Fuel Cells In Aerospace And Defense Industry Overview
The global fuel cells in aerospace market size is expected to reach USD 1,618.33 million by 2028, according to a new report by Grand View Research, Inc. The market 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.
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:
Based on the Product Insights (Aerospace), the market is segmented into PEMFC, SOFC.
- The PEMFC product segment accounted for the largest revenue share of over 85.0% in 2020. In the aerospace sector, PEMFC is widely used for transportation applications due to its efficiency, compactness, temperature range, and lifetime.
- In the aviation industry, SOFC is more efficient than PEMFC in terms of output power. Boeing has initiated a feasibility study to investigate the SOFC auxiliary power unit (APU) on B737. With this technology, APU is 45% efficient in turning fuel into electricity in contrast to a gas turbine, which is only 15% efficient.
Based on the Product Insights (Defense), the market is segmented into PEMFC, SOFC.
- The PEMFC product segment accounted for a dominant share of over 80.0% in 2020. In the defense industry, PEMFC is used in various applications such as military vehicles and military drones.
- The Department of Defense (DoD), Department of Energy (DOE), and NASA are interested in developing the SOFC technology as it enables efficient power systems for defense applications. The purpose is to develop lightweight logistic fuel compatible systems, power generation for battery charging, range extenders for electric vehicles, and power for unmanned aerial and underwater vehicles.
Based on the Application Insights (Aerospace), the market is segmented into Commercial Aircrafts, Rotorcrafts.
- The commercial aircraft's segment is leading the segment with a share of over 75.0% in 2020. Currently, smaller-sized aircraft with a seating capacity of 20 passengers are equipped with hydrogen-powered fuel cells. However, aircraft manufacturers are conducting feasibility studies for larger commercial aircraft.
- Vendors operating in the market are continuously developing components for fuel cells that are used in rotorcrafts. For instance, in August 2021, HyPoint specializing in air-cooled fuel cells for electric aircraft collaborated with Piasecki Aircraft Corporation (PiAC) to develop fuel cell systems for its crewed H2 helicopter.
Based on the Application Insights (Defense), the market is segmented into Military Drones/UAV, Military Vehicles.
- The military vehicles application segment accounted for a dominant 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.
- Technological advancement in the field of fuel cells for military drones is expected to drive the market over the forecast period. In 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.
Fuel Cells In Aerospace And Defense Regional Outlook
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
The 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.
Some 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.
Order a free sample PDF of the Fuel Cells In Aerospace And Defense Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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