Air pollution is increasing on the international agenda and is extensively identified as a threat to both economic progress and public health. The World Health Organization (WHO) estimates that annually 4.2 million deaths can be ascribed to air pollution. Recently, there have been key developments in techniques that permit the quantification of air pollution-related indicators to trace growth toward the sustainable development goals and that enlarge the evidence base of the effects of air pollution on health.

Read Report Overview: Electric & Hybrid-Electric Aircraft Propulsion System Market

Several companies across the world participated in various strategies to enable eco-friendly air travel. For instance, in September 2019, General Electric Company collaborated with NASA Advanced Air Vehicles Program (AAVP) to develop the future of flight for large commercial electric propulsion aircraft. For another instance, in May 2020, Airbus S.A.S. and Scandinavian Airlines signed a joint memorandum of understanding to research hybrid and electric propelled aircraft. The alliance of the aircraft manufacturer and the airline would significantly help to get clear the conditions for hybrid and electric aircraft down the line. According to the agreement, Scandinavian Airlines focus on research on the eco-system and infrastructure conditions of hybrid-electric aircraft on a large-scale commercial stage. The following table illustrates the major projects associated with the Electric & Hybrid-electric Aircraft Propulsion System market.

Hybrid-Electric Propulsion Expected to Attain High Investments

Among the Electric & Hybrid-electric Aircraft Propulsion System market, hybrid-electric propulsion is expected to attain high investments in the future due to the high adoption rate in the commercial aviation industry. In 2025, hybrid-electric is expected to acquire the highest market value of $9.98 billion and is expected to grow to $52.73 billion by 2035 at a CAGR of 18.11% during the forecast period.

Moreover, governments are also investing a significant amount of their resources in developing high-speed propulsion system designs such as ramjet and scramjet propulsion systems. High speed aircraft use air-breathing ramjet and scramjet engines that allow them to hover at extremely high speeds. Moreover, due to the extreme speeds, the surface of the aircraft reaches severe temperatures, which conventional materials cannot withstand; hence, exotic materials such as titanium or ceramic materials are utilized for making the surface of these vehicles. Achieving high speeds using these propulsion systems means that traveling to any two points in the world would take significantly less time.

However, achieving eco-friendly air travel comes with certain challenges. One of the key obstacles in manufacturing the electric aircraft is the power to weight ratio of the motors and batteries that are required to replace a conventional kerosene-powered engine. Another major challenge is a stringent regulatory scenario. Although with the technology advancements, both these challenges can be tackled to enable eco-friendly air travel.

U.S. to Witness Fastest Growth in Electric & Hybrid-electric Aircraft Propulsion System Market

The U.S. is expected to dominate the Electric & Hybrid-electric aircraft propulsion system market in 2025 and is anticipated to uphold its dominance throughout the forecast period. Factors such as the presence of major Electric & Hybrid-electric Aircraft Propulsion System manufacturers and a significant investment by the U.S. Department of Defense (DoD) and several other companies are fueling the high growth rate and major share of the U.S. in the Electric & Hybrid-electric aircraft propulsion system market. Moreover, increasing policies to reduce harmful emissions caused by air travel are enabling airlines to procure electric & hybrid-electric aircraft.

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Competitive Landscape

The electric & hybrid-electric aircraft propulsion system market is one of the most competitive industries, with the leading players actively competing against each other to gain a greater share in the industry. The competitive landscape of the electric & hybrid-electric aircraft propulsion system market exhibits an inclination toward emerging strategies and developments by market players.

The Electric & Hybrid-electric aircraft propulsion system market has some prominent players who constantly adopt new strategies to enhance their market presence and to increase their annual revenue. The prominent players in the Electric & Hybrid-electric Aircraft Propulsion System market adopted strategies such as product launch, contracts, mergers, and acquisitions to expand their market presence. The companies are also involved in some of the other developments that include demonstration, integration, and business expansion. The Electric & Hybrid-electric aircraft propulsion system market is highly competitive and requires manufacturers to continually innovate and develop cutting-edge technology. The existing companies, which are expected to develop next-generation defense solutions to cater to the need for future applications, could benefit from the Electric & Hybrid-electric aircraft propulsion system market. The prominent companies in the Electric & Hybrid-electric aircraft propulsion system market include Airbus S.A.S, Rolls-Royce Holdings plc., Boeing Co, Cranfield Aerospace Solutions 3W International GmbH, General Electric Company, GKN Aerospace Service Limited, Honeywell International Inc., Leonardo S.p.A., Lockheed Martin Corporation, MagniX, Rolls-Royce Holdings plc., Safran S.A., Siemens AG, The Raytheon Company, and Israel Aerospace Industries.