Global Autonomous Aircraft Market: Overview
The International Civil Aviation Organization ICAO defined an ‘autonomous aircraft’ as a fully-automated or unmanned aircraft, which does not require pilot intervention for flying the aircrafts. The current aircrafts that both the civil and military organizations are using requires the help of operators and autopilot features to some extent. Likewise, the unmanned aircrafts are designed to allow operators to help whenever they require.
On the basis of component, the market for autonomous aircraft is expected to witness dominance of flight management computers segment. The growth is ascribable to the need for the advanced control on the autonomous aircraft. Additionally, the report offers the segmental revenue of the autonomous aircraft market with assessment of the revenue that the market is expected to accumulate in the coming years.
Global Autonomous Aircraft Market: Notable Development
Major companies functioning in the global autonomous aircraft market includes Boeing, Lockheed Martin, Airbus, Elbit Systems, and Northrop Grumman. These players are majorly focusing on the product innovations. In order to achieve that the players are increasingly entering in to the collaborations and partnerships for widening their product portfolio or for receiving advanced technologies.
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- 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 aircrafts or vehicles are able to carry four person at a time, which is equipped with medical care. Availing these aircrafts for these kind of services may turn as a beneficial for army operations. Additionally, growing acceptance and especially from the governmental bodies is expected to fuel the autonomous aircraft market growth.
- In 2019, helicopter-maker Sikorsky has shown their intentions to develop a fully autonomous system, primarily for a helicopters. These kind of investments by key players in the market is benefiting market growth.
Global Autonomous Aircraft Market: Drivers and Restraints
Autonomous technologies eliminates the risks of mishaps due to human errors. Rising accidents due to human error coupled with robust technological advancements in the artificial intelligence has encouraged the need for adopting the autonomous technologies in aircrafts. This is fuelling growth of the global autonomous aircrafts market. Additionally, the advanced technologies are currently available in comparatively low cost and easily accessible, which are again fuelling growth of the global autonomous aircrafts market. Moreover, implication of the autonomous technologies reduces the workloads on pilots, which are augmenting growth of the global automated aircrafts market.
However, the lack of presence of profitable airlines coupled with absence of key players especially in the emerging economies is restraining growth of the autonomous aircraft market. Additionally, requirement of large investment in the market is hampering autonomous aircraft market growth especially in the emerging economies.
Global Autonomous Aircraft Market: Regional Outlook
On the basis of region, the autonomous aircraft market is segmented in to North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, North America is expected to dominate the global autonomous aircraft market and remain as a dominant in the coming years. This is attributable to the rising number of companies in the global autonomous aircrafts market in the region, which are investing more for research and development activities. These activities may drive the robust development in the technologies and likely to result in to growth of the global autonomous aircraft market.