Global hybrid aircraft market is expected to reach USD 1,200 million by 2025 and is expected to exhibit a CAGR of more than 9.2% between 2017 and 2025.
A hybrid aircraft is a powered aircraft that obtains some of its lift as a heavier-than-air aerodyne, and some as a lighter-than-air airship. Dynastats and Rotastats are the two types of hybrid aircraft based on its design. A dynastat is an aircraft, typically intended for long-endurance flights. A dynastat hybrid aircraft is designed with lifting body or/and fixed wings. To create the aerodynamic lift type, it requires forward flight. Where, rotastat aircraft typically intended for heavy lift applications. A rotastat is designed with rotary wings.
The hybrid aircraft market was valued at around USD 540 million in the year 2016 and it is expected to reach approximately USD 1,200 million by 2025. The global hybrid aircraft market is expected to exhibit a CAGR of more than 9.2% between 2017 and 2025.
Drivers and Restraints
The major factor driving the increasing environment concerns. Emissions from commercial transport account for approximately 1.5% of the global carbon dioxide footprint, and are expected to increase as air traffic and trade grows. The Hybrid aircraft is non-rigid, with no internal structure providing its shape, and it is heavier than air. The 80% of its lift is generated by helium, and 20 percent is from the aerodynamic design of the envelope. The fuel consumption by the hybrid aircraft is much lower than commercial aircrafts, and hence helps to save the fuel and minimal emission of gas in environment. The rising environment concern globally is expected to develop demand for hybrid aircraft over the forecasted period.
Moreover, the increasing terrorism across the world is also expected to propel the growth of market globally. The special forces and defense of various countries are strengthening their countermeasures to combat threats from antagonistic groups.
However, the high cost of developments of hybrid aircraft may restrict the growth of the global hybrid aircraft market.
Rotastat and Dynastat and are the types of hybrid aircraft. The dynastat type of hybrid aircraft has advantages over roast at such as better fuel efficiency and low maintenance cost. The Dynastats hybrid aircraft accounted major share in the global hybrid aircraft market and expected to remain dominant during the forecast period.
The unmanned hybrid aircraft segment by technology is expected to register high CAGR during the forecast period. The increasing adoption of unmanned aircraft for secret and national security operations and for long flights is expected to propel the growth of segment during the forecast period in the global market.
The hybrid aircraft can fly for longer than three weeks; hence they are highly used for long-endurance flights. The commercial tours segment accounted major share in the global hybrid aircraft market by application. The rising demand for long flights will boost the growth of segment in global hybrid aircraft market over the forecast period.
The North America is estimated to account major share in the global hybrid aircraft market followed by Europe. The rising investment and strategic partnership in Europe to develop hybrid aircraft is the key factor contributing towards the high share of the region in the global market. In March 2016, the Lockheed Martin Corp. has signed a selling deal with Skunk Works division for development of hybrid aircrafts.
The increasing terrorism and growing economy are expected to propel the growth of Asia Pacific in the global market over the forecast period.
The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report is Egan Airships, Boeing, Aeros, Airbus, Hybrid Air Vehicles, Lockheed Martin, Northrop Grumman, AUGUR-RosAeroSystems, Lindstrand Technologies, ILC Dover, Straightline Aviation, Solar Ship Inc., AeroVehicles Inc. among others.
The major players in the hybrid aircraft market are investing in the development of new of new aircrafts. For instance, Hybrid Air Freighters signs a letter of intent to purchase up to 12 Lockhead Martin Hybrid Airships, at an approximate value of USD 500 Mn.
This report is based on in-depth qualitative and quantitative analyses of the global Hybrid Aircraft market. Zion Market Research has collected and analyzed key data belong to the global Hybrid Aircraft market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Hybrid Aircraft across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Hybrid Aircraft industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Hybrid Aircraft market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
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