Escalating demand for non-conventional sources of energy, rising environmental concerns of the masses, and economic developments across various regions are primarily aiding the industry outlook.
An unmanned aerial vehicle's electric propulsion motors can be powered by one or more hydrogen fuel cells, which are electrochemical devices that transform hydrogen into electricity through a chemical process. Hydrogen is a very clean fuel because the only byproducts of this chemical process are electricity, water, and heat.
A fuel cell is an electrochemical device that converts chemical energy from a fuel and an oxidising agent into electricity through redox reactions. This cell is widely used for producing energy in an effective and clean manner. There are numerous key reasons driving the market demand globally, including the increasing demand for fuel cells in the aerospace and defence industries, increased investments in the aerospace industry, and the presence of supportive government policies.
Fuel Cells in Aerospace and Defense market- Segment Analysis
By Product Type
- PEMFC
- SOFC
The PEMFC segment is anticipated to capture a significant market share over the analysis timeline owing to its compactness, efficiency, and temperature range.
By Application
- Aerospace
- Commercial Aircrafts
- Rotocrafts
- Defense
- Military Drones/UAV
- Military Vehicles
The commercial segment is projected to garner notable gain over 2022-2030 ascribing to rising domestic and international travels driven by growth in per capita income.
Also, the military vehicles segment is predicted to garner substantial returns over the assessment duration due to technological advancements and surging expenditure in the field.
Fuel Cells in Aerospace and Defense market- Geographical Landscape
The major regions comprising the geographical terrain of this business sphere are North America, Latin America, Europe, Middle East Africa, and Asia Pacific. North America is projected to showcase lucrative expansion trends over 2022-2030 attributed to growing environmental concerns, high defense expenditure, and research development investments in the field
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Top Key Players:-
- Australian Fuel Cells Pty Ltd.
- ElringKlinger AG
- GenCell Ltd.
- Honeywell International Inc.
- Infinity Fuel Cell and Hydrogen, Inc.
- Intelligent Energy Limited
- Plug Power, Inc
- HyPoint, Inc
- Collins Aerospace
- GM Defense
- Ricardo
- Giner Inc.
- GKN Aerospace Services Limited
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