Electric Aviation Market Estimated to
Reach $37 Billion By 2030 as Demand for Environment-Friendly Aircraft Rises;
(NYSE: $KULR) (NASDAQ: $META) (NASDAQ: $NVDA) (NASDAQ: $NNE) (NYSE: $OKLO)
@FNMgroup @KULRTech
Palm
Beach, FL – August 20, 2024 – FN Media Group News Commentary – According to the
International Energy Agency (IEA), global flights produced around 720 million
tons of carbon dioxide in 2021. The global aviation industry produces over 2%
of all the CO2 emissions induced by humans.
With an increase in the number of global aircraft fleet size and air
travel, these numbers are expected to rise even higher. Hence, there has been a
pressing need for electric aircraft, which will help reduce the carbon
footprint of the aviation industry. Organizations and governing bodies such as
the International Civil Aviation Organization, the Federal Aviation
Administration, and the European Union Aviation Safety Agency have called for
sustainable alternatives to aircraft fuel as they estimate that aircraft-generated
emissions are expected to be three-fold in volume by 2050. Since electric
engines do not have noises associated with jet or combustion engines, they
result in no aircraft noise levels. In an electric aircraft, manufacturers aim
to improve efficiency by replacing hydraulically controlled systems with
electric systems. A report from
MarketsAndMarkets projected that the Electric Aircraft Market which was valued
at $8,800 Million in 2022 and is estimated to grow from $10,100 Million USD in
2023 to $37,200 Million USD by 2030 at a CAGR (Compound Annual Growth Rate) of
19.8%. Rising demand for environment-friendly aircraft and the growing
development of UAVs and electric VTOLs are the key factors driving the electric
aircraft market. Active companies in
news today include: KULR Technology
Group, Inc. (NYSE: KULR), Meta Platforms, Inc. (NASDAQ: META), NVIDIA
Corporation (NASDAQ: NVDA), NNE NANO Nuclear Energy Inc. (NASDAQ: NNE), Oslo
Inc. (NYSE: OKLO).
The
MarketsAndMarkets report said: “An electric aircraft uses batteries for power
and propulsion, which is traditionally achieved by fossil fuels. There has been
a growing need for sustainable alternatives to fossil fuel to reduce the carbon
emissions resulting from aircraft, as the global aircraft fleet size and air
travel is expected to increase in the future. Electric aircraft are more
energy-efficient and are considered a cleaner and quieter mode of air travel.
Recent technological advancements in power electronics, battery technologies,
and electrical motors played a major role in driving the market for electric
aircraft. The adoption of electric aircraft is expected to drive value and
unlock significant improvements in terms of aircraft weight, energy efficiency,
total life cycle cost, maintenance, and aircraft reliability. By system, the aerostructures segment is
estimated to dominate the electric aircraft market during the forecast period.
Aerostructures account for the largest share of the total development cost of
an aircraft. Newly developed electric aircraft, especially eVTOL aircraft,
require some of the most advanced materials to make them lightweight while
maintaining their structural strength. These factors contribute to the large
share of the system segment in the electric aircraft market.”
KULR
Technology Group, Inc. (NYSE American: KULR) Partners with Amprius Technologies
to Develop Reference Design to Enhance Battery Safety and Performance in
Advanced Air Mobility – KULR Technology Group, (the “Company” or “KULR”), a
global leader in safe and high-performance energy storage solutions, today
announced it has been selected for a pivotal battery pack reference design
project by Amprius Technologies (NYSE: AMPX), a leader in next-generation
lithium-ion batteries with its Silicon Anode Platform. The final reference
design will provide Amprius’ customers with a solution to address thermal
runaway at the battery pack level that leverages KULR’s advanced energy
management platform, KULR ONE Design Solutions, with Amprius’ high-energy
Silicon Anode pouch cells to meet the rigorous thermal qualification standards
set by the Federal Aviation Administration (FAA) and European Union Aviation
Safety Agency (EASA), ensuring the highest levels of safety and performance.
This partnership is set to push the boundaries of next-generation battery
technology, with a focus on the burgeoning advanced air mobility (AAM) market.
Read
this in full at https://www.financialnewsmedia.com/electric-aviation-market-estimated-to-reach-37-billion-by-2030-as-demand-for-environment-friendly-aircraft-rises/
The
integration of all lithium-ion battery technology into Advanced Air Mobility
(AAM) presents significant challenges, particularly due to the risks of cell
thermal runaway. To address these concerns, the FAA and EASA have established
stringent design regulations to mitigate the risks associated with using lithium-ion
battery packs in electric manned applications. The partnership between Amprius
and KULR is designed to meet these strict safety standards and accelerate the
adoption of Amprius’ high-performance cells in the AAM sector, where their
technology is uniquely positioned to excel.
