Fuel Cells In Aerospace And Defense Market Emerging Trends And Forecast 2028

Fuel Cells In Aerospace And Defense Industry Overview

The global fuel cell in aerospace market size was valued at USD 193.87 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 30.6% from 2021 to 2028.

 

The global fuel cell in defense market size was valued at USD 444.70 million in 2020 and is anticipated to grow at a CAGR of 10.7% over the forecast period. The North American market for fuel cells in aerospace and defense is driven by significant support from the federal government of the countries. In the European region, the U.K. is the leading market for fuel cells in aerospace and defense. A rise in demand for non-conventional energy sources is one of the key factors fostering the growth of the market. Fuel cells are one of the fastest-growing alternative solutions, primarily due to their ability to generate electricity using a variety of fuels. In addition, unlike conventional sources, they are eco-friendly in nature as their byproducts do not pose a threat to the environment.

 

Gather more insights about the market drivers, restrains and growth of the Global Fuel Cells In Aerospace And Defense Market

 

The U.S. is among the early adopters of clean energy solutions for sectors such as power generation and transportation. It can be attributed to the increased importance given to clean energy solutions as per the energy act introduced by the U.S. government. Such acts have provided a starting guideline regarding the implementation of clean energy solutions in the country’s energy sector.

 

The government of Canada introduced the Canadian Fuel Cell Commercialization Roadmap in 2003. The objective of this roadmap was to accelerate the commercialization of fuel cells and hydrogen technologies in Canada. This roadmap was updated in 2008 and was outlined as a significant tool for Canada to achieve a low carbon transition in the future.

 

The U.S. Army and U.S. Navy are among the users of fuel cells in North America. Vendors operating in the market are continuously developing components of fuel cells that are used in rotorcrafts.

 

Browse through Grand View Research’s Power Generation & Storage Industry Research Reports.

• Fuel Cell Market: The global fuel cell market size was valued at USD 4.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2028.
• Combined Heat & Power Installation Market: The global combined heat and power installation market size was valued at USD 9.4 billion in 2019 and is expected to grow at a CAGR of 3.1% from 2020 to 2027.

 

Fuel Cells In Aerospace And Defense Market Segmentation

Grand View Research has segmented the global fuel cells in aerospace and defense market based on aerospace (product & application), defense (product & application), and region:

• Fuel Cells in Aerospace and Defense Product Outlook (Aerospace) (Revenue, USD Million, 2017 – 2028)
  • PEMFC
  • SOFC

 

• Fuel Cells in Aerospace and Defense Product Outlook (Defense) (Revenue, USD Million, 2017 – 2028)
  • PEMFC
  • SOFC

 

• Fuel Cells in Aerospace and Defense Application Outlook (Aerospace) (Revenue, USD Million, 2017 – 2028)
  • Commercial Aircrafts
  • Rotorcrafts

 

• Fuel Cells in Aerospace and Defense Application Outlook (Defense) (Revenue, USD Million, 2017 – 2028)
  • Military Drones/UAV
  • Military Vehicles

 

• Fuel Cells in Aerospace and Defense Regional Outlook (Revenue, USD Million, 2017 – 2028)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

 

Market Share Insights

 

• September 2021: SFC Energy AG partnered with Bharat Electronics and FC TecNrgy to investigate energy generation solutions in hydrogen fuel cells in the area of off-grid power supply for use in applications such as homeland security, civil protection, and defense.
• August 2021: Honeywell announced to develop of an innovative Beyond Visual Line of Sight (BVLOS) technology suite for light drones, which allows them to fly three times longer and with less human intervention.
• January 2021: DLR, Germany’s aerospace center, announced that for the BALIS project, it is developing a 1.5 MW fuel cell powertrain that will be used by aircraft. The initial focus and goal of this project is the use of fuel cells in the aviation sector and emission-free air transport in Germany.

 

Key Companies profiled:

Some of the prominent players in the global fuel cells in aerospace and defense market include:

• Advent Technologies
• Australian Fuel Cells Pty Ltd.
• Cummins Inc.
• ElringKlinger AG
• GenCell Ltd.
• Honeywell International Inc.
• Infinity Fuel Cell and Hydrogen, Inc.
• Intelligent Energy Limited
• Loop Energy Inc.
• Plug Power, Inc.

 

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