Global Hybrid Aircraft Market Size 2022 : Industry Analysis, Share, Segmentation, Price Trends, Regional Analysis and Forecast 2028

SUITE N202, NEW YORK, UNITED STATES, January 6, 2023 /EINPresswire.com/ -- The global Hybrid Aircraft market was worth around USD 839.50 million in 2021 and is estimated to grow to about USD 1392.496373 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.80 percent over the forecast period. The report analyzes the Hybrid Aircraft market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Hybrid Aircraft market.

Increasing defence spending in advanced and emerging economies is being used to produce advanced aircraft. As geopolitical tensions rise, countries strengthen countermeasures to combat any attack from hostile groups, and advancements in the aviation industry fuel demand for hybrid aircrafts during the forecast period. Aside from their extensive use in warfare, hybrid aircrafts are also used for humanitarian missions. Owing to the rise in demand of EGRC, the global Hybrid Aircraft market is estimated to grow at a CAGR of 13.50% during the forecast period.

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The use of battery-powered aircrafts is becoming more popular. Hybrid aircrafts not only save fuel, but they have also been shown to significantly reduce gas emissions. With the growing need for energy conservation and environmental protection, hybrid aircrafts are ideal for adhering to the sustainable development agenda. Considerable research in this field suggests that the market will grow during the forecast period. The hybrid aircraft market will benefit from an increase in demand for energy conservation and environmental protection, as well as the adoption of electric propulsion technologies.

The Hybrid Aircraft market is segregated based on Component, Technology, Application, Platform and System. Based on Components, the global market is distinguished into Batteries, Fuel Cells, Solar Cells, Electric Actuators, Electric Pumps, Generators, Motors, Power Electronics and Distribution Devices. The batteries segment dominates the market. Based on Technology, the market is bifurcated into More Electric, Hybrid Electric and Fully Electric. The hybrid electric segment is expected to lead over the forecast period. As per Application, the market is segmented into Power Generation, Power Distribution, Power Conversion, Energy Storage

Global Hybrid Aircraft Market

Based on Platform, the market is segmented into Fixed Wing, Rotary Wing and Unmanned Aerial Vehicles (UAVs) and Advanced Air Mobility. The UAV segment is expected to lead over the forecast period. Based on System, the market is segregated into Propulsion System, Environmental Control System, Landing Gear System, Ice Protection System, Flight Control System and Thrust Reverser System. The Propulsion systems are expected to lead over the forecast period. Based on Business Functions the market is segregated into Finance, IT, Legal and Operation in which finance business function will lead the market over the Forecast period. Based on End user the market is divided into BFSI, Telecommunication, Energy and Utility, Government, Healthcare, Manufacturing, Mining and Natural Resources, Retail and Consumer Goods, IT, Transportation and Logistics and Others (Construction and Engineering, Academia, Media and Entertainment, Oil and Gas, and Tourism and Hospitality). The healthcare segment contributes massively towards the overall EGRC share.

North America is expected to lead the global hybrid aircraft market during the forecast period. The region's next-generation aircraft research and development is accelerating, which will likely increase demand for hybrid aircraft propulsion systems in the coming years. Additional factors influencing the growth of the North American aircraft electrification market include the increasing number of upcoming projects and the emergence of several startups supporting electrification in the aviation industry. Increased terrorism and a growing economy are expected to propel Asia Pacific's growth in the global market over the forecast period.

Key players functioning in the global Hybrid Aircraft market include Honeywell International Inc. (US), Safran (France), Thales Group (France), Raytheon Technologies (US), GE Aviation (US).

Recent Developments-

In February 2022, magniX announced a collaboration with DESAER, a Brazilian aeronautical company, to develop the ATL-100H, a hybrid electric variant of the ATL-100 regional aircraft. The ATL-100H is expected to save between 25 and 40% of its fuel depending on the range of operation, which is a significant achievement in terms of carbon emission reductions.
In January 2022, Safran is playing a key role in the development of Airbus' H160M Guépard (Leopard) helicopter for the French armed forces' Joint Light Helicopter programme (HIL), which will replace five different helicopter types currently in service with French forces: Gazelle, Alouette III, Dauphin, Panther, and Fennec.

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Global Hybrid aircraft market is segmented as follows:

By Component

Batteries
Fuel Cells
Solar Cells
Electric Actuators
Electric Pumps
Generators
Motors
Power Electronics
Distribution Devices
By Technology

More Electric
Hybrid Electric
Fully Electric
By Application

Power Generation
Power Distribution
Power Conversion
Energy Storage
By Platform

Fixed Wing
Rotary Wing
Unmanned Aerial Vehicles (UAVs)
Advanced Air Mobility
By System

Propulsion System
Environmental Control System
Landing Gear System
Ice Protection System
Flight Control System
Thrust Reverser System
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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