SAN FRANCISCO, Jan. 12, 2022 /PRNewswire/ — The global fuel cells in aerospace market size is expected to reach USD 1,618.33 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 30.6% from 2021 to 2028. Growing awareness regarding alternative sources of energy is one of the major factors contributing to the growth of the market.
Key Insights & Findings from the report:
In the aerospace industry, the PEMFC product segment accounted for the largest revenue share of over 85.0% in 2020. In the defense industry, PEMFC is used in various applications such as military vehicles and military drones
In the defense industry, the military vehicles application segment accounted for the largest revenue share of over 50.0% in 2020. Vendors operating in the military vehicles market are partnering with fuel cell technology…