Hybrid Electric Jet Market, By Type (Ultralight Aircraft and Light Jets), By End User (Military and Commercial), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Jun 2023

Code : CMI1510

Pages :155

Formats :

Excel and PDF

Industry : Aerospace and Defense

Market News

Global Hybrid Electric Jet Market: Key Developments

On February 6, 2023, The AirCraft company revealed about Pangea* hybrid-electric airliner family with the SY30J becoming the first member of the family. The design work on this family of airplanes started over a year ago. The airplane has been presented to some airlines with favorable reviews. Stay tuned for more updates coming in the months to come

On November 30, 2022, Airbus and Renault Group, worldwide leaders in the aerospace and automotive industries, have signed a research and development agreement which aims at enhancing transversalities and synergies to accelerate both companies’ electrification roadmaps, improving their respective range of products.

In July 2022, ZeroAvia, Developer of hydrogen-electric aircraft announced that it had secured US$ 30 million in additional funding.

In December 2021, Researchers at Embry-Riddle Aeronautical University received a US$ 625,000 grant from the Federal Aviation Administration (FAA) to improve the safety of a new class of electric propulsion-powered aircraft. Therefore, increasing funding and investment for electric aircraft research and development (R&D) significantly accelerates the market's expansion.

In August 2020, for carbon-neutral hybrid electric aviation, the Department of Energy (DOE) announced funding of $33 million. The Australian government granted Dovetail Electric Aviation a grant of $ 3 million ($2 million) in January 19, 2023 to help it convert turbine-powered aircraft to electric-powered ones.