Global Hybrid Propulsion Aircraft Engines Market - 2023-2030

Global Hybrid Propulsion Aircraft Engines Market - 2023-2030

Global Hybrid Propulsion Aircraft Engines Market reached US$ 24.3 billion in 2022 and is expected to reach US$ 42.1 billion by 2030, growing with a CAGR of 7.3% during the forecast period 2023-2030. Aircraft manufacturers and airlines are driving the global hybrid propulsion aircraft engines market by collaborating closely to improve fuel economy through implementing innovative technologies, designs and materials, upgrading engines, optimising aerodynamics and applying lighter materials.

It is expected to reduce pollution as well as fuel consumption. Companies in the aircraft engine sector, such as Pratt & Whitney and NASA, are making significant investments in R&D to increase the operational efficiency of an aircraft engine. During the projected period, commercial aircrafts account for almost 1/3rd of the global hybrid propulsion aircraft engines market.

In February 2022, Airbus established a partnership with CFM International to develop a hydrogen-fueled aircraft engine, with the goal of introducing zero-emission aircraft by 2035. Such strategies are expected to drive the global hybrid propulsion aircraft engines market forward.

Market Dynamics
Rise in Environmental Concerns
The rapid rise of the hybrid aviation industry provides not only major social and economic benefits, but also an increasing number of difficult environmental pollution challenges. The growth and preservation of the environment on humans has become a common goal for the hybrid aviation industry's development. The main adverse effects of pollutants are the greenhouse effect, which affects global temperature change and the decrease of stratospheric ozone, which results in increased surface UV radiation.

The chemical composition of particles in the atmosphere can be altered by the NOx generated by aircraft. For example, the ""Green Hornet,"" F/A-18 Super Hornet multirole fighter jet is currently fuelled by a 50/50 combination of normal jet fuel and camelina-based biofuel. Although not every aircraft is a hybrid, it indicates that biofuels have the ability to power existing aircraft.

Increasing Air Traffic
Increased worldwide aviation traffic, a fleet modernization programme that includes fuel-efficient engines and a steadily growing rate of engine deliveries by manufacturing companies all increase company growth in the global hybrid propulsion aircraft engines market. Boeing and Airbus delivered 41 and 63 commercial aircraft in March 2022, respectively, an increase from 29 and 72 deliveries in the same month last year.

In 2022, Boeing delivered 95 planes and Airbus delivered 142, compared to 77 planes delivered by Boeing and 125 planes delivered by Airbus in the first quarter of 2021. Boeing and Airbus had 18 and 17 deliveries ahead of the first three months of last year, respectively.

Regulatory and Technological Challenges
Hybrid propulsion systems provide new technologies and operating concepts that require regulatory bodies to analyse and certify. The regulation and certification processes can be time-consuming and high safety and performance standards must be met. Since hybrid propulsion technologies are changing, acquiring requisite permits may be difficult, resulting in market penetration and approval delays.

Hybrid propulsion systems, particularly those with electric components, are still developing technology. It is essential to achieve technological maturity and dependability in order to gain industry trust and recognition. The market could face doubt and uncertainty from aircraft manufacturers, operators and regulatory authorities about hybrid propulsion system performance, durability and safety. To overcome the constraints, it is important to demonstrate the dependability and long-term viability of these systems.

COVID-19 Impact Analysis
Due to travel limitations, lockdown precautions and passenger concerns about health and safety, the pandemic resulted in a major decrease in air travel demand. As a result, airlines experienced financial difficulties, resulting in fewer aircraft orders and delivery. The drop in demand had a direct influence on the market for hybrid propulsion aircraft engines, as manufacturers saw a halt in orders and installations.

The pandemic hampered a number of ongoing aviation initiatives, including the development and deployment of hybrid propulsion systems. Aircraft manufacturers and airlines encountered difficulties in completing projects on time, resulting in delays and sometimes cancellations. It had an impact on the demand for hybrid propulsion engines and the supply chain that supported them.

Russia- Ukraine War Impact
The conflict between Russia and Ukraine have an impact on the regulatory and certification processes for hybrid propulsion aircraft engines. Regulatory organisations may impose additional scrutiny and standards for supply chain resilience, security and safety. The modifications may affect the time and expense of gaining regulatory permits and certifications for hybrid propulsion systems, thereby affecting market entry and acceptance.

The Russia-Ukraine war has the potential to cause geopolitical uncertainty, which could have consequences for international commerce and corporate relations. The uncertainty, as well as potential sanctions or trade restrictions imposed by conflicting countries, can disrupt global market dynamics for hybrid propulsion aircraft engines. Companies may experience difficulties navigating the changing geopolitical context, which will have an influence on their operations and investments in the hybrid propulsion sector.

Boeing stopped purchasing Russian titanium in early March. Despite this obstacle, Airbus has reaffirmed its 2022 guidance and stated that its titanium supply needs are satisfied in the short and medium term. However, the industry is increasing its search for non-Russian sources. Both Airbus and Boeing have recently purchased titanium.

Segment Analysis
The global hybrid propulsion aircraft engines market is segmented based on aircraft type, component, power range, end-user and region.

Electric Motors has Few Moving Components and Require Less Maintenance
Electric motors is expected to hold about 1/3rd of the global hybrid propulsion aircraft engines market during the forecast period 2023-2030. Electric motors are becoming more popular due to their numerous benefits, including lower maintenance requirements and higher performance. In hybrid propulsion aircraft engines, electric motors are often utilised in conjunction with standard gas turbine engines to provide a combined power system.

Depending on the aircraft's individual design and requirements, these motors can be equipped into different parts of the aircraft, like the wings, tail or fuselage. Electric motors are highly reliable as they have few moving parts and require minimal maintenance. The design is simple and friction between moving parts wastes no energy. The function improves the efficiency of electric motors.

Geographical Analysis
Presence of Strong Players in Asia-Pacific
Asia-Pacific is anticipated to have significant growth holding around 1/4th of the global hybrid propulsion aircraft engines market during the forecast period 2023-2030. Rising defence budgets and air fleets in growing countries like India and China are projected to help drive regional prosperity. Even during the pandemic-affected 2020, China's generally consistent domestic traffic aided the country's airlines' financial recovery.

According to the Civil Aviation Administration of China (CAAC), the country's domestic passenger traffic exceeded 570 million in 2021, representing around 85% of its pre-COVID volume. Furthermore, according to Boeing, around 8,700 aircraft are scheduled to be delivered in the country by 2040.

Owing to the region's geopolitical difficulties, countries are boosting their investment to improve their aviation capabilities by purchasing advanced aircraft and replacing ageing aircraft. During the forecast period, the factors are expected to fuel the expansion of the hybrid propulsion aircraft engines market in the region.

Competitive Landscape
The major global players include Cranfield Aerospace Solutions, Airbus, Alakai Technologies, GKN Aerospace Services Limited, Lockheed Martin Corporation, Safran S.A., Siemens AG, Boeing, Rolls-Royce Holdings plc. and Raytheon Technologies Corporation.

Why Purchase the Report?
• To visualize the global hybrid propulsion aircraft engines market segmentation based on aircraft type, component, power range, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of hybrid propulsion aircraft engines market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global hybrid propulsion aircraft engines market report would provide approximately 69 tables, 69 figures and 205 Pages.
Power Range 2023
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