO DRIVE MARKET46
4.2AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE46
FIGURE 10UAV SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD46
4.3AIRCRAFT FUEL CELL MARKET, BY COUNTRY/REGION47
FIGURE 11CANADA TO REGISTER HIGHEST CAGR FROM 2023 TO 203547
5MARKET OVERVIEW48
5.1INTRODUCTION48
5.2MARKET DYNAMICS49
FIGURE 12AIRCRAFT FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES49
5.2.1DRIVERS49
5.2.1.1Rising conventional fuel prices49
5.2.1.2Rising focus on sustainable aviation50
5.2.1.3Technological advancements and cost reductions in aircraft fuel cells50
5.2.2RESTRAINTS51
5.2.2.1Hydrogen storage and cooling51
5.2.2.2Premium charge for fuel cells hinders widespread adoption51
5.2.3OPPORTUNITIES52
5.2.3.1Innovation in HTPEM technology52
5.2.3.2Reduced noise levels52
5.2.3.3Leveraging fuel cell technology to power smaller aircraft53
5.2.4CHALLENGES53
5.2.4.1Overcoming commercial feasibility challenges of hydrogen for fuel cell adoption53
5.2.4.2Overcoming architectural challenges for fuel cell integration in larger aircraft54
5.2.4.3Improving heat removal capabilities of LTPEM fuel cells for effective integration in aircraft systems54
5.3PRICING ANALYSIS55
TABLE 3AVERAGE SELLING PRICE RANGE: AIRCRAFT FUEL CELLS, BY TYPE (USD)55
5.4VALUE CHAIN55
FIGURE 13AIRCRAFT FUEL CELL MARKET: VALUE CHAIN ANALYSIS55
5.5AIRCRAFT FUEL CELL MARKET ECOSYSTEM56
5.5.1PROMINENT COMPANIES56
5.5.2PRIVATE AND SMALL ENTERPRISES57
5.5.3END USERS57
TABLE 4AIRCRAFT FUEL CELL MARKET ECOSYSTEM MAP57
FIGURE 14AIRCRAFT FUEL CELL MARKET ECOSYSTEM58
5.6TRADE DATA STATISTICS58
TABLE 5TRADE DATA TABLE FOR AIRCRAFT FUEL CELLS58
5.7TECHNOLOGY TRENDS IN AIRCRAFT FUEL CELL MARKET59
5.7.1ADVANCEMENTS IN FUEL CELL TECHNOLOGY59
5.7.2FUEL CELL HYBRID SYSTEMS59
5.7.3UTILIZATION OF ALTERNATIVE FUELS59
5.8CASE STUDY ANALYSIS60
5.8.1ZEROAVIA: HYDROGEN-ELECTRIC AIRCRAFT60
5.8.2BOEING: FUEL-CELL POWERED UAV60
5.8.3AIRBUS: E-FAN X HYBRID-ELECTRIC AIRCRAFT60
5.9TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS60
5.9.1REVENUE SHIFT AND NEW REVENUE POCKETS FOR AIRCRAFT FUEL CELL PRODUCT AND SOLUTION MANUFACTURERS60
FIGURE 15REVENUE SHIFT IN AIRCRAFT FUEL CELL MARKET61
5.10PORTER'S FIVE FORCES ANALYSIS61
TABLE 6AIRCRAFT FUEL CELL MARKET: PORTER'S FIVE FORCES ANALYSIS61
FIGURE 16AIRCRAFT FUEL CELL MARKET: PORTER'S FIVE FORCES ANALYSIS62
5.10.1THREAT OF NEW ENTRANTS62
5.10.2THREAT OF SUBSTITUTES62
5.10.3BARGAINING POWER OF SUPPLIERS63
5.10.4BARGAINING POWER OF BUYERS63
5.10.5INTENSITY OF COMPETITIVE RIVALRY63
5.11KEY STAKEHOLDERS AND BUYING CRITERIA63
5.11.1KEY STAKEHOLDERS IN BUYING PROCESS64
FIGURE 17INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS64
TABLE 7INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS (%)64
5.11.2BUYING CRITERIA65
FIGURE 18KEY BUYING CRITERIA FOR AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS65
TABLE 8KEY BUYING CRITERIA FOR AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS65
5.12KEY CONFERENCES AND EVENTS IN 2023–202466
TABLE 9AIRCRAFT FUEL CELL MARKET: DETAILED LIST OF CONFERENCES AND EVENTS66
5.13TARIFF AND REGULATORY LANDSCAPE FOR AEROSPACE INDUSTRY67
TABLE 10NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 11EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
TABLE 12ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS69
TABLE 13REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS70
6INDUSTRY TRENDS71
6.1INTRODUCTION71
6.2TECHNOLOGICAL ADVANCEMENTS IN AIRCRAFT FUEL CELLS71
6.2.1HIGH POWER DENSITY OFFERED BY SOLID-OXIDE FUEL CELLS TO EXPAND OPPORTUNITIES IN FUTURISTIC AIR MOBILITY SOLUTIONS71
6.2.2BLOCKCHAIN72
6.2.3HYDROGEN INFRASTRUCTURE DEVELOPMENT72
6.2.4LOW-TEMPERATURE PROTON EXCHANGE MEMBRANE FUEL CELLS72
6.3EMERGING TRENDS IN AIRCRAFT FUEL CELL MANUFACTURING73
6.3.13D PRINTING73
6.3.2BIG DATA74
6.3.3PREDICTIVE MAINTENANCE74
6.4SUPPLY CHAIN ANALYSIS74
FIGURE 19SUPPLY CHAIN ANALYSIS75
6.5USE CASES75
6.5.1AIRBUS DEVELOPS HYBRID COMMERCIAL AIRLINERS RUN BY FUEL CELLS75
6.5.2HYPOINT AND PIASECKI AIRCRAFT CORPORATION: COLLABORATION ON ZERO CARBON-EMISSION HYDROGEN FUEL CELL SYSTEMS FOR EVTOLS76
6.5.3ZEROAVIA AND ALASKA AIRLINES: COLLABORATION ON HYDROGEN-ELECTRIC POWERTRAIN FOR REGIONAL AIRCRAFT76
6.6PATENT ANALYSIS77
TABLE 14INNOVATIONS AND PATENT REGISTRATIONS77
7AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE80
7.1INTRODUCTION81
FIGURE 20AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)81
TABLE 15AIRCRAFT FUEL CELL MARKET FOR HYDROGEN FUEL CELLS, BY FUEL TYPE, 2019–2022 (USD MILLION)81
TABLE 16AIRCRAFT FUEL CELL MARKET FOR HYDROGEN FUEL CELLS, BY FUEL TYPE, 2023–2035 (USD MILLION)81
7.2HYDROGEN FUEL CELLS82
7.2.1PROTON EXCHANGE MEMBRANE FUEL CELLS82
7.2.1.1Favorable characteristics to drive demand for PEM Fuel Cells82
7.2.2SOLID OXIDE FUEL CELLS83
7.2.2.1Potential applications of SOFC in aircraft fuel cells to drive market83
7.2.3OTHERS83
7.3HYDROCARBON FUEL CELLS84
7.3.1VERSATILITY AND EASE OF USE WITH ADVANCEMENTS IN TECHNOLOGY TO DRIVE DEMAND84
7.4OTHERS85
8AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT86
8.1INTRODUCTION87
FIGURE 21AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT, 2023–2035 (USD MILLION)87
TABLE 17AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT, 2019–2022 (USD MILLION)87
TABLE 18AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT, 2023–2035 (USD MILLION)87
8.210 KW–100 KW88
8.2.1INCREASING DEMAND FOR FUEL CELL SYSTEMS FOR SMALL AIRCRAFT TO DRIVE SEGMENT88
8.3100 KW–1 MW88
8.3.1REQUIREMENT FOR FUEL CELL SYSTEMS FOR LARGER AIRCRAFT TO DRIVE SEGMENT88
8.41 MW & ABOVE88
8.4.1TECHNOLOGICAL ADVANCEMENTS AND HIGH-POWER OUTPUT REQUIREMENTS TO DRIVE DEMAND88
9AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE89
9.1INTRODUCTION90
FIGURE 22AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)90
TABLE 19AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)90
TABLE 20AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)91
9.2FIXED-WING91
9.2.1ONGOING DEVELOPMENTS TO DRIVE FIXED-WING SEGMENT91
TABLE 21FIXED-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2019–2022 (USD MILLION)91
TABLE 22FIXED-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2023–2035 (USD MILLION)92
9.3ROTARY-WING92
9.3.1UNDERDEVELOPMENT PROJECTS, ONCE COMPLETED, TO DRIVE ROTARY-WING SEGMENT92
