Autonomous Aircraft Market

Market Overview:

The global autonomous aircraft market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.1 Billion by 2028, exhibiting a growth rate (CAGR) of 18.30% during 2023-2028. The growing safety concerns regarding pilots being exposed to hazardous and dangerous environments, the rising need for more efficient and cost-effective operations in the aerospace and defense industry, and the augmenting demand for unmanned aerial vehicles (UAVs) in a wide range of end-use applications represent some of the key factors driving the market. 

Autonomous aircraft, also referred to as unmanned aerial vehicles (UAVs) or drones, are aircraft that can fly without a human pilot. They are equipped with sensors, GPS, cameras and communication systems that allow them to navigate, sense their surroundings, and make decisions without human intervention. From small handheld devices to large commercial aircraft, these aircraft can be programmed to carry out specific tasks, such as surveying land, tracking wildlife, transporting packages, or delivering packages. In addition to this, they can be used for search and rescue operations, combat missions in military operations, environmental monitoring, and disaster response. Some of the advantages of autonomous aircraft include reduced risks to human pilots in hazardous or dangerous environments, improved efficiency and speed compared to manual operation, reduced operation costs, and enhanced data collection and analysis. In general, autonomous aircraft can be controlled remotely or through automated systems, and they can be used for various purposes, including military, civil, and commercial.

Autonomous Aircraft Market Trends:

The global market is primarily driven by the augmenting demand for unmanned aerial vehicles (UAVs) in a wide range of end-use applications. This can be attributed to the rising safety concerns regarding pilots being exposed to hazardous and dangerous environments. In line with this, continual technological advancements in artificial intelligence (AI), the internet of things (IoT), and machine learning (ML) technologies enabling the development of more sophisticated autonomous systems are providing an impetus to the market. Moreover, numerous upgradation in the aerospace and defense industry, along with the rising need for more efficient and cost-effective operations, are creating a positive outlook for the market. The market is further fueled by an enhanced focus on reducing carbon emissions and sustainable development, resulting in a shifting preference toward autonomous aircraft from traditional aircraft. In addition to this, continual product innovations, such as the introduction of electric propulsion and vertical takeoff and landing (VTOL) systems for more feasible and practical aircraft, are impacting the market positively. Apart from this, considerable rise in investments in autonomous aircraft by government bodies and private organizations across the globe is creating lucrative growth opportunities in the market. Some of the other factors contributing to the market include rapid industrialization, extensive research and development (R&D) activities, inflating disposable income levels, and numerous strategies like mergers and acquisitions (M&As), partnerships, and collaborations adopted by key players.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global autonomous aircraft market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on component, technology, aircraft type, and end use. 

Component Insights:

• Flight Management Computers
• Air Data Inertial Reference Units
• Sensors
• Actuation Systems
• Software
• Intelligent Servos
• Cameras
• Radars and Transponders
• Propulsion Systems
   

The report has provided a detailed breakup and analysis of the autonomous aircraft market based on the component. This includes flight management computers, air data inertial reference units, sensors, actuation systems, software, intelligent servos, cameras, radars and transponders, and propulsion systems. According to the report, flight management computers represented the largest segment. 

Technology Insights: 

• Increasingly Autonomous
• Fully Autonomous
   

The report has provided a detailed breakup and analysis of the autonomous aircraft market based on the technology. This includes increasingly autonomous and fully autonomous. According to the report, fully autonomous represented the largest segment. 

Aircraft Type Insights: 

• Fixed Wing
• Rotary Wing
   

The report has provided a detailed breakup and analysis of the autonomous aircraft market based on the aircraft type. This includes fixed wing and rotary wing. According to the report, rotary wing represented the largest segment. 

End Use Insights: 

• Commercial Aircraft
• Combat and ISR
• Cargo and Delivery Aircraft
• Passenger Air Vehicle
• Personal Air Vehicle
• Air Medical Services
• Others
   

A detailed breakup and analysis of the autonomous aircraft market based on the end use has also been provided in the report. This includes commercial aircraft, combat and ISR, cargo and delivery aircraft, passenger air vehicle, personal air vehicle, air medical services, and others. According to the report, commercial aircraft accounted for the largest market share. 

Regional Insights: 

• North America 
  • United States 
  • Canada 
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain 
  • Others 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa 
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for autonomous aircraft. Some of the factors driving the North America autonomous aircraft market included its continual technological advancements, considerable growth in the aerospace and defense industries, inflating disposable income levels, etc.  

Competitive Landscape: 

The report has also provided a comprehensive analysis of the competitive landscape in the global autonomous aircraft market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Aerovironment Inc., Airbus S.A.S., BAE Systems plc, Bell Textron Inc. (Textron Inc.), Elbit Systems Ltd., Kitty Hawk Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, Saab AB, The Boeing Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report. 

Report Coverage:

Key Questions Answered in This Report: 

• How has the global autonomous aircraft market performed so far, and how will it perform in the coming years? 
• What are the drivers, restraints, and opportunities in the global autonomous aircraft market? 
• What is the impact of each driver, restraint, and opportunity on the global autonomous aircraft market? 
• What are the key regional markets? 
• Which countries represent the most attractive autonomous aircraft market? 
• What is the breakup of the market based on the component? 
• Which is the most attractive component in the autonomous aircraft market? 
• What is the breakup of the market based on the technology?
• Which is the most attractive technology in the autonomous aircraft market? 
• What is the breakup of the market based on the aircraft type? 
• Which is the most attractive aircraft type in the autonomous aircraft market? 
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the autonomous aircraft market? 
• What is the competitive structure of the global autonomous aircraft market? 
• Who are the key players/companies in the global autonomous aircraft market? 

Key Benefits for Stakeholders: 

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the autonomous aircraft market from 2017-2028.  
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global autonomous aircraft market.  
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region. 
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the autonomous aircraft industry and its attractiveness. 
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.