The Autonomous Aircraft Market Is Estimated To Reach $1.09 Billion By 2027 At A CAGR Of 6.9% – Includes Autonomous Aircraft Market Trend
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The advancement in artificial intelligence are expected to drive innovation in autonomous aircraft manufacturing, thus driving the market during the forecast period.
The global autonomous aircraft market is expected to grow from $0.77 billion in 2022 to $0.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The global autonomous aircraft market size is expected to grow to $1.09 billion in 2027 at a CAGR of 6.9%.
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Global Autonomous Aircraft Market Segments Include:
- By Technology: Increasingly Autonomous, Fully Autonomous
- By Aircraft Type: Fixed-Wing, Rotary-Wing
- By Application: Cargo Aircraft, Passenger Aircraft
- By End User: Commercial, Defense
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global autonomous aircraft market in 2021.
Major Market Players in the autonomous aircraft market include Boeing, Airbus, Lockheed Martin, Northrop Grumman, Elbit Systems, Raytheon Company, AeroVironment Inc., Saab AB.
The safety concerns related to advanced technologies used in aircraft are a key factor hampering the growth of the autonomous aircraft market. In November 2021, in a US federal court, Boeing admitted fault for the March 2019 crash of an Ethiopian Airlines Boeing 737 Max 8 and promised to make amends to the families of the victims. The new flight control software, as well as sensor flaws that hadn’t been disclosed to the pilots, were found by the investigators.
The Autonomous Aircraft Global Market Report 2023 provides a autonomous aircraft market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The autonomous aircraft market forecast analyzes autonomous aircraft market size, autonomous aircraft market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An autonomous aircraft is an unmanned aircraft that does not require pilot interference in flight management. These are used as personal, passenger, and defense air vehicles.
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