TABLE 23ROTARY-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2019–2022 (USD MILLION)92
TABLE 24ROTARY-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2023–2035 (USD MILLION)93
9.4UNMANNED AERIAL VEHICLE93
9.4.1EXPANDING CAPABILITIES TO DRIVE DEMAND FOR UNMANNED AERIAL VEHICLES93
9.5ADVANCED AIR MOBILITY93
9.5.1INTEGRATION OF FUEL CELL TECHNOLOGY TO DRIVE MARKET FOR ADVANCED AIR MOBILITY93
TABLE 25ADVANCED AIR MOBILITY: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2019–2022 (USD MILLION)94
TABLE 26ADVANCED AIR MOBILITY: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2023–2035 (USD MILLION)94
10AIRCRAFT FUEL CELL MARKET, BY REGION95
10.1INTRODUCTION96
FIGURE 23AIRCRAFT FUEL CELL MARKET: REGIONAL SNAPSHOT96
TABLE 27AIRCRAFT FUEL CELL MARKET, BY REGION, 2019–2022 (USD MILLION)96
TABLE 28AIRCRAFT FUEL CELL MARKET, BY REGION, 2023–2035 (USD MILLION)97
10.2NORTH AMERICA97
FIGURE 24NORTH AMERICA: AIRCRAFT FUEL CELL MARKET SNAPSHOT98
10.2.1PESTLE ANALYSIS: NORTH AMERICA98
TABLE 29NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)99
TABLE 30NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2023–2035 (USD MILLION)100
TABLE 31NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY HYDROGEN FUEL CELL TYPE, 2019–2022 (USD MILLION)100
TABLE 32NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY HYDROGEN FUEL CELL TYPE, 2023–2035 (USD MILLION)100
TABLE 33NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)100
TABLE 34NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)101
10.2.2US101
10.2.2.1Presence of leading aircraft fuel cell manufacturers to drive market101
TABLE 35US: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)101
TABLE 36US: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)102
TABLE 37US: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)102
TABLE 38US: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)102
10.2.3CANADA102
10.2.3.1Investments in R&D of new materials to drive market102
TABLE 39CANADA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)103
TABLE 40CANADA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)103
TABLE 41CANADA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)103
TABLE 42CANADA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)104
10.3EUROPE104
10.3.1PESTLE ANALYSIS: EUROPE104
FIGURE 25EUROPE: AIRCRAFT FUEL CELL MARKET SNAPSHOT106
TABLE 43EUROPE: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)106
TABLE 44EUROPE: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2023–2035 (USD MILLION)107
TABLE 45EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)107
TABLE 46EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)107
TABLE 47EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)107
TABLE 48EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)108
10.3.2UK108
10.3.2.1Increase in air travel to drive market108
TABLE 49UK: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)108
TABLE 50UK: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)109
TABLE 51UK: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)109
TABLE 52UK: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)109
10.3.3FRANCE109
10.3.3.1Considerable investments in aerospace systems and components to drive market109
TABLE 53FRANCE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)110
TABLE 54FRANCE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)110
TABLE 55FRANCE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)111
TABLE 56FRANCE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)111
10.3.4GERMANY111
10.3.4.1Growing investment in aerospace technology and air connectivity to drive market111
TABLE 57GERMANY: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)112
TABLE 58GERMANY: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)112
TABLE 59GERMANY: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)112
TABLE 60GERMANY: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)112
10.3.5REST OF EUROPE113
TABLE 61REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)113
TABLE 62REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)113
TABLE 63REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)113
TABLE 64REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)114
10.4ASIA PACIFIC114
10.4.1ASIA PACIFIC: PESTLE ANALYSIS115
FIGURE 26ASIA PACIFIC: AIRCRAFT FUEL CELL MARKET SNAPSHOT116
TABLE 65ASIA PACIFIC: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)116
TABLE 66ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY COUNTRY, 2023–2035 (USD MILLION)117
TABLE 67ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)117
TABLE 68ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)117
TABLE 69ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)117
TABLE 70ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)118
10.4.2CHINA118
10.4.2.1Large-scale domestic manufacturing to boost market118
TABLE 71CHINA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)118
TABLE 72CHINA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)118
TABLE 73CHINA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)119
TABLE 74CHINA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)119
10.4.3INDIA119
10.4.3.1Rising government focus on military and defense to propel market119
TABLE 75INDIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)119
TABLE 76INDIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)120
TABLE 77INDIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)120
TABLE 78INDIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)120
10.4.4JAPAN120
10.4.4.1Increased demand from air force to support market growth120
TABLE 79JAPAN: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)121
TABLE 80JAPAN: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)121
TABLE 81JAPAN: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)121
TABLE 82JAPAN: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)121
10.4.5AUSTRALIA122
10.4.5.1Increasing demand from airlines to boost market122
TABLE 83AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)122
TABLE 84AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)122
TABLE 85AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)122
TABLE 86AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)123
10.4.6SOUTH KOREA123
10.4.6.1Rising security concerns from neighboring countries to drive market123
