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
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.
So, what's fueling the market for self-flying aircraft? Well, for starters, there's a huge appetite for UAVs (that's unmanned aerial vehicles) for all sorts of stuff – from the military to advertising, and even just for personal use. The fact that these aircraft can fly all by themselves, without needing a pilot, is a big deal when it comes to getting things done efficiently and effectively. Plus, there's a growing need for better safety and security, particularly in defense and homeland security. Think about itautonomous aircraft can handle risky search and rescue missions, as well as reconnaissance and monitoring, all without putting human lives in danger. And let's not forget the technological leaps we've made, especially in machine learning, artificial intelligence, and sensors. These advances mean UAVs can now handle more complex tasks and fly in a wider range of conditions. But, even though the market is booming, there are a few things that could slow it down. One big issue is the regulatory side of things. There are still lots of questions about how these aircraft will be approved and used in different countries. The high costs of developing and deploying these aircraft could also make it tough for new companies to break into the market. And, of course, there are concerns about privacy and security, especially when it comes to commercial and personal use. Finally, the technology itself still has limitations, like battery life and range, which could put a cap on how much the market can grow.
Think of the autonomous aircraft market like thiseven though there are hurdles like figuring out the legal stuff, dealing with expensive tech, keeping things secure, and pushing the limits of what's possible, there's a ton of promise! As the tech gets better, autonomous aircraft could step in for regular planes in all sorts of areas, from the military and getting supplies where they need to go, to zipping people around and even just personal flying. Plus, with everyone wanting greener options and faster ways to travel, there's a huge chance for the market to grow. And if the big guys in aerospace and defense team up with tech companies? That could really speed up research and get this technology off the ground even faster!
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
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We dig deep into the Market, using both qualitative and quantitative analysis, breaking it down by segments based on things like the economy, but also other stuff that matters. We'll give you the Market value in USD Billion for every segment and sub-segment. You'll see which region and segment we think will grow the fastest and be the biggest. Plus, we analyze each region geographically, looking at how much of the product/service is being used and what's affecting the Market there. Check out our competitive landscape that ranks the major players in the Market and highlights new service/product launches, key partnerships, business expansions, and acquisitions from the last five years. We offer detailed company profiles with overviews, insights, product comparisons, and SWOT analyses for the big names in the Market. Get a look at the current and future Market outlook, considering recent happenings, opportunities, what's driving growth, and the challenges in both up-and-coming and established regions. We give you a thorough analysis through Porter's five forces and offer insight through the Value Chain. Expect a Market dynamics scenario, showing potential for growth in the years ahead, and get 6 months of analyst support after the sale.
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