Driving
Innovation in Battery Technology – The joint effort will explore innovative
methods to enhance battery safety and maximize energy density at the pack
level. By integrating KULR’s advanced thermal management solutions with
Amprius’ high-energy and high-power lithium-ion batteries and cutting-edge
silicon anode technology, the partnership aims to deliver a battery system that
is not only safe but also exceptionally high-performance.
“KULR’s
proven expertise in thermal management and energy storage solutions makes them
an ideal partner for this project,” said Jon Bornstein, President of Amprius
Technologies Lab. “By combining Amprius’ advanced silicon anode battery
technology with KULR’s innovative approach to safety and performance, we are
setting a new standard in the advanced air mobility segment. This partnership
accelerates our ability to meet the stringent requirements of the electric
aviation industry while simultaneously pushing forward the evolution of battery
technology with a focus on safety, efficiency, and market expansion.”
CONTINUED… Read this entire press
release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In
addition to its battery technologies, KULR has a long history of serving the
aviation industry with its KULR VIBE technology which eliminates vibration for
helicopters and drones. Last week during they earnings call, KULR’s CEO was
very excited how KULR VIBE serves the computer server market for Facebook
(NASDAQ: META) and Nvidia (NASDAQ: NVDA) with better cooling technology by
removing vibration in the server’s fans. KULR VIBE can reduce energy use and
cool the hot AI processing chips more efficiently, which has dramatically
increased energy demand for companies like NNE NANO Nuclear Energy Inc.
(NASDAQ: NNE) and Oslo Inc. (NYSE: OKLO), which is backed by Sam Altman of
OpenAI.
In
other developments in the markets of note:
NVIDIA
Corporation (NASDAQ: NVDA) recently announced major advancements to Universal
Scene Description, or OpenUSD, that will expand adoption of the universal 3D
data interchange framework to robotics, industrial design and engineering, and
accelerate developers’ abilities to build highly accurate virtual worlds for
the next evolution of AI.
Through
new OpenUSD-based generative AI and NVIDIA-accelerated development frameworks
built on the NVIDIA Omniverse™ platform, more industries can now develop
applications for visualizing industrial design and engineering projects, and
for simulating environments to build the next wave of physical AI and robots.
Meta
Platforms, Inc. (NASDAQ: META) recently reported financial results for the
quarter ended June 30, 2024. “We had a
strong quarter, and Meta AI is on track to be the most used AI assistant in the
world by the end of the year,” said Mark Zuckerberg, Meta founder and CEO.
“We’ve released the first frontier-level open source AI model, we continue to
see good traction with our Ray-Ban Meta AI glasses, and we’re driving good
growth across our apps.”
NANO
Nuclear Energy Inc. (NASDAQ: NNE), a vertically integrated advanced nuclear
energy and technology company developing portable clean energy solutions,
recently announced that it has signed a Memorandum of Understanding (MOU) with
the Rwanda Atomic Energy Board (RAEB).
The
MOU establishes a framework under which NANO Nuclear work alongside the RAEB to
facilitate the introduction and eventual integration of small modular reactors
(SMRs) and microreactors, like ‘ZEUS’ and ‘ODIN’, NANO Nuclear’s next generation
microreactors in development, throughout the Republic of Rwanda. NANO Nuclear
will also be responsible for enabling the development of the country’s entire
ecosystem of nuclear energy systems. This includes providing technical
assistance, training and educational programs to develop Rwanda’s technical
expertise in the nuclear energy industry.
Oklo
Inc. (NYSE: OKLO), a fast fission clean power technology and nuclear fuel
recycling company, recently announced a key strategic development in its supply
chain management by signing a Preferred Supplier Agreement with Siemens Energy
for the power conversion system of the Aurora powerhouse. This agreement
underscores Oklo’s ambitions to bring cost-efficient advanced fission
technology to market. Building on a previously signed Memorandum of
Understanding, this binding agreement marks a crucial step in Oklo’s vision to
enhance production scalability, cost efficiency, and rapid deployment to meet
growing customer demand.
Siemens
Energy is a supplier of steam turbine and generator technology – rotating
equipment that is part of the conventional island in small and large nuclear
generation plants. Siemens Energy will supply the power conversion and
supporting systems, fostering efficiencies through economies of scale.
Standardizing equipment across Oklo’s powerhouses is expected to result in cost
savings in manufacturing, construction, operations, and maintenance. Utilizing
shared spare parts across deployment is expected to reduce maintenance
downtime, enhance reliability, and improve overall performance.
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