Global Autonomous Aircraft Market Size, Share & Trends Analysis Report, By Aircraft Type, By Component, By Technology, By End User, By Region Forecasts, 2024-2032

Global Autonomous Aircraft Market Size, Share & Trends Analysis Report, By Aircraft Type, By Component, By Technology, By End User, By Region Forecasts, 2024-2032

Global Autonomous Aircraft Market was valued at US $ 7.20 Billion in 2023 and is expected to reach US $ 22.71 billion by 2032 growing at a CAGR of 17.8% during the forecast period 2024 – 2032.

IoT, artificial intelligence, and a decline in human error in aviation operations all contribute to more effective operations and reasonably priced solutions to issues related to market expansion. Adoption of Internet of Things (IoT) and AI-based technologies, which offer enhanced speed, accuracy, precision, and dependability as well as real-time operator feedback, has surged in recent years.

The market for autonomous aircraft is expanding due to increased financing for the manufacture of next-generation aircraft without human intervention. Consequently, during the projected period, the worldwide autonomous aircraft market will rise as a result of the large sums of money anticipated to be invested in the research and practical application of completely autonomous military and commercial aircraft. This can be attributed to the rapidly emerging and widely used applications of emerging technologies such as Internet of Things (IoT) and artificial intelligence (AI), which are driving the market's expansion.

Additionally, initiatives are underway to lower operational costs, do away with human error, and enhance overall system performance by implementing AI-driven IoT for the development of autonomous aircraft globally. Operators can obtain real-time data, speed, accuracy, precision, and precision through the application of AI and IoT, all of which are factors that are contributing to the increased acceptance of autonomous aviation. Recent increases in e-commerce growth rates and corporate internationalisation have significantly increased the demand for cargo transportation.

“Rotary wing segment, by aircraft type, to be dominating market from 2023 to 2030.”

The rotary-wing category is leading this market. Because of its vertical takeoff and landing capability, which reduces space requirements, it can be used in crowded cities. The rise in the use of rotary wings for combat and surveillance support is the main factor driving this growth.

During the forecast period, fixed-wing aircraft would have the highest growth. Improved aerodynamics, more cargo adaptability, and enhanced operation efficiency are a few of the factors driving expansion. Because of its dual sensor arrangement, it can be used for both life-saving military operations and search and rescue missions. This also applies to the fixed-wing variant with its long payload range.

“Flight management computers segment, by component, to be fastest growing market from 2023 to 2030.”

The segment with the fastest predicted compound annual growth rate during the forecast period is predicted to be flight management computers. This is because flight management computers are being used more frequently to guarantee peak performance and real-time data. Flight management software controls every aspect of an unmanned vehicle. Because of the software's autonomous ability to collect and process data, users have begun to request more from it.

“Cargo & Delivery Aircraft segment, by end user, to be fastest growing market from 2023 to 2030.”

Cargo and delivery is anticipated to increase at the quickest rate of all the aforementioned industries as they transport cargo, including food, from large retailers like Walmart and McDonald's. The defence sector, which uses sophisticated aerial assets for battle, reconnaissance, and other tactical missions, holds the largest portion of the market share.

“North America to be largest region in Autonomous Aircraft market.”

North America will continue dominating the market all through the forecast period. The enlargement of the business sector, as well as more money spent on research and development (R&D) in North America, will drive the growth of the North American market. In addition, the growth of market is influenced by major market leaders such as Boeing Company, Lockheed Martin Corporation among others.

Autonomous Aircraft Competitive Landscape

The competitive landscape of the Autonomous Aircraft market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Autonomous Aircraft technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Autonomous Aircraft market is highly competitive, with numerous companies vying for market share. Prominent companies in the Autonomous Aircraft Market include:

Major Players:

Airbus S.A.S. (Netherlands), Boeing (U.S.), Elbit Systems (Israel), BAE Systems (U.K.), Embraer (Brazil), Lockheed Martin Corporation (U.S.), AeroVironment, Inc. (U.S.), Northrop Grumman Corporation (U.S.), Saab AB (Sweden), Raytheon Technologies (U.S.), and others.

Recent Developments:

In November 2023, Airbus launched autonomous aircraft division in the USA. Within its US affiliate, Airbus plans to establish a new ""purpose-built"" division devoted to unmanned aviation systems. In order to take advantage of the growing demand for unmanned aircraft, Airbus plans to expand its footprint in the lucrative defence industry, where it already holds a smaller market share than competitors Boeing, Lockheed Martin, and Northrop Grumman. The Zephyr project, which aims to create a solar-powered, ultra-long endurance prototype that can reach stratospheres, is one area where Airbus has great potential.

In December 2022, Natilus, Inc., the first American company specialising in the development of autonomous aircraft meant for environmentally friendly cargo transportation, achieved a significant milestone when it inked a contract with Ameriflight, one of the country's oldest regional operators. It is evident that Ameriflight has several benefits in the freight operations industry. The initial purchase of 460 aircraft has delivery commitments totaling US$6,800 million, including a US$134 million contract awarded to Ameriflight for 20 Natilus Konas feeders.

October 2022: In light of this, Reliable Robotics has been granted a phase III Small Business Innovation Research SBIR contract by the Air Force Research Laboratory (AFRL) in order to further confirm the safety and functionality of remotely piloted aircraft systems in more environmentally conscious situations. In phases I, I11, and III, respectively, the government has awarded Reliable SBIR contracts to boost the autonomous potential of ongoing aircraft programmes.

Guardian Agriculture signed a multimillion-dollar arrangement with Wilbur Ellis, a distributor of chemicals and agricultural products, beginning in June 2022. Wilbur-Ellis clients get exclusive access to this cutting-edge technologies thanks to this partnership.