Fuel Cells In Aerospace And Defense Market is expected to expand at a CAGR of 30.6% from 2021 to 2028
Fuel Cells In Aerospace And Defense Industry Overview The global fuel cell in aerospace market size was valued at USD 193.87 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 30.6% from 2021 to 2028. The global fuel cell in defense market size was valued at USD 444.70 million in 2020 and is anticipated to grow at a CAGR of 10.7% over the forecast period. The North American market for fuel cells in aerospace and defense is driven by significant support from the federal government of the countries. In the European region, the U.K. is the leading market for fuel cells in aerospace and defense. A rise in demand for non-conventional energy sources is one of the key factors fostering the growth of the market. Fuel cells are one of the fastest-growing alternative solutions, primarily due to their ability to generate electricity using a variety of fuels. In addition, unlike conventional sources, they are eco-friendly in nature as their byprod...