Hybrid Aircraft Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 1.34 Billion |
| Market Size (2029) | USD 5.75 Billion |
| CAGR (2024 - 2029) | 29.11 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hybrid Aircraft Market Analysis
The Hybrid Aircraft Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 5.75 billion by 2029, growing at a CAGR of 29.11% during the forecast period (2024-2029).
- A confluence of variables impacting the aviation sector is driving significant global growth in the hybrid aircraft market. With increasing awareness of the impact on the environment, there is a spike in demand for hybrid aircraft that offer lower emissions and operating efficiency. This corresponds with worldwide aspirations to adopt eco-friendly aviation solutions, establishing hybrid aircraft as critical in determining the future of sustainable air transportation. The hybrid aircraft market is growing due to factors such as greater fuel economy compared to traditional aircraft, developments in electric propulsion technology, and increased expenditures by industry players.
- However, high development costs and a lack of airport infrastructure impede market expansion. Collaboration between industry players and regulatory agencies is thought necessary to establish a favorable environment for hybrid aircraft market demand. Furthermore, new use cases in urban air transportation, as well as an increase in the deployment of hybrid aircraft for defense purposes, provide significant potential prospects for industry participants.
Hybrid Aircraft Market Trends
Conventional Take off and Landing Segment to Dominate the Market During the Forecast Period
- The need for a smooth transition to hybrid technologies within the existing aviation ecosystem drives the growth of the conventional takeoff and landing (CTOL) segment. Hybrid aircraft with CTOL capabilities cater to operators seeking the advantages of advanced propulsion systems without substantial modifications to infrastructure.
- The advent of electric propulsion systems, which are frequently facilitated by modern energy storage options such as high-capacity batteries, allows for power output optimization and minimizes fuel consumption. This efficiency boost is especially noticeable on short-haul and regional flights when frequent takeoffs and landings have typically resulted in increased fuel usage.
- Furthermore, aerospace component makers have created sophisticated electric motors to improve hybrid aircraft efficiency. For instance, in June 2023, Collins Aerospace's UK division announced the development of a 1MW motor designed for use in a hybrid-electric aircraft propulsion system. This system aims to achieve a notable 30% improvement in fuel efficiency and reduction in CO2 emissions compared to current leading regional turboprop aircraft. The 1MW motor is projected to provide four times the power and twice the voltage of Collins' most advanced electric motor generators currently in use, with significantly reduced heat loss and weight.
- Such developments further support the growth of the hybrid aircraft industry. The development of hybrid systems that work with regular runways, regulatory support, and the profitability of CTOL hybrid aircraft for business jet and regional transport contribute toward the growth of the segment.
Europe to Witness Growth with the Highest CAGR During the Forecast Period
- The market growth in Europe is expected to be fuelled by an advancement in technology and investments in hybrid aircraft during the forecast period. The major countries considered under this region are the UK, France, Germany, Italy, Russia, and the Rest of Europe. The key factor responsible for Europe leading the hybrid aircraft market is the high demand for new modes of transportation in the region.
- Several collaborative programs between Airbus, engine firms Rolls-Royce plc, Safran SA, and the 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 United Kingdom, France, and Germany each offer specific competencies, be it systems engineering, engine technologies, or simulation capabilities that enable technology maturation when combined across cross-border initiatives.
- Thus, the growing demand for hybrid aircraft for commercial applications and their increasing utility in the civil sector to carry out transport and logistics activities are additional factors influencing the growth of the hybrid aircraft market in Europe.
Hybrid Aircraft Industry Overview
The hybrid aircraft market is fragmented in nature. RTX Corporation, Textron Inc., General Electric Company, Airbus SE, and Safran SA are some of the prominent market players.
These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. These companies are mainly into designing, manufacturing, and integrating complete electric aircraft systems for all application platforms.
The market studied is highly competitive and is still evolving. Hence, to gain a competitive advantage and effectively conduct extensive R&D to develop sophisticated systems based on the hybrid aircraft architecture, long-term collaborations are preferred in the whole supply chain. This poses a threat to new market entrants for participating in commercial aircraft programs.
Hybrid Aircraft Market Leaders
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RTX Corporation
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Textron Inc.
