Hybrid-Electric Aircraft Market Size To Reach USD 19,681.6 Million In 2032

2025-06-06 10:03:39

(MENAFN- Market Press Release) June 5, 2025 2:10 am - The Hybrid-Electric Aircraft market, valued at USD 3,551.7 million in 2024, is expected to register robust revenue CAGR of 23.8%. Request free copy of this report:

June 05, 2025 - The growing prevalence of chronic illnesses is a major factor driving revenue growth in the Hybrid-Electric Aircraft market. Progress in battery and electric propulsion systems is a major factor driving revenue growth in the hybrid-electric aircraft market. Innovations in battery technology are essential for the advancement of electric and hybrid aircraft. High-energy-density batteries are now more efficient and lighter, addressing earlier limitations that hindered electric aviation development. These advancements support longer flight times, expanding the practical use cases for electric and hybrid aircraft.

In January 2025, Swiss drone innovator Dufour Aerospace achieved a significant milestone by completing its first flight test campaign with an internally developed hybrid-electric powertrain for its Aero2 drone. Conducted in Zurich, the test flights demonstrated the hybrid system's ability to recharge its batteries mid-flight. This achievement brings Dufour's vision of a hybrid-electric tilt-wing aircraft with autonomous capabilities closer to reality.

However, the limited energy density of current batteries presents a major challenge to market growth. One of the primary hurdles for hybrid aircraft is the inadequacy of existing battery technology. Although electric motors are more efficient than conventional engines, they depend on large batteries to supply the necessary power. Present-day batteries offer restricted range and remain relatively heavy, making them impractical for use in larger aircraft. Furthermore, hybrid aviation faces significant infrastructure limitations. There is a shortage of charging stations for electric aircraft, and many airports lack the specialized infrastructure-such as charging systems and maintenance facilities needed to support hybrid operations.

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Segments market overview and growth Insights
Based on the lift technology, the Hybrid-Electric Aircraft market is segmented into Conventional Take-Off and Landing (CTOL), Short Take-Off and Landing (STOL), and Vertical Take-Off and Landing (VTOL). CTOL aircraft are built to operate from standard runways, requiring a specific distance for takeoff and landing. In recent years, there have been notable strides in incorporating hybrid-electric propulsion into CTOL designs to boost fuel efficiency and minimize environmental impact.

In November 2024, Electra introduced its groundbreaking EL9 Ultra Short hybrid-electric aircraft concept-a nine-passenger, piloted aircraft designed for a more sustainable aviation future. The EL9 aims to revolutionize air travel by reducing reliance on traditional airports while cutting down on emissions and noise. Capable of taking off and landing in just 150 feet, the aircraft cruises at 175 knots. It is equipped to carry nine passengers with luggage or up to 3,000 pounds of cargo over 330 nautical miles, and it offers a maximum ferry range of 1,100 nautical miles with IFR reserves.

Regional market overview and growth insights
North America held the largest market share in the Hybrid-Electric Aircraft market in 2024, driven by advancements in battery and electric propulsion technologies and rising demand for Urban Air Mobility (UAM) & eVTOLs. In December 2023, Electra was selected by the U.S. Air Force's AFWERX innovation program to receive a Strategic Funding Increase (STRATFI) award. This award secures up to USD 85 million through a combination of private investment, government support, and matching Small Business Innovation Research (SBIR) funds to support Electra's development of a full-scale pre-production prototype of its hybrid-electric short takeoff and landing (eSTOL) aircraft.

Competitive Landscape and Key Competitors
The Hybrid-Electric Aircraft market is characterized by a fragmented structure, with many competitors holding a significant share of the market. List of major players included in the Hybrid-Electric Aircraft market report are:

oHoneywell International Inc.
oHeart Aerospace
oAmpaire Inc.
oElectra
oAirbus SE
oRaytheon Technologies
oLockheed Martin Corporation
oNorthrop Grumman Corporation
oThe AirCraft Company
oThe Boeing Company
oGE Aerospace
oVoltAero
oJoby Aviation, Inc.
oRobinson Aircraft Ltd
oOdys Aviation

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Major strategic developments by leading competitors
Vertical Aerospace: In May 2025, Vertical Aerospace revealed plans to develop a hybrid-electric version of its VX4 vertical take-off and landing (VTOL) aircraft, aiming to enhance its range and payload capacity to tap into new market segments. This hybrid-electric approach builds upon the company's fully electric VX4 model and aligns with its Flightpath 2030 strategy. The expanded capabilities are expected to open new applications across defense, logistics, and commercial sectors.

Electra: In April 2025, Electra announced it has raised USD 115 million in Series B funding to advance the EL9-the world's first Ultra Short aircraft-into its pre-production and certification stages. The EL9 can take off and land within just 150 feet, requiring only about 10% of the space needed by conventional aircraft of similar size. The funding round was led by Prysm Capital.

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Navistrat Analytics has segmented hybrid-electric aircraft market based on platform type, component, lift technology, energy source, range, aircraft type:
.Platform Type Outlook (Revenue, USD Million; 2022-2032)
oFixed-Wing Aircraft
oRotary Wing Aircraft
oDrone
.Component Outlook (Revenue, USD Million; 2022-2032)
oArtificial Intelligence (AI)
oMachine Learning (ML)
oBig Data Analytics
oInternet of Things (IoT)
oCloud Computing
.Lift Technology Outlook (Revenue, USD Million; 2022-2032)
oConventional Take-Off and Landing (CTOL)
oShort Take-Off and Landing (STOL)
oVertical Take-Off and Landing (VTOL)
.Energy Source Outlook (Revenue, USD Million; 2022-2032)
oBattery
oFuel Cell
oInternal Combustion Engine
oHybrid Electric Propulsion System
.Range Outlook (Revenue, USD Million; 2022-2032)
oShort Range
oMedium Range
oLong Range
.Aircraft Type Outlook (Revenue, USD Million; 2022-2032)
oCargo Transport
oPassenger
oUrban Air Mobility
oMilitary
.Regional Outlook (Revenue, USD Million; 2022-2032)
oNorth Benelux
g Countries
h of Europe
oAsia Pacific
a Japan
d Oceania
f Countries
g of APAC
oLatin Brazil
b of LATAM
oMiddle East & Africa
a Countries
b Turkey
e of MEA

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