Autonomous Aircraft Market 2016 Report Explores Future Investment, Growth Opportunities And Forecast 2025

A recent report published by QMI on Autonomous Aircraft Market is a detailed assessment of the most important market dynamics. After carrying out thorough research of autonomous aircraft market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for autonomous aircraft during the forecast period. It can enable manufacturers of autonomous aircraft to change their production and marketing strategies in order to envisage maximum growth.

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According to the report, the autonomous aircraft market growth is expected to gain high momentum during the forecast period due to the increasing use of automation systems across various aircraft by different industries.

ICAO, the International Civil Aviation Organization, has defined an "autonomous aircraft" as a fully automated or unmanned aircraft that does not require pilot intervention to fly the aircraft. To some extent, the existing aircraft being used by both civil and military organizations require operators 'guidance and autopilot functionality. Similarly, unmanned aircraft are engineered to assist operators whenever they need it.

Segmentation for better understanding of this market and its growth prospects:
The software segment is expected to dominate the market during the forecast period based on components. The component-based market for autonomous aircraft is fragmented into flight management computers, air data inertial reference units, sensors, actuation systems, software, intelligent servos, cameras, radars & transponders, and propulsion systems. During the forecast period, the segment of flight management computers is anticipated to lead to the autonomous aircraft market. During the forecast period, the software segment is projected to grow at the highest rate. The most essential components that monitor and control aircraft autonomy is the flight management computer. As aircraft move towards full autonomy, higher demand is expected from software algorithms that provide instructions to the aircraft.

The fully autonomous segment is set to dominate the market during the forecast period based on technology. The autonomous aircraft market is segmented into an increasingly autonomous and fully autonomous based on technology. The fully autonomous segment is expected to grow at the highest rate owing to expanding aircraft autonomy and shifting towards aircraft in the future being completely autonomous. Military UAVs are already operating with fully autonomous capabilities at present. Due to the installation of autonomous components that have eased the workload of pilots, current commercial aircraft are becoming increasingly autonomous. The industry's goal is to make these commercial aircraft fully autonomous and introduce new passenger and personal aircraft along with fully autonomous commercial delivery drones.

The commercial aircraft segment is expected to dominate the market during the forecast period based on application. The market for autonomous aircraft has been segmented and evaluated based on end-use in commercial aircraft, combat & ISR, cargo & distribution aircraft, passenger aircraft, private aircraft, air medical facilities, and others. During the forecast period, the commercial aviation segment is projected to lead the autonomous aircraft. Current commercial aircraft are being installed with components of autonomy rendering them increasingly autonomous. Increasing air passenger traffic in commercial aircraft has culminated in this segment leading the segment of the application of autonomous aircraft.

It is anticipated that North America will dominate the global autonomous aircraft market and remain dominant in the coming years. This is due to the growing number of companies in the region's global autonomous aircraft market, which are investing more in R&D operations. These activities can drive robust technological advancement and are likely to lead to global autonomous aircraft market growth.

Significant Factors Impacting Market Growth:
o Increasing use of automation systems across various industries
o Increasing efficiency and inhibition of error rates due to the use of autonomous systems
o The high initial cost of investment

Important Developments provided in this study:
o In July 2018, Northrop Grumman received a contract from the US Air Force to deliver Global Hawk, an autonomous aircraft equipped with Battlefield Airborne Communications Node (BACN). The BACN acts as a gateway that translates and distributes battlefield information acquired from various sources.
o In August 2018, Boeing received a contract worth USD 805 million from the US NAVY for the engineering and manufacturing of 4 MQ-25 aerial refueling unmanned aircraft.
o In 2019, helicopter-maker Sikorsky has shown their intentions to develop a fully autonomous system, primarily for helicopters. This kind of investment by key players in the market is benefiting market growth.
o In 2019, the U.S. Air Force has put a call for use of unmanned vehicles during transportation or majorly during the searching and rescue operations. These autonomous aircraft or vehicles can carry four people at a time, which is equipped with medical care.
o In February 2018, AeroVironment received a contract from the Canadian Navy for the supply of Puma II AE, a UAS equipped with a Mantis i45 sensor and a 360-degree antenna system.

Insights about regional distribution of market:
The market has been segmented in major regions to understand the global development and demand patterns of this market. For autonomous aircraft market, the segments by region are for North America, Asia Pacific, Western Europe, Eastern Europe, Middle East, and Rest of the World. During the forecast period, North America, Asia Pacific and Western Europe are expected to be major regions in the autonomous aircraft market.

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North America and Western Europe have been dominant players in this market with the presence of major companies which have a strong infrastructure to boost aerospace & defense sector. In addition, some of the major countries like the US, France, UK, and Canada has been global exporters of aerospace & defense technologies due to established research & development centers, and others. Also, some of the major companies operating in autonomous aircraft market are headquartered in these regions.

The Asia Pacific region is estimated to register fastest growing autonomous aircraft market since some of the major economies like China, India, and South Korea are present in the region. In recent decades, these countries have witnessed strong government spending on defense infrastructure, as well as promoting air transport and space research. During the forecast period, the Middle East region is estimated to be a potential region for autonomous aircraft market in the aerospace and defense sector. It is estimated that Eastern Europe will have stable demand during the forecast period. Also, the rest of the world is expected to be an emerging market with increasing demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Boeing
2. Airbus
3. Lockheed Martin
4. Northrop Grumman
5. and Elbit Systems.

Market Segmentation:
By Technology:
o Increasingly Autonomous
o Fully Autonomous
By Component:
o Cameras
o Software
o Intelligent Servos
o Air Data Inertial Reference Units
o Flight Management Computers
o Radars & Transponders
o Propulsion Systems
o Actuation System
By Application:
o Commercial
o Combat & ISR
o Cargo Passenger
o Air Vehicle
o Personal Air Vehicle
o Air Medical Services
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Technology
o By Component
o By Application
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Technology
o By Component
o By Application
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Technology
o By Component
o By Application
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Technology
o By Component
o By Application
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Technology
o By Component
o By Application
o Rest of the World
o By Region (South America, Africa)
o By Technology
o By Component
o By Application

Reasons To Buy This Report:
o Market size estimation of the global autonomous aircraft market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Contact:

Quince Market Insights
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Pune, Maharashtra 411028
Phone: +91 706 672 5858 / +91 706 672 5858 / +91 706 672 4848
Email: sales@quincemarketinsights.com
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This release was published on openPR.