The market was worth USD 4.56 billion in 2019 and will exhibit a CAGR of 22.68% during the forecast period, 2020-2027. 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.

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.

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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 additionally 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.

List of companies profiled in the report:

AeroVironment, Inc. (The US)
Airbus SAS(the Netherlands)
BAE Systems(The UK)
Boeing (The US)
Elbit Systems(Israel)
Embraer (Brazil)
Lockheed Martin Corporation (The US)
Northrop Grumman Corporation (The US)
Raytheon Technologies (The US)
Saab AB(Sweden)