Autonomous aircraft market to reach $37,060.5 Mn in 2031 | Size, Forecast, Share, Trends 2023

WILMINGTON, DELAWARE, UNITED STATES, October 31, 2023 /EINPresswire.com/ -- The autonomous aircraft can be defined as an unmanned aircraft, which does not require pilot intervention in the management of the flight. The technology is similar to autonomous cars, which has the ability to fly independently. The autonomous aircraft eventually includes commercial flights, right now the innovations are being made with smaller drones and planes. Currently, both government-funded companies (military agencies) and private companies are working on creating the technology that will allow aircraft to fly autonomously while also having the capabilities to deal with sudden problems in the air. Keeping the aircraft and its passengers safe is the highest priority to these companies, and the capabilities to do so are expected to continue to advance. For instance, in India, in October 2021, the Ministry of Civil Aviation established the National Unmanned Aircraft System Traffic Management (UTM) Policy Framework, the architecture, and mechanism for traffic management of autonomous aircraft in Very Low Level (VLL) airspace up to 1,000 feet above ground level.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/autonomous-aircraft-market/purchase-options

According to a new report published by Allied Market Research, titled, “Autonomous Aircraft Market," The autonomous aircraft market size was valued at $6.29 billion in 2021, and is estimated to reach $37.06 billion by 2031, growing at a CAGR of 19.3% from 2022 to 2031.

In addition, the autonomous aircraft market has witnessed significant growth in recent years, owing to technological advancement, which is high in countries, such as the U.S., has led to the development of advanced autonomous aircraft, which can adapt to changing conditions as well as handle flying situations, without any human intervention. For instance, in October 2021, Xwing partnered with Textron Aviation, which manufactures aircrafts for commercial and military purposes to further develop its remote piloting technology for Textron’s Cessna Grand Caravan utility aircraft. Both companies worked together to further develop and integrate autonomous flying technologies into Textron’s aircrafts. Furthermore, the companies operating in the autonomous aircraft industry have adopted partnerships, product developments, and business expansions to increase their market share and expand their geographical presence. For instance, in November 2021, Kittyhawk further developed its technology by successfully operating a remotely-piloted passenger air taxi. It was a beyond visual line-of-sight (BVLOS) flight and adopted many technologies such as Detect and Avoid (DAA), cameras, LIDAR and radar systems to help visually locate and avoid other aircraft. This laid down the path for further development in autonomous aircrafts.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬: https://www.alliedmarketresearch.com/request-sample/7486

The factors such as rise in adoption of autonomous cargo aircraft, surge in autonomy to reduce human errors, and increase in adoption of artificial intelligence in autonomous aircrafts, drive the growth of the autonomous aircraft market. However, increase in security issues & cyber threat and lack of standard infrastructure for operation & complex design and high initial investment are the factors expected to hamper the growth of the market. In addition, proactive government initiatives & support and rise in demand for improved surveillance are expected to create ample opportunities for the key players operating in the autonomous aircraft market.

The leading players operating in the autonomous aircraft market are Northrop Grumman, Collins Aerospace, Lockheed Martin Corporation, Boeing, Airbus, Elbit Systems Ltd., Textron Inc., BAE Systems, SAAB, Aeronautics, Aerovironment, Inc., General Atomics., Embraer SA., Aston Martin and Kittyhawk.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/7486

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By aircraft size, the others segment dominated the global autonomous aircraft market in 2021, in terms of revenue.
On the basis of maximum takeoff weight, the more than 2,500 kg segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of application, the civil & commercial segment is the highest contributor to the autonomous aircraft market in terms of growth rate.
By end use, the passenger segment is anticipated to exhibit a remarkable growth during the forecast period.

David Correa
Allied Analytics LLP
+1 800-792-5285
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