Autonomous System Market Outlook – 2027
Autonomous system is a group of networks, which has a unified routing policy. Every computer device that connects to the Internet is connected to an autonomous system. The autonomous system market is one of the growing technology market, which apparently do not need any pilot involvement. These help to reduce human errors and increase efficiency in operation.
These factors are likely to further propel the market growth. However, lack public awareness is an obstacle in the development of the autonomous system industry. On-demand availability and reduced emissions are some of the key factors, which are expected to create growth opportunities for the autonomous system market.
The global autonomous system market is segmented on the basis of technology, component, end user, and region. Based on technology, the autonomous system market is bifurcated into increasingly autonomous and fully autonomous. In terms of component, the market is categorized into flight management computers, air data inertial reference units, sensors, actuation systems, software, intelligent servos, cameras, radars & transponders, and propulsion systems.
On the basis of end user, the market is divided into commercial, combat & ISR, cargo, passenger air vehicle, personal air vehicle, and air medical services. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Top Impacting Factors
Autonomous system reduce the chances of human mistakes causing mishaps. The need to adopt autonomous technologies in aircraft has been encouraged by rising accidents due to human error, coupled with robust technological advances in artificial intelligence. This contributes to growth of the global market.
However, absence of profitable airlines, coupled with absence of key players, especially in emerging economies restricts growth of the market. In addition, need for large-scale market investments hampers the market growth, particularly in emerging economies.
Software Segment Expected to Rise at the Highest CAGR
The flight management computer is the most important component, which tracks and control aircraft autonomy. As aircraft move toward full autonomy, there is expected to be higher demand for software algorithms to provide instructions to the aircraft. It is thus projected that software is a high-growth segment.
The flight management computers is expected to lead the market, during the forecast period. The component-based autonomous aircraft market is segmented into computers for flight control, air data inertial reference units, sensors, actuation systems, software, smart servos, cameras, radars & transponders, and propulsion systems.
Fully Autonomous Segment to Grow at the Highest CAGR
The fully autonomous segment is projected to develop at the highest CAGR during the forecast period, due to the growing autonomy of aircraft and potential push toward fully autonomous aircraft. Due to the installation of autonomous components, which have eased the workload of pilots, the current commercial aircraft are increasingly becoming autonomous.
In addition, the industry's goal is to make these commercial aircraft fully autonomous, as well as introduce new passenger and personal air vehicles along with fully autonomous commercial delivery drones. So, it is expected that the fully autonomous segment will see fast growth in this market. The market was segmented into increasingly autonomous and fully autonomous, based on technology.
Currently, advanced technologies are available at relatively low cost and easy accessibility, which is once again driving growth of the global market. In addition, the presence of autonomous technology decreases the burden on pilots, which is increasing the growth of the global market for automated systems.
Key Benefits of the Report
- This study presents the analytical depiction of the global autonomous system market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global autonomous system market share.
- The current market is quantitatively analyzed to highlight the global autonomous system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global autonomous system market analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 Scenario Analysis
- Global market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
- Global factories have struggled to integrate new autonomous system as workers have stayed in their homes, which disrupted the global supply chains.
- The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for autonomous system are gradually going to increase.
- This COVID-19 lockdown would help companies think about more advanced autonomous system to enhance efficiency.
Questions Answered in the Autonomous System Market Research Report
- Which are the leading market players active in the global market?
- What would be the detailed impact of COVID-19 on the autonomous system market size?
- How current autonomous system market trends would influence the industry in the next few years?
- What are the driving factors, restraints, and opportunities in the global market?
- What are the projections for the future that would help in taking further strategic steps?
Autonomous System Market Report Highlights
By End User
Key Market Players
BAE SYSTEMS PLC, Rockwell Collins (US), PrecisionHawk, Northrop Grumman (US), Elbit Systems (Israel), Airbus (France), Fortem Technologies Inc., Boeing (US), Lockheed Martin (US), SkyLights Inc.