Hybrid Aircraft Market Size

Statistics for the 2023 & 2024 Hybrid Aircraft market size, created by Mordor Intelligence™ Industry Reports. Hybrid Aircraft size report includes a market forecast to 029) and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Hybrid Aircraft Industry

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Hybrid Aircraft Market Summary
Study Period 2019-2029
Market Size (2024) USD 1.34 Billion
Market Size (2029) USD 5.75 Billion
CAGR (2024 - 2029) 29.11 %
Fastest Growing Market Europe
Largest Market North America

Major Players

Hybrid Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Hybrid Aircraft Market Analysis

The Hybrid Aircraft Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 5.75 billion by 2029, growing at a CAGR of 29.11% during the forecast period (2024-2029).

  • A confluence of variables impacting the aviation sector is driving significant global growth in the hybrid aircraft market. With increasing awareness of the impact on the environment, there is a spike in demand for hybrid aircraft that offer lower emissions and operating efficiency. This corresponds with worldwide aspirations to adopt eco-friendly aviation solutions, establishing hybrid aircraft as critical in determining the future of sustainable air transportation. The hybrid aircraft market is growing due to factors such as greater fuel economy compared to traditional aircraft, developments in electric propulsion technology, and increased expenditures by industry players.
  • However, high development costs and a lack of airport infrastructure impede market expansion. Collaboration between industry players and regulatory agencies is thought necessary to establish a favorable environment for hybrid aircraft market demand. Furthermore, new use cases in urban air transportation, as well as an increase in the deployment of hybrid aircraft for defense purposes, provide significant potential prospects for industry participants.

Hybrid Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)