TABLE 87SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)123
TABLE 88SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)123
TABLE 89SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)124
TABLE 90SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)124
10.4.7REST OF ASIA PACIFIC124
TABLE 91REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)124
TABLE 92REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)125
TABLE 93REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)125
TABLE 94REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)125
10.5REST OF THE WORLD125
10.5.1PESTLE ANALYSIS: REST OF THE WORLD126
FIGURE 27REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET SNAPSHOT127
TABLE 95REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY REGION, 2019–2022 (USD MILLION)128
TABLE 96REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY REGION, 2023–2035 (USD MILLION)128
TABLE 97REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)128
TABLE 98REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)128
TABLE 99REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)129
TABLE 100REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)129
10.5.2MIDDLE EAST129
10.5.2.1New start-ups to drive market129
TABLE 101MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)129
TABLE 102MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)130
TABLE 103MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)130
TABLE 104MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)130
10.5.3AFRICA130
10.5.3.1Government support to drive market130
TABLE 105AFRICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)131
TABLE 106AFRICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)131
TABLE 107AFRICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)131
TABLE 108AFRICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)131
10.5.4LATIN AMERICA132
10.5.4.1Growing focus on sustainability to drive market132
TABLE 109LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)132
TABLE 110LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)132
TABLE 111LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)133
TABLE 112LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)133
11COMPETITIVE LANDSCAPE134
11.1INTRODUCTION134
11.2RANKING OF LEADING PLAYERS, 2023134
FIGURE 28MARKET RANKING OF LEADING PLAYERS IN AIRCRAFT FUEL CELL MARKET, 2023134
11.3MARKET SHARE ANALYSIS, 2023135
FIGURE 29MARKET SHARE OF TOP PLAYERS IN AIRCRAFT FUEL CELL MARKET, 2023135
11.4REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS, 2023136
FIGURE 30REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS IN AIRCRAFT FUEL CELLS MARKET136
11.5COMPETITIVE OVERVIEW137
TABLE 113KEY DEVELOPMENTS BY LEADING PLAYERS IN AIRCRAFT FUEL CELL MARKET BETWEEN 2021 AND 2023137
TABLE 114COMPANY AIRCRAFT TYPE FOOTPRINT138
TABLE 115COMPANY REGION FOOTPRINT139
11.6COMPANY EVALUATION MATRIX140
11.6.1STARS140
11.6.2EMERGING LEADERS140
11.6.3PERVASIVE PLAYERS140
11.6.4PARTICIPANTS140
FIGURE 31AIRCRAFT FUEL CELL MARKET: COMPANY EVALUATION MATRIX, 2023141
11.7COMPANY PRODUCT FOOTPRINT ANALYSIS142
TABLE 116COMPANY FOOTPRINT142
11.8START-UP/SME EVALUATION MATRIX143
11.8.1PROGRESSIVE COMPANIES143
11.8.2RESPONSIVE COMPANIES143
11.8.3DYNAMIC COMPANIES143
11.8.4STARTING BLOCKS143
FIGURE 32AIRCRAFT FUEL CELL MARKET: START-UP/SME EVALUATION MATRIX, 2023144
11.8.5COMPETITIVE BENCHMARKING145
TABLE 117AIRCRAFT FUEL CELL MARKET: DETAILED LIST OF KEY START-UPS/SMES145
11.9COMPETITIVE SCENARIO145
11.9.1DEALS145
TABLE 118DEALS, 2021–2023145
12COMPANY PROFILES154
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
12.1KEY PLAYERS154
12.1.1DOOSAN MOBILITY INNOVATION154
TABLE 119DOOSAN MOBILITY INNOVATION: COMPANY OVERVIEW154
TABLE 120DOOSAN MOBILITY INNOVATION: PRODUCTS OFFERED 154
TABLE 121DOOSAN MOBILITY INNOVATION: DEALS155
12.1.2ZEROAVIA, INC.158
TABLE 122ZEROAVIA, INC.: COMPANY OVERVIEW158
TABLE 123ZEROAVIA, INC.: PRODUCTS OFFERED 158
TABLE 124ZEROAVIA, INC.: DEALS159
12.1.3AIRBUS163
TABLE 125AIRBUS: COMPANY OVERVIEW163
FIGURE 33AIRBUS: COMPANY SNAPSHOT164
TABLE 126AIRBUS: PRODUCTS OFFERED 164
TABLE 127AIRBUS: DEALS165
12.1.4AEROVIRONMENT, INC.167
TABLE 128AEROVIRONMENT, INC.: COMPANY OVERVIEW167
FIGURE 34AEROVIRONMENT, INC.: COMPANY SNAPSHOT168
TABLE 129AEROVIRONMENT, INC.: PRODUCTS OFFERED 168
TABLE 130AEROVIRONMENT, INC.: DEALS169
12.1.5POWERCELL SWEDEN AB170
TABLE 131POWERCELL SWEDEN AB: COMPANY OVERVIEW170
FIGURE 35POWERCELL SWEDEN AB: COMPANY SNAPSHOT171
TABLE 132POWERCELL SWEDEN AB: PRODUCTS OFFERED 171
TABLE 133POWERCELL SWEDEN AB: DEALS172
12.1.6APUS GROUP174
TABLE 134APUS GROUP: COMPANY OVERVIEW174
TABLE 135APUS GROUP: PRODUCTS OFFERED 174
12.1.7UNIVERSAL HYDROGEN CO.175
TABLE 136UNIVERSAL HYDROGEN CO.: COMPANY OVERVIEW175
TABLE 137UNIVERSAL HYDROGEN CO.: PRODUCTS OFFERED 175
TABLE 138UNIVERSAL HYDROGEN CO.: DEALS176
12.1.8INTELLIGENT ENERGY LIMITED178
TABLE 139INTELLIGENT ENERGY LIMITED: COMPANY OVERVIEW178
TABLE 140INTELLIGENT ENERGY LIMITED: PRODUCTS OFFERED 178
TABLE 141INTELLIGENT ENERGY LIMITED: DEALS179
12.1.9EMBRAER181
TABLE 142EMBRAER: COMPANY OVERVIEW181
FIGURE 36EMBRAER: COMPANY SNAPSHOT182
TABLE 143EMBRAER: PRODUCTS OFFERED 182
TABLE 144EMBRAER: DEALS183
12.1.10GKN AEROSPACE SERVICES LIMITED184
TABLE 145GKN AEROSPACE SERVICES LIMITED: COMPANY OVERVIEW184
TABLE 146GKN AEROSPACE SERVICES LIMITED: PRODUCTS OFFERED 184
TABLE 147GKN AEROSPACE SERVICES LIMITED: DEALS185
12.1.11HYPOINT INC.186
TABLE 148HYPOINT INC.: COMPANY OVERVIEW186
TABLE 149HYPOINT INC.: PRODUCTS OFFERED 186
TABLE 150HYPOINT INC.: DEALS187
12.1.12PIASECKI AIRCRAFT CORPORATION188
TABLE 151PIASECKI AIRCRAFT CORPORATION: COMPANY OVERVIEW188
TABLE 152PIASECKI AIRCRAFT CORPORATION: PRODUCTS OFFERED 188
TABLE 153PIASECKI AIRCRAFT CORPORATION: DEALS189
12.1.13H3 DYNAMICS190
TABLE 154H3 DYNAMICS: COMPANY OVERVIEW190
TABLE 155H3 DYNAMICS: PRODUCTS OFFERED 190
TABLE 156H3 DYNAMICS: DEALS192
12.1.14PLUG POWER INC.193
TABLE 157PLUG POWER INC.: COMPANY OVERVIEW193
FIGURE 37PLUG POWER INC.: COMPANY SNAPSHOT193
TABLE 158PLUG POWER INC.: PRODUCTS OFFERED 194
12.1.15AVIO AERO195
TABLE 159AVIO AERO: COMPANY OVERVIEW195
TABLE 160AVIO AERO: PRODUCTS OFFERED 195
12.2OTHER PLAYERS196
12.2.1FUEL CELL STORE196
12.2.2FLYKA197
12.2.3HONEYWELL INTERNATIONAL INC.197
