Global Hybrid Aircraft Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Rise in need for energy conservation & environmental protection, and incorporation of electric propulsion systems are the opportunities for the hybrid aircraft market

• A hybrid aircraft is a type of aircraft that combines two or more different power sources to achieve improved performance and efficiency. Typically, hybrid aircraft use a combination of traditional fuel-based engines and electric motors or batteries to power the aircraft. The use of electric power systems in hybrid aircraft can provide several advantages over traditional aircraft. For example, electric propulsion systems are more efficient, produce fewer emissions, and have lower noise levels. Additionally, electric power can be generated from renewable sources, such as solar and wind power, making hybrid aircraft more sustainable and environmentally friendly. Hybrid aircraft can also offer increased flexibility in terms of flight operations. Hybrid aircraft are being developed for a variety of applications, including commercial aviation, military operations, and unmanned aerial vehicles (UAVs). Commercial aviation companies are investing in developing hybrid-electric aircraft, which could significantly reduce operating costs and emissions, while military organizations are exploring using hybrid aircraft for surveillance and reconnaissance missions.
• According to International Air Transport Association (IATA) expects overall traveler numbers to reach 4.0 Bn in 2024. In 2021, international traveler numbers were 27% of 2019 levels. This is expected to improve to 69% in 2022, 82% in 2023, 92% in 2024, and 101% in 2025. According to Boing's commercial market outlook for 2022-2041 Asian markets account for roughly 40% of long-term global demand for new airplanes. Europe and North America each account for just over 20% of demand, with 15% of deliveries going to other regions. The growing demand for new aircraft due to the rising number of air travelers creates market growth opportunities. Additionally, integrating IoT technology in ULDs can offer numerous benefits for the industry, including improved safety and security, increased efficiency, and enhanced customer experience. As the technology continues to advance, IoT will likely become increasingly prevalent in the hybrid aircraft market.
• Moreover, the rising demand for light and ultralight hybrid aircraft is driven by a combination of factors, including increasing interest in personal aviation, improved efficiency and performance, technological advances, and favorable regulatory environments. Light and ultralight hybrid aircraft are smaller and less expensive than traditional aircraft, making them more accessible to hobbyists and enthusiasts. As a result, the market for light and ultralight hybrid aircraft is expected to continue to grow in the coming years.
• However, one of the main reasons for the high cost of developing hybrid aircraft is the need for specialized components and technologies, such as electric motors, batteries, and power management systems. These components must be designed and manufactured to meet the unique requirements of hybrid aircraft, which can be expensive. The testing and certification process for hybrid aircraft can also be costly. Hybrid aircraft must undergo rigorous testing to ensure that they meet safety and performance standards, which can be time-consuming and expensive. The certification process can also be lengthy and may require significant investment in personnel and resources due to the demand for hybrid aircraft increasing this may hamper the growth of the market.

Market Segmentations

• The Global Hybrid Aircraft Market is segmented based on Type, Technology, platform applications, and Geography.
• By Type, the market is classified as Fixed Wing, Rotary Wing, and Hybrid Wing.
• The demand for hybrid wing configurations in hybrid aircraft has increased due to several factors, such as it offers improved efficiency and performance compared to traditional wing designs. Hybrid wings typically feature a thicker, more rounded leading edge and a thinner, more swept-back trailing edge. This design helps to reduce drag and improve the lift-to-drag ratio, resulting in improved fuel efficiency and range. In addition, hybrid wings can also offer greater stability and control, particularly at low speeds. This can be particularly important for takeoff and landing, where control and stability are critical. Another reason for the increasing demand for hybrid wings is their versatility. Hybrid wings can be designed to accommodate a wide range of payloads and mission requirements, making them well-suited for a variety of applications, from military to commercial and recreational; this factor drives the demand for hybrid aircraft market.
• By Technology, the market is classified as Manned Global Hybrid Aircraft and Unmanned Hybrid Aircraft.
• The Unmanned Hybrid Aircraft segment is predicted to grow with the highest CAGR in the forecasting period due to growing demand for unmanned aerial vehicles for various military, commercial, and recreational applications. Hybrid UAVs offer several advantages over traditional UAVs, including longer endurance and greater payload capacity. Hybrid UAVs can operate for extended periods thanks to their hybrid power systems, which combine both electric and combustion engines. This enables hybrid UAVs to fly longer distances and carry heavier payloads than traditional electric UAVs. In addition, hybrid UAVs can also operate in a wider range of weather conditions compared to electric UAVs, which are often limited by their battery life and power output. Another reason for the increasing demand for unmanned hybrid aircraft is their versatility. Hybrid UAVs can be designed for a wide range of applications, from military reconnaissance and surveillance to agricultural mapping and monitoring.
• By End-User, the market is classified into Commercial and Defense.
• The defense segment is expected to grow with the highest CAGR in the upcoming year. Due to increasing demand for hybrid aircraft in the defense sector is a growing emphasis on energy efficiency and environmental sustainability. Hybrid aircraft can help reduce fuel consumption and emissions compared to traditional aircraft, which can be important for defense organizations seeking to reduce their environmental impact and operating costs. Also, the development of new technologies and manufacturing techniques has made it easier and more cost-effective to design and manufacture hybrid aircraft for defense applications. The demand for hybrid aircraft in the defense sector is expected to continue to grow as defense organizations seek to improve efficiency, range, versatility, and environmental sustainability in their operations.
• By Geography the market is classified into America, Europe, Middle-East and Africa, and Asia-Pacific. The Asia Pacific region is experiencing significant aviation sector growth, driven by increasing air travel demand, economic development, and environmental concerns. As a result, there is a growing interest in hybrid aircraft technologies to address sustainability and reduce carbon emissions.

Recent Development

• Bye Aerospace announced its partnership with Safran Electrical & Power with an aim to develop and certify the eFlyer 800, an all-electric and hybrid-electric aircraft- in July 2021
• MagniX announced a partnership with Universal Hydrogen, a company developing a hydrogen transportation ecosystem with an aim to develop a 40-seat regional aircraft with a hydrogen-electric propulsion system- February 2021

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, and Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Hybrid Aircraft Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Hybrid Aircraft Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Hybrid Aircraft Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market