Scope of the Study
The global aircraft fuel cell market is expected to grow at a sluggish growth rate during the forecast period according to the AMA study. This is owing to the current aviation industry crisis due to the coronavirus pandemic across the world. The aviation industry is expected to witness reduction in revenue of approximately USD 63-113 billion in 2020. The aircraft fuel cell technologies are now being used in general aviation airplanes and other small sized aircraft. The demand for fuel cells for commercial aircraft is still not developed fully. Therefore, the growth of this market is expected to decline for the next few years of the forecast period.
The market study is being classified by Type (Hydrogen Fuel Cells, Methanol Fuel Cells, Solid Oxide Fuel Cells, Polymer Electrolyte Membrane Fuel Cells and Others), by Application (Commercial and Military) and major geographies with country level break-up.
Ballard Power Systems (Canada), Boeing (United States), Airbus (France), Hydrogenics (Canada), NUVERA FUEL CELLS, LLC (United States), EnergyOR, a Plug Power company†(Canada), ZeroAvia, Inc. (United States), FFC, Inc. (United States), Safran (France), CJ Aerospace (Australia), Eagle Fuel Cells-ETC Inc. (United States), Eagle Manufacturing Corp (United States), Hartwig Aircraft Fuel Cell Repair (United States) and HES Energy Systems (Singapore) are some of the key players profiled in the study.
The vendors in this market are focusing on delivering innovative solutions for aviation OEMs and trying to reduce the growing carbon emissions due to fossil fuels. The market for aircraft fuel cells is moderately consolidated as there are not many vendors in this industry and the product is new to the industry for application and is still in its development phase for commercial aircraft models. Moreover, the companies in this market are also testing new technologies that can be implemented in the challenging infrastructure of the current aviation industry in the future. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Fuel Cells market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Aircraft Fuel Cells market by Type, Application and Region.
On the basis of geography, the market of Aircraft Fuel Cells has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand to Reduce Aircraft Carbon Emissions Owing to Rising Aircraft Carbon Emissions
- Increasing Global Aircraft Sales & Fleet Propelled by Rising Passenger Traffic
- Increasing Government Fundings for the Development of Hydrogen Fuel Cells
- Growing Adoption of Military UAVs Propelled by Increasing Global Defense Expenditure
- Rising Adoption of Hydrogen Fuel Cell Technologies Across Aviation Industry
- Development of Fuel Cell Powered Aircraft for Aviation Sports
- Strong Negative Impact of COVID-19 Outbreak in the Aviation Industry is Expected to Reduce the Adoption of Technology Among the End Users due to Slow Down of Industry Investments
- Introduction of Zero-Emission Hydrogen Fuel Cell-Powered Aircraft will Create Huge Opportunity for Vendors to Expand their Business in General Aviation & Military Aircraft Categories
- Implementation of Fuel Cells in UAVs Propelled by Growing Demand for Long-Range Military UAVs
- Challenges in Identifying Leaks in Hydrogen Fuel Tanks
- Challenges in Replacement of Existing Aviation Infrastructure
- High Cost of Hydrogen Fuel Cells
In August 2019, ZeroAvia launched a new hydrogen fuel cell powertrain for the aviation industry which aims to deliver the same performance as a conventional aircraft engine. Moreover, in December 2018, Hydrogenics announced that it has been selected to design and supply fuel cell power modules for a new lightweight aircraft that is being manufactured by an undisclosed customer due to competitive reasons.
In April 2019, The European Commission defined a set of environmental goals for the Flight Path 2050 which aims 75% CO2 reduction, 90% NOx reduction, and 65% perceived noise reduction.
The fuel cell is a new technology to the market which is being considered as a replacement for existing traditional fuel cells across the aviation industry. Currently, the fuel cell is being applied to small sized aircraft with lower ranges such as UAVs or generl aviation aircraft models. Moreover, the market for fuel cells is also boosted by rising adoption of air-taxis in different countries, adoption of delivery drones, and introduction of ambulance drones. But, according to the recent market scenario the market is expected to witness a slowdown in the growth as the aviation sector is facing a huge economical crisis along with its supporting marketís crisis which has let the industry to witness a huge economic loss as the demand for air travel is dumped to zero at the moment.
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