12.2.4SHANGHAI PEARL HYDROGEN ENERGY TECHNOLOGY CO., LTD.198
12.2.5URBAN AERONAUTICS LTD.198
12.2.6PIPISTREL D.O.O.199
12.2.7ALAKA’I TECHNOLOGIES199
12.2.8AERODELFT200
12.2.9ACCELERA200
12.2.10SFC ENERGY AG201
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
13APPENDIX202
13.1DISCUSSION GUIDE202
13.2KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL206
13.3CUSTOMIZATION OPTIONS208
13.4RELATED REPORTS208
13.5AUTHOR DETAILS209
“ Stringent Environment Regulations and need for sustainable aviation practices to increase the adoption of fuel cells. “
Increasingly stringent environmental regulations, such as emission standards set by international bodies like the International Civil Aviation Organization (ICAO), are driving the market expansion of aircraft fuel cells. These regulations aim to reduce carbon emissions and address climate change concerns. Fuel cells, with their low or zero emissions profile, enable compliance with these regulations, making them an attractive choice for airlines and aircraft operators striving to meet environmental targets. The aviation industry's growing focus on sustainability and corporate social responsibility is a significant factor driving the expansion of the aircraft fuel cells market.
Airlines and aviation stakeholders are actively adopting sustainable practices to minimize their environmental impact. Fuel cells offer a clean and green energy solution, aligning with sustainability initiatives and enhancing the industry's reputation for responsible and eco-friendly operations. This growing emphasis on sustainability drives the demand for aircraft fuel cells and contributes to their market expansion. Airlines and aircraft operators are increasingly focused on reducing operational costs to enhance profitability. Fuel is a significant expense for the aviation industry, and rising fuel prices impact operational budgets. Fuel cells, with their higher energy efficiency compared to traditional combustion engines, offer cost-saving potential. By reducing fuel consumption and dependency on conventional fuels, fuel cells can help airlines achieve operational cost savings, making them an attractive investment and driving market expansion.
“Based on Fuel Type, the Hydrogen Fuel Cell segment accounts for the largest market size during the forecast period.”
Based on fuel type, the aircraft fuel cell market has been segmented into hydrogen fuel cells, hydrocarbon fuel cells, and others. The hydrogen fuel cell segment is expected to dominate the aircraft fuel cell market for several significant reasons. Firstly, hydrogen fuel cells offer a clean and sustainable energy source, aligning with the aviation industry's increasing focus on reducing carbon emissions and achieving environmental sustainability targets. By utilizing hydrogen as a fuel, fuel cells generate electricity without producing harmful emissions, supporting compliance with stringent emission regulations. Moreover, continuous advancements in hydrogen infrastructure and storage technologies have facilitated the integration of hydrogen fuel cells in aircraft, driving their market dominance. These factors make hydrogen fuel cells an attractive solution for aircraft propulsion, contributing to their leading position in the market.
“Based on the Power Output, the 0-100 kW segment is projected to hold the highest market share during the forecast period.”
Based on power output, the aircraft fuel cell market has been segmented into 0-100 kW, 100 kW- 1 MW, and 1 MW & above. The 0-100kW segment is poised to hold a greater market share in the aircraft fuel cell market in the upcoming years, driven by several key factors. Firstly, the rising demand for smaller aircraft and unmanned aerial vehicles (UAVs) across various industries is fueling the need for compact and lightweight power solutions. The 0-100kW segment perfectly aligns with the power requirements of these aircraft, offering an optimal balance between power output and size. Moreover, advancements in fuel cell technology have improved the efficiency and performance of fuel cells within this power range, making them a reliable and cost-effective choice for auxiliary power units (APUs), emergency power systems, and other essential aircraft operations. As the market for smaller aircraft and UAVs continues to grow, the 0-100kW segment is expected to capture a larger market share in the aircraft fuel cell industry.
“Asia Pacific is projected to grow at the highest CAGR during the forecast period.”
The APAC region is estimated to account for a larger share aircraft fuel cell market in 2023. In this region, the aircraft fuel cell market has been studied for China, India, Japan, Australia, South Korea, and the Rest of APAC. Countries in the Asia Pacific region are upgrading their capabilities by undergoing developments in the field of aircraft fuel cells. The APAC region is also one of the fastest-growing regions in the world for air travel. As the number of air passengers increases, so too will the demand for fuel-efficient aircraft. Fuel cells offer a significant advantage in terms of fuel efficiency, and as a result, they are seen as a promising technology for the future of air travel.
The APAC region also has a strong manufacturing base that is capable of producing fuel cells at a competitive cost. This is another important factor, as the cost of fuel cells is a key factor in their adoption by the aviation industry. APAC is home to some of the world's fastest-growing aviation markets, with increasing air travel demand and a rising number of commercial aircraft. This growth presents a substantial opportunity for the adoption of aircraft fuel cells. The governments in APAC countries are actively investing in clean energy technologies and sustainable aviation initiatives. These initiatives include the development of hydrogen infrastructure, research and development programs, and supportive policies for the deployment of fuel cell technology.
The break-up of the profile of primary participants in the ultralight and light aircraft market:
•By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14%
•By Designation: C Level – 55%, Director Level – 27%, and Others – 18%
•By Region: North America – 45%, Europe – 26%, Asia Pacific –16%, Rest of the World- 13%.
