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Future of Autonomous Aircraft Market: Size, Share & Forecasts to 2029
Autonomous Aircraft
What Is the Projected Market Size Valuation of the Autonomous Aircraft Market by 2025?
Recent years have seen a rapid expansion in the size of the autonomous aircraft market. It is projected to grow from $1.06 billion in 2024 to $1.18 billion in 2025, with a compound annual growth rate (CAGR) of 11.5%. This growth in the historic period can be linked to factors such as safety and efficiency improvements, applications in military and defense, commercial use cases, and regulatory advancements.
What Is the Estimated Market Growth Value for the Autonomous Aircraft Industry in 2029?
In the upcoming years, a robust expansion is anticipated in the autonomous aircraft market, ballooning to $1.45 billion by 2029 with a CAGR of 5.2%. Factors that may contribute to this predicted growth for the forecasted duration include uam (urban air mobility), eco-consciousness, technological advancements and environmental concerns. Furthermore, trends like connectivity and 5G, advanced perception systems and sensors, autonomous cargo delivery methods as well as the application of artificial intelligence and machine learning validate the forecasted development.
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What Are the Growth Drivers and Opportunities in the Autonomous Aircraft Market?
The progression in artificial intelligence plays a significant role in propelling the development of the autonomous aircraft market. Airlines and flight operators can significantly decrease their operational costs by controlling their aircraft and activities with technologies powered by AI. Top-tier airlines around the globe are currently utilising artificial intelligence to enhance their operational efficiency, prevent costly errors, and build higher customer loyalty. Airbus, a prominent aerospace company, is employing AI for data analysis from numerous factories to identify when alterations in the manufacturing process occur. This facilitates in addressing the problems more quickly and at lower costs, or even completely circumventing them. Consequently, the evolution of artificialintelligence is projected to stimulate the expansion of the autonomous aircraft market.
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What Are the Primary Segments Covered in the Global Autonomous Aircraft Market Report?
The autonomous aircraft market covered in this report is segmented -
1) By Technology: Increasingly Autonomous, Fully Autonomous
2) By Aircraft Type: Fixed-Wing, Rotary-Wing
3) By Application: Cargo Aircraft, Passenger Aircraft
4) By End User: Commercial, Defense
Subsegments:
1) By Increasingly Autonomous: Semi-Autonomous Aircraft, Autopilot Systems, Assisted Navigation Systems
2) By Fully Autonomous: Fully Autonomous Drones, Fully Autonomous Passenger Aircraft, Autonomous Cargo Aircraft
What Are the Top Growth Trends in the Autonomous Aircraft Market?
One dominant trend rising in the autonomous aircraft market is the establishment of strategic partnerships. Key players are advancing agreements to broaden their market shares and utilize mutual resources. As an instance, in August 2022, Commaris, an entity of Terrafugia, Inc., an American firm offering uncrewed aerial vehicles (UAVs) for business applications, unveiled its dealership partnership with FIZUAS Unmanned Aircraft Systems, a full life-cycle drone and small unmanned aircraft systems (sUAS) company also based in the US. Similarly in March 2022, Reliable Robotics, a US-based aviation automation company, collaborated with North Dakota's aerospace firm, Vantis, to foster progress in uncrewed aircraft systems (UAS).
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Which Companies Are Shaping the Future of the Autonomous Aircraft Market?
Major companies operating in the autonomous aircraft market include The Boeing Company, Airbus SE, Lockheed Martin Corporation, Northrop Grumman Corporation, Elbit Systems Ltd., Raytheon Technologies Corporation, AeroVironment Inc., Saab Group, BAE Systems plc, Aeronautics Ltd., General Atomics Aeronautical Systems Inc., Airobotics Ltd., Aston Martin Lagonda Global Holdings plc, Aurora Flight Sciences a Boeing Company, Bell Textron Inc., Embraer S.A., Joby Aviation Inc., Karem Aircraft Inc., Lift Aircraft Inc., Piasecki Aircraft Corporation, Planck Aero Inc., PrecisionHawk Inc., SkyLights Inc, Volocopter GmbH, Wing, Textron Inc., Israel Aerospace Industries Ltd. (IAI), Collins Aerospace a Raytheon Technologies company, Opener Inc., Xwing Inc.
Which Region Holds the Largest Market Share in the Autonomous Aircraft Industry?
North America was the largest region in autonomous aircraft market in 2024. Asia-Pacific is expected to be the fastest-growing region in the autonomous aircraft market during the forecast period. The regions covered in the autonomous aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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