What is Hybrid Aircraft Market?
Hybrid aircraft is defined as the powerful aircraft that has fixed wings. It is particularly appropriate for long endurance flights. It is mostly used in heavy lift applications. Although, during take-off or climb, these hybrid aircraft needs a large amount of power and this extra power requirement can be added by energy, which is produced from turbine generators. It is designed with lifting body and fixed wings. It requires forward flight in order to the aerodynamic lift type. The extreme competition between nations to develop advanced aircraft, cumulative research and development investments for development of hybrid aircraft and rising demand for hybrid aircraft in defense is likely to be a prime driver of the global hybrid aircraft market.The global hybrid aircraft market to grow at a CAGR of 11.2% during the period 2018-2022.
Highlights from Hybrid Aircraft Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | The Boeing Company (United States), ILC Dover (United States), Hybrid Air Vehicles Ltd. (United Kingdom), Egan Airships (United States), Lockheed Martin Corporation (United States), Straightline Aviation (United Kingdom), AUGUR-RosAero Systems (Russia), Aeros Corp (United States), Airbus SE (Netherlands) and Solar Ship Inc. (Canada) |
Hybrid Aircraft market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Hybrid Aircraft market throughout the forecasted period.
The Boeing Company (United States), ILC Dover (United States), Hybrid Air Vehicles Ltd. (United Kingdom), Egan Airships (United States), Lockheed Martin Corporation (United States), Straightline Aviation (United Kingdom), AUGUR-RosAero Systems (Russia), Aeros Corp (United States), Airbus SE (Netherlands) and Solar Ship Inc. (Canada) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are AeroVehicles Inc (United States), Northrop Grumman Corporation (United States), Lindstrand Technologies (United Kingdom) and AeroVehicles Inc (United States). Hybrid Aircraft Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Commercial Tours, Surveillance, Research, Cargo Transport and Others |
Type | Dynastats and Rotastats |
Technology | Manned Hybrid Aircraft,Unmanned Hybrid Aircraft |
On the basis of geography, the market of Hybrid Aircraft 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.
Influencing Trend:
Technology Advancement of the Hybrid Aircraft and Increasing Demand for Unmanned Hybrid Aircraft in Military and National Security Project
Market Growth Drivers:
Rise in Geo-Political Tensions between Countries, Government Initiative towards Hybrid Aircraft and Increasing Usage of Manned Operated Aircrafts for Commercial Tours and Surveillance
Challenges:
High Prices of Hybrid Aircraft Products
Restraints:
ICE Limitation For Instance Limiting the Descent Rate of Aircraft
Opportunities:
Increasing Demand from Emerging Economics Such as India, China and Others
Key Target Audience
Manufacturers of Hybrid Aircraft, Suppliers of Hybrid Aircraft, Wholesalers, distributors and retailers of Hybrid Aircraft, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
Market Leaders & Development Strategies
In January 2022, Locked Martin Backs Hybrid Electric Estol Aircraft developer Electra. The capital contributed by the venture capital arm of the U.S. defense and aerospace giant will support the Virginia-based start-up’s plans to begin flight testing a technology demonstrator this year.
In March 2023,Lockheed Martin Ventures Invests in Electric Motor Company H3X. H3X Technologies, a developer and manufacturer of electric motors for aircraft.H3X is developing a series of electric motors ranging from 30 kW to 3MW that the company and says are unparalleled in performance in terms of specific power and efficiency.