Major players operating in the aircraft fuel cell market are ZeroAvia Inc. (US), Intelligent Energy Limited (UK), Piasecki Aircraft Corporation (US), Doosan Mobility Innovation (South Korea), and H3 Dynamics (Singapore), among others.
Research Coverage:
This research report categorizes the aircraft fuel cell market basis on Fuel Type (hydrogen fuel cells, hydrocarbon fuel cells, and others), By Power Output (0-100 kW, 100 kW – 1 MW, 1 MW & Above), Aircraft Type (Fixed Wing, Rotary Wing, UAVs, AAM), in these segments have been mapped across major Regions (North America, Europe, Asia Pacific, and Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft fuel cell market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the aircraft fuel cell market. Competitive analysis of upcoming startups in the aircraft fuel cell market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft fuel cell market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
•Market Penetration: Comprehensive information on aircraft fuel cells offered by the top players in the market
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the aircraft fuel cell market
•Market Development: Comprehensive information about lucrative markets – the report analyzes the aircraft fuel cell market across varied regions
•Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the aircraft fuel cell market.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the aircraft fuel cell market.
1INTRODUCTION26
1.1STUDY OBJECTIVES26
1.2MARKET DEFINITION26
1.3STUDY SCOPE27
1.3.1AIRCRAFT FUEL CELL MARKET SEGMENTATION27
1.3.2REGIONAL SCOPE27
1.3.3YEARS CONSIDERED28
1.4CURRENCY CONSIDERED28
TABLE 1USD EXCHANGE RATES28
1.5STAKEHOLDERS29
1.6INCLUSIONS AND EXCLUSIONS29
TABLE 2AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE29
2RESEARCH METHODOLOGY30
2.1RESEARCH DATA30
FIGURE 1REPORT PROCESS FLOW30
FIGURE 2AIRCRAFT FUEL CELL MARKET: RESEARCH DESIGN31
2.1.1SECONDARY DATA31
2.1.1.1Key data from secondary sources32
2.1.2PRIMARY DATA32
2.1.2.1Key primary sources: by company type, designation, and region32
2.2FACTOR ANALYSIS33
2.2.1INTRODUCTION33
2.2.2DEMAND-SIDE INDICATORS33
2.2.2.1Increasing environmental regulations34
2.2.2.2Rising fuel costs34
2.2.2.3Increasing focus on sustainable aviation34
2.2.3SUPPLY-SIDE ANALYSIS34
2.2.3.1Advancements in technology34
2.2.3.2Increasing fuel cell manufacturing34
2.2.3.3Cost reduction initiatives35
2.2.3.4Collaboration between industry stakeholders35
2.3MARKET DEFINITION AND SCOPE35
2.3.1SEGMENTS AND SUBSEGMENTS36
2.3.2EXCLUSIONS36
2.3.3PRIMARY INTERVIEWEE DETAILS37
2.4MARKET SIZE ESTIMATION AND METHODOLOGY37
2.4.1BOTTOM-UP APPROACH37
2.4.1.1Aircraft fuel cell market for aircraft type 138
2.4.1.2Aircraft fuel cell market for aircraft type 238
FIGURE 3MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH39
2.4.2TOP-DOWN APPROACH39
FIGURE 4MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH39
2.5TRIANGULATION AND VALIDATION40
FIGURE 5DATA TRIANGULATION40
2.5.1TRIANGULATION THROUGH PRIMARY AND SECONDARY RESEARCH40
2.6MARKET SIZING AND FORECASTING41
2.7RECESSION IMPACT ANALYSIS41
2.7.1RESEARCH ASSUMPTIONS42
2.8RESEARCH LIMITATIONS42
2.9RISKS42
2.10GROWTH FORECAST43
3EXECUTIVE SUMMARY44
FIGURE 6PEMFC SEGMENT TO HAVE LARGEST MARKET SHARE FROM 2023 TO 203544
FIGURE 710 KW–100 KW SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD45
FIGURE 8NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARE IN 202345
4PREMIUM INSIGHTS46
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AIRCRAFT FUEL CELL MARKET46
FIGURE 9INCREASE IN RETROFITTING OF FUEL CELLS IN AIRCRAFT TO DRIVE MARKET46
4.2AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE46
FIGURE 10UAV SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD46
4.3AIRCRAFT FUEL CELL MARKET, BY COUNTRY/REGION47
FIGURE 11CANADA TO REGISTER HIGHEST CAGR FROM 2023 TO 203547
5MARKET OVERVIEW48
5.1INTRODUCTION48
5.2MARKET DYNAMICS49
FIGURE 12AIRCRAFT FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES49
5.2.1DRIVERS49
5.2.1.1Rising conventional fuel prices49
5.2.1.2Rising focus on sustainable aviation50
5.2.1.3Technological advancements and cost reductions in aircraft fuel cells50
5.2.2RESTRAINTS51
5.2.2.1Hydrogen storage and cooling51
5.2.2.2Premium charge for fuel cells hinders widespread adoption51
5.2.3OPPORTUNITIES52
5.2.3.1Innovation in HTPEM technology52
5.2.3.2Reduced noise levels52
5.2.3.3Leveraging fuel cell technology to power smaller aircraft53
5.2.4CHALLENGES53
5.2.4.1Overcoming commercial feasibility challenges of hydrogen for fuel cell adoption53
5.2.4.2Overcoming architectural challenges for fuel cell integration in larger aircraft54
5.2.4.3Improving heat removal capabilities of LTPEM fuel cells for effective integration in aircraft systems54
5.3PRICING ANALYSIS55
TABLE 3AVERAGE SELLING PRICE RANGE: AIRCRAFT FUEL CELLS, BY TYPE (USD)55
5.4VALUE CHAIN55
FIGURE 13AIRCRAFT FUEL CELL MARKET: VALUE CHAIN ANALYSIS55
5.5AIRCRAFT FUEL CELL MARKET ECOSYSTEM56
5.5.1PROMINENT COMPANIES56
5.5.2PRIVATE AND SMALL ENTERPRISES57
5.5.3END USERS57
TABLE 4AIRCRAFT FUEL CELL MARKET ECOSYSTEM MAP57
FIGURE 14AIRCRAFT FUEL CELL MARKET ECOSYSTEM58
5.6TRADE DATA STATISTICS58
TABLE 5TRADE DATA TABLE FOR AIRCRAFT FUEL CELLS58
5.7TECHNOLOGY TRENDS IN AIRCRAFT FUEL CELL MARKET59
5.7.1ADVANCEMENTS IN FUEL CELL TECHNOLOGY59
5.7.2FUEL CELL HYBRID SYSTEMS59
5.7.3UTILIZATION OF ALTERNATIVE FUELS59
5.8CASE STUDY ANALYSIS60
5.8.1ZEROAVIA: HYDROGEN-ELECTRIC AIRCRAFT60
5.8.2BOEING: FUEL-CELL POWERED UAV60
5.8.3AIRBUS: E-FAN X HYBRID-ELECTRIC AIRCRAFT60
5.9TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS60
5.9.1REVENUE SHIFT AND NEW REVENUE POCKETS FOR AIRCRAFT FUEL CELL PRODUCT AND SOLUTION MANUFACTURERS60
FIGURE 15REVENUE SHIFT IN AIRCRAFT FUEL CELL MARKET61
5.10PORTER'S FIVE FORCES ANALYSIS61
