Global Aircraft Fuel Cells Market Overview:
An aircraft fuel cell is an electrochemical cell that converts chemical energy into electrical energy with the help of redox reactions and supplies power to different aircraft units for operation. The global aircraft fuel cell market is expected to grow at a significant pace during the forecast period according to the AMA study. This is owing to the growing demand to reduce carbon emissions owing to rising emissions by the aviation industry, increasing global aircraft fleet propelled by rising passenger traffic, and growing adoption of UAVs propelled by rising military spendings. Furthermore, the adoption of aircraft fuel cells is also boosted by the introduction of ambulance drones, air-taxis, and delivery drones. Some of the key players profiled in the study are 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).
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). If we see Market by End Use, the sub-segment i.e. Original Equipment Manufacturers will boost the Aircraft Fuel Cells market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Aircraft, the sub-segment i.e. Commercial Aircraft will boost the Aircraft Fuel Cells market. 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
- 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
Major Market Developments:
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 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.
Major Objectives Focused through this Study
To define, describe, and forecast the Global Aircraft Fuel Cells market on the basis of product [Hydrogen Fuel Cells, Methanol Fuel Cells, Solid Oxide Fuel Cells, Polymer Electrolyte Membrane Fuel Cells and Others] , application [Commercial and Military], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Aircraft Fuel Cells market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Aircraft Fuel Cells industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Aircraft Fuel Cells market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.