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Artificial Intelligence

Autonomous Aircraft Market Size to Worth Around US$ 35.5 Bn by 2030

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Tokyo, June 07, 2022 (GLOBE NEWSWIRE) — According to Precedence Research, the global autonomous aircraft market size was estimated at US$ 6.75 billion in 2021. The rising technological advancements in the aviation industry, growing adoption of novel technologies like artificial intelligence and internet of things, rising number of air passengers, and growing demand for unmanned aircrafts from the military are some of the major factors that are significantly driving the growth of the global autonomous aircraft market.

The rising globalization of business has led to a rapid growth in business travel and the growing number of tourists is boosting the demand for the efficient aircrafts. The surging applications of the autonomous aircrafts for various purposes such as air medical services and cargo and delivery are boosting the demand for the autonomous aircrafts across the globe.

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The rising investments by the top market players in the research and development and adoption of the AI and IoT technologies has led to the rapid growth of the autonomous aircrafts market across the globe.

Moreover, the rising need for controlling air travel costs and increase efficiency of the aircrafts is boosting the adoption of the IoT and AI technologies. Further, the rising government investments in urbanization and building air connectivity infrastructure is boosting the number of air travelers, which is expected to support the market growth in the foreseeable future.

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 6.7 Billion
Revenue Forecast by 2030 USD 35.5 Billion
CAGR 20.25% from 2022 to 2030
Commercial Aircraft Market Share in 2021 25%  
Largest Share Holder North America
Key Players AeroVironment, Inc., Airbus S.A.S, Raytheon Company, BAE Systems, Saab AB, Northorp Grumman Corporation, Elbit Systems, Boeing Company, Lockheed Martin Corporation, Embraer S.A.

Report Highlights

  • By aircraft type, the rotary wings segment dominated the market. The less space required by this type of aircraft owing to its vertical take-off and landing features has boosted its demand. Moreover, the high demand for rotary wings aircraft for combat and surveillance activities has led to its dominance.
  • Based on component, the hardware was the dominating segment in 2021. This is attributed to the high prices and wider range of hardware components required in developing an autonomous aircraft.
  • By end user, the commercial aircraft segment led the market in 2021. The rising number air passengers and growing demand for cargo and delivery of goods and services across various destinations has led to the growth of this segment.

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Regional Snapshot

North America led the global autonomous aircraft market in 2021. The rising investments by the major aircraft manufacturers in US in the research and development of the autonomous aircrafts and the surging adoption of the AI and IoT technologies to foster the development of autonomous aircraft manufacturing process has led to the growth of the North America autonomous aircraft market. The demand for the cargo and delivery aircrafts, personal aircrafts, and combat and ISR aircrafts is significantly high in US. The presence of various major market players like Boeing Co., Lockheed Martin Corporation, and AeroVironment and various strategies adopted by them significantly influences the market growth in a positive way, which has led to the dominance of this region in the global autonomous aircraft market.

Asia Pacific is estimated to witness the highest growth rate during the forecast period. The surging demand for the unmanned aircrafts among the military in various nations like China, India, and Indonesia are significantly driving the growth of the Asia Pacific autonomous aircraft market. The significantly rising defense budgets of the countries like India and China are expected to offer huge growth opportunities to the market players in the foreseeable future.

Market Dynamics

Driver

Rising investments in the cargo and delivery of goods

Various countries like Singapore, US, China, and UAE are increasingly using the autonomous aircrafts for delivering goods and services. Moreover, in case of any medical emergencies, the autonomous aircrafts are also used as air ambulance. The advanced features and increased capabilities of these aircrafts has higher efficiency, they are cost-effective, reliable, and high speed aircrafts. These major features are solely responsible for the growing demand for the autonomous aircrafts across the globe. Moreover, the multi-purposes served by these aircrafts is expected to drive the market growth during the forecast period.

Restraint

Complexities in design, and difficulties in testing and certifications

There is an extensive requirement for testing and certifications for ensuring safety of the components and software, which are complex. The rising need for making the aircrafts cost-effective leads to the complexities in design. Moreover, there are strict government regulations pertaining to various factors such as passenger safety, environment protection, onboard safety requirements, and other purposes. These regulations are the major hindering factors for the global autonomous aircraft market.

Opportunity

Rising need for eliminating human errors

The development of advanced hardware and software has encouraged the development of the autonomous aircrafts. These unmanned aircrafts can significantly reduce the number of air accidents by eliminating the human errors with the use of AI and IoT technologies and can save lives of the pilots. The growing adoption of these aircrafts and rising technological advances are expected to offer several growth opportunities to the market players.

