Liquid hydrogen (LH2) may enable the decarbonisation of long-haul aviation. However, its low volumetric energy density and subsequent tank space and weight requirements could penalise an aircraft's specific energy consumption (SEC, MJ/tonne-km). We evaluate the impacts of developments in four technology areas – aerodynamics, structures, cryo-tank gravimetric index (η), and overall efficiency (ηo) – on the design-point performance of a large subsonic tube-wing LH2 aircraft. We characterise the critical value of η, which must be exceeded to enable a given design range. For a design range of 14,000 km, η must exceed 0.52 today but only 0.35 with expected 2030 airframe and engine efficiency improvements. Using the most optimistic technology development estimates we observe that SEC could reduce by ∼25% via improvements in ηo and aerodynamics and by 33% via improvements in all four areas. Developments in technologies to improve ηo and reduce drag are critical to enabling zero-carbon long-haul air travel.