What is Aircraft Fuel Cells Market?
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.
Highlights from Aircraft Fuel Cells Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 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) |
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 forecasted period.
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. Aircraft Fuel Cells Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Commercial and Military |
Type | Hydrogen Fuel Cells, Methanol Fuel Cells, Solid Oxide Fuel Cells, Polymer Electrolyte Membrane Fuel Cells and Others |
End Use | Original Equipment Manufacturers,Aftermarket |
Aircraft | Commercial Aircraft,Military Aircraft,Regional Aircraft,General Aviation,UAVs |
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.
Influencing Trend:
Rising Adoption of Hydrogen Fuel Cell Technologies Across Aviation Industry and Development of Fuel Cell Powered Aircraft for Aviation Sports
Market Growth Drivers:
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 and Growing Adoption of Military UAVs Propelled by Increasing Global Defense Expenditure
Challenges:
Challenges in Identifying Leaks in Hydrogen Fuel Tanks, Challenges in Replacement of Existing Aviation Infrastructure and High Cost of Hydrogen Fuel Cells
Restraints:
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
Opportunities:
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 and Implementation of Fuel Cells in UAVs Propelled by Growing Demand for Long-Range Military UAVs
Key Target Audience
Government Agencies, Aircraft Fuel Cells Company, Government regulatory authorities, End User Industry, Customer and Others
Market Leaders & Development Strategies
In October 2022, ZeroAvia acquires fuel cell stack innovator HyPoint US-based company HyPoint is focused on supercharging the power output and energy density of fuel cells. The acquisition adds this advanced high-temperature fuel cell technology to ZeroAvia’s efforts in developing the full powertrain to enable hydrogen-electric flight.
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.
Analyst Comment
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 market’s 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.