TABLE 6AIRCRAFT FUEL CELL MARKET: PORTER'S FIVE FORCES ANALYSIS61
FIGURE 16AIRCRAFT FUEL CELL MARKET: PORTER'S FIVE FORCES ANALYSIS62
5.10.1THREAT OF NEW ENTRANTS62
5.10.2THREAT OF SUBSTITUTES62
5.10.3BARGAINING POWER OF SUPPLIERS63
5.10.4BARGAINING POWER OF BUYERS63
5.10.5INTENSITY OF COMPETITIVE RIVALRY63
5.11KEY STAKEHOLDERS AND BUYING CRITERIA63
5.11.1KEY STAKEHOLDERS IN BUYING PROCESS64
FIGURE 17INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS64
TABLE 7INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS (%)64
5.11.2BUYING CRITERIA65
FIGURE 18KEY BUYING CRITERIA FOR AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS65
TABLE 8KEY BUYING CRITERIA FOR AIRCRAFT FUEL CELL PRODUCTS AND SYSTEMS65
5.12KEY CONFERENCES AND EVENTS IN 2023–202466
TABLE 9AIRCRAFT FUEL CELL MARKET: DETAILED LIST OF CONFERENCES AND EVENTS66
5.13TARIFF AND REGULATORY LANDSCAPE FOR AEROSPACE INDUSTRY67
TABLE 10NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 11EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
TABLE 12ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS69
TABLE 13REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS70
6INDUSTRY TRENDS71
6.1INTRODUCTION71
6.2TECHNOLOGICAL ADVANCEMENTS IN AIRCRAFT FUEL CELLS71
6.2.1HIGH POWER DENSITY OFFERED BY SOLID-OXIDE FUEL CELLS TO EXPAND OPPORTUNITIES IN FUTURISTIC AIR MOBILITY SOLUTIONS71
6.2.2BLOCKCHAIN72
6.2.3HYDROGEN INFRASTRUCTURE DEVELOPMENT72
6.2.4LOW-TEMPERATURE PROTON EXCHANGE MEMBRANE FUEL CELLS72
6.3EMERGING TRENDS IN AIRCRAFT FUEL CELL MANUFACTURING73
6.3.13D PRINTING73
6.3.2BIG DATA74
6.3.3PREDICTIVE MAINTENANCE74
6.4SUPPLY CHAIN ANALYSIS74
FIGURE 19SUPPLY CHAIN ANALYSIS75
6.5USE CASES75
6.5.1AIRBUS DEVELOPS HYBRID COMMERCIAL AIRLINERS RUN BY FUEL CELLS75
6.5.2HYPOINT AND PIASECKI AIRCRAFT CORPORATION: COLLABORATION ON ZERO CARBON-EMISSION HYDROGEN FUEL CELL SYSTEMS FOR EVTOLS76
6.5.3ZEROAVIA AND ALASKA AIRLINES: COLLABORATION ON HYDROGEN-ELECTRIC POWERTRAIN FOR REGIONAL AIRCRAFT76
6.6PATENT ANALYSIS77
TABLE 14INNOVATIONS AND PATENT REGISTRATIONS77
7AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE80
7.1INTRODUCTION81
FIGURE 20AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)81
TABLE 15AIRCRAFT FUEL CELL MARKET FOR HYDROGEN FUEL CELLS, BY FUEL TYPE, 2019–2022 (USD MILLION)81
TABLE 16AIRCRAFT FUEL CELL MARKET FOR HYDROGEN FUEL CELLS, BY FUEL TYPE, 2023–2035 (USD MILLION)81
7.2HYDROGEN FUEL CELLS82
7.2.1PROTON EXCHANGE MEMBRANE FUEL CELLS82
7.2.1.1Favorable characteristics to drive demand for PEM Fuel Cells82
7.2.2SOLID OXIDE FUEL CELLS83
7.2.2.1Potential applications of SOFC in aircraft fuel cells to drive market83
7.2.3OTHERS83
7.3HYDROCARBON FUEL CELLS84
7.3.1VERSATILITY AND EASE OF USE WITH ADVANCEMENTS IN TECHNOLOGY TO DRIVE DEMAND84
7.4OTHERS85
8AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT86
8.1INTRODUCTION87
FIGURE 21AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT, 2023–2035 (USD MILLION)87
TABLE 17AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT, 2019–2022 (USD MILLION)87
TABLE 18AIRCRAFT FUEL CELL MARKET, BY POWER OUTPUT, 2023–2035 (USD MILLION)87
8.210 KW–100 KW88
8.2.1INCREASING DEMAND FOR FUEL CELL SYSTEMS FOR SMALL AIRCRAFT TO DRIVE SEGMENT88
8.3100 KW–1 MW88
8.3.1REQUIREMENT FOR FUEL CELL SYSTEMS FOR LARGER AIRCRAFT TO DRIVE SEGMENT88
8.41 MW & ABOVE88
8.4.1TECHNOLOGICAL ADVANCEMENTS AND HIGH-POWER OUTPUT REQUIREMENTS TO DRIVE DEMAND88
9AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE89
9.1INTRODUCTION90
FIGURE 22AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)90
TABLE 19AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)90
TABLE 20AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)91
9.2FIXED-WING91
9.2.1ONGOING DEVELOPMENTS TO DRIVE FIXED-WING SEGMENT91
TABLE 21FIXED-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2019–2022 (USD MILLION)91
TABLE 22FIXED-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2023–2035 (USD MILLION)92
9.3ROTARY-WING92
9.3.1UNDERDEVELOPMENT PROJECTS, ONCE COMPLETED, TO DRIVE ROTARY-WING SEGMENT92
TABLE 23ROTARY-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2019–2022 (USD MILLION)92
TABLE 24ROTARY-WING: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2023–2035 (USD MILLION)93
9.4UNMANNED AERIAL VEHICLE93
9.4.1EXPANDING CAPABILITIES TO DRIVE DEMAND FOR UNMANNED AERIAL VEHICLES93
9.5ADVANCED AIR MOBILITY93
9.5.1INTEGRATION OF FUEL CELL TECHNOLOGY TO DRIVE MARKET FOR ADVANCED AIR MOBILITY93
TABLE 25ADVANCED AIR MOBILITY: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2019–2022 (USD MILLION)94
TABLE 26ADVANCED AIR MOBILITY: AIRCRAFT FUEL CELL MARKET, BY TYPE, 2023–2035 (USD MILLION)94
10AIRCRAFT FUEL CELL MARKET, BY REGION95
10.1INTRODUCTION96
FIGURE 23AIRCRAFT FUEL CELL MARKET: REGIONAL SNAPSHOT96
TABLE 27AIRCRAFT FUEL CELL MARKET, BY REGION, 2019–2022 (USD MILLION)96
TABLE 28AIRCRAFT FUEL CELL MARKET, BY REGION, 2023–2035 (USD MILLION)97
10.2NORTH AMERICA97
FIGURE 24NORTH AMERICA: AIRCRAFT FUEL CELL MARKET SNAPSHOT98
10.2.1PESTLE ANALYSIS: NORTH AMERICA98
TABLE 29NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)99
TABLE 30NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2023–2035 (USD MILLION)100
TABLE 31NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY HYDROGEN FUEL CELL TYPE, 2019–2022 (USD MILLION)100
TABLE 32NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY HYDROGEN FUEL CELL TYPE, 2023–2035 (USD MILLION)100
TABLE 33NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)100
TABLE 34NORTH AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)101
10.2.2US101
10.2.2.1Presence of leading aircraft fuel cell manufacturers to drive market101
TABLE 35US: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)101
TABLE 36US: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)102
