and France have all set ambitious targets for “clean” hydrogen production by 2030, although it is unclear whether the 10 GW target set by the previous UK government for 2030 has been maintained by the new government.14 Latin America continued to make gains due to its vast renewable energy resources. The International Energy Agency (IEA) reports that if all the clean hydrogen projects in the pipeline globally were to materialize, the sector would see an annual growth rate of 90% between 2024 and 2030, even faster than historical solar energy deployment.15 However, many believe this rate is unrealistic given that, as for SAF projects, clean hydrogen deployment has recently seen delays and setbacks amid unclear demand and financing hurdles, as well as regulatory uncertainty and complexity, including on additionality rules.16,17 In the US, the delayed 45V incentives guidance released by the previous Biden administration in January 2025 received mixed reactions due to its perceived complexity, with further uncertainty around the future of these incentives under the second Trump administration.18 Europe has seen similar regulatory challenges, with a proposed windfall tax in Spain (now discontinued) blamed for stalling electrolytic hydrogen projects.19 Such uncertainties can slow production, but experts believe supply will keep growing in 2025, alongside demand for the product. Hydrogen demand is likely to have reached almost 100 Mt in 2024, but most of this growth comes from the refining and chemicals sectors, rather than to fuel new aviation- related technologies. The cost of clean hydrogen will impact both SAF adoption and its commercial feasibility for direct use in aircraft and ground-handling infrastructure. The latest BloombergNEF short- and long-term forecasts for clean hydrogen production costs, published in 2024, were revised upwards as a result of higher electrolyser costs, risk-free financing costs and power pricing agreement (PPA) prices.20 Despite these supply, demand and cost trends, the aviation executives interviewed for this report were not overly worried about the cost and availability of clean hydrogen at this stage. This may reflect the still limited uptake of this energy vector in aviation, both for airports use as well as for aircraft propulsion (see section below). Other than as an input for SAF production, hydrogen use in aviation as of 2024 has predominantly been limited to a number of airport trials for storing and liquefying hydrogen, or testing hydrogen refuelling systems. Among the airports looking into this, Toronto Pearson, Dubai, Kansai, Christchurch and Dallas Fort Worth continue to explore hydrogen production, storage, distribution and use. Meanwhile, Bristol Airport saw the first airside hydrogen refuelling trial ever to take place at a UK airport, in partnership with EasyJet.21 These airport efforts are connected to Airbus’s plans to develop a global ecosystem with airports to ensure the necessary infrastructure is in place for future hydrogen aircraft.22 Other activities include the exploration of co- locating hydrogen production facilities within airport boundaries and partnerships across the value chain – one example is the collaboration between the Port of Rotterdam and Rotterdam The Hague Airport announced in 2024.23 Where preliminary assessments of hydrogen use at airports have been completed, stakeholders consulted for this report were more concerned with techno-economic feasibility, including the cost of conversion between ammonia, liquid and gaseous hydrogen, the potential safety hazards of operations and the energy lost in conversion processes. Many agreed that the business case for onsite hydrogen (or SAF) production would need to be supported by government policy to be profitable, as it will not benefit from process synergies typically found in traditional refineries. Respondents also suggested that co-location with renewable energy sources would improve electrolyser utilization, reduce electricity network costs and ultimately make hydrogen production more cost-effective.24 In 2025, it is uncertain whether airport trials looking to use hydrogen will expand further (see next section), but some of the stakeholders interviewed believe aviation will face growing challenges in securing hydrogen for both SAF production and refining, as well as for zero-emission propulsion and infrastructure. As countries grapple with higher- than-expected green hydrogen costs and increased competition across regions, many stakeholders expect that blue or even grey hydrogen will be seen as more acceptable, but this will have implications on the eligibility of fuels under government incentives. Some of the industry stakeholders interviewed mentioned geologic hydrogen as an upcoming area of interest for their business, alongside pink hydrogen from nuclear energy via small modular reactors (SMRs). As of 2024, 68 active SMR designs were being taken forward globally;25 meanwhile the European Union may assess – as soon as early 2025 – whether to relax current regulations to allow nuclear energy to produce hydrogen and fuels.26 The availability of clean hydrogen is increasing globally, with over 1,500 large-scale projects announced and significant investments being made, particularly in Europe, North America and China. 2025 marks a pivotal year as we transition from development to full commercialization of power-to-liquid SAF. With strong value chain partnerships—from CO2 and hydrogen to drop-in fuel—we are ready to scale. Regulatory incentives at the EU level further accelerate this progress, driving sustainable aviation forward. Tim Böltken, Chief Executive Officer, Ineratec Global Aviation Sustainability Outlook 2025 16