The global Hybrid-Electric Passenger Jet Market is projected to grow at a CAGR of 9.5% during the forecast period from 2022 to 2030.
Hybrid-Electric Passenger Jet Market Overview:
The market growth can be attributed to increasing demand for fuel-efficient aircraft and growing concerns over environmental pollution. In terms of type, the battery segment is expected to lead the global hybrid-electric passenger jet market over the forecast period. This can be attributed to advances in battery technology, which have made them more efficient and reliable than other types of power sources such as solar cells and gas engines.
Hybrid-Electric Passenger Jet market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Hybrid-Electric Passenger Jet market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
Significant Hybrid-Electric Passenger Jet Market Dynamics and Growth Factors:
Increasing demand for air travel: The global air travel market is expected to grow at a CAGR of 6.4% from 2016 to 2021, reaching a total value of $824 billion by 2021. This growth is being driven by the increasing number of passengers traveling for both business and leisure purposes.
Rising disposable income in developing countries: The growth in the air travel market is being driven by rising disposable incomes in developing countries, where there is a large population that is increasingly becoming affluent and has the ability to afford flying as a mode of transportation.
The proliferation of low-cost carriers: The proliferation of low-cost carriers (LCCs) has made flying more affordable for consumers, thus driving demand for air travel services. LCCs now account for around one-third of all airline passengers worldwide and this share is expected to grow in the coming years as more people opt for budget-friendly options when traveling.
The Hybrid-Electric Passenger Jet market research report is categorized based on type, applications and region.
Market Key Players:
Zunum Aero, JetBlue Technology, Siemens AG, Airbus SE, Rolls Royce, and others.
- Solar Cells
Geographically, the global Hybrid-Electric Passenger Jet market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
Asia Pacific market accounted for the largest revenue share of over 40% in 2019 and is expected to continue to dominate during the forecast period. Commercial aviation activity in the region has been growing rapidly owing to rising passenger traffic, which in turn is expected to increase the demand for hybrid-electric passenger jet. China and Japan rank in the top five for both domestic and international travel. Therefore, when these two countries adopt hybrid-electric passenger jet as part of their fleet replacement programs or new aircraft deliveries, it will have a positive impact on the regional product demand. The European regional market held a significant share in 2019 owing to massive investments by industry leaders across Europe to develop advanced electric aircraft that can efficiently and affordably meet customer demands.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Hybrid-Electric Passenger Jet Market report scope
CAGR of 9.5% during the forecast period.
Batteries, Solar Cells, Gas-powered
Zunum Aero, JetBlue Technology, Siemens AG, Airbus SE, Rolls Royce
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Key Takeaways from this Hybrid-Electric Passenger Jet Report
- Estimate Hybrid-Electric Passenger Jet market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Hybrid-Electric Passenger Jet market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the Hybrid-Electric Passenger Jet market projected to grow in the forecast period 2022 to 2030?
What are the types of Hybrid-Electric Passenger Jet market?
What are the applications of Hybrid-Electric Passenger Jet market?
Who are the top players in Hybrid-Electric Passenger Jet market?
Which application segment is expected to drive the growth of the Hybrid-Electric Passenger Jet market in the next 5 years?
Which are the key deployments types adopting Hybrid-Electric Passenger Jet market?