Autonomous Aircraft Market to Rise at 22.68% CAGR till 2027 | Fortune Business Insights™ – The Midland Weekly

[ad_1]

The global autonomous aircraft market size is projected to reach USD 16.23 billion by the end of 2027. The rising investments in the development of improved aircraft infrastructure will emerge in favor of market growth. Giants such as Google, Amazon, DHL, Uber, Boeing, and Airbus are highly investing in R&D in UAV technology from the past few years due to lucrative opportunities in the market around the world.  However, the use has rapidly expanded in numerous applications in commercial, scientific, recreational, and other civil services. These are used to gather a large amount of information in disaster relief, forest monitoring, and vegetation monitoring. Nowadays, consumer drones are mainly used for cinematography, surveying, and aerial mapping.

The Covid-19 pandemic has had an adverse effect on several businesses across the world. Due to the rapid spread of the disease, companies are forced to shut down manufacturing units which have directly affected the business operations across the world. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Get Sample PDF Brochure with Impact of COVID-19 Analysis: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/autonomous-aircraft-market-103266

Autonomous aircraft are fully or partially automated vehicles where human intervention may or may not be a necessity. Technological integration has played a massive role in the development of autonomous aircraft. The use of concepts such as AI and IoT has allowed real-time operations. The massive investments in the integration of such real-time concepts as well as sensor-based modules will open up a huge potential for the growth of the overall autonomous aircraft market in the near future. The presence of several autonomous aircraft vendors in several countries across the world will emerge in favor of market growth. The increasing emphasis on the use of AI-integrated concepts is attributable to the benefits offered by this concept including high precision, accuracy, and efficiency. The increasing use of autonomous vehicles in military and defense applications will create several opportunities for growth.

“North America to Emerge Dominant; Increasing Investment in Product R&D to Aid Growth”

The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The rising investment in the research and development of efficient autonomous aircraft will emerge in favor of market growth. Moreover, the presence of several large scale companies including Boeing Company, Lockheed Martin Corporation, and Northrop Grumman will contribute to the growth of the regional market. As of 2019, the market in North America was worth 1.72 billion and this value is projected to increase at a considerable pace in the coming years. The market in Europe will exhibit a significant CAGR in the coming years owing to rising demand from the military sector for surveillance operations. Additionally, the increasing investment in aircraft infrastructures will emerge in favor of market growth.

Get your Customized Research Report: https://www.fortunebusinessinsights.com/autonomous-aircraft-market-103266

List of companies profiled in the report:

  • AeroVironment, Inc. (The U.S.)
  • Airbus S.A.S.(the Netherlands)
  • BAE Systems(The U.K)
  • Boeing (The U.S.)
  • Elbit Systems(Israel)
  • Embraer (Brazil)
  • Lockheed Martin Corporation (The U.S.)
  • Northrop Grumman Corporation (The U.S.)
  • Raytheon Technologies (The U.S.)
  • Saab AB(Sweden)

Industry Developments:

January 2020 –Swift Tactical Systems signed a contract of worth USD 17 million Bahamas government agencies and ministries for the purchase of 55 short and medium-range drones, immediate surveillance capabilities, training and support, and the establishment of a regional drone academy.

August 2019–AeroVironment signed a contract worth USD 45 million with the U.S. Department of defense for Raven unmanned aircraft systems (UAS). This will strengthen the partnership of the company with the U.S. Department of defense.

July 2018– Boeing announced that it has signed a contract with the US Navy for the design and development of a fleet of MQ-25A Stingray carrier-based drones. The contract is said to be worth USD 805 million.

Other Related News:

Business Jet Market Size to Hit USD 35.56 Billion by 2027; Exciting Advancements in Aircraft Propulsion Systems to Positively Impact the Aviation Industry

Helicopter Market Size to Reach USD 68.34 Billion by 2027; Rising Border Disputes to Fuel Helicopter Industry Demand

Wireless Infrastructure Market Size Anticipated to Reach USD 249.87 Billion by 2026 Owing to Increasing Adoption and Popularity of 5G Technology

Electro-Optical/Infrared (EO/IR) Systems Market Size to Reach USD 20.36 Billion by 2026; Rising Development of Military Aircrafts

About Us:      

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. 

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.

Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]

 Fortune Business Insights™

Linkedin | Twitter | Blogs

[ad_2]

Source link