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Fuel cells are a type of electrochemical cell which helps to convert chemical energy into electricity through electrochemical reaction. Fuel cells require continuous flow of fuel and oxygen to operate the electrochemical reaction. These type of fuel cells witness growing demand in different types of aircrafts specified for commercial and military operations.

The global aircraft fuel cell market is witnessing rapid growth in recent years. Rising population coupled with increasing disposable income raises business activity, thus accelerating demand for air travel. Moreover, numerous countries apart from the U.S. and Russia are increasing their defense spending and this fosters the growth of the aircraft fuel cell market. Rising investment in the aviation sector is expected to increase the demand for fuel cells during the forecast period. Technological innovation is a boon to the aviation industry and this facilitates huge advancement in the production technology of fuel cells. Technological advancement reduces the requirement for platinum used in the proton exchange membrane fuel cell and that reduces the price of fuel cells considerably. Decrease in the price of fuel cells is a major driving factor for the growth potential of the aircraft fuel cell market. Installation of fuel cells helps to generate heat and thermal energy from waste heat which is produced through exothermic reaction. Hence, installation of fuel cells helps to produce heat and thermal energy that is a popular mechanism for saving cost of energy substantially. This type of energy is used in transportation systems. Thus fuel cells help to generate different types of energy and this is expected to boost the demand for fuel cells over the forecast period.

Production of fuel cells causes greenhouse gases and aggravates the severity of global warming. Generation of fuel cells requires a large amount of energy than it actually is able to produce. Extensive energy requirement for the production process of fuel cells makes its production expensive and this factor is likely to restraint the potential growth prospect of this market over the forecast period.

With the rising concern for the environment, government and aviation associations implement measures to cut down the emission of greenhouse gases. Many economies have adopted smart energy and fuel cell technology for the production of energy more efficiently. Adoption of fuel cell technology reduces carbon emission, thus fostering the efficiency of aircraft operation. Reduced level of greenhouse emission and eco-friendly production technique is expected to propel the market opportunity of aircraft fuel cell market over the forecast period.

On the basis of end users, the global aircraft fuel cell market is segmented into aviation and defense industries. Defense industry held the leading market share. This type of aircraft fuel cells are extensively used in the defense industry for producing energy. This technology reduces the amount of oil import and provides 100% efficiency as aviation fuel energy. It fulfills the energy requirement of aircrafts during wars and reduces the chances of aircraft accidents. This modern technology thus improves the air defense segment of an economy and this factor is expected to boost the demand for aircraft fuel cells over the forecast period.

Based on geographic locations, the global aircraft fuel cell market is segmented into five regions - North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Asia Pacific held the dominant market share owing to the rising investment in the aviation and defense sector by emerging economies such as China, India, South Korea and others. With the growing level of greenhouse gases, this region implements measures to cut down greenhouse gas emissions and this factor is propelling the growth prospect of the aircraft fuel cell market. With the steady increase in the number of aircrafts, the aircraft fuel cell market is likely to see a steady growth rate during the forecast period.

Some of the key players in the aircraft fuel cell market include Ballard Power Systems, Serenergy, Hydrogenics, Boeing, Airbus and others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Aircraft Fuel Cells Market

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