About Hybrid Electric Jet
Hybrid electric jet runs on both types of engines such as electric motor and electric engine. It has been observed that hybrid electric jet can reduce up to 80% of emission, saves fuel and reduce noise pollution. For instance, according to United Technologies Corp., a hybrid electric solution has achieved more than 30% of fuel saving. These advantages, rising environmental concern, and increasing fuel costs across the globe are the key drivers for the market. Additionally, government rules and regulation to reduce carbon footprint and noise pollution are supplementing the market. However, ICE limitation such as limiting the descent rate and high cost of lithium batteries and long charging time are the factors that have been limiting the growth of the market. Moreover, increasing defense funding and expansion of commercial aviation and increasing investment for research and development activities are expected to create a big opportunity for the market in the coming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 46.23% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Manufacturers having a strong hold in the market are Zunum Aero, Boeing HorizonX, Uber Technologies Inc., JetBlue Technology Ventures, Airbus SE. Analyst at AMA Research estimates that United States and European Manufacturers will contribute the maximum growth to Global Hybrid Electric Jet market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zunum Aero (United States), Boeing HorizonX (United States), Uber Technologies Inc (United States), JetBlue Technology Ventures (United States), Siemens AG (Germany), Airbus SE (Netherlands), Rolls Royce (United Kingdom) and Lilium (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are EasyJet Ltd. (United Kingdom) and Wright Electric. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hybrid Electric Jet market by and Region.
On the basis of geography, the market of Hybrid Electric Jet 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 Jet Type, the sub-segment i.e. Business Jet will boost the Hybrid Electric Jet market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Size , the sub-segment i.e. Light Jet will boost the Hybrid Electric Jet market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Battery Type, the sub-segment i.e. Lead–Acid will boost the Hybrid Electric Jet market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Electric Motor Powered Type, the sub-segment i.e. Batteries will boost the Hybrid Electric Jet market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Defense Funding and Expansion of Commercial Aviation
Market Growth Drivers:
Rising Environmental Concern due to Air Pollution and Noise Pollution and Increasing Fuel Costs across the Globe
Challenges:
High Cost of Lithium Batteries and Long Charging Time
Restraints:
ICE limitation such as Limiting the Descent Rate
Opportunities:
Government Rules and Regulation to Reduce Carbon Foot Print and Noise Pollution and Increasing Investment for Research and Development Activities
Market Leaders and their expansionary development strategies
In November 2020, Hybrid-Electric Propulsion Developer Ampaire Acquired Magpie Aviation. these will help it further develop Magpie’s solution, as well as its proprietary propulsion system.
In SAMAD aerospace, the British hybrid electric VTOL aviation company, has launched “its concept” for Q-Starling, a high-end Personal Air Vehicle (PAV), reports aviationpros.com. The Q-Starling takes elements from both fast jets and VTOL aircraft. The company describes it as “an innovative modern design” and “a new pinnacle in future sustainable aircraft.”
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.