Fuel Cells In Aerospace And Defense Market

Fuel Cells in Aerospace and Defense Market Size, Share, Trends, Growth, and Industry Analysis, By Product (PEMFC, SOFC), By Application (Aerospace, Defense), Regional Insights and Forecast to 2032

Aerospace & Defence | August 2022 | Report ID: EMR0021 | Pages: 110

global fuel cells in aerospace and defense market size was USD 210.79 million in 2022 and to reach USD 1922.33 million in 2031, exhibiting at a CAGR of 31.7% during the forecast period.


The global fuel cell aerospace and defense market is highly competitive owing to the continuous technological advancements being introduced by existing vendors and new entrants. Industry key players are focusing on strengthening their relations with system installers and are looking at collaborations and mergers as strategies to help them enhance their presence in the value chain and expand their geographical presence.

Market Growth

The North American market for fuel cells in aerospace and defence is driven by significant support from the federal governments of both countries. The United Kingdom is the leading country for fuel cells in aerospace and defence in the European region. Rising military spending in the APAC region has increased demand for military defense, UAVs, and military vehicles. This, in turn, is anticipated to lead to a demand for fuel cells used in defence applications. Due to rising demand for good aerospace and defence applications, coupled with growing support from the government, this is fueling market growth. The North American region seems to be in a substantial position in terms of revenue share due to substantial support from the federal government. In the European region, the U.K. is in a leading position in terms of profits.

Growing demand for non-conventional energy resources in various countries and regions is fueling the market. Because of their ability to convert electricity through a variety of fuels, fuel cells are one of the fastest-growing alternative energy resources. Along with this, the fuel cells are conventional resources, which are eco-friendly as their by-products do not harm nature.


The recent pandemic has led to dramatic losses of human life globally and an unprecedented challenge to the manufacturing industry. The virus spread at breakneck speed around the world, contaminating millions. The unprecedented global lockdowns had resulted in a monetary fall, posing catastrophic financial challenges across sectors. Thus, the supply chain and logistics can stand still, which affects the production of fuel cells.

However, manufacturers faced bottlenecks and shortages owing to limited production in countries severely affected by COVID-19. Furthermore, upcoming fuel cell-based large-scale projects witnessed delays in commissioning due to disruptions in the supply chain and the halting of onsite construction activities in severely affected areas.


Report Attribute


Projected Market Value (2031)

1922.33 million

Estimated Market Value (2022)

210.79 million

Base Year


Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Aerospace (product & application), defense (product & application), Region

Segments Covered

Aerospace (product & application), defense (product & application), and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Market –Driving Factors

Fuel Cells in Aerospace and Defense Market Revenue is expected to grow at a healthy CAGR, driven by unprecedented demand from emerging markets. Digital technology advances in the Fuel Cells for Aerospace and Defense market are enabling efficient production, effective operational maintenance, expanding portfolios, and sales monitoring. Proliferating demand for smart storage, decentralised networks, intelligent automation, and increasing disposable incomes in fast-flourishing developing nations are a few of the key market developments. The post-pandemic economic recovery, which boosts energy consumption and automotive, industrial, and consumer goods sales, leads to an impressive growth rate in 2021.

However, complying with stringent regulations and varying standards around the world, growing competition, and inflation are estimated to remain above. The upper band during the short term in key nations and fluctuating raw material prices are some of the Fuel Cells In Aerospace and Defense market restraints for the forecast period.

Market Analytics

The research analyses various direct and indirect forces that can potentially impact the supply and demand conditions for fuel cells in the aerospace and defence markets. To better prospect Fuel Cells in Aerospace and Defense market opportunities, the parent market, derived market, intermediaries' market, raw material market, and substitute market are all evaluated. To estimate the best fuel cell market projections for aerospace and defense, geopolitical analysis, demographic analysis, and Porter's five forces analysis are prudently assessed. 

