2024 Aviation and Maritime Industry Technology Analysis for Decarbonizing: Electrification, Alternative Fuels, Hydrogen and Carbon Capture, Utilization and Storage (CCUS)

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Mar 28, 2024, 05:15 ET

DUBLIN, March 28, 2024 /PRNewswire/ -- The "Decarbonizing Aviation and Maritime Industries - 2024" report has been added to ResearchAndMarkets.com's offering.

Aviation and maritime represent two of the most difficult to abate sectors due to their demand for cost-competitive and energy-dense fuels. Due to this requirement, it is likely that both sectors will need to engage with a combination of energy transition technologies to achieve emissions reductions.

While the automotive sector experiences a strong growth in demand for electric vehicles, the aviation and maritime sectors have been slow to decarbonize. To incentivize emission reductions, both sectors have set bold net-zero targets. However, according to the IEA, they remain far off track.
Aviation and maritime represent two of the most difficult to abate sectors due to their demand for cost-competitive and energy-dense fuels.

Due to this requirement, it is likely that both sectors will need to engage with a combination of energy transition technologies to achieve emissions reductions.
This report assesses the suitability of electrification, alternative fuels, hydrogen, and carbon capture, utilization, and storage (CCUS) as energy transition technologies that hold decarbonization potential for both sectors. This report also includes a snapshot of emissions disclosures for both sectors' biggest companies.
For commercial aviation, weight concerns and energy density limitations will restrict electrification to short range or hybrid solutions. Increasing production and cost competitiveness of energy-dense alternative fuels such as sustainable aviation fuels (SAFs) and hydrogen will be key to decarbonizing longer-range flights. The sector is also starting to explore direct air carbon capture to offset its overall emissions.

The maritime sector is well placed to capitalize on all four of the energy transition technologies identified in this report. Biofuels as well as CCUS units fitted to ship exhausts can offer immediate decarbonization. In the long term, ships can be redesigned to increase compatibility with hydrogen (or hydrogen derivatives) and electric propulsion systems. However, the costly nature of these technologies will require substantial policy incentives to drive adoption.

Key Highlights

Although not included in the landmark 2015 Paris Agreement, recent years have seen organizations such as UN bodies and the International Maritime Organization set bold emission reduction targets for the aviation and shipping sectors.
The IEA has revealed that the pandemic caused commercial aviation emissions to drop from 1,000Mt CO2 in 2019 to 600Mt in 2020. An increase in flights towards the end of the year saw emissions increase to 720Mt CO2 in 2021. A wider rebound is expected although emissions remained below pre-pandemic levels throughout 2022. Commercial aviation remains the highest source of individual emissions and this form of transport is experiencing the fastest growth in its emissions.
Likewise, the maritime sector also remains off track for achieving its climate targets, despite the pandemic driving a drop in emissions. Emissions from shipping are also expected to be boosted in 2024 due to rising geopolitical tensions in the Red Sea causing the diversion of ships and the extension of journeys.
Electrifying aircraft and ships would help to increase efficiency, eliminate tailpipe emissions and create opportunities for using renewable energy. However, these two sectors require high density energy sources. The relatively low energy density of batteries will restrict the electrification of both sectors to short journeys for now, unless significant increases in efficiency can be achieved.
Biomass-based alternative fuels offer a way of achieving emission reduction while having to make minimal changes to existing aircraft and vessels, with many biofuels such as renewable diesel and SAFs also having the capability to be blended with conventional fuels for gradual emission reduction.

Scope

Aviation and maritime's current carbon emissions and net-zero goals.
An overview of four technologies that will be key to decarbonizing both sectors, which include electrification, alternative fuels, hydrogen and carbon capture, utilization and storage (CCUS).
Net-Zero targets and scope 1 and 2 emissions for the largest airlines and shipping companies
SAF blending targets for countries and airlines
An assessment of energy transition technologies' suitability for different use cases in aviation and maritime.
Market forecasts for hydrogen, CCS, renewable fuels.
A summary of challenges that will hamper the adoption of these technologies by both industries.
Case studies from companies that are leading both sectors' decarbonization.

Reasons to Buy

Identify the market trends of energy transition technologies within aviation and maritime.
Develop market insight into current rates of technology adoption in aviation and maritime and the factors that will shape both sectors' decarbonization.
Identify the companies most active within electrification, alternative fuels, hydrogen and CCUS technologies in the aviation and maritime industries.

Key Topics Covered:

Executive Summary
Aviation and maritime carbon emissions
Aviation and maritime's contribution to climate change
Aviation and maritime's progress towards net-zero
Introduction to energy transition technologies
Four key energy transition technologies for aviation and maritime
Technologies by decarbonization potential, stage, and suitability for aviation and maritime
Advantages and disadvantages of energy transition technologies
Macroeconomic challenges that will pose a barrier to decarbonization
Aviation and maritime net-zero targets and emissions
Aviation net-zero targets and emissions disclosure
Maritime net-zero targets and emissions disclosure
Electrifying aviation and maritime
Electrification presents decarbonization potential for short journeys
Case studies from aviation and maritime
Alternative fuels in aviation and maritime
Alternative fuel production under a net-zero scenario
National and company SAF targets
Case studies from aviation and maritime
Hydrogen in aviation and maritime
Global hydrogen production and hydrogen production for transport sector
Case studies from aviation and maritime
CCUS in aviation and maritime
Global carbon capture capacity, 2018 - 2030
Case studies from aviation and maritime

A selection of companies mentioned in this report includes

United Airlines Inc
American Airlines Group Inc
Delta Air Lines Inc
AirFrance-KLM Group
Ryanair Holdings plc
International Consolidated Airlines Group S.A
Qantas
The Emirates Group
Qatar Airways Company
Southwest Airlines Co
InterGlobe Aviation Ltd
Turkish Airlines A.O
EasyJet plc
Aeroflot Russian Airlines
Singapore Airlines Ltd
Deutsche Lufthansa AG
Air Canada
A.P. Moller-Maersk Group
Mediterranean Shipping Company
CMA CGM Group
Cosco Shipping
Hapag-Lloyd
Evergreen Marine Corporation
Wallenius Wilhelmsen
Yang Ming Marine Transport Corporation
Mitsui O.S.K Lines (MOL)
Ocean Network Express Holdings Ltd
HMM Co. Ltd
ZIM Integrated Shipping Services Ltd
Wan Hai Lines Ltd
Pacific International Lines (PIL)
Joby Aviation Inc
Honeywell International Inc
Air New Zealand Ltd
Textron Inc
JetBlue Airways Corp
EnerSys Ltd
SkyWest Inc
Flewber Global Inc.
Xeriant Inc
General Electric Co
New Horizon Aircraft Ltd
Airbus Group
Heart Aerospace AB
Elysian Aircraft
Yara International ASA
China Yangtze Power
Wartsila
Wizz Air Holdings Plc
Shell Aviation Ltd
LATAM Airlines
Japan Airlines Co Ltd
Finnair Oyj
Cathay Pacific Airways Ltd
All Nippon Airways
Embraear
BP Plc
ZeroAvia Inc
Exmar LPG
The Boeing Co
Value Maritime
Seabound

For more information about this report visit https://www.researchandmarkets.com/r/a8q3fa

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