The autonomous aircraft global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Autonomous Aircraft Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The autonomous aircraft market size has grown rapidly in recent years. It will grow from $0.92 billion in 2023 to $1.05 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to safety and efficiency, military and defense applications, commercial use cases, regulatory developments.
The autonomous aircraft market size is expected to see strong growth in the next few years. It will grow to $1.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to urban air mobility (uam), environmental concern, environmental concerns, technological refinement. Major trends in the forecast period include connectivity and 5g, advanced sensors and perception systems, autonomous cargo delivery, artificial intelligence and machine learning.
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Scope Of Autonomous Aircraft Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Autonomous Aircraft Market Overview
Market Drivers –
The advancement in artificial intelligence is a key factor driving the growth of the autonomous aircraft market. Through managing aircraft and activities with AI-powered technologies, airlines and flight operators will dramatically reduce their operating costs and expenses. Artificial intelligence is now being used by the world’s leading airlines to boost operating performance, prevent expensive errors, and increase customer loyalty. For instance, Airbus, one of the largest aerospace companies, is currently using AI to analyze data from multiple factories and determine when manufacturing process variations take place. It helps to resolve the problems sooner, when it’s faster and less costly, or even fully avoid them. Therefore, advancements in artificial intelligence are expected to drive the growth of the autonomous aircraft market.
Market Trends –
Major companies operating in the autonomous aircraft market are developing new products such as autonomous electric cargo airplanes to meet larger customer bases, more sales, and increase revenue. An Autonomous Electric Cargo Airplane is an unmanned aerial vehicle designed for transporting cargo or freight, typically using electric propulsion systems. For instance, in January 2023, Pyka, a US-based developer of autonomous electric aircraft, launched Pelican Cargo, the first autonomous vehicle of its kind and the largest zero-emission cargo aircraft. The Pelican Cargo platform is going to enhance express logistics networks, enable connectivity for isolated rural communities, and guarantee quick and dependable access to essential goods and supplies for areas in need. It has a range of up to 200 miles, a payload capacity of up to 400 pounds in 66 cubic feet of cargo volume, and a nose-loading configuration with a sliding cargo tray. It is intended to completely eliminate CO2 emissions from the supply chain of goods while providing a significant speed advantage over ground transportation and operating costs that are far lower than those of traditional air transportation.
The autonomous aircraft market covered in this report is segmented –
1) By Technology: Increasingly Autonomous, Fully Autonomous
2) By Aircraft Type: Fixed-Wing, Rotary-Wing
3) By Application: Cargo Aircraft, Passenger Aircraft
4) By End User: Commercial, Defense
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Regional Insights –
North America was the largest region in autonomous aircraft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the autonomous aircraft market during the forecast period. The regions covered in the autonomous aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the autonomous aircraft market include The Boeing Company, Airbus SE, Lockheed Martin Corporation, Northrop Grumman Corporation, Elbit Systems Ltd., Raytheon Technologies Corporation, AeroVironment Inc., Saab Group, BAE Systems plc, Aeronautics Ltd., General Atomics Aeronautical Systems Inc., Airobotics Ltd., Aston Martin Lagonda Global Holdings plc, Aurora Flight Sciences a Boeing Company, Bell Textron Inc., Embraer S.A., Joby Aviation Inc., Karem Aircraft Inc., Lift Aircraft Inc., Piasecki Aircraft Corporation, Planck Aero Inc., PrecisionHawk Inc., SkyLights Inc, Volocopter GmbH, Wing, Textron Inc., Israel Aerospace Industries Ltd. (IAI), Collins Aerospace a Raytheon Technologies company, Opener Inc., Xwing Inc.
Table of Contents
- Executive Summary
- Autonomous Aircraft Market Report Structure
- Autonomous Aircraft Market Trends And Strategies
- Autonomous Aircraft Market – Macro Economic Scenario
- Autonomous Aircraft Market Size And Growth
…..
- Autonomous Aircraft Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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