Hybrid Aircraft Market Size Expected To Reach $13.2 Billion By 2030 As Demand Grows For Commercial Applications; @FNMgroup @KULRTech
Palm Beach, FL – April 2, 2024 – FN Media Group News Commentary – According to a report from MarketsAndMarkets projected that the Hybrid Aircraft Market size is estimated to grow from USD 1.2 billion in 2023 to USD 13.2 billion by 2030, at a CAGR of 41.6% from 2023 to 2030. It said: “The Hybrid Aircraft Industry is driven by factors such as increasing demand for short haul range connectivity, technological convergence and increasing demand for alternate modes of transportation. Short-haul range connectivity refers to air travel over relatively short distances, typically between nearby cities or regions. These flights are usually within a few hundred to a few thousand kilometers, and they are commonly served by regional airlines or low-cost carriers. Short-haul flights are essential for connecting smaller cities, supporting regional economies, and providing convenient transportation options for travelers. Hybrid aircraft, especially those with electric propulsion systems as primary source, are well-suited for short-haul flights because they can operate with greater fuel efficiency compared to traditional aircraft. Electric propulsion systems have the potential to significantly reduce fuel consumption and operating costs, which is particularly attractive for airlines operating frequent short-haul flights. Short-haul flights, despite their relatively short distances, can collectively contribute to a substantial carbon footprint due to the high number of takeoffs and landings involved. Hybrid aircraft offer the advantage of reduced emissions and lower noise levels, making them more environmentally friendly.
Read this in full at https://www.financialnewsmedia.com/hybrid-aircraft-market-size-expected-to-reach-13-2-billion-by-2030-as-demand-grows-for-commercial-applications/
Short-haul flights often operate in and out of airports located in or near urban areas. Hybrid aircraft, particularly those with electric propulsion, produce less noise during takeoff and flight, making them more suitable for operating in noise-sensitive regions. This can lead to reduced community opposition and support for expanding regional flight operations.” Active defense stocks in news today include: KULR Technology Group, Inc. (NYSE: KULR), Joby Aviation, Inc. (NYSE: JOBY), Lilium N.V. (NASDAQ: LILM), Archer Aviation Inc. (NYSE: ACHR), Blade Air Mobility, Inc. (NASDAQ: BLDE).
MarketsAndMarkets continued: “Hybrid-electric aircraft can have faster charging times compared to traditional aircraft refueling processes, which can be advantageous for airlines running frequent short-haul flights. This reduces turnaround times at airports, enabling more efficient flight scheduling and improved utilization of aircraft. Short-haul flights serve regional markets, connecting smaller cities and remote locations that may not have the infrastructure to accommodate large airports. Hybrid aircraft can offer flexible and economically viable solutions for regional air travel, supporting regional connectivity and economic development. High chance of Governments and regulatory bodies prioritizing and supporting the development and adoption of hybrid aircraft for short-haul flights could be seen in upcoming years. They recognize the potential environmental and economic benefits of such hybrid-aircraft in reducing emissions, noise pollution, and enhancing regional connectivity. As hybrid aircraft technology continues to advance, their capabilities, reliability, and performance improve, making them increasingly viable for short-haul operations. Advancements in battery technology, electric motors, and power management systems contribute to the feasibility of electric and hybrid-electric aircraft for regional flights.”
KULR Technology Group, Inc. (NYSE American: KULR) Secures Over $1M Contract from H55 for Proprietary, Patented Thermal Runaway Shield Technology – KULR Technology Group, (the “Company” or “KULR”), renowned for its contributions to sustainable energy management, today unveiled a commitment exceeding $1 million with H55 Inc. (“H55”), a pioneer and global leader in electric propulsion. H55 will employ KULR’s unique Thermal Runaway Shield (“TRS”) within its propulsion systems that equip fleets of industry behemoths such as Pratt & Whitney and CAE Inc. (NYSE: CAE). According to the agreement, the initial delivery phase began in Q1 2024. Embedding KULR’s TRS into H55’s Electrical Propulsion System (“EPS”) is critical for aligning with the European Union Aviation Safety Agency (“EASA”) safety protocols. H55 harnesses KULR’s innovative TRS to construct systems that adhere to stringent safety measures while retaining efficiency and energy density. EASA recently approved the H55 EPS solution, paving the way for the critical compliance demonstration phase of their certification program (https://h55.ch/news/).
Michael Mo, CEO of KULR, reflected on the significance of this collaboration. “Working with H55 epitomizes our commitment to setting new standards for safety in electric aviation. With H55, we reinforce our role in addressing the escalating compliance requisites from regulatory bodies such as EASA and the FAA. Our goal is to ensure our technology not only fulfills but also anticipates the evolving safety needs of the electric aviation sector.”
