Zero-Emission Aircraft Global Market Report 2023

Major players in the zero-emission aircraft market are AeroDelft, Airbus S.A.S., Bye Aerospace, Eviation Aircraft, Joby Aviation, Lilium, Wright Electric, Boeing, Northrop Grumman Corporation, SpaceX Aerospace Company, ZeroAvia, MagniX, Zunum Aero, and Aurora Flight Sciences (The Boeing Company).

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Zero-Emission Aircraft Global Market Report 2023" - https://www.reportlinker.com/p06479791/?utm_source=GNWThe global zero-emission aircraft market is expected to grow from $17.68 billion in 2022 to $20.82 billion in 2023 at a compound annual growth rate (CAGR) of 17.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The zero-emission aircraft market is expected to reach $38.07 billion in 2027 at a CAGR of 16.3%.

The zero-emission aircraft consist of sales of aircraft that uses various technology including solar power during its operation.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Zero-emission aircraft refers to aircraft that produce no greenhouse gas emissions during operation, such as carbon dioxide or methane. A zero-emission aircraft provides a sustainable alternative to conventional aircraft, reducing air travel’s carbon footprint.

Europe was the largest region in the zero-emission aircraft market in 2022. The regions covered in zero-emission aircraft report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main zero-emission aircraft types are turboprop rear bulkhead, turbofan system, and blended wing body.Turboprop rear bulkhead refers to a structural component that is installed in the fuselage to separate the pressurized zone from the unpressurized zone, and it supports the pressure load in the cabin.

The various sources are hydrogen, electric, and solar with various range that includes short-haul, medium-haul, and long-haul. The various technologies are electric motor technology, fuel cell technology, hydrogen fuel storage, power management and distribution technology, and others that are applied in passenger aircraft, and cargo aircraft.

The increasing stringency of the emission regulations is expected to propel the growth of the zero-emission aircraft market going forward.Stringency on aircraft emission regulations refers to the degree of strictness or severity of rules and policies that aim to decrease greenhouse gas emissions and other harmful substances that originate from aircraft.

Zero-emission aircraft propulsion systems produce no emissions during operation due to hydrogen-powered engines, including greenhouse gases and other harmful pollutants. For instance, in February 2021, according to the International Council on Clean Transportation, a US-based non-profit research organization, the U.S. Environmental Protection Agency (EPA) implemented its first federal policy in 2021. It regulates greenhouse gas emissions from commercial aircraft. Similarly, the International Civil Aviation Organization (ICAO), a Canada-based specialized agency had set a goal of reducing CO2 emissions from aviation by 2% per year from 2020 and achieving carbon-neutral growth improvement by 2050. Therefore, the increasing stringency of the emission regulations is driving the growth of the zero-emission aircraft market going forward.

Electric aircraft technologies are a key trend gaining popularity in the zero-emission aircraft market.Electric aircraft refers to aircraft types that utilize batteries to power an electric motor instead of jet fuel.

Companies operating in the zero-emission aircraft market are launching innovative aircraft using battery technology to sustain their position in the market.For instance, in September 2022, Eviation Aircraft, an Israeli-based developing electric aircraft, launched Alice, a first-of-its-kind all-electric passenger aircraft.

It is a nine-passenger electric aircraft with battery technology similar to electric cars or cell phones. With just 30 minutes of charging, the Alice can fly for up to 2 hours, making it a promising development in the aviation industry’s pursuit of more sustainable and environmentally-friendly air travel.

In April 2022, Textron Inc., a US-based aircraft company acquired Pipistreld d.o.o for $240 million. Through this acquisition, Pipistrel became part of Textron’s newest business sector, Textron eAviation, which will pursue Textron’s long-term strategy to offer a family of sustainable aircraft for civic air mobility. Pipistrel is a Slovenia-based aircraft manufacturing company that specializes in electric aircraft and is concentrated on sustainable flight for the future.

The countries covered in the zero-emission aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The zero-emission aircraft market research report is one of a series of new reports that provides zero-emission aircraft market statistics, including zero-emission aircraft industry global market size, regional shares, competitors with a zero-emission aircraft market share, detailed zero-emission aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the zero-emission aircraft industry. This zero-emission aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06479791/?utm_source=GNW

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