Autonomous Aircraft Market To Boom At $325 Billion, Study Says

Autonomous Aircraft Market To Boom At $325 Billion, Study Says
Courtesy by Defense News

During the next two decades, forecasters expect the autonomous aircraft market to grow at a nearly 25 percent annual rate and reach $325 billion. According to a report published on March 16 by the Aerospace Industries Association (AIA) and management consultants Avascent, industries such as agriculture, firefighting, and telecommunications are increasingly recognizing its value. The report, titled “Continuing to Think Bigger: Autonomous Aircraft and the Transformation in Aviation,” explores the next chapter of aviation and its potential to transform daily life while expanding what it calls America’s longstanding leadership in global aviation.

 AIA president and CEO Eric Fanning said autonomous aviation will change life as we know it. A central plan must be developed to make the autonomous aviation market a reality, and the government and industry must work together to preserve U.S. leadership in the field."

Investments in autonomous aircraft have skyrocketed since AIA and Avascent's first Think Bigger report in 2018. Several startups have received significant funding for autonomous aircraft and closely related technologies, according to the groups. By 2040, autonomous aircraft are expected to create nearly 100,000 jobs directly.

Through strategic actions and investments, the report identifies three key policy recommendations to maintain U.S. leadership in global aviation. It calls for developing a comprehensive national policy and regulatory framework aimed at promoting U.S. leadership in automation and autonomy in aviation, investing in "key" information infrastructure and technology development areas that accelerate innovation, and developing "performance-based" regulations that ensure safety and security while facilitating innovation.

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