Hybrid Aircraft Market to Reach $10.2 Billion, Globally, by 2035 at 18.2% CAGR: Allied Market Research

Improved fuel efficiency compared to conventional aircrafts, increase in advancements in electric propulsion technology, and rise in investments by industry stakeholders drive the growth of the global hybrid aircraft market.

WILMINGTON, Del., Nov. 28, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Hybrid Aircraft Market by Aircraft Type (Regional Transport Aircraft, Business Jets and Light Aircrafts, and UAVs and AAM), Lift Technology (Conventional Takeoff and Landing, Short Takeoff and Landing, a Vertical Takeoff and Landing), and Mode of Operation (Piloted and Autonomous): Global Opportunity Analysis and Industry Forecast, 2025-2035". According to the report, the global hybrid aircraft industry size is expected to generate $1.9 billion in 2025, and is anticipated to reach $10.2 billion by 2035, witnessing a CAGR of 18.2% from 2025 to 2035.

Prime determinants of growth

The market is driven by factors such as improved fuel efficiency compared to conventional aircraft, increase in advancements in electric propulsion technology, and surge in investments by industry stakeholders which positively impact the market growth. However, factors such as high development costs, and lack of airport infrastructure hamper the market growth. On the contrary, new use cases in urban air mobility, and surge in adoption of hybrid aircraft for defense applications are the factors which create opportunities during the forecast period.

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Report Coverage & Details:

Impact of Russia-Ukraine War

• The Russia-Ukraine war has exerted a multifaceted impact on the global hybrid aircraft market, influencing key aspects of production, demand dynamics, and strategic considerations within the industry.
• The conflict between Russia and Ukraine has created disruptions in the emerging hybrid aviation sector by increasing vulnerabilities in the supply chain, and surging the cost of raw materials.

The UAVs and AAM segment are expected to dominate the market in 2025

Based on aircraft type, the UAVs and AAM segment is expected to hold the highest market share in 2025, accounting for nearly half of the global market revenue.  Hybrid propulsion systems are being integrated into UAVs to extend their mission endurance, supporting applications such as surveillance, reconnaissance, and cargo delivery. The growth of hybrid technology in UAVs is driven by the expansion of applications of unmanned systems across industries such as defense, agriculture, and logistics. The ability of hybrid propulsion to offer extended flight times, reduced operational costs, and lower environmental impact contributes to the widespread adoption of these systems.

The business jets and light aircrafts segment is expected to register the highest CAGR of 21.5% from 2025 to 2035. Business Jets in the hybrid aircraft market are witnessing a trend towards electrification and hybridization to restructure the luxury aviation experience. This includes the integration of advanced avionics, quieter propulsion systems, and extended range capabilities.

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The vertical takeoff and landing segment is expected to dominate the market in 2025

Based on lift technology, the vertical takeoff and landing segment is expected to hold the highest market share in 2025, accounting for nearly half of the global market revenue. The growth of the VTOL segment is propelled by the increase in emphasis on sustainable and efficient urban air transportation solutions. VTOL hybrid aircraft plays a crucial role in addressing challenges related to urban congestion, offering a solution for point-to-point aerial mobility.

The conventional takeoff and landing segment is projected to attain the highest CAGR of 21.3% from 2025 to 2035. The growth of the CTOL segment is driven by the need for a smooth transition to hybrid technologies within the existing aviation ecosystem. Hybrid aircraft with CTOL capabilities cater to operators seeking the advantages of advanced propulsion systems without substantial modifications to infrastructure. The development of hybrid systems that work with regular runways, regulatory support, and the profitability of CTOL hybrid aircraft for business jet and regional transport contribute toward the growth of the segment.

The piloted segment to maintain its leadership status during the forecast period

Based on mode of operation, the piloted segment is expected to hold the highest market share in 2025, accounting for nearly three-fourths of the global market revenue and is estimated to maintain its leadership status during the forecast period. The piloted segment in the hybrid aircraft market is witnessing a shift towards enhanced human-machine collaboration. Advances in cockpit automation and artificial intelligence empower pilots with advanced tools for decision-making, navigation, and systems management.

The autonomous segment is projected to attain the highest CAGR of 21.4% from 2025 to 2035. There is an increase in adoption of artificial intelligence and autonomous system capability in the hybrid aircraft autonomous segment of the market. The industry continues to explore advances in sensor technology, machine learning algorithms, and real-time decision-making capabilities to enable hybrid aircraft to function with minimal or no human interaction.

North America to maintain its dominance by 2035

Based on region, North America is expected to hold the highest market share in terms of revenue in 2025, accounting for nearly two-fifths of the global market revenue. North America leads global developments in hybrid aircraft with major testbed projects from NASA, Boeing, and Airbus underway leveraging extensive aerospace expertise. The U.S. accounts for many advancements given availability of VC funding in novel aviation tech and Department of Defense interest in agile hybrid platforms for varied missions. Moreover, early use of hybrid aircraft for intercity mobility, package delivery, air ambulance services appear viable owing to progressive regulations around advanced air mobility vehicles.

Europe is expected to witness the fastest CAGR of 19.5% from 2025 to 2035. Several collaborative programs between Airbus, engine firms Rolls-Royce plc/ Safran S.A. and European Union funding provide impetus to hybrid aviation in the region. The goal is leadership in next-gen green aircraft supporting EU climate objectives. The UK, France, and Germany each offer specific competencies, be it systems engineering, engine technologies or simulation capabilities that enable technology maturation when combined across the cross-border initiatives.

Recent Developments:

• At the Paris Air Show in June 2023, Airbus unveiled the Eco Pulse hybrid-electric aircraft, a modification of the Daher TBM light aircraft featuring a hybrid-electric powertrain and six electrically driven propellers.
• In December 2022, Embraer S.A. introduced the Energia Hybrid E19-HE, a hybrid electric propulsion system deemed both realistic and economically viable, offering a potential 90% reduction in CO2 emissions towards achieving net-zero goals.
• Also in December 2022, Raytheon Technologies Corporation launched a Hybrid-electric flight demonstrator, incorporating a 1 MW electric motor to support the industry in achieving zero CO2 emissions.
• Ampaire Inc. introduced the Eco Caravan in November 2022, a hybrid-electric regional aircraft designed to decrease fuel consumption and emissions.

Key Highlights:

• The hybrid aircraft industry report comprehensively examines segments including regional transport aircraft, business jets and light aircraft, UAVs, and AAM (Advanced Air Mobility). Analysis spans regions such as North America, Europe, Asia-Pacific, and LAMEA.
• Employing a research approach that integrates high-quality data, professional insights, and critical independent perspectives, the study aims to provide a well-rounded view of global markets. This is intended to empower stakeholders in making informed decisions to achieve ambitious growth objectives.
• The research involved the review of over 3,700 product literatures, annual reports, industry statements, and comparable materials from major industry participants. This extensive review enhances understanding and insight into the market.

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Leading Market Players: -

• Airbus
• Embraer S.A.
• Safran S.A.
• General Electric
• Raytheon Technologies Corporation
• Ampaire Inc.
• Pipistrel
• Rolls-Royce plc
• Heart Aerospace
• Faradair Aerospace.

The report provides a detailed analysis of these key players of the global hybrid aircraft market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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