Hydrogen aircraft rely on hydrogen as fuel for long flights with zero carbon emissions. Hydrogen stored onboard is converted to electricity through a fuel cell to power the aircraft. Hydrogen aircraft offer a clean, sustainable and economical mode of air transportation as hydrogen fuel cells produce only water and heat.

The global hydrogen aircraft market is estimated to be valued at US$ 6.73 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising investments in hydrogen infrastructure are expected to drive the growth of hydrogen aircraft market over the coming years. Major aircraft manufacturers are collaborating with hydrogen technology providers and investors to build hydrogen refueling infrastructure at airports. For instance, ZeroAvia, a UK-based hydrogen-electric aviation company, partnered with Mitsubishi Heavy Industries to develop 10-seater hydrogen aircraft and establish hydrogen refueling stations across Japan and UK by 2030. Such initiatives are encouraging the adoption of hydrogen aircraft technology. However, high costs associated with the development of hydrogen-powered aircraft remain a challenge for wider commercialization in the near future.

Segment Analysis
The global hydrogen aircraft market is dominated by the commercial aircraft sub-segment. This is because commercial hydrogen aircrafts have the potential to significantly reduce operating costs and environmental impact compared to traditional aircraft that run on conventional jet fuel. Hydrogen fuel has a higher specific energy content than conventional jet fuel, which allows commercial aircraft to travel longer distances without refueling. This improves efficiency and reduces carbon emissions from the aviation industry.

Key Takeaways
The Global Hydrogen Aircraft Market Size is expected to witness high growth over the forecast period as efforts to decarbonize the aviation sector intensify.

Regional analysis: The North America region currently dominates the global hydrogen aircraft market and is expected to witness the highest growth during the forecast period. This is due to increasing investment by aircraft manufacturers like Boeing in developing hydrogen-powered aircraft technology. The region is also home to innovators like ZeroAvia which are conducting test flights of hydrogen-electric aircraft. Additionally, the presence of prominent research organizations supporting the development of hydrogen infrastructure is driving the market in this region.

Key players operating in the hydrogen aircraft market are Arkema Group, Asahi Kasei Corporation, BASF SE, Celanese Corporation, Covestro, DSM N.V., Dupont, Lanxess, LG Chem., Mitsubishi Engineering-Plastics Corporation, Saudi Basic Industries Corporation (Sabic), Solvay SA, Teijin, Toray, and Victrex Plc.

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