Martin Larose, CEO of H55, also acknowledged the positive side of this collaboration. “Tightening the relationship with KULR has marked a transformative step for us. The TRS technology from KULR has enabled us to push the safety norms and position H55 as a global leader. We are equipped to offer products that defy the rigorous requirements of EASA while preserving the high caliber and compactness our clients rely on. This synergy with KULR promises significant progress.”
According to a recent forecast, the global hybrid aircraft market is estimated to grow from USD 1.2 billion in 2023 to USD 13.2 billion by 2030, at a CAGR of 41.6% from 2023 to 2030. KULR continues to pioneer revolutionary energy management solutions, propelling the electric aviation industry forward. CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In other defense industry developments of note:
Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, recently announced it has acquired an existing facility at Dayton International Airport and begun hiring in support of the Company’s initial manufacturing operations in Dayton, Ohio.
The facility acquired by Joby will be fitted out to support initial manufacturing operations in Dayton, which are expected to begin later this year. The facility will be used for the manufacturing of aircraft parts in support of Joby’s Pilot Production Line in Marina, California.
Joby’s acquisition of the on-airport facility is the first step in the Company’s plan to develop facilities capable of building up to 500 aircraft per year in Dayton, which is expected to include the design and construction of a larger greenfield factory.
Lilium N.V. (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has recently teamed up with Atlantic Aviation, a leading fixed-based operation (FBO) and aviation services provider, to prepare Atlantic’s network of more than 100 FBOs for the Lilium Jet’s regional upcoming air mobility service launch in the United States.
This strategic partnership will work to ensure seamless compatibility between the Lilium Jet and Atlantic’s network of aviation assets across North America, enabling Advanced Air Mobility operations at current and future locations. Atlantic operates sites at more than 30 airport locations within Lilium’s planned launch markets in Florida, Southern California, the Northeast corridor, and Texas.
Archer Aviation Inc., (NYSE: ACHR) a leader in the development of electric vertical takeoff and landing (“eVTOL”) aircraft, recently announced the successful completion of rigorous battery pack drop testing conducted at a National Institute for Aviation Research lab. This marks a significant milestone in the development of the company’s proprietary electric propulsion system for its Midnight aircraft in what is seen as one of the most difficult tests to pass for an eVTOL aircraft, putting Archer in a strong position to successfully complete this same test in upcoming for-credit testing with the FAA.
Over the course of this week, Archer’s engineering and certification teams led Midnight’s proprietary battery packs through three 50-foot drop tests simulating extreme impact scenarios. Tested at varying states of charge, 0%, 30%, and 100%, the battery packs withstood the impact without any signs of failure and, remarkably, continued to function properly.
Blade Air Mobility, Inc. (NASDAQ: BLDE), recently announced financial results for the fourth quarter ended December 31, 2023. “After a rewarding year of strong growth, flight profit margin expansion and cost structure improvements, we are now confident to begin providing guidance to our investors for positive Adjusted EBITDA for the year-ending December 31, 2024 and double-digit Adjusted EBITDA in 2025(2),” said Rob Wiesenthal, Blade’s Chief Executive Officer. “Though Q4 is a seasonally light quarter for Blade, we remained focused on continued margin enhancement and significant additions to our dedicated aircraft fleet, highlighted by the acquisition of eight jets for our organ transportation business. These initiatives will further improve our competitive positioning without compromising the benefits of our asset-light model, as the vast majority of our Medical flights and nearly 100% of our Passenger flights will continue to be serviced by third-party owned and operated aircraft.”
“We’ve made huge progress transitioning more and more of our Medical flights to dedicated aircraft that provide us with fixed cost leverage as we grow and are strategically based near our hospital customers,” said Will Heyburn, Blade’s Chief Financial Officer. “This is a win-win that has enabled us to increase our Flight Profit per trip while reducing costs for our hospital customers. When paired with our growing fleet of medical vehicles and new organ placement offering, we believe we’ve built the most cost-effective and reliable end-to-end organ logistics platform in the United States. At the same time, we improved our Passenger flight profit margins by five percentage points in Q4 2023 versus the prior year, demonstrating our path to full-year profitability in the Passenger segment, which we expect in 2025.”
About FN Media Group:
At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies.
Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia
Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup
Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated forty two hundred dollars for news coverage of the current press releases issued by KULR Technology Group, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757
SOURCE: FN Media Group
No comments:
Post a Comment