The global hydrogen aircraft market was valued at USD 533.29 million in 2023 and is expected to expand significantly, reaching USD 610.09 million in 2024 and USD 5,122.48 million by 2032. This growth reflects an impressive compound annual growth rate (CAGR) of 30.47% during the forecast period. In 2023, Europe led the hydrogen aircraft market, holding a substantial market share of 39.26%.

A hydrogen aircraft is an aircraft that utilizes hydrogen as a power source and fuel for various functions. The usage of hydrogen fuel cells for hydrogen aircraft is proliferating market growth. From an environmental standpoint, hydrogen fuel cells could provide a zero-emission option to traditional jet engines through the production of only water vapor. This helps to achieve global goals for decreasing the carbon footprint of aviation.

The COVID-19 pandemic created opportunities for sustainable fuel as the aviation sector’s significant carbon footprint was taken into consideration. Although, the market faced hurdles due to substantial cost of hydrogen infrastructure.

Fortune Business Insights™ provides this information in its research report, titled “Hydrogen Aircraft Market, 2025-2032”.

List of Key Players Mentioned in the Report:

• Airbus (Netherlands)
• Bell Textron Inc. (U.S.)
• The Boeing Company (U.S.)
• Embraer (Brazil)
• GKN Aerospace (U.K.)
• Honeywell International Inc. (U.S.)
• Rolls Royce (U.K.)
• Safran SA (France)
• Urban Aeronautics Ltd (Israel)
• ZeroAvia, Inc. (U.S.)

Information Source:

https://www.fortunebusinessinsights.com/hydrogen-aircraft-market-108161

Segmentation: Hydrogen Aircraft Market