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Market Growth: The global aircraft fuel cells market is projected to grow from $1.9 billion in 2024 to $4.7 billion by 2030, with a CAGR of 16.4%, driven by the aviation sector's shift towards sustainable technologies and compliance with emission regulations.
Regional Insights: North America leads the market with a 39.8% share in 2024, supported by advanced aerospace policies and major manufacturers like Boeing, while Europe is expected to have the fastest growth rate of 26.3% due to aggressive decarbonization goals.
Fuel Type Dominance: Hydrogen fuel cells are the most popular, accounting for 60.1% of the market in 2024, due to their high energy density and zero-carbon emissions, although biofuel-based fuel cells are anticipated to grow rapidly at a CAGR of 20%.
Technological Advancements: Proton Exchange Membrane Fuel Cells (PEMFCs) dominate the technology segment with a 62.2% market share, while Solid Oxide Fuel Cells (SOFCs) are expected to see the fastest growth due to their efficiency and adaptability in various applications.
