Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Fuel Cells In Aerospace And Defense Market to reach USD1328.3 billion by 2028.

Global Fuel Cells In Aerospace And Defense Market Size study, By Product (PEMFC, SOFC), By Application (Aerospace, Defense), and Regional Forecasts 2022-2028

Product Code: EPPGS-66795205
Publish Date: 25-05-2022
Page: 200

Global Fuel Cells In Aerospace And Defense Market is valued at approximately USD 221.3 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 30.47% over the forecast period 2022-2028. A fuel cell is an electrochemical cell that uses redox processes to transform the chemical energy of a fuel and an oxidizing agent into electricity. This cell is highly adopted for cleanly and efficiently producing electricity. The rising demand for fuel cells in the Aerospace and Defense, increasing investments in the aerospace sector, and availability of favorable government policies are the several major factors that are soaring the market demand across the globe. For instance, according to the India Brand Equity Foundation, in February 2021, 34 aerospace and defense firms invested a total of USD 322.9 million, in boosting the growth of Aviation business in Karnataka, Abhyuday Bharat defense cluster, with an investment project of USD 129.2 million, Gopalan Aerospace Ltd, with an investment proposal of USD 56.6 million, Alpha Design Technology, with an investment proposal of USD 32.3 million, and TESBL Aerospace Corporation, with an investment project of USD 32.3 million, and others. Thus, the rising investment in the aerospace and defense segment is exhibiting a positive influence on the market growth globally. However, the high cost of fuel cells impedes the growth of the market over the forecast period of 2022-2028. Also, various technological advancements and growing demand for non-conventional sources of energy are anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Fuel Cells In Aerospace And Defense Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to public-private partnerships for fuel cell technology development and increasing government investment in private companies. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR of 49.10% by 2027. Factors such as rising defense expenditure, as well as growing focus on renewable energy, would create lucrative growth prospects for the Fuel Cells In Aerospace And Defense Market across the Asia-Pacific region.

Major market players included in this report are:
Advent Technologies
Australian Fuel Cells Pty Ltd.
GenCell Ltd.
Honeywell International Inc.
Infinity Fuel Cell and Hydrogen, Inc.
Intelligent Energy Limited
Plug Power, Inc.
HyPoint, Inc.
Cummins Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
By Application:
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Fuel Cells In Aerospace And Defense Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. Fuel Cells In Aerospace And Defense Market, by Region, 2020-2028 (USD Million)
1.2.2. Fuel Cells In Aerospace And Defense Market, by Product, 2020-2028 (USD Million)
1.2.3. Fuel Cells In Aerospace And Defense Market, by Application, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Fuel Cells In Aerospace And Defense Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Fuel Cells In Aerospace And Defense Market Dynamics
3.1. Fuel Cells In Aerospace And Defense Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Rising demand for fuel cells in the Aerospace and Defense Increasing investments in the aerospace sector Availability of favourable governmental policies
3.1.2. Market Challenges High cost of the fuel cells
3.1.3. Market Opportunities Various technological advancements Rising demand for the non-conventional sources of energy
Chapter 4. Global Fuel Cells In Aerospace And Defense Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Fuel Cells In Aerospace And Defense Market, by Product
6.1. Market Snapshot
6.2. Global Fuel Cells In Aerospace And Defense Market by Product, Performance – Potential Analysis
6.3. Global Fuel Cells In Aerospace And Defense Market Estimates & Forecasts by Product, 2018-2028 (USD Million)
6.4. Fuel Cells In Aerospace And Defense Market, Sub Segment Analysis
6.4.1. PEMFC
6.4.2. SOFC
Chapter 7. Global Fuel Cells In Aerospace And Defense Market, by Application
7.1. Market Snapshot
7.2. Global Fuel Cells In Aerospace And Defense Market by Application, Performance – Potential Analysis
7.3. Global Fuel Cells In Aerospace And Defense Market Estimates & Forecasts by Application, 2018-2028 (USD Million)
7.4. Fuel Cells In Aerospace And Defense Market, Sub Segment Analysis
7.4.1. Aerospace
7.4.2. Defense
Chapter 8. Global Fuel Cells In Aerospace And Defense Market, Regional Analysis
8.1. Fuel Cells In Aerospace And Defense Market, Regional Market Snapshot
8.2. North America Fuel Cells In Aerospace And Defense Market
8.2.1. U.S. Fuel Cells In Aerospace And Defense Market Product breakdown estimates & forecasts, 2018-2028 Application breakdown estimates & forecasts, 2018-2028
8.2.2. Canada Fuel Cells In Aerospace And Defense Market
8.3. Europe Fuel Cells In Aerospace And Defense Market Snapshot
8.3.1. U.K. Fuel Cells In Aerospace And Defense Market
8.3.2. Germany Fuel Cells In Aerospace And Defense Market
8.3.3. France Fuel Cells In Aerospace And Defense Market
8.3.4. Spain Fuel Cells In Aerospace And Defense Market
8.3.5. Italy Fuel Cells In Aerospace And Defense Market
8.3.6. Rest of Europe Fuel Cells In Aerospace And Defense Market
8.4. Asia-Pacific Fuel Cells In Aerospace And Defense Market Snapshot
8.4.1. China Fuel Cells In Aerospace And Defense Market
8.4.2. India Fuel Cells In Aerospace And Defense Market
8.4.3. Japan Fuel Cells In Aerospace And Defense Market
8.4.4. Australia Fuel Cells In Aerospace And Defense Market
8.4.5. South Korea Fuel Cells In Aerospace And Defense Market
8.4.6. Rest of Asia Pacific Fuel Cells In Aerospace And Defense Market
8.5. Latin America Fuel Cells In Aerospace And Defense Market Snapshot
8.5.1. Brazil Fuel Cells In Aerospace And Defense Market
8.5.2. Mexico Fuel Cells In Aerospace And Defense Market
8.6. Rest of The World Fuel Cells In Aerospace And Defense Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Advent Technologies Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Australian Fuel Cells Pty Ltd.
9.2.3. GenCell Ltd.
9.2.4. Honeywell International Inc.
9.2.5. Infinity Fuel Cell and Hydrogen, Inc.
9.2.6. Intelligent Energy Limited
9.2.7. Plug Power, Inc.
9.2.8. HyPoint, Inc.
9.2.9. Cummins Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now