Global Autonomous Aircraft Market Size By Technology(Fully Autonomous, Increasingly Autonomous), By End-Use(Commercial Aircraft, Cargo and Delivery Aircraft), By Component(Flight Management Computers, Sensors, Intelligent Servos), By Geographic Scope And Forecast
Global Autonomous Aircraft Market Size By Technology(Fully Autonomous, Increasingly Autonomous), By End-Use(Commercial Aircraft, Cargo and Delivery Aircraft), By Component(Flight Management Computers, Sensors, Intelligent Servos), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Autonomous Aircraft Market Size By Technology(Fully Autonomous, Increasingly Autonomous), By End-Use(Commercial Aircraft, Cargo and Delivery Aircraft), By Component(Flight Management Computers, Sensors, Intelligent Servos), By Geographic Scope And Forecast
Autonomous Aircraft Market Size and Forecast
Autonomous Aircraft Market size was valued at USD 4.2 billion in 2021, it is expected to reach USD 23.7 billion by the end of 2030, growing at a CAGR of 16.9% from 2023 to 2030.
The increasing advancements in artificial intelligence are driving growth in the Autonomous Aircraft Market globally. The Global Autonomous Aircraft Marketreport provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Autonomous Aircraft Market Definition
The unmanned aerial vehicle (UAV) market focused on creating and commercializing autonomous UAVs has been referred to as the autonomous aircraft market. To navigate, interact, and perform different tasks separately, these types of aircraft are outfitted with modern technologies including artificial intelligence, machine learning, detectors, and communications systems.
There are numerous uses on the marketplace, such as those for military, business, and private usage. Examples involve carrying out missions of search and rescue, transporting freight, and surveying and mapping. The market is going to grow rapidly as a result of increasing demand for low-cost and efficient means of transportation as well as the requirement for better security and safety precautions. Major aerospace firms, defense suppliers, and new technology companies are among the market’s key players.
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Autonomous Aircraft Market Overview
The COVID-19 epidemic has had an inconsistent impact on the demand for autonomous airplanes. While the demand for unmanned systems has surged in some sectors, like as military operations and logistics, it has decreased in others, such as passenger unmanned aircraft, primarily a result to travel limitations and measures to distance themselves from society.
Various factors contribute to the market for autonomous aircraft. The rising demand for UAVs, or unmanned aerial vehicles, for a range of uses, including military, advertisement, and private use, is one of the main drivers. In terms of efficiency and effectiveness, these aircraft’s capacity to fly autonomously—without human intervention—is an important advantage. The increasing need for better security and safety measures, especially in the defense and homeland security sectors, is another motivating factor. Without risking human life, autonomous airplanes may be utilized in rescue and search missions as well as reconnaissance and monitoring flights. The autonomous aircraft business is growing due to advances in technology, particularly in fields like machine learning, artificial intelligence, and sensors. UAVs are now able to function in a broader range of conditions and carry out more complex duties thanks to today’s technology.Although the market for autonomous aircraft is growing quickly, several barriers could limit its growth in the future. The regulatory environment is one of the main barriers as there are still numerous concerns about the approval and implementation of autonomous aircraft in numerous countries. A major barrier to entry for fresh players in the market could be posed by the high expenses related to the creation and installation of these aircraft. The growth of autonomous aircraft could also be limited by privacy and security concerns, especially in the commercial and personal sectors. At last, there may be an obstacle to the market’s expansion due to the technical limitations of present unmanned aircraft technology, like as battery life and distance.
The market for autonomous aircraft provides an abundance of potential opportunities despite the challenges posed by legal frameworks, high costs, security issues, and technological limits. Autonomous aircraft have a chance to replace conventional manned planes in a variety of contexts, from military and logistics to transportation and private use, as technology develops. A substantial opportunity for market growth is offered by the rising demand for environmentally friendly options in addition to the growing need for more efficient and quicker transportation. Collaboration between big aerospace and defense industries and technological companies may also help to spur research and hasten the implementation of autonomous airplane technological advances.
Autonomous Aircraft MarketSegmentation Analysis
The Autonomous Aircraft Market is segmented by technology, end-use, component, and geography.
Autonomous Aircraft Market, By Technology
Fully Autonomous
Increasingly Autonomous
The fully autonomous segment is leading the autonomous aircraft market. It can be analyzed that current aircraft are becoming fully automated due to which this segment is growing rapidly.
Autonomous Aircraft Market, By End-Use
Commercial Aircraft
Cargo and Delivery Aircraft
Air Medical Services
Combat and ISR
The commercial aircraft segment is expected to grow with a healthy CAGR in the forecast period. This is because of the increasing adoption of autonomous aircraft for various applications.
Autonomous Aircraft Market, By Components
Flight Management Computers
Sensors
Intelligent Servos
Radars and Transponders
On the basis of Components, the Autonomous Aircraft Market is segmented into Flight Management Computers, Sensors, Intelligent Servos and Radars and Transponders
Autonomous Aircraft Market, By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
North America is witnessing the highest growth in this market and holds the highest share. This region is focusing on developing autonomous aircraft due to which this market is growing rapidly.
Key Players
The key players in the autonomous aircraft market are Boing, Rockwell Collins, Airbus, Northrop Grumman, Lockheed Martin, Elbit Systems, BAE Systems, Textron, AeroVironment, and Israel Aerospace Industries.
Key Developments
In May 2021, the autonomous SkyRaider drone from Northrop Grumman, which could potentially be used for surveillance, reconnaissance, and intelligence operations, finished a successful flight test.
In February 2021, Airbus declared to launch its new drone delivery platform, Skyways. It can deliver parcels within urban environments with the help of autonomous drones.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Boing, Rockwell Collins, Airbus, Northrop Grumman, Lockheed Martin, Elbit Systems, BAE Systems, Textron, AeroVironment, and Israel Aerospace Industries.
SEGMENTS COVERED
By Technology, By End-Use, By Component, and By Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the Market based on segmentation involving both economic as well as non-economic factors• Provision of Market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the Market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the Market within each region• Competitive landscape which incorporates the Market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major Market players• The current as well as the future Market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the Market of various perspectives through Porter’s five forces analysis• Provides insight into the Market through Value Chain• Market dynamics scenario, along with growth opportunities of the Market in the years to come• 6-month post-sales analyst support
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