Autonomous aircraft Market Size Worth USD 32.51 Billion in 2032 | Emergen Research

Vancouver, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The global autonomous aircraft market size was USD 6.73 Billion in 2022 and is expected to register a rapid revenue CAGR of 17.1% during the forecast period. Rising demand for Unmanned Aerial Vehicles (UAVs), rapid increase in cost- cutting in the airline companies, savings in aviation fuels, and efficiency of aircraft flight operations, lesser time consumption and faster flight operations of cargo aircrafts are major factors driving market revenue growth.

Major benefits of using autonomous aircraft are that these are piloted remotely without an on-board pilot, enter environments that are too dangerous for human life, remain in the air for prolonged periods of time, effectively provide remote operators with precise and accurate information, and provide short and efficient routes thus efficiently saving fuel. The commercial aviation industry's current pilot crisis highlights the necessity of creating cutting-edge autonomous technology, hence there has been increase in technological advancements for autonomous flight.

Major aviation companies, such as Boeing and Airbus, are investing in autonomous aircraft technology. For instance, on 26 January 2022, Boeing Co. announced the investment of USD 450 million in the development of Wisk Aero LLC's all-electric, autonomous air taxi, which might eventually be used for commercial flights. Wisk is constructing an eVTOL aircraft to obtain the nation's first-ever certification as an autonomous, all-electric, passenger carrier aircraft.

The new product launches by different companies is another factor driving revenue growth of the market. For instance, on 30 January 2023, Pyka, the pioneer in autonomous electric aviation technology, revealed the Pelican Cargo, the newest member of its fleet of specially designed industrial aircraft. Pelican freight is the first autonomous vehicle of its kind and the largest zero-emission freight airplane in the world, with unheard-of payload and range capabilities.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2036

The communications and data collection, cyber and security breach, and adaptive/nondeterministic decision-making are major factors, which could restrain market revenue growth. Moreover, software malfunctioning while ground- handling the autonomous aircraft and hijack concerns that result in severe data and privacy breaches and life- risking conditions in the passengers on board are other factor, which could restrain market revenue growth.

Segment Insights

Technology Insights:

On the basis of technology, the global autonomous aircraft market is segmented into increasingly autonomous and fully autonomous.

The fully autonomous is expected to register steadily fast market growth rate in the global autonomous aircraft market during the forecast period. This is due to rising adoption of technologically advanced systems by different companies for improving the efficiency of their products and new product launches by Research & Development (R&D) programs by government backing. One of the key benefits of fully autonomous aircraft is their capacity to operate continuously, without the need for rest periods and with improved resource economy, which resulted in increased operational effectiveness and cost- cutting by lowering the environmental impact of air travel.

For instance, on 1 July 2022, Defence Research and Development Organization (DRDO) announced the successful completion of the first test flight of a brand-new Unmanned Aerial Vehicle (UAV), an autonomous Flying Wing Technology Demonstrator where the aircraft demonstrated a flawless flight while operating in fully autonomous mode, including takeoff, waypoint navigation, and a soft touchdown.

End- Use Insights:

On the basis of end- use, the global autonomous aircraft market is segmented into commercial aircraft, combat and Intelligence, Surveillance, and Reconnaissance (ISR), cargo and delivery aircraft, passenger air vehicle, personal air vehicle, air medical services, and others.

The cargo and delivery aircraft segment is expected to account for significantly large market share in the global autonomous aircraft market during the forecast period. This is due to new product launches and new upgrades and deals by different companies. Faster delivery time is one of the most important advantages of deploying autonomous aircraft for cargo transport. Autonomous aircraft fly directly to their destination since these are not constrained by conventional air traffic patterns or schedules.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @https://www.emergenresearch.com/request-discount/2036

Regional Insights:

Asia Pacific is expected to account for considerably large market share in the global autonomous aircraft market during the forecast period. This is attributed to increasing number of initiatives for setting up new branches and collaborations between different companies. For instance, on 5 November 2023, Japan Airlines (JAL) and Wisk Aero, an Advanced Air Mobility firm, collaborated to introduce Wisk's self-flying, all-electric air taxi services to Japan. Wisk and JAL Engineering (JALEC) will also collaborate closely to create strategies for the upkeep and operation of Wisk's autonomous air taxis.

North America accounted for largest market share in the global autonomous aircraft market in 2022This is owing to rapid technological advancements and adoption of upgraded systems by major companies. For instance, on 2 March 2023, Parallel Flight Technologies, a pioneer in autonomous heavy-lift drone technology announced a deal with Cathy Press to head its Canadian operations, with a base in Vancouver which will enable Parallel Flight to establish its first physical presence in Canada. This will strategically act as a worldwide anchor to support the company's ability to sell and support cutting-edge autonomous, heavy-lift vertical flight systems to clients in a variety of industries.

Scope of Research

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2036

Major Companies and Competitive Landscape

The global autonomous aircraft market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective solutions. Some major players included in the global autonomous aircraft market report are:

• AIRBUS
• Boeing
• Collins Aerospace
• Lockheed Martin Corporation
• Northrop Grumman
• Elbit Systems Ltd.
• Textron Inc.
• Saab AB
• BAE Systems
• AeroVironment, Inc.

Strategic Development

• On 28 March 2023, Airbus Defence and Space and Airbus UpNext, the company's fully owned subsidiary, accomplished in-flight autonomous guidance and control of a drone using an A310 MRTT.
• On 7 February 2023, Skydweller Aero Inc., an aerospace company developing solar-powered aircraft for the defense and commercial industries announced the successful completion of the first autonomous flight test demonstrations using the company's new proprietary Fly-By-Wire (FBW) actuation control system.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/autonomous-aircraft-market

For the purpose of this report, Emergen Research has segmented the global autonomous aircraft market on the basis of component, technology, end- use, and region:

• • Component Outlook (Revenue, USD Billion; 2019-2032)
  • • Flight Management Computers
    • Air Data Inertial Reference Units
    • Sensors
    • Actuation Systems
    • Software
    • Intelligent Servos
    • Cameras
    • Radars and Transponders
    • Propulsion Systems
  • Technology Outlook (Revenue, USD Billion; 2019-2032)
  • • Increasingly Autonomous
    • Fully Autonomous
  • End-use Outlook (Revenue, USD Billion; 2019-2032)
  • • Commercial Aircraft
    • Combat and ISR
    • Cargo and Delivery Aircraft
    • Passenger Air Vehicle
    • Personal Air Vehicle
    • Air Medical Services
    • Others
  
  
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

Emergen Research is Offering Exclusive Customization as per your Specific Requirements@ https://www.emergenresearch.com/request-for-customization/2036

 About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Japanese Version: Autonomous Aircraft Market

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-autonomous-aircraft-market