THE STATE OF SUSTAINABLE AVIATION TECHNOLOGIES 2024
EXECUTIVE SUMMARY The aviation industry faces urgent pressure to decarbonise. While its contribution to global carbon emissions is estimated at 2.5%, that number rises to 4% when non-CO2 emissions are considered. Recognising the critical nature of the climate crisis, the industry is exploring several technology levers to decarbonise.
In the short to medium term, sustainable aviation fuel (SAF) is crucial for near-term decarbonisation. The SAF market is projected to grow from $430 million to over $27 billion by 2032, driven by regulatory mandates and industry commitments.
Hydrogen presents a promising long-term solution for aviation, with potential applications in fuel cells, combustion engines, and e-fuel production. The global hydrogen market across all industries could reach $1.4 trillion by 2050.
Electric aviation shows potential for short-haul flights and regional connectivity. The electric aviation market is expected to grow from $8.5 billion in 2023 to $23.5 billion by 2031, focusing on battery technology advancements and infrastructure development.
Carbon Dioxide Removal (CDR) technologies, including Direct Air Capture (DAC), are gaining traction as complementary solutions to emissions reduction efforts. The CDR market could reach $1.2 trillion by 2050.
Sustainable cabin design and waste reduction present significant opportunities, with the aircraft cabin interiors market projected to reach $74 billion by 2033.
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