Zero-Emission Aircraft Global Market 2024 To Reach $44.01 Billion By 2028 At Rate Of 15.8%
The Business Research Company's Zero-Emission Aircraft Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, August 7, 2024 /EINPresswire.com/ -- The zero-emission aircraft market has experienced robust growth in recent years, expanding from $20.82 billion in 2023 to $24.5 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to environmental regulations, advancements in electric propulsion, increased concerns about climate change, public awareness and pressure, demonstration projects.
Strong Future Growth Anticipated
The zero-emission aircraft market is projected to continue its strong growth, reaching $44.01 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to market demand for sustainable travel, government funding for green aviation, transition to urban air mobility, global air travel recovery, standardization of regulations, emergence of sustainable aviation fuels.
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Growth Driver Of The Zero-Emission Aircraft Market
The increasing stringency of the emission regulations is expected to propel the growth of the zero-emission aircraft market going forward. Stringency on aircraft emission regulations refers to the degree of strictness or severity of rules and policies that aim to decrease greenhouse gas emissions and other harmful substances that originate from aircraft. Zero-emission aircraft propulsion systems produce no emissions during operation due to hydrogen-powered engines, including greenhouse gases and other harmful pollutants.
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Major Players And Market Trends
Key players in the zero-emission aircraft market include AeroDelft, Airbus SE, Bye Aerospace, Eviation Aircraft, Joby Aviation, Lilium GmbH, Wright Electric, Boeing Company, Northrop Grumman Corporation.
Major companies operating in the zero-emission aircraft market are adopting a strategic partnership approach aiming to investigate possible applications for superconducting technologies. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
Segments:
1) By Type: Turboprop Rear Bulkhead, Turbofan System, Blended Wing Body
2) By Source: Hydrogen, Electric, Solar
3) By Range: Short-Haul, Medium-Haul, Long-Haul
4) By Technology: Electric Motor Technology, Fuel Cell Technology, Hydrogen Fuel Storage, Power Management And Distribution Technology, Other Technology
5) By Application: Passenger Aircraft, Cargo Aircraft
Geographical Insights: Europe Leading The Market
Europe was the largest region in the zero-emission aircraft market in 2023. The regions covered in the zero-emission aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Zero-Emission Aircraft Market Definition
Zero-emission aircraft refers to aircraft that produce no greenhouse gas emissions during operation, such as carbon dioxide or methane. A zero-emission aircraft provides a sustainable alternative to conventional aircraft, reducing air travel's carbon footprint.
Zero-Emission Aircraft Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Zero-Emission Aircraft Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on zero-emission aircraft market size, zero-emission aircraft market drivers and trends, zero-emission aircraft market major players, zero-emission aircraft competitors' revenues, zero-emission aircraft market positioning, and zero-emission aircraft market growth across geographies. The zero-emission aircraft market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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