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General Electric Company
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Airbus SE
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Safran SA
*Disclaimer: Major Players sorted in no particular order
Hybrid Aircraft Market News
- June 2023: Airbus unveiled the Eco Pulse hybrid-electric aircraft at the Paris Air Show. This innovative aircraft is a modification of the Daher TBM light aircraft, integrating a hybrid-electric powertrain and six electrically driven propellers.
- December 2022: Embraer S.A. introduced the Energia Hybrid E19-HE in December 2022. This hybrid electric propulsion system offers a realistic and economically feasible path to achieve net-zero emissions, with the potential for up to a 90% reduction in CO2 emissions.
Hybrid Aircraft Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Aircraft Type
- 5.1.1 Regional Transport Aircraft
- 5.1.2 Business Jets and Light Aircraft
- 5.1.3 Advanced Air Mobility
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5.2 Mode of Opertaion
- 5.2.1 Piloted
- 5.2.2 Autonomous
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5.3 Lift Technology
- 5.3.1 Conventional Take-off and Landing
- 5.3.2 Short Take-off and Landing
- 5.3.3 Vertical Take-off and Landing
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.2 Europe
- 5.4.2.1 United Kingdom
- 5.4.2.2 France
- 5.4.2.3 Germany
- 5.4.2.4 Italy
- 5.4.2.5 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 India
- 5.4.3.3 Japan
- 5.4.3.4 South Korea
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 Latin America
- 5.4.4.1 Brazil
- 5.4.4.2 Rest of Latin America
- 5.4.5 Middle East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles*
- 6.2.1 Airbus SE
- 6.2.2 Embraer S.A.
- 6.2.3 Safran SA
- 6.2.4 General Electric
- 6.2.5 RTX Corporation
- 6.2.6 Ampaire Inc.
- 6.2.7 Pipistrel
- 6.2.8 Rolls-Royce plc
- 6.2.9 Heart Aerospace
- 6.2.10 Faradair Aerospace
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Hybrid Aircraft Industry Segmentation
A hybrid electric aircraft is an aircraft with a hybrid electric powertrain. As the energy density of lithium-ion batteries is much lower than aviation fuel, a hybrid electric powertrain may effectively increase flight range compared to pure electric aircraft.
The hybrid aircraft market is segmented based on aircraft type, mode of operation, lift technology, and geography. Based on aircraft type, the market is divided into regional transport aircraft, business jets and light aircraft, and advanced air mobility (AAM). Based on the mode of operation, the market is classified into piloted and autonomous. Based on lift technology, the market is categorized into conventional takeoff and landing (CTOL), short takeoff and landing (STOL), and vertical takeoff and landing (VTOL). The report also covers the market sizes and forecasts for the hybrid aircraft market in major countries across different regions.
For each segment, the market size is provided in terms of value (USD).
| Aircraft Type | Regional Transport Aircraft | |
| Business Jets and Light Aircraft | ||
| Advanced Air Mobility | ||
| Mode of Opertaion | Piloted | |
| Autonomous | ||
| Lift Technology | Conventional Take-off and Landing | |
| Short Take-off and Landing | ||
| Vertical Take-off and Landing | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | United Kingdom |
| France | ||
| Germany | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Brazil |
| Rest of Latin America | ||
| Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East and Africa |
Hybrid Aircraft Market Research FAQs
How big is the Hybrid Aircraft Market?
The Hybrid Aircraft Market size is expected to reach USD 1.34 billion in 2024 and grow at a CAGR of 29.11% to reach USD 5.75 billion by 2029.
What is the current Hybrid Aircraft Market size?
In 2024, the Hybrid Aircraft Market size is expected to reach USD 1.34 billion.
Who are the key players in Hybrid Aircraft Market?
RTX Corporation, Textron Inc., General Electric Company, Airbus SE and Safran SA are the major companies operating in the Hybrid Aircraft Market.
Which is the fastest growing region in Hybrid Aircraft Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hybrid Aircraft Market?
In 2024, the North America accounts for the largest market share in Hybrid Aircraft Market.
What years does this Hybrid Aircraft Market cover, and what was the market size in 2023?
In 2023, the Hybrid Aircraft Market size was estimated at USD 0.95 billion. The report covers the Hybrid Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hybrid Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hybrid Aircraft Industry Report
Statistics for the 2024 Hybrid Aircraft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hybrid Aircraft analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
