Hydrogen Aircraft Market worth $7,427 M by 2030 – markets and markets. According to a research report “Hydrogen Aircraft Market by Power Source (Hydrogen Combustion, Hydrogen Fuel Cell), Platform (Unmanned Aerial Vehicles, Air Taxis, and Business Jets), Range, Passenger Capacity, Technology, and Region – Global Forecast to 2030”, published by MarketsandMarkets™, the Hydrogen Aircraft Market is estimated to be USD 143 million in 2020 and is projected to reach USD 7,427 million by 2030, at a CAGR of 28.9% from 2025 to 2030.
Recent technological advancements in propulsion systems, fuel cells, improving fuel efficiency, cryogenic storage, hydrogen fuel extraction, and aircraft structural design specifically for hydrogen powered aircraft have defined the era of hydrogen powered aircraft.
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Further improvements are expected as aircraft OEMs are increasingly collaborating or are part of alliances globally that aim to develop sustainable hydrogen aircraft technology. New startups are further propelling the developments in the market as they develop new concepts related to aircraft applications such as urban air mobility, surveillance, defense, etc.
The increasing emphasis on developing new eco-friendly transportation systems has also prompted the governments and regional unions such as the European Union (EU) to support these developments in the form of funds or assistance in developing the hydrogen aircraft industry ecosystem.
Hydrogen Aircraft Market worth $7,427 million by 2030 – Exclusive Report by MarketsandMarkets™, New York April 28, 2021
