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IN THE NEWSSeptember, 2020: Airbus released a proposal to launch a series of zero-emission aircraft using hydrogen fuel, with three aircraft designs.
The global zero emission airplanes market is estimated to garner a significant CAGR over the forecast period, i.e., 2021–2030. The growth of the market can be attributed to the increasing need to reduce the carbon emission of aircrafts to curb the air pollution. Zero emission airplanes are a concept of using hydrogen, electricity, or solar energy to power the aircraft, in order to completely diminish any aviation pollution. The major pollutant from aircrafts is NO2 and other unfiltered particles. The aviation pollution has increased more than 18% since 1990s, and was responsible for more than 6000 premature deaths in 2019. The concept of zero emission airplanes is still under development, and is estimated to attain physical state by the end of 2035. This is estimated to significantly boost the market growth. Moreover, increasing investment in this concept, and other innovations in the aerospace industry, are expected to boost the market growth.
The global zero emission airplanes market is segmented by vehicle type into commercial airplanes, helicopters, air mobility vehicles, and others, out of which, the commercial airplane segment is anticipated to hold the notable share in the market during the forecast period on account of increasing innovation in the aerospace industry, along with increasing investment in the direction. On the basis of end-user, the market is segmented into defense, commercial, and others, out of which, the commercial segment is estimated to gain the major share over the forecast period, owing to the mounting research and development ongoing for making zero emission commercial planes. CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the global zero emission airplanes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner notable share over the forecast period on the back of highest number of airplanes and other aviation vehicles present in countries, such as, the U.S., with more than 1900 airports in the nation. Moreover, increasing innovation and technological advancements in the region is estimated to boost the market growth in the region. The market in the Europe region is estimated to witness major growth over the forecast period owing to the ongoing research and innovation in technology, in countries, including Sweden, France, and Germany, among others. The major players in the aircraft market are estimated to invest heavily in this concept in the coming years, which is anticipated to boost the market growth.
The global zero emission airplanes market is further classified on the basis of region as follows:
Our in-depth analysis of the global zero emission airplanes market includes the following segments:
The market is dominated by Airbus SAS, which is currently working on the concept of zero emission airplanes, and is estimated to start the production between 2030-2035. However, other major players of the aerospace industry are anticipated to step into the market in the upcoming years.
FREQUENTLY ASKED QUESTIONS
Growing concerns for rising aviation pollution is one of the major factors driving the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2030.
Requirement of high investment is a major factor estimated to hamper the market growth.
The market in the North America will provide the highest growth opportunities for the market during the forecast period on the back of increasing investment in innovation and advancement of technology.
The major player in the market is Airbus SAS, however, other major aerospace market key players are estimated to enter the market in the upcoming years.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by technology, vehicle, end-user, and by region.
The commercial segment is anticipated to hold the largest market share during the forecast period on the back of increasing investment in the development of zero emission commercial planes.
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