Autonomous Aircraft Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Autonomous Aircraft Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Autonomous Aircraft Market

The Autonomous Aircraft market size was valued at USD 6.28 billion in 2022, and the market is now projected to grow from USD 7.20 billion in 2023 to USD 22.71 billion by 2030, exhibiting a CAGR of 17.8% during the forecast period of 2023-2030.

Since the onset of the Coronavirus Disease of 2019 which has impacted so many sectors globally; one of the hardest hit has been air travel with a loss estimated at 419 Billion Dollars in US currency terms. A total of 25million people employed in aviation lost their jobs while passenger traffic dropped by 60%. there has been an upsurge in the demand for Autonomous Aircrafts where passengers are carried without pilots or Unmanned Aerial Vehicles which help transport valuable things especially during these pandemics like corona-virus in Autonomous Aircraft market growth.

Goods and services are delivered by airplanes in countries such as the US, Singapore, the UAE, and China. Medicines are distributed, emergencies are responded to by airplanes within healthcare. Besides, they bring provisions during natural disasters like tsunamis hence underlining their significant function in crisis response and humanitarian aid in Autonomous Aircraft market share.

Airbus SAS, Boeing, Lockheed Martin Corporation and Northrop Grumman Corporation use AI and the IoT to construct and control their aircraft.EXIT Mentioned firms are currently using AI and IoT to design and operate their aircraft.

Comprehensive Analysis of Autonomous Aircraft Market

The Autonomous Aircraft market and Aerospace & Defence industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by Aircraft Type Analysis, by Component Analysis, by Technology Analysis, by End User Analysis. The Aircraft Type Analysis, fixed-wing and rotary-wing. the Component Analysis, radars & transponders, propulsion systems, actuation system, air data inertial reference units, flight management computers, and others. The Technology Analysis, fully autonomous and increasingly autonomous (IA). The End User Analysis,air medical service, commercial aircraft cargo and defense, delivery aircraft, and others.

The North America region lead the Autonomous Aircraft market by benefitting a market size of USD 2.37 billion in 2022 due to increasing demand from the military sector for combat operations and surveillance applications. have better infrastructure facilities for aircraft.

The top players in the market play a crucial role in the Aerospace & Defence industrial prospectus growth and setting market standards. These players include, BAE Systems (U.K.), Airbus S.A.S. (Netherlands), Elbit Systems (Israel), Boeing (U.S.), Embraer (Brazil), AeroVironment, Inc. (U.S.), Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), Saab AB (Sweden), Raytheon Technologies (U.S.), these market players provide a level-playing competitive landscape.

In January 2023, An agreement that is significant was sealed between Natilus, an organization in the U.S. pioneering self-flying planes for green cargo movement. It was $ six billion in total commitment when it purchased 20 Natilus Kona feeders worth one hundred and thirty-four million dollars hence making Ameriflight the first regional Airlines within America to acquire them.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate 17.8% CAGR

Unit Value (USD billion)

Segmentation By Aircraft Type

Fixed-Wing

Rotary-Wing

By Technology

Increasingly Autonomous (IA)

Fully Autonomous

By Component

Radars & Transponders

Propulsion Systems

Actuation System

Air Data Inertial Reference Units

Flight Management Computers

Others

By End-User

Air Medical Service

Commercial Aircraft

Defense

Cargo & Delivery Aircraft

Others

By Geography

North America (Aircraft Type, Technology, Component, End-User)

- U.S. (End-User)

- Canada (End-User)

Europe (Aircraft Type, Technology, Component, End-User)

- U.K. (End-User)

- Germany (End-User)

- France (End-User)

- Russia (End-User)

- Rest of Europe (End-User)

Asia Pacific (Aircraft Type, Technology, Component, End-User)

- Japan (End-User)

- China (End-User)

- India (End-User)

- South Korea (End-User)

- Rest of Asia Pacific (End-User)

Rest of the World (Aircraft Type, Technology, Component, End-User)

- Middle East and Africa (End-User)

- South America (End-User)


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