DUBLIN--(BUSINESS WIRE)--The "Fuel Cells In Aerospace and Defense Market Size, Share & Trends Analysis Report by Product (PEMFC, SOFC), by Application In Aerospace, by Application In Defense, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global fuel cells in aerospace market size is expected to reach USD 1,618.33 million by 2028 and is expected to expand at a CAGR of 30.6% from 2021 to 2028
Growing awareness regarding alternative sources of energy is one of the major factors contributing to the growth of the market.
The North American market for fuel cells in aerospace and defense is driven by significant support from the federal government of the countries. The U.K. is the leading country for fuel cells in aerospace and defense in the European region. Rising military spending in the APAC region has augmented the demand for military defense/UAVs and military vehicles. This, in turn, is anticipated to lead to the demand for fuel cells used in defense applications.
The market is likely to witness strategic alliances among businesses to expand their end-user segments in emerging markets. Public-private partnerships are predicted to be critical for attaining an economically viable technological shift. The introduction of cleaner technologies to substitute the existing methodologies is anticipated to lead to high costs, which is projected to limit innovations carried out by key market players.
The global fuel cell market is highly competitive owing to continuous technological advancements being introduced by the existing vendors and new entrants. Industry players are focusing on strengthening their relations with system installers and are looking at collaborations and mergers as strategies to help them enhance their presence in the value chain and expand their geographical presence.
Installers and system providers usually hold stock of major equipment in inventories. However, manufacturers faced bottlenecks and shortages owing to limited production in countries severely affected by the COVID-19. Furthermore, upcoming fuel cell-based large-scale projects witnessed delays in commissioning due to disruptions in the supply chain and halting of onsite construction activities in severely affected areas.
Fuel Cells In Aerospace and Defense Market Report Highlights
- In the aerospace industry, the PEMFC product segment accounted for the largest revenue share of over 85.0% in 2020. In the defense industry, PEMFC is used in various applications such as military vehicles and military drones
- In the defense industry, the military vehicles application segment accounted for the largest revenue share of over 50.0% in 2020. Vendors operating in the military vehicles market are partnering with fuel cell technology providers to launch fuel cell-based military ground vehicles
- In August 2020, the U.S. Department of Energy (DOE) announced to invest USD 18.5 million as part of the Advanced Research Projects Agency-Energy's (ARPA-E) Range Extenders for Electric Aviation with Low Carbon and High Efficiency (REEACH) program. The team is developing a highly efficient and cost-effective hybrid-electric turbogenerator suitable for powering a narrow-body aircraft like B737
- Zero-emission-powered fuel cells deliver high efficiency and are more reliable in the case of long-distance flights and military surveillance. Thus, increasing aerospace and defense spending provides an opportunity for fuel cell technology to evolve and penetrate the market
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Research Methodology
1.3. Research Scope & Assumption
1.4. Information Procurement
1.4.1. Purchased Database
1.4.2. Internal Database
1.4.3. Secondary Sources & Third-Party Perspectives
1.4.4. Primary Research
1.5. Information Analysis
1.5.1. Data Analysis Models
1.6. Market Formulation & Data Visualization
1.7. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
Chapter 3. Market Variables, Trends & Scope
3.1. Penetration and Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.6. Business Environment Analysis:
3.6.1. Industry Analysis - Porter's
3.6.2. PESTEL Analysis
3.7. Impact of COVID on Fuel Cell Market
3.8. Development of alternative fuel used for direct combustion in the Aerospace Industry
3.9. Overview of Latest Technological Advancements in Storage and Transportation of Hydrogen in the Aerospace Industry
3.10. Strategic initiatives toward the development of alternative engines in the aerospace industry
3.11. Advancement Of Oxidant in Area of Fuel Cells in Aerospace & Defense
3.12. Recent Developments of Hydrogen/Fuel Cell in Defense Market in usage such as wearable/portable electronics/equipment, off grid power, strategic resource, and track war field
Chapter 4. Fuel Cell Market in Aerospace: Product Estimates & Trend Analysis
4.1. Product Movement Analysis & Market Share, 2020 & 2028
4.2. PEMFC
4.3. SOFC
Chapter 5. Fuel Cell Market in Defense: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2020 & 2028
5.2. PEMFC
5.3. SOFC
Chapter 6. Fuel Cell Market in Aerospace: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2020 & 2028
6.2. Commercial Aircrafts
6.3. Rotorcrafts
Chapter 7. Fuel Cell Market in Defense: Application Estimates & Trend Analysis
7.1. Application Movement Analysis & Market Share, 2020 & 2028
7.2. Military Drones/UAV
7.3. Military Vehicles
Chapter 8. Fuel Cell Market in Aerospace & Defense: Market: Regional Estimates & Trend Analysis
8.1. Regional Market Share, 2020 & 2028
Chapter 9. Competitive Analysis
9.1. Key Global Players & Recent Developments & Their Impact On The Industry
9.2. Vendor Landscape
9.2.1. List Of Key Distributors & Channel Partners
9.2.2. List Of Potential Customers
9.3. Public Companies
9.3.1. Competitive Dashboard Analysis
9.4. Private Company
9.4.1. List Of Key Emerging Companies /Technology Disruptors/Innovators
9.4.2. Mapping Of The Advancements/Technologies/Innovations Of Below Mentioned Companies
Chapter 10. Company Profiles
- Honeywell International Inc.
- Advent Technologies
- Infinity Fuel Cell and Hydrogen, Inc.
- ITM Power
- Cummins Inc.
- Australian Fuel Cells Pty Ltd.
- Intelligent Energy Limited
- HyPoint, Inc.
- ElringKlinger AG
- GenCell Ltd.
- Plug Power, Inc.
- PlugPower Inc.
For more information about this report visit https://www.researchandmarkets.com/r/alyndi