Challenge

High costs of the autonomous aircrafts

High costs are associated with the acquisition of the advanced aircraft hardware and software. Moreover, the engine and aerodynamics of the autonomous aircrafts has complex designs. Furthermore, the adoption of AI and IoT makes it vulnerable to cyberattacks. Therefore, ensuring safety involves a huge cost.

Recent Developments

  • In August 2019, AeroVironment signed a US$45 millioncontract with US Department of defense for Raven autonomous aircraft systems.

Market Segmentation

By Aircraft Type

  • Rotary Wing
  • Fixed Wing

By Component

  • Radars &Transponders
  • Propulsion Systems
  • Cameras
  • Sensors
  • Actuation System
  • Air Data Inertial Reference Units
  • Flight Management Computers
  • Software
  • Others

By Technology

  • Increasingly Autonomous
  • Fully Autonomous

By End User

  • Air Medical Service
  • Commercial Aircraft
  • Combat & ISR
  • Passenger Air Vehicle
  • Personal Air Vehicle
  • Cargo & Delivery Aircraft
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Artificial Intelligence

IG Canada Announces Enhanced Trading Platform for Enhanced User Experience

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Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.

IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053

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Artificial Intelligence

Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment

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This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
 
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
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Artificial Intelligence

Homestyler to Recruit First Batch of Global Partners in 20 Countries

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MILAN, April 25, 2024 /PRNewswire/ — Homestyler, a leading all-in-one 3D Design platform and creative community for global designers invested by Easyhome New Retail Group and Alibaba Group, successfully hosted the Homestyler Global Partners Conference and Gorgeous Home Imported Brand Investment Promotion Conference from April 18 to 19 on the sidelines of the 2024 Salone del Mobile Milano, the world’s leading furniture fair.

Easyhome is at the forefront, driving the transformation of the home furnishing industry into a full-service platform. It has developed a tailored solution for global brands called Gorgeous Home, which includes supportive policies and has established local distribution and service networks in international markets. During the conference, Homestyler unveiled a suite of digital products enhanced by 3D and AI technologies, including cloud-based design tools, virtual livestreaming that can alter and restore furnishing scenes to true-to-life scale, a 3D Floor Planner, a 3D Virtual Studio, and a 3D Interactive Panorama, among others. The event also marked the signing ceremony with the first group of global partners.
The Global Partners Program is a key milestone of Homestyler’s roadmap towards global commercialization. It has established close partnerships with around 1,000 global home furnishing companies and design institutions to provide solutions for digital transformation. The first global partners from more than 20 countries and regions will collaborate to explore content creation and marketing potential to deliver effective growth.
In addition, Homestyler shared the unique advantages of its software and cloud designing tools, particularly in cloud rendering, free modeling capabilities, 3D model and material libraries, one-stop workflow, and user-friendliness.
“The core technologies and products of Homestyler extend through all links both online and offline and deeply converge physical experience with digital technologies, such as attracting customers, content design and creation, interactive scene, check-out tracking and more, and we continue to optimize and enhance the 3D scenario shopping experience to empower the transformation and upgrading of the global home furnishing industry,” said Ma Xingjian, head of Homestyler’s overseas business.
Looking ahead, Easyhome and Homestyler aims to establish an international service, regional distribution and dealership system, serving as a bridge between global designers and home furnishing companies worldwide to enable designers residing in different countries and regions to highlight their 3D design solutions and boost shopping experience for the consumers.
As a creative hub for global designers, Homestyler continually expands its model library with home furnishing products from around the world and provides the latest in 3D and AI technologies to help companies promote their products across various channels. Companies such as P Life Concept London, Lahoma Ltd., and Tecnobit S.r.l. are leveraging Homestyler products to enhance the online shopping experience and increase efficiency on their websites. Homestyler plans to introduce more B2B digital products and services, including advanced 3D tools for designing, modeling, rendering, virtual studio shooting, and livestreaming. “Homestyler will further advance our international development: we are planning to establish industry-academy cooperation with Italy’s top design institution, the Polytechnic University of Milan, and the relationship with ADI. With the launch of Global Partners Program, Homestyler will continue to invest in supporting policies and boost international influence through various cooperation programs, to achieve the goal of providing better design services for users globally,” said Xu Min, general manager of Homestyler.
For more information, please visit https://www.homestyler.com.
About Homestyler
Homestyler was jointly invested in by Easyhome New Retail Group and Alibaba Group. It is dedicated to provide 3D cloud design tools for designers worldwide and delivering a comprehensive suite of 3D+AI digital solutions to the furniture and home furnishing industry.

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