Fuel Cells In Aerospace And Defense Market Size, Growth, Trends | Report 2022-2030
The global fuel cell in aerospace market was surpassed at USD 194.7 million in 2021 and is expected to hit around USD 1.71833 billion by 2030, growing at a CAGR of 27.37% from 2022 to 2030
Report Highlights
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.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 194.7 million |
| Revenue Forecast by 2030 | USD 1.71833 billion |
| Growth rate from 2022 to 2030 | CAGR of 27.37% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Aerospace (product & application), defense (product & application), region |
| Companies Covered | Honeywell International Inc.; Advent Technologies; Infinity Fuel Cell and Hydrogen; Inc.; Australian Fuel Cells Pty Ltd.; Intelligent Energy Limited; Cummins Inc.; HyPoint; Inc.; ITM Power; ElringKlinger AG; GenCell Ltd.; Plug Power; Inc.; Loop Energy Inc. |
Product Insights (Aerospace)
The PEMFC product segment accounted for the largest revenue share of over 86.02% in 2021. In the aerospace sector, PEMFC is widely used for transportation applications due to its efficiency, compactness, temperature range, and lifetime.
As per Honeywell Aerospace, air-cooled PEMFC is best suited for aerospace applications due to advantages such as better thermal management, the lighter balance of plant, shorter stack service life, and limited integration flexibility.
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.
Product Insights (Defense)
The PEMFC product segment accounted for a dominant share of over 81.1% in 2021. In the defense industry, PEMFC is used in various applications such as military vehicles and military drones. The increasing sales and popularity of fuel cells in unmanned aerial vehicles (UAVs) have emerged as significant drivers for the PEMFC product segment.
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.
Application Insights (Aerospace)
The commercial aircraft's segment is leading the segment with a share of over 75.3% in 2021. 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. For instance, in January 2021, Airbus organized the ZEROe program, which consists of six, eight-bladed hydrogen-fuel-cell-powered pods mounted beneath the wing of the large 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.
Application Insights (Defense)
The military vehicles application segment accounted for a dominant share of over 50.4% in 2021. Vendors operating in the military vehicles market are partnering with fuel cell technology providers to launch fuel cell-based military ground vehicles. For instance, in September 2021, Kia announced to launch of its first military fuel cell vehicle in 2030, which is likely to include small and light command vehicles and heavy trucks that can be equipped with arms and troops.
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.
Regional Insights
North America held the largest revenue share of over 37.03% in 2021 in the aerospace market. The North American fuel cell market is very beneficial for investments in various research projects that are getting commercialized. The U.S. is one of the major markets for fuel cells and is at the forefront of innovation with support from the U.S. Department of Energy (DOE). 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.
The European government has plans to considerably decrease GHG emissions. As a result, several countries in Europe have identified the implementation of innovative technologies, such as fuel cells (primarily PEMFC), as a way to meet these objectives. This, in turn, is expected to provide a significant opportunity for the fuel cell manufacturers in the market over the forecast period.
In 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 Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Fuel Cells In Aerospace And Defense Market
5.1. COVID-19 Landscape: Fuel Cells In Aerospace And Defense Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Fuel Cells In Aerospace And Defense Market, By Product (Aerospace)
8.1. Fuel Cells In Aerospace And Defense Market, by Product (Aerospace), 2022-2030
8.1.1. PEMFC
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. SOFC
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Fuel Cells In Aerospace And Defense Market, By Product (Defense)
9.1. Fuel Cells In Aerospace And Defense Market, by Product (Defense) e, 2022-2030
9.1.1. PEMFC
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. SOFC
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Fuel Cells In Aerospace And Defense Market, By Application (Aerospace)
10.1. Fuel Cells In Aerospace And Defense Market, by Application (Aerospace), 2022-2030
10.1.1. Commercial Aircrafts
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Rotorcrafts
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Fuel Cells In Aerospace And Defense Market, By Application (Defense)
11.1. Fuel Cells In Aerospace And Defense Market, by Application (Defense), 2022-2030
11.1.1. Military Drones/UAV
11.1.1.1. Market Revenue and Forecast (2017-2030)
11.1.2. Military Vehicles
11.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 12. Global Fuel Cells In Aerospace And Defense Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.1.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.1.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.1.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.1.5.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.1.5.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.1.5.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.1.6.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.1.6.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.1.6.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.2.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.2.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.2.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.2.5.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.2.5.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.2.5.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.2.6.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.2.6.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.2.6.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.2.7.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.2.7.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.2.7.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.2.8.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.2.8.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.2.8.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.3.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.3.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.3.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.3.5.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.3.5.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.3.5.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.3.6.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.3.6.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.3.6.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.3.7.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.3.7.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.3.7.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.3.8.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.3.8.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.3.8.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.4.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.4.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.4.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.4.5.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.4.5.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.4.5.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.4.6.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.4.6.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.4.6.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.4.7.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.4.7.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.4.7.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.4.8.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.4.8.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.4.8.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.5.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.5.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.5.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.5.5.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.5.5.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.5.5.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product (Aerospace) (2017-2030)
12.5.6.2. Market Revenue and Forecast, by Product (Defense) (2017-2030)
12.5.6.3. Market Revenue and Forecast, by Application (Aerospace) (2017-2030)
12.5.6.4. Market Revenue and Forecast, by Application (Defense) (2017-2030)
Chapter 13. Company Profiles
13.1. Advent Technologies
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Australian Fuel Cells Pty Ltd.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Abbott Cummins Inc.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. ElringKlinger AG
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. GenCell Ltd.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Honeywell International Inc.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Infinity Fuel Cell and Hydrogen, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Intelligent Energy Limited
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Loop Energy Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Plug Power, Inc.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers