Autonomous Aircraft Market is expected to witness a high CAGR from 2020 to 2030.

Market Industry Reports (MIR) has published a new report titled “Autonomous Aircraft Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global Autonomous Aircraft Market is expected to witness a high CAGR from 2020 to 2030.

The aerospace sector is facing a slowdown in terms of net sales and revenue across the globe owing to the strict lockdowns in many countries amid the coronavirus pandemic that is significantly affecting the economic growth. The drones have played an important role in the fight against COVID-19 by helping to create socially distanced delivery services and more resilient supply chains. A reduction in human errors due to increased autonomy, increased cost savings, and technological advancements in artificial intelligence are some of the crucial dynamics driving the autonomous aircraft market.

The industry participants are engaged in the development of new & innovative solutions. The defense sectors are engaged in gaining contracts with key players that will provide advanced autonomous aircraft. For instance, in July 2019, Northrop Grumann Corporation received a strategic contract from the U.S. Air Force that will develop and deliver Global Hawk, an autonomous aircraft that is equipped with Battlefield Airborne Communications Node (BACN). The BACN acts as access to decode and distribute battlefield information that is acquired from various sources.

The air travel is approximately down by 90% due to the COVID-19 pandemic. Meanwhile, pressure has been increasing to restructure the utilization of drones to support social distancing, deliver vital goods, and enable essential workers to operate with greater efficiency. The utilization of autonomous aircraft in a wide range of applications, especially in defense and commercial sectors, is supporting the market growth. The increasing adoption of fully automated aircraft for intelligence, surveillance, reconnaissance, combat, and electronic warfare is a major factor that will supplement the market growth in the coming years. The goal of the aviation sector is to make fully autonomous commercial aircraft. Further, the introduction to fully autonomous personal air vehicles and delivery drones is anticipated to propel the market share.

Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Autonomous Aircraft Market By Technology (Increasingly Autonomous {IA} and Fully Autonomous), By End-Use (Commercial Aircraft, Combat & ISR, Cargo & Delivery Aircraft, Air Medical Services, and Personal Air Vehicles), By Component (Cameras & Sensors, Software, Air Data Inertial Reference Units {ADIRU}, Intelligent Servos, Flight Management Computers, Radars & Transponders, Propulsion Systems, and Actuation Systems) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:

The Rest of the World (RoW) is anticipated to be a dominant region for the autonomous aircraft market over the projected timeframe. The RoW consists of Latin America and the Middle East & Africa. The growth of the market in these regions is likely due to the increasing utilization of autonomous aircraft in African countries for providing air medical services. Moreover, the increasing urban air mobility in several countries, including Dubai, wherein regulatory bodies are working in support of the commercialization of these technologies, will support to result in the highest growth in this region.

Some of the prominent players in the Autonomous Aircraft market include Northrop Grumman Corporation, Elbit Systems, Lockheed Martin Corporation, The Boeing Company, Raytheon Company, SAAB AB, BAE Systems plc, Airbus SAS, Embraer, and Bell Helicopter, among others.

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