Fuel Cells in Aerospace and Defense: Trade and Price Analysis helps comprehend Fuel Cells in Aerospace and Defense's international market scenario with top exporters, suppliers, and importers, as well as customer information. The data and analysis assist our clients in planning procurement, identifying potential vendors or clients to associate with, understanding Fuel Cells in Aerospace and Defense price trends and patterns, and exploring new Fuel Cells in Aerospace and Defense market sales channels. The research will be updated to the latest month to include the impact of the latest developments, such as the Russia-Ukraine war, on the fuel cell market in aerospace and defence.

Segment Analysis

By Product Type

• PEMFC (Proton exchange membrane fuel cells)
• SOFC (solid oxide fuel cell)

Where PEMFC dominated the market with an 8.9% revenue share in 2021. The PEMFC is widely used for transportation applications due to its efficiency, compactness, temperature range, etc. As per Honeywell Aerospace, air-cooled PEMFC is best suited for aerospace applications However, in the aviation industry, SOFC is more efficient than PEMFC in terms of output power.

By Application
    o Commercial Aircrafts
    o Rotocrafts
   o Military Drones/UAV
   o Military Vehicles


The commercial segment is projected to garner notable gain over 2023-2031 ascribing to rising domestic and international travels driven by growth in per capita income. Also, the military vehicles segments is predicted to garner substantial returns over the assessment duration due to technological advancements and surging expenditure in the field.

Regional Analysis

North America held the largest revenue share of over 45.0% in 2022 in the aerospace market. The North American fuel cell market is very beneficial for investments in various research projects that are getting commercialize. The United States is one of the major markets for fuel cells and is at the forefront of innovation with support from the country. Department of Energy (DOE). The U.S. Army and Navy are among the largest users of fuel cells in North America. Vendors operating in the market are continuously developing components for fuel cells that are used in rotorcraft.

The European Union has plans to considerably decrease GHG emissions; as a result, several countries in Europe have identified the implementation of innovative technologies, such as fuel cells (primarily PEMFC), as a way to meet these objectives. This, in turn, is expected to provide a significant opportunity for fuel cell manufacturers in the aerospace and defense markets over the forecast period.

Who are the Major Vendors in the Fuel Cells In Aerospace And Defense Market

The report analyses the competitive landscape of the market and provides information on several market vendors, including:

  • Honeywell International Inc.
  • Advent Technologies
  • Infinity Fuel Cell and Hydrogen, Inc.
  • ITM Power
  • Cummins Inc.
  • Australian Fuel Cells Pty Ltd.
  • Intelligent Energy Limited
  • HyPoint, Inc.
  • ElringKlinger AG
  • GenCell Ltd.
  • Plug Power, Inc.

Recent Developments:

  • In January 2021, DLR, Germany’s aerospace center, announced that for the BALIS project, it is developing a 1.5 MW fuel cell powertrain that will be used by aircrafts. The initial focus and goal of this project are the use of fuel cells in the aviation sector and emission-free air transport in Germany.

Segments Covered in the Report

  • Product Outlook (Aerospace) 
    • PEMFC
    • SOFC
  • Product Outlook (Aerospace) 
    • PEMFC
    • SOFC
  • Application Outlook (Aerospace) 
    • Commercial Aircrafts
    • Rotorcrafts
  • Application Outlook (Aerospace) 
    • Military Drones/UAV
    • Military Vehicles

Regional Outlook

  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Norway
    • Netherlands
    • Sweden
    • United Kingdom
    • France
    • Germany
    • Others
  • North America
    • United States
    • Canada
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Others

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global fuel cells in aerospace and defense market is expected to reach USD 1922.33 million by 2031.
The fuel cells in aerospace and defense market is expected to exhibit a CAGR of 31.7% by 2031.
The dominating companies in the fuel cells in aerospace and defense market are Honeywell International Inc., Advent Technologies, Infinity Fuel Cell and Hydrogen, Inc., ITM Power Cummins Inc., Australian Fuel Cells Pty Ltd., Intelligent Energy Limited, HyPoint, Inc., ElringKlinger AG, GenCell Ltd., Plug Power, Inc.

Avail PDF Sample Reports