The Motors Segment Dominated the Hybrid-electric Market Size Aircraft Market in 2021
The Global Hybrid-electric Aircraft Market Size was estimated at USD 12.9 billion in 2022 and is anticipated to reach around USD 30 billion by 2030, growing at a CAGR of roughly 17% between 2022 and 2030.
CMI research report offers a 360-degree view of the Hybrid-electric Aircraft Market Size Aircraft market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Hybrid-electric Aircraft Market Size market.
Hybrid Electric Aircraft Market: Overview
In hybrid electric technology, the propulsion system is powered by both electricity and jet fuel. This technique helps minimize fuel burn, energy consumption, pollutants, and noise for single-aisle passenger aircraft. The two types of power sources accessible for hybrid propulsion are solar and fuel-powered systems.
Browse the full “Hybrid Electric Aircraft Market Size, Trends and Insights By Components (Batteries, Motors, Others), By Application (Commercial, Military), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/hybrid-electric-aircraft-market/
Growth Factors
Propellers, fuel-powered engines, and batteries are all used in Hybrid-electric aircraft. It occasionally combines traditional jet engines with electrically propelled propellers. This particular class of electric aircraft allows for a design that is not feasible with just fuel-powered engines. It allows for silent vertical takeoffs and landings. It also has many electric propellers, which aid in effective aerodynamics.
Original equipment manufacturers (OEM) and designers are driven by the urgent need to move the aircraft industry toward a power-driven future to market all-electric versions of airplanes. Additionally, it considerably lowers fuel costs, saving the aircraft sector costs.
These market estimates are anticipated to climb even more due to a significant expansion in the size of the global aircraft fleet and air travel. Therefore, there has been a persistent and urgent need for electric and Hybrid-electric aircraft, which will aid in lowering the aviation industry’s carbon impact.
Additionally, given that they predict that the number of emissions produced by aircraft to more than triple by 2050, international organizations and governing bodies like the International Civil Aviation Organization, the Federal Aviation Administration, and the European Union Aviation Safety Agency have called for discussions about sustainable alternatives to aviation fuel.
Electric engines produce little or no airplane noise since they lack the noise connected to jet or combustion engines. By swapping out hydraulically controlled systems with electric systems in an electric airplane, the manufacturers hope to increase efficiency and creativity.
Segmental Overview
The global market for Hybrid-electric aircraft is divided into categories based on its components, including electric motors, batteries, and others. Electric motors are used more frequently because of their many advantages, including fewer maintenance requirements and superior performance.
Electric motors are extremely reliable since they have few moving components and require little maintenance. The design is straightforward, and friction between moving parts doesn’t waste any energy. This function increases electric motor efficiency.
Revenue in the aircraft battery segment is anticipated to expand significantly throughout the projection period. Lead-acid and nickel-cadmium are typically used in aviation batteries for the plates (NiCd). Technology-advanced and economically advantageous are lead-acid batteries. These offer various sizes and specifications, a high current capacity, and tolerance for overcharging and overuse, among other benefits.
Additionally, this battery is widely accessible because numerous companies make it. Using NiCd batteries has several additional benefits, such as an easy production process and a longer life cycle. Further, lead-acid batteries cannot compete with their higher specific energy and superior pulse power performance.
Regional Overview
During the projected period, North America is anticipated to lead the global Hybrid-electric aircraft market. The region is investing heavily in the research and development of next-generation aircraft, which will likely increase demand for electric and Hybrid-electric aircraft propulsion systems in the coming years.
| Feature of the Report | Details |
| Market Size in 2023 | USD 17.33 Billion |
| Projected Market Size in 2032 | USD 30 Billion |
| Market Size in 2022 | USD 12.9 Billion |
| CAGR Growth Rate | 17% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Components, Application, By Type, By Technology, By End-Use and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Competitive Landscape/ Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Hybrid-electric Aircraft market. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.
- 2022: Under the recently established Low-Emission Aviation Program, the National Research Council of Canada is extending research with its Cessna 337G Skymaster Hybrid-Electric Aircraft Propulsion Testbed into new areas.
- 2022: The first ground test of Raytheon Technologies‘ innovative hybrid-electric engine was successfully completed, according to the American aerospace and defense giant. The engine will be installed in a De Havilland Canada Dash 8 demonstrator plane, with the first test flight planned for 2024.
Some of the prominent players
- Airbus S.A.S.
- Cranfield Aerospace Solutions
- Boeing
- General Electric Company
- Honeywell International Inc.
- GKN Aerospace Services Limited
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corporation
- Rolls-Royce Holdings plc.
- Safran S.A.
- MagniX
- Siemens AG
- Leonardo S.p.A
- Raytheon Technologies Corporation
- Others
The global Hybrid-electric Aircraft market is segmented as follows:
By Components
- Batteries
- Motors
- Others
By Application
- Commercial
- Military
By Type
- Rotastat Hybrid Aircrafts
- Dynastat Hybrid Aircrafts
By Technology
- Manned Hybrid Aircrafts
- Unmanned Hybrid Aircrafts
By End-Use
- Manned Hybrid Aircrafts
- Unmanned Hybrid Aircrafts
By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America