Hybrid Aircraft Market Set to Achieve a Valuation of US$ 10.7 Billion by 2033, Riding on a 19.1% CAGR

Hybrid aircraft market size was valued at $1.9 billion in 2023, and is projected to reach $10.7 billion by 2033, growing at a CAGR of 19.1% from 2024 to 2033.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 8, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Hybrid Aircraft Market¹ by Aircraft Type (Regional Transport Aircraft, Business Jets and Light Aircrafts, and UAVs and AAM), Lift Technology (Conventional Takeoff and Landing, Short Takeoff and Landing, a Vertical Takeoff and Landing), and Mode of Operation (Piloted and Autonomous): Global Opportunity Analysis and Industry Forecast, 2025-2035". According to the report, the global hybrid aircraft industry size is expected to generate $1.9 billion in 2025, and is anticipated to reach $10.2 billion by 2035, witnessing a CAGR of 18.2% from 2025 to 2035.

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Europe is expected to experience significant growth during the forecast period. The Europe hybrid aircraft industry is studied across Germany, France, Italy, the UK, and Rest of Europe. Collaborative programs and expansions by companies like Airbus, Rolls-Royce plc, Safran S.A., VoltAero, and Heart Aerospace are propelling Europe to grow in sustainable hybrid aviation.

Several collaborative programs between Airbus, engine firms Rolls-Royce plc/ Safran S.A. and European Union funding provide impetus to hybrid aviation in the region. The goal is leadership in next-gen green aircraft supporting EU climate objectives. The UK, France, and Germany each offer specific competencies, be it systems engineering, engine technologies or simulation capabilities that enable technology maturation when combined across the cross-border initiatives.

In October 2023, VoltAero initiated the construction of a factory in France for its Cassio hybrid-electric aircraft. The Cassio aircraft design, which features a small, single-engine capable of carrying five to 12 people, is intended for various applications, including regional commercial operations, air taxi/charter services, cargo transport, and medical evacuation. This expansion aligns with the growing interest in electric and hybrid-electric aviation, which contribute to the development of more sustainable and environment-friendly air transportation solutions.

The hybrid aircraft industry is governed by factors such as improved fuel efficiency compared to conventional aircraft, increase in advancements in electric propulsion technology, and surge in investments by industry stakeholders which positively impact the Hybrid Aircraft Market growth². However, factors such as high development costs, and lack of airport infrastructure affect the market growth. On the contrary, new use cases in urban air mobility, and surge in adoption of hybrid aircraft for defense applications are the factors which create direct or indirect impact on the growth of the market during the forecast period.

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The global need for sustainability, the need for fuel-efficient aircrafts, and developments in electric propulsion technology are some of the factors driving the expansion of the Hybrid Aircraft Market. Trends in urbanization and the need for creative transportation solutions support the growth of the market. Hybrid aircrafts are becoming essential parts of the aviation ecosystem of the future as emissions, operating costs, and battery technology progress. Therefore, the global hybrid aircraft market presents a dynamic landscape with promising opportunities and challenges.

Militaries are exploring the potential of highly agile manned and unmanned hybrid VTOL aircraft for a range of tactical missions. Compared to gas turbine only platforms, hybrid VTOL combines the advantages from both efficient distributed electric multi-rotors as well as fuel-powered wings for longer endurance ISR or logistics. For instance, in July 2021, Shield AI, an aerospace and defense company, acquired companies like Martin UAV to develop hybrid-electric VTOL tactical drones for short and back-of-the-front-line resupply missions. Such compact cargo delivery to dispersed forward bases using hybrid drones proves cost-effective while being low observable.

Moreover, vertical take-off and landing (VTOL) makers are developing cargo delivery aircraft for military applications. For instance, in November 2023, Hybrid-electric VTOL developer Elroy Air completed turbogenerator hybrid-electric VTOL flight. The successful test flight involved the Chaparral C1, an autonomous cargo delivery aircraft with a distributed electric propulsion system and a turbogenerator-battery architecture. Elroy Air aims to deploy its aircraft for commercial air shipping, humanitarian aid, and military logistics. The company has established partnerships with entities such as Mesa Airlines, AYR Logistics, LCI, Bristow, and FedEx. Additionally, Elroy holds three active contracts with the U.S. Air Force.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

> At the Paris Air Show in 𝐉𝐮𝐧𝐞 𝟐𝟎𝟐𝟑, Airbus unveiled the Eco Pulse hybrid-electric aircraft, a modification of the Daher TBM light aircraft featuring a hybrid-electric powertrain and six electrically driven propellers.
> In 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟐, Embraer S.A. introduced the Energia Hybrid E19-HE, a hybrid electric propulsion system deemed both realistic and economically viable, offering a potential 90% reduction in CO2 emissions towards achieving net-zero goals.
> Also in 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟐, Raytheon Technologies Corporation launched a Hybrid-electric flight demonstrator, incorporating a 1 MW electric motor to support the industry in achieving zero CO2 emissions.
> Ampaire Inc. introduced the Eco Caravan in 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟐, a hybrid-electric regional aircraft designed to decrease fuel consumption and emissions.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

Airbus
Embraer S.A.
Safran S.A.
General Electric
Raytheon Technologies Corporation
Ampaire Inc.
Pipistrel
Rolls-Royce plc
Heart Aerospace
Faradair Aerospace.

The report provides a detailed analysis of these key players of the global hybrid aircraft market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

> The hybrid aircraft industry report comprehensively examines segments including regional transport aircraft, business jets and light aircraft, UAVs, and AAM (Advanced Air Mobility). Analysis spans regions such as North America, Europe, Asia-Pacific, and LAMEA.
> Employing a research approach that integrates high-quality data, professional insights, and critical independent perspectives, the study aims to provide a well-rounded view of global markets. This is intended to empower stakeholders in making informed decisions to achieve ambitious growth objectives.
> The research involved the review of over 3,700 product literatures, annual reports, industry statements, and comparable materials from major industry participants. This extensive review enhances understanding and insight into the market.

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² https://www.alliedmarketresearch.com/press-release/hybrid-aircraft-market.html