The global hybrid aircraft market was valued at USD 559 million in 2016 and is expected to surpass USD 890 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global hybrid aircraft market, under its aerospace portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Aeros, Airbus, Boeing, Hybrid Air Vehicles (HAV), and Lockheed Martin.
According to Avimanyu Basu, a lead analyst for aerospace research at Technavio, “The intense competition among nations to develop advanced aircraft is the major driver driving growth in the global hybrid aircraft market. Rising terrorism across the globe has compelled the defense and the special forces of various countries to strengthen their countermeasures to combat threats from hostile groups.”
Such measures are driving the need for advanced military platforms such as hybrid aircraft, which can support military operations during the war, counter-insurgency operations, and humanitarian assistance missions. Aircraft and helicopters are also largely used for aerial combat as well as support. Hence, most nations are investing a considerable portion of their budget for the development and upgrade of these platforms.
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Emergence of electric hybrid planes
The most convenient way to progress in the development of a hybrid model is to drive the propulsion system with the battery pack, which is usually included in most of the airplanes in various forms. Airbus developed the E-Fan Electric Aircraft in 2015, which is a twin-engine electric plane. It can run for 45 minutes to one hour on a single charge, with a maximum speed of 136.7 miles per hour. E-Fan aircraft’s two electric motors deliver 60 kilowatts of combined power that drives the ducted, two aft-mounted, variable pitch fans.
Advent of vertical take-off and landing systems
Owing to the growing demand for aerial vehicles for surveillance, military operations, patrolling, and other humanitarian assistance operations, governments of various countries are funding the development of advanced military aircraft. The US holds the major share in the global VTOL aircraft market due to the growing investments by DARPA toward developing VTOL aircraft. The most important feature of VTOL is that its wings can rotate from horizontal to vertical positions, allowing the plane to take off from a small patch or ground rather than from a long landing strip.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. A competitive analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Hybrid Aircraft Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Maritime Patrol Aircraft Market 2017-2021
- Global Military Aircraft Modernization and Upgrade and Retrofit Market 2017-2021
- Global Commercial Aircraft Avionic Systems Market 2017-2021
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