ZERO EMISSION AIRCRAFT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Developments

• In May 2023, Alaska Airlines partnered with ZeroAvia to work on developing the world's largest zero-emission aircraft. This project aims to change regional air travel by introducing hydrogen-electric propulsion technology, which could significantly reduce carbon emissions in the aviation industry and promote the growth of sustainable, zero-emission aircraft.
• In 2021, a U.K.-based Electric Vertical Take-off and Landing (eVTOL) aircraft manufacturer, Vertical Aerospace, merged with Special Purpose Acquisition Company (SPAC), Broadstone Acquisition Corp. This merger was intended to provide Vertical Aerospace with the necessary funding to build and market its eVTOL aircraft.
• Also in 2021, U.S.-based eVTOL aircraft producer, Archer Aviation, announced a merger with Atlas Crest Investment Corp. This merger was aimed at accelerating the development and production of Archer Aviation's eVTOL aircraft and transitioning the company into a publicly traded entity.
• In 2020, a Germany-based aviation company, Lilium, and SPAC Qell Acquisition Corp announced a merger agreement. The purpose of this merger was to give Lilium access to additional funding, enabling it to ramp up production of its electric vertical take-off and landing (eVTOL) aircraft and expand its market presence.