TABLE 37US: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)102
TABLE 38US: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)102
10.2.3CANADA102
10.2.3.1Investments in R&D of new materials to drive market102
TABLE 39CANADA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)103
TABLE 40CANADA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)103
TABLE 41CANADA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)103
TABLE 42CANADA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)104
10.3EUROPE104
10.3.1PESTLE ANALYSIS: EUROPE104
FIGURE 25EUROPE: AIRCRAFT FUEL CELL MARKET SNAPSHOT106
TABLE 43EUROPE: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)106
TABLE 44EUROPE: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2023–2035 (USD MILLION)107
TABLE 45EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)107
TABLE 46EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)107
TABLE 47EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)107
TABLE 48EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)108
10.3.2UK108
10.3.2.1Increase in air travel to drive market108
TABLE 49UK: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)108
TABLE 50UK: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)109
TABLE 51UK: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)109
TABLE 52UK: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)109
10.3.3FRANCE109
10.3.3.1Considerable investments in aerospace systems and components to drive market109
TABLE 53FRANCE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)110
TABLE 54FRANCE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)110
TABLE 55FRANCE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)111
TABLE 56FRANCE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)111
10.3.4GERMANY111
10.3.4.1Growing investment in aerospace technology and air connectivity to drive market111
TABLE 57GERMANY: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)112
TABLE 58GERMANY: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)112
TABLE 59GERMANY: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)112
TABLE 60GERMANY: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)112
10.3.5REST OF EUROPE113
TABLE 61REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)113
TABLE 62REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)113
TABLE 63REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)113
TABLE 64REST OF EUROPE: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)114
10.4ASIA PACIFIC114
10.4.1ASIA PACIFIC: PESTLE ANALYSIS115
FIGURE 26ASIA PACIFIC: AIRCRAFT FUEL CELL MARKET SNAPSHOT116
TABLE 65ASIA PACIFIC: AIRCRAFT FUEL CELL MARKET, BY COUNTRY, 2019–2022 (USD MILLION)116
TABLE 66ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY COUNTRY, 2023–2035 (USD MILLION)117
TABLE 67ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)117
TABLE 68ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)117
TABLE 69ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)117
TABLE 70ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)118
10.4.2CHINA118
10.4.2.1Large-scale domestic manufacturing to boost market118
TABLE 71CHINA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)118
TABLE 72CHINA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)118
TABLE 73CHINA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)119
TABLE 74CHINA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)119
10.4.3INDIA119
10.4.3.1Rising government focus on military and defense to propel market119
TABLE 75INDIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)119
TABLE 76INDIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)120
TABLE 77INDIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)120
TABLE 78INDIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)120
10.4.4JAPAN120
10.4.4.1Increased demand from air force to support market growth120
TABLE 79JAPAN: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)121
TABLE 80JAPAN: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)121
TABLE 81JAPAN: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)121
TABLE 82JAPAN: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)121
10.4.5AUSTRALIA122
10.4.5.1Increasing demand from airlines to boost market122
TABLE 83AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)122
TABLE 84AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)122
TABLE 85AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)122
TABLE 86AUSTRALIA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)123
10.4.6SOUTH KOREA123
10.4.6.1Rising security concerns from neighboring countries to drive market123
TABLE 87SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)123
TABLE 88SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)123
TABLE 89SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)124
TABLE 90SOUTH KOREA: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)124
10.4.7REST OF ASIA PACIFIC124
TABLE 91REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)124
TABLE 92REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)125
TABLE 93REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)125
TABLE 94REST OF ASIA PACIFIC: AIRCRAFT FUEL CELLS MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)125
10.5REST OF THE WORLD125
10.5.1PESTLE ANALYSIS: REST OF THE WORLD126
FIGURE 27REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET SNAPSHOT127
TABLE 95REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY REGION, 2019–2022 (USD MILLION)128
TABLE 96REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY REGION, 2023–2035 (USD MILLION)128
TABLE 97REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)128
TABLE 98REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)128
TABLE 99REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)129
