The Global Hybrid Aircraft Market Size was valued at USD 1.07 Billion in 2022 and the Worldwide Hybrid Aircraft Market Size is expected to reach USD 27.2 Billion by 2032, According to a research report published by Spherical Insights & Consulting. Companies Covered:Airbus SE, Embraer Textron Inc., ZeroAvia , Ampaire Inc., Pipistrel Group, Aerospace Limited, Yuneec Holding Limited, Leonardo S.p.A., Faradair Aerospace Limited, Boeing, Digisky S.R.L., Groupe Gorge, Others And other key venders
New York, United States , Nov. 21, 2023 (GLOBE NEWSWIRE) — The Global Hybrid Aircraft Market Size is to Grow from USD 1.07 Billion in 2022 to USD 27.2 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 38.2% during the projected period. Increasing environmental regulations, rising fuel costs, and a global push for greener transportation solutions are among the factors driving market growth in this sector.
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Hybrid aircraft, also known as hybrid-electric aircraft, combine the benefits of traditional aviation technologies with emerging advances in electric propulsion to improve fuel efficiency, reduce emissions, and increase operational flexibility. This novel approach aims to address aviation’s pressing environmental and energy efficiency issues. The global hybrid aircraft market is a rapidly evolving aviation sector that combines traditional combustion engines with electric propulsion systems. Traditional internal combustion engines (typically powered by aviation fuels) are combined with electric motors powered by batteries or fuel cells in hybrid aircraft. This configuration enhances operational efficiency during flight phases such as takeoff, cruise, and landing. Hybrid aircraft use electric power sources to reduce noise and emissions, making them a promising solution for both commercial and military applications. Battery technology, electric motors, and power management systems are all helping to improve hybrid aircraft feasibility and performance. As battery energy density improves, hybrid aircraft will be able to fly for longer distances and produce more power, potentially expanding their applications.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on “Global Hybrid Aircraft Market Size, Share, and COVID-19 Impact Analysis, By Aircraft Type (Regional Transport Aircraft, Business Jets, Light Aircraft, UAVs, AAM), By Power Source (Fuel Hybrid, Hydrogen Hybrid), By Lift Technology (CTOL, STOL, VTOL), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The AAM segment is expected to account for the largest share of the global hybrid aircraft market during the forecast period.
The global hybrid aircraft market is divided into regional transport aircraft, business jets, light aircraft, unmanned aerial vehicles (UAVs), and AAM. The AAM segment is projected to have the greatest share of the global hybrid aircraft market throughout the forecast period. Congestion in urban areas is causing significant investment and development in the AAM segment.
The hydrogen hybrid segment is expected to hold the largest share of the global hybrid aircraft market during the forecast period.
The global hybrid aircraft market is divided into two segments based on power source: fuel hybrid and hydrogen hybrid. The hydrogen hybrid segment is projected to account for the majority of the global hybrid aircraft market throughout the forecast period. The primary power source in hydrogen hybrid configurations is hydrogen fuel cells, with battery-electric backup. Hydrogen fuel cells generate electricity by combining hydrogen and oxygen, with the only byproduct being water vapor.
The CTOL segment is expected to hold the largest share of the global hybrid aircraft market during the forecast period.
The global hybrid aircraft market is divided into three categories based on lift technology: CTOL, STOL, and VTOL. The CTOL segment is projected to account for the majority of the global hybrid aircraft market during the forecast period. CTOL hybrid aircraft are designed to operate from conventional runways, taking off and landing just like traditional aircraft.
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North America is anticipated to hold the largest share of the global hybrid aircraft market over the predicted timeframe.
North America, particularly the United States, has been at the forefront of hybrid aircraft development due to its strong aerospace industry, research capabilities, and active investments in sustainable aviation solutions. The region has invested heavily in commercial and military hybrid aircraft applications, as well as urban air mobility concepts.
During the forecast period, Europe is projected to grow at the fastest rate in the global hybrid aircraft market. The European Union’s emphasis on lowering aviation emissions has sparked considerable interest in hybrid aircraft technology. Several European countries have provided funding for electric and hybrid-electric aviation research and development.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hybrid Aircraft Market include Airbus SE, Embraer, Textron Inc., ZeroAvia, Ampaire Inc., Pipistrel Group, Aerospace Limited, Yuneec Holding Limited, Leonardo S.p.A., Faradair Aerospace Limited, Boeing, Digisky S.R.L., Groupe Gorge, and Others.
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- In June 2023, Airbus and STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, have agreed to collaborate on power electronics R&D to support more efficient and lighter power electronics, which are required for future hybrid-powered aircraft and full-electric urban air vehicles.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Hybrid Aircraft Market based on the below-mentioned segments:
Global Hybrid Aircraft Market, By Aircraft Type
- Regional Transport Aircraft
- Business Jets
- Light Aircraft
Global Hybrid Aircraft Market, By Power Source
- Fuel Hybrid
- Hydrogen Hybrid
Global Hybrid Aircraft Market, By Lift Technology
Global Hybrid Aircraft Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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