Forecasters expect spending on the autonomous aircraft market to expand at a nearly 25 percent annual growth rate and reach $325 billion over the next two decades, as industries related to such activities as agriculture, firefighting, and telecommunications increasingly recognize the value of its applications, according to a report released on March 16 by the Aerospace Industries Association (AIA) and management consultants Avascent. 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.
“Autonomous aviation has the potential to change life as we know it,” said AIA president and CEO Eric Fanning. “Government and industry must come together to realize the potential of the autonomous aviation market, unite behind a central plan to make it a reality, and use this opportunity to preserve U.S. leadership in aviation.”
Since AIA and Avascent’s first “Think Bigger” report in 2018, investments in autonomous aircraft have skyrocketed. Dozens of startup companies have received what the groups called significant funding for autonomous aircraft and closely related technologies. The latest report projects that autonomous aircraft will directly lead to nearly 100,000 jobs by 2040.
The report identifies three key policy recommendations to continue U.S. leadership in global aviation through strategic action and investments. Namely, it calls for building a comprehensive national policy and regulatory map that prioritizes U.S. leadership in automation and autonomy in aviation, investing in “key” infostructure and technology development areas that accelerate innovation, and developing “performance-based” regulations that facilitate innovation while ensuring safety and security.