TABLE 100REST OF THE WORLD: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)129
10.5.2MIDDLE EAST129
10.5.2.1New start-ups to drive market129
TABLE 101MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)129
TABLE 102MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)130
TABLE 103MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)130
TABLE 104MIDDLE EAST: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)130
10.5.3AFRICA130
10.5.3.1Government support to drive market130
TABLE 105AFRICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)131
TABLE 106AFRICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)131
TABLE 107AFRICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)131
TABLE 108AFRICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)131
10.5.4LATIN AMERICA132
10.5.4.1Growing focus on sustainability to drive market132
TABLE 109LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2019–2022 (USD MILLION)132
TABLE 110LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY FUEL TYPE, 2023–2035 (USD MILLION)132
TABLE 111LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2019–2022 (USD MILLION)133
TABLE 112LATIN AMERICA: AIRCRAFT FUEL CELL MARKET, BY AIRCRAFT TYPE, 2023–2035 (USD MILLION)133
11COMPETITIVE LANDSCAPE134
11.1INTRODUCTION134
11.2RANKING OF LEADING PLAYERS, 2023134
FIGURE 28MARKET RANKING OF LEADING PLAYERS IN AIRCRAFT FUEL CELL MARKET, 2023134
11.3MARKET SHARE ANALYSIS, 2023135
FIGURE 29MARKET SHARE OF TOP PLAYERS IN AIRCRAFT FUEL CELL MARKET, 2023135
11.4REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS, 2023136
FIGURE 30REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS IN AIRCRAFT FUEL CELLS MARKET136
11.5COMPETITIVE OVERVIEW137
TABLE 113KEY DEVELOPMENTS BY LEADING PLAYERS IN AIRCRAFT FUEL CELL MARKET BETWEEN 2021 AND 2023137
TABLE 114COMPANY AIRCRAFT TYPE FOOTPRINT138
TABLE 115COMPANY REGION FOOTPRINT139
11.6COMPANY EVALUATION MATRIX140
11.6.1STARS140
11.6.2EMERGING LEADERS140
11.6.3PERVASIVE PLAYERS140
11.6.4PARTICIPANTS140
FIGURE 31AIRCRAFT FUEL CELL MARKET: COMPANY EVALUATION MATRIX, 2023141
11.7COMPANY PRODUCT FOOTPRINT ANALYSIS142
TABLE 116COMPANY FOOTPRINT142
11.8START-UP/SME EVALUATION MATRIX143
11.8.1PROGRESSIVE COMPANIES143
11.8.2RESPONSIVE COMPANIES143
11.8.3DYNAMIC COMPANIES143
11.8.4STARTING BLOCKS143
FIGURE 32AIRCRAFT FUEL CELL MARKET: START-UP/SME EVALUATION MATRIX, 2023144
11.8.5COMPETITIVE BENCHMARKING145
TABLE 117AIRCRAFT FUEL CELL MARKET: DETAILED LIST OF KEY START-UPS/SMES145
11.9COMPETITIVE SCENARIO145
11.9.1DEALS145
TABLE 118DEALS, 2021–2023145
12COMPANY PROFILES154
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
12.1KEY PLAYERS154
12.1.1DOOSAN MOBILITY INNOVATION154
TABLE 119DOOSAN MOBILITY INNOVATION: COMPANY OVERVIEW154
TABLE 120DOOSAN MOBILITY INNOVATION: PRODUCTS OFFERED 154
TABLE 121DOOSAN MOBILITY INNOVATION: DEALS155
12.1.2ZEROAVIA, INC.158
TABLE 122ZEROAVIA, INC.: COMPANY OVERVIEW158
TABLE 123ZEROAVIA, INC.: PRODUCTS OFFERED 158
TABLE 124ZEROAVIA, INC.: DEALS159
12.1.3AIRBUS163
TABLE 125AIRBUS: COMPANY OVERVIEW163
FIGURE 33AIRBUS: COMPANY SNAPSHOT164
TABLE 126AIRBUS: PRODUCTS OFFERED 164
TABLE 127AIRBUS: DEALS165
12.1.4AEROVIRONMENT, INC.167
TABLE 128AEROVIRONMENT, INC.: COMPANY OVERVIEW167
FIGURE 34AEROVIRONMENT, INC.: COMPANY SNAPSHOT168
TABLE 129AEROVIRONMENT, INC.: PRODUCTS OFFERED 168
TABLE 130AEROVIRONMENT, INC.: DEALS169
12.1.5POWERCELL SWEDEN AB170
TABLE 131POWERCELL SWEDEN AB: COMPANY OVERVIEW170
FIGURE 35POWERCELL SWEDEN AB: COMPANY SNAPSHOT171
TABLE 132POWERCELL SWEDEN AB: PRODUCTS OFFERED 171
TABLE 133POWERCELL SWEDEN AB: DEALS172
12.1.6APUS GROUP174
TABLE 134APUS GROUP: COMPANY OVERVIEW174
TABLE 135APUS GROUP: PRODUCTS OFFERED 174
12.1.7UNIVERSAL HYDROGEN CO.175
TABLE 136UNIVERSAL HYDROGEN CO.: COMPANY OVERVIEW175
TABLE 137UNIVERSAL HYDROGEN CO.: PRODUCTS OFFERED 175
TABLE 138UNIVERSAL HYDROGEN CO.: DEALS176
12.1.8INTELLIGENT ENERGY LIMITED178
TABLE 139INTELLIGENT ENERGY LIMITED: COMPANY OVERVIEW178
TABLE 140INTELLIGENT ENERGY LIMITED: PRODUCTS OFFERED 178
TABLE 141INTELLIGENT ENERGY LIMITED: DEALS179
12.1.9EMBRAER181
TABLE 142EMBRAER: COMPANY OVERVIEW181
FIGURE 36EMBRAER: COMPANY SNAPSHOT182
TABLE 143EMBRAER: PRODUCTS OFFERED 182
TABLE 144EMBRAER: DEALS183
12.1.10GKN AEROSPACE SERVICES LIMITED184
TABLE 145GKN AEROSPACE SERVICES LIMITED: COMPANY OVERVIEW184
TABLE 146GKN AEROSPACE SERVICES LIMITED: PRODUCTS OFFERED 184
TABLE 147GKN AEROSPACE SERVICES LIMITED: DEALS185
12.1.11HYPOINT INC.186
TABLE 148HYPOINT INC.: COMPANY OVERVIEW186
TABLE 149HYPOINT INC.: PRODUCTS OFFERED 186
TABLE 150HYPOINT INC.: DEALS187
12.1.12PIASECKI AIRCRAFT CORPORATION188
TABLE 151PIASECKI AIRCRAFT CORPORATION: COMPANY OVERVIEW188
TABLE 152PIASECKI AIRCRAFT CORPORATION: PRODUCTS OFFERED 188
TABLE 153PIASECKI AIRCRAFT CORPORATION: DEALS189
12.1.13H3 DYNAMICS190
TABLE 154H3 DYNAMICS: COMPANY OVERVIEW190
TABLE 155H3 DYNAMICS: PRODUCTS OFFERED 190
TABLE 156H3 DYNAMICS: DEALS192
12.1.14PLUG POWER INC.193
TABLE 157PLUG POWER INC.: COMPANY OVERVIEW193
FIGURE 37PLUG POWER INC.: COMPANY SNAPSHOT193
TABLE 158PLUG POWER INC.: PRODUCTS OFFERED 194
12.1.15AVIO AERO195
TABLE 159AVIO AERO: COMPANY OVERVIEW195
TABLE 160AVIO AERO: PRODUCTS OFFERED 195
12.2OTHER PLAYERS196
12.2.1FUEL CELL STORE196
12.2.2FLYKA197
12.2.3HONEYWELL INTERNATIONAL INC.197
12.2.4SHANGHAI PEARL HYDROGEN ENERGY TECHNOLOGY CO., LTD.198
12.2.5URBAN AERONAUTICS LTD.198
12.2.6PIPISTREL D.O.O.199
12.2.7ALAKA’I TECHNOLOGIES199
12.2.8AERODELFT200
12.2.9ACCELERA200
12.2.10SFC ENERGY AG201
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
13APPENDIX202
13.1DISCUSSION GUIDE202
13.2KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL206
13.3CUSTOMIZATION OPTIONS208
13.4RELATED REPORTS208
13.5AUTHOR DETAILS209
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