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

The global autonomous aircraft market size was USD 6.73 Billion in 2022 and is expected to register a steady revenue CAGR of 17.1% during the forecast period, according to latest analysis by Emergen Research. Rising adoption of new technologies, rapid increase in cost-cutting in airline companies, , and reduction of human error and in-flight operation failures are key factors driving market revenue growth. An autonomous aircraft is the next-generation aircraft that can fly using automated control systems, without the intervention of a human pilot in the cockpit. In addition, increasing use of Artificial Intelligence (AI) technology is another key factor driving revenue growth of the market. Use of autonomous aircraft has many advantages, including the ability to be flown remotely without an on-board pilot, enter environments that are too dangerous for human life, stay in the air for extended periods of time, effectively provide remote operators with precise and accurate information, and offer short, efficient routes, thereby saving fuel.

The latest market intelligence study, called "Global Autonomous Aircraft Market Forecast to 2032," jots down some of the most prominent growth potentials of the global Autonomous Aircraft market. The report is primarily targeted at the industry stakeholders looking to capitalize on this report's contents to make improved business decisions. The report is further intended to help the readers gain vital insights into the global market, particularly the prevailing growth opportunities and competitive scenario. The insightful data & information provided by this report are gathered from various primary and secondary sources.

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Some Key Highlights From the Report
• The flight management computers segment accounted for largest revenue share in the global autonomous aircraft market in 2022. This is because Flight Management System (FMS) gives pilots autonomy to determine the most fuel-efficient flight paths, minimizing airline fuel costs. This system permits pilots to autonomously navigate safely around traffic and hazards, such as weather, provides managers the flexibility to change individual or fleet-wide priorities while aircraft are in operation, and lessens controller workload associated with traffic. In addition, various technologically enhancements by different companies for their existing and upcoming products are other factors driving revenue growth of this segment during the forecast period. For instance, on 3 November 2022, AVIonics expert CMC Electronics of Canada was approved by autonomous flight pioneer Merlin Labs to power its autonomous flight systems. Merlin will use CMC Electronics PU-3000 avionics computer, the first multicore mission computer to receive civil certification to house its autonomous flight-control software.

• The fully autonomous segment is expected to register steadily fast revenue growth rate in the global autonomous aircraft market during the forecast period. This is due to increasing need for full autonomous aircraft to operate continuously, without the need for breaks, and with a greater efficiency of resources. The environmental impact of air travel is diminished due to the increased operational effectiveness, which also generates considerable financial savings for airlines. The autonomous aircraft increases safety by lowering the likelihood of human error which is a significant contributor to aviation accidents. For instance, on 1 July 2022, Defence Research and Development Organization (DRDO) announced the first test flight completion of a new Unmanned Aerial Vehicle (UAV), an autonomous Flying Wing Technology Demonstrator where the aircraft performed a flawless flight, including takeoff, waypoint navigation, and a soft touchdown, while operating in a fully autonomous mode.

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The leading contenders in the global Autonomous Aircraft market are listed below:

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

Autonomous Aircraft Market Segmentation:

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

• Technology Outlook (Revenue, USD Billion; 2019-2032)
o Increasingly Autonomous
o Fully Autonomous

• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Commercial Aircraft
o Combat and ISR
o Cargo and Delivery Aircraft
o Passenger Air Vehicle
o Personal Air Vehicle
o Air Medical Services
o Others

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Regional Outlook of the Autonomous Aircraft Market

The global Autonomous Aircraft market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Autonomous Aircraft market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

Key reasons to buy the Global Autonomous Aircraft Market report:

1. The latest report comprehensively studies the global Autonomous Aircraft market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
2. The report offers an insightful analysis of the regional outlook of the market.
3. It offers a detailed account of the end-use applications of the products & services offered by this industry.
4. The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